What’s the difference between a Fractional Executive and a Traditional Consultant?
Consulting and fractional management are both approaches used to provide expert guidance and support to businesses, but they differ in several key ways:
Scope of Engagement:
Consulting: Consulting typically involves providing advisory services on specific projects, issues, or challenges. Consultants are often brought in for a limited duration to provide specialized expertise or to address a particular problem.
Fractional Management: Fractional management involves providing ongoing, part-time leadership and management support to a business. Fractional managers work closely with the company's leadership team, often serving in roles such as CFO, CMO, COO, or other executive positions on a part-time basis.
Level of Involvement:
Consulting: Consultants typically provide recommendations, advice, and expertise, but they are not directly involved in implementing those recommendations. They may assist with developing strategies, conducting analyses, or providing training, but the responsibility for implementation rests with the client.
Fractional Management: Fractional managers are actively involved in implementing strategies, making decisions, and driving results within the organization. They work as part of the client's team, often taking on leadership roles and executing initiatives on behalf of the company.
Duration of Engagement:
Consulting: Consulting engagements are often short-term and project-based. Consultants are brought in for a specific period to address a particular issue or complete a specific project, after which their involvement typically ends.
Fractional Management: Fractional management engagements are ongoing and long-term. Fractional managers work with the company on an ongoing basis, providing continuous support and leadership over an extended period.
Focus on Strategy vs. Execution:
Consulting: Consulting often focuses on providing strategic advice, analysis, and recommendations to help the client make informed decisions and develop effective strategies.
Fractional Management: Fractional management focuses on both strategy and execution. Fractional managers not only help develop strategies but also play a hands-on role in implementing those strategies and driving results.
Cost Structure:
Consulting: Consulting services are typically billed based on a project or hourly basis. Clients pay for the consultant's time and expertise during the duration of the engagement.
Fractional Management: Fractional management services are often structured as ongoing retainer agreements or part-time employment contracts. Clients pay an hourly rate or fixed fee for the fractional manager's ongoing support and leadership.
In summary, while both consulting and fractional management involve providing expert guidance and support to businesses, fractional management is more hands-on, long-term, and involves direct involvement in executing strategies and driving results within the organization.
However, should you have a need for a project-based consultation, we would love to help. Check out our project management section for more information.
You Choose….Hourly vs Retainer
Not sure where to start? We can use your organizational NEEDS to determine an ideal set of hours to receive exponential results from your fractional hours. We can assess the current state and provide a plan.
Or
Have a set BUDGET? We can work within a set budget to ensure you receive exponential results from your fractional hours.
How does it work?
We want the process to be as smooth and painless as possible. Our mission is through the relentless pursuit of excellence and dedication to our clients' success we strive to be the trusted partner that businesses turn to for strategic insights, innovative solutions, and unparalleled expertise leading to their exponential results.
We approach each client thoughtfully to ensure that our service offerings are systematic with the least disruption possible. We strive for a long-term partnership in all we do. We want to be just that, partners. Unlike traditional consulting, we embed ourselves in your business to walk alongside you as much as you would like.
You may only want to utilize our industry expertise 5 hours per week. Perfect! You may want to use us to subsidize your team for up to 15 hours per week. Even better! You may need us for an entire month as we get up and running. Great! We want to tailor your unique challenges to our expertise to exponentially improve results.
With today's technology, virtual working has become the norm. However, we love being on-site as much as possible. We would love to come on-site as much as possible. Again, whichever option is the most desired, we can provide it.
The Process
LET’S BEGIN
We want to LISTEN and LEARN allowing us to ASSESS and PRIORITIZE. We do this by focusing on the following:
How do you do it?
What do you want from this partnership?
Setup data and KPIs
Setup communication cadence
GO!
THE RESULTS
We want you to achieve exponential results. This is accomplished by DELIVERING the results and ADVISING the moves to be made. That is accomplished by doing the following:
Conveniently managing the data of your business.
Helping Day-to-Day if so desired.
Provide reporting and feedback.
Hit the agreed upon reporting cadence.
Watch the results grow exponentially!
THE FOLLOW ON
We want your exponential results to continue to grow and grow. We all know what got us here isn’t going to be what gets us there. Businesses must constantly OBSERVE the results and ADAPT to the changes in landscape. As you evolve, so will we. It will be critical to keep the communication consistent to ensure we can evolve to meet your needs.
