As a business owner, there is no greater thrill — and headache — than experiencing rapid growth. It comes with the joy of success, and the uncertainty of how to navigate older systems breaking down and processes no longer working as effectively.
Demand is up, but daily operations tend to get bogged down. You’re stuck in more meetings, troubleshooting, and putting out fires. Before you know it, your day is gone — you and your team get lost in the minutiae of growing pains. You get to the end of the day or week and ask yourself, “what did I actually accomplish?”
The benefit of a Fractional COO (chief operations officer) is their ability to share their years of experience in business administration, guiding growing companies like yours to safely and predictably scale. They shoulder the strategic planning and tackle the issues plaguing daily operations.
They act as a true partner for the visionary chief executive officer (CEO), the responsibilities coinciding with one of a senior management team.
What is a Fractional COO, exactly?
Many people ask what does a Fractional COO do? They are your right-hand man. A Fractional Chief Operating Officer is a strategist and tactician who champions efficiency throughout your growing business. They are operational and process management focused, freeing a business owner from the day-to-day demands that suck away all their time.
There are so many benefits to having a Fractional COO on your team. They help clarify your vision for the future, identify roadblocks in the path of stable growth, develop leadership skills, implement business strategies, and streamline systems for greater effectiveness.
The short version? A Fractional COO is your fixer and finisher.
So, what are the responsibilities of a Fractional COO?
Bringing on a Fractional COO not only helps small business scale at a fraction of the cost but their roles and responsibilities are also generally the same as if you hire a full-time COO.
They help growing companies achieve their vision in 3 key stages:
#1 They “get you”
Their most essential responsibility, a Fractional Chief Operating Officer will make it their mission to intimately understand your vision, the systems and processes in place, and the people responsible for executing your initiatives. They just “get you.”
This empowers their strategic planning and helps guide your growing business to a safe and predictable model for scale, bringing back the peace of mind you rightfully deserve.
#2 They integrate the strategy in your business
At this stage, a Fractional COO has helped clarify your vision & initiatives. They’ve helped you determine if your goals are appropriate for where your business is in its journey and even identified Quick Wins over chokepoints that erode the execution of those initiatives.
They take all this data and they begin executing their strategic planning. They will regularly hold meetings, ensure your people are in the right seats and are responsible for the right accountabilities.
A Fractional Chief Operating Officer ensures stable growth by keeping your leadership team on the same page and integrating data to optimize your processes. You can finally say goodbye to all the troubleshooting and start focusing on creative direction.
Winning quick & winning early
Any Fractional COO worth their salt is going to execute on the things they see. Especially if it’s a Quick Win that can easily create an opportunity for greater productivity and profitability.
What’s that look like? After just 2 weeks of working with us, we were able to find an opportunity to increase sales efficiency by $150,000 for a $1 million painting business.
#3 They optimize for greater efficiency
The third and just as essential responsibility of any part-time COO — or full-time for that matter — is to continually optimize:
- They continue to identify potential bottlenecks and issues that can threaten daily operations.
- They work with you and the team to identify opportunities to strengthen efficiency and overall productivity.
- They take new initiatives and guide your leadership team in their execution.
A part-time Fractional Chief Operating Officer, just like a traditional COO, will take the information they glean to show you and your team the most efficient path to success. And with each meeting, they will iterate, refine, and streamline your systems and processes until the headaches and fires are a shadow of the past.
How does a Fractional COO benefit my small business?
The principal benefit of Fractional COO is that they rally your team and meet each challenge in the most cost-effective way possible. They guide your small business through the growing pains that hold it back from achieving its ideal future state — at a fraction of the cost of a traditional full-time COO role.
As a business owner, you gain all the wisdom, experience, and strategic planning from an executive-level hire, without a salary commitment, signing bonus, or other perks expected from an in-house COO.
With a Fractional COO, you can navigate the growing pains and complexities of strengthening your systems and business operations. You can ensure your initiatives are efficiently executed, and daily operations are boosting productivity, not bottlenecking.
Learn more about the Fractional COO process.
Focus on your vision and not the fires. Connect with Key Performance Integrators and see just how efficient and effective your business can run.