Q: As a small business owner, I’m proud of the ongoing and increased demand for our services. Although I think the firm is ready to expand its footprint, I’m concerned we don’t have the necessary depth in our C-Suite (or the deep pockets) to strategically grow the business. Any thoughts?

A: Recently there has been a rising demand for fractional leadership, part-time positions for top executives. This has proven to be an affordable way for smaller businesses like yours and start-ups to benefit from senior expertise from C-Suite players at a fraction of the cost and bring the same amount of knowledge and experience as a full-time executive.

Fractional leaders can step in during a crisis or other critical periods to manage such issues as growth phases or transition. Their roles can provide much-needed direction and high impact outcomes.

There are a number of reasons to consider fractional leadership:
Financial Stability/Investors – Fractional CFOs can help raise capital, forecast business growth and help with financial planning.

Marketing/Branding – A part-time CMO could assist in developing effective strategic marketing and branding to produce additional business leads and potential clients.

Operational Efficiency – COOs can streamline processes to increase efficiency and profitability while scaling your business.

Other Considerations/Challenges:
Keep in mind, your fractional executive will not be working with you or your team 100% of the time. A lack of full-time executive presence can result in miscommunications, blur the alignment of priorities and possibly impair the acceptance of strategic initiatives to address your business concerns.

As such, it is imperative you onboard your new leader to ensure clear expectations, scope of work and how you will communicate to keep everyone on track. That said, there are more positives to building a fractional leadership team for a small business. It’s a cost-effective solution that enables fractional leaders to play a transformative role and be the game-changer your business needs to achieve your goals and objectives. By leveraging their expertise, you can access top-tier talent, valuable insight, special skill sets and strategic direction at a fraction of the cost. While there are risks and challenges with any new business endeavor, the benefits far outweigh the drawbacks.

New Year’s Business Resolution Reality Check. Are you:

  • Setting achievable goals that lead to success not frustration?
  • Learning a new skill?
  • Creating a better work-life balance?
  • Learning to delegate?
  • Improving communication skills to strengthen relationships?
    Most importantly — are you giving back to your community? Philanthropy not only fosters a spirit of goodwill but also can motivate employees, provide networking opportunities and build your brand.

Happy productive wishes for 2025!

Joan Lee Berkman is a marketing and public relations consultant. if you have a question for Joan, send it to business@townandstyle.com.