Build Your Company’s C-Suite with Fractional Advisors

Amy joined an expert panel of C-suite business advisors to discuss how mid-market companies are using fractional C-suite resources. The panel included experts in Sales (Pam Beigh, SalesCORE), Finance (Allison Steiner, VonLehman CPA & Advisory Firm), Legal (Todd Wilkowski, Frost Brown Todd), Human Resources (Tina Taylor, HR Elements, also representing VonLehman CPA & Advisory Firm), IT services (Paul Gelter, Centric Consulting) and Marketing (Amy).

 

Together, the panel shared insight into how fractional executives provide mid-market companies with a competitive advantage. Their goals are to creatively solve problems, leverage opportunities, improve performance, and move organizations forward toward sustainable, profitable growth. They are dedicated to helping mid-market companies succeed by instilling focus, using data and intuition to develop a plan, and building confidence in clients along the way

 

Fractional resources are leaders brought in to help fill leadership gaps or leverage external experience. Sometimes the leaders are hired for a set duration and sometimes they are an ongoing resource for the organization. A fractional executive can offer cost-effective access to a deep pool of skills and expertise without the commitment of a full-time role. 

 

With their many years of expertise, the panelists highlighted several of the many benefits that come with hiring a fractional advisor and how they help businesses in areas that need support. 

 

Here are some of the key insights shared during the discussion: 

 

  1. A client can save money when using fractional advisors because they reallocate their resources to experts in that area to assist them and help clarify their business goals. (Amy Connor, CMO-OnLoan)
  2. Blind spots can be identified and eliminated when fractional advisors come in with fresh eyes, helping clients gain new perspectives and insights that may have been previously overlooked. (Allison Steiner, VonLehman CPA & Advisory Firm)
  3. Clients lack time to manage and re-educate employees in certain departments. Fractional advisors provide companies with resources that have been tested and proven to increase business success in those areas. (Todd Wilkowski, Frost Brown Todd).
  4. Fractional advisors assist in identifying areas that require immediate attention, which can lead to a ripple effect of uncovering additional areas within that company that can benefit from their expertise. (Tina Taylor, HR Elements, also representing VonLehman CPA & Advisory Firm).
  5. A fractional advisor can supply a client with effective resource plans, road maps, and playbooks to provide the structure that excel company growth. (Paul Gelter, Centric Consulting).
  6. Companies are able to hire more junior people and the fractional leader can help build the person’s skills and confidence. (Pam Beigh, SalesCORE)

When deciding whether to hire a fractional executive, it’s important to consider the pros and cons. There are times when an external c-suite resource is not the right fit for a company or clients aren’t ready for one. The context of the work and the type of organization needed determine if one is right for a business. Sometimes companies need a full-time leader instead of a fractional resource and/or there is another function that needs the fractional resource first. The panel discussed how, during initial conversations, they probe whether or not a fractional resource is a good fit based on the company’s situation. 

 

To hear more, view the panel discussion in its entirety.


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