Identifying your superpower is even more important as a Fractional Executive. How do you stand out from the crowd? Not by stating that you can do anything for anyone. Even though, after several decades of professional growth, many Fractional Executives have done nearly everything in their profession, to the point that many resumes look alike.
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Their future work relies upon referrals and a successful track record. Interim and Fractional Executives are paid on the understanding of goals and objectives being performed and delivered, and not merely based on attendance.
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Who declares a random Friday a National Day for a certain grape varietal? And who declares all the other days, weeks, and months that we hear about?
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Building and running sales processes and teams without experience is an expensive trial-and-error scenario! Can it be done? Sure, it has been done this way many times. Should it be done? In my opinion, no. Because…
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Beyond their qualities, skills, and character traits, here are a few demographics: they tend to be younger (most sources place the average between the late thirties and early forties), they have a technology background, and they were not in business during the last recession in 2007/2008.
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Capital investments are postponed. Operating costs are constrained. And, perhaps most importantly, headcount is reduced. It’s a tried-and-true response to an economic downturn.
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As a founder, owner, CEO, or board member, you define your needs: the goals you want to accomplish, the specifics of your sales structure, the nature of your product, the target markets, etc. …and there is most definitely someone out there who has done that before. The perfect match is bringing their experience into your organization!
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The ratio between those two is a balancing act, one that does determine whether the solopreneur is successful and their practice survives. But is there an ideal ratio, an ideal amount of time to spend on Business Development?
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Fee models for fractional executives have an art and a science, a balance between multiple factors, and an element of “as-high-or-as-low-as-desperation-takes-you” to it. And that is not too different from the permanent job market.
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