All the Good Things (and 3 Bad Ones) I Learned During My First Year as a Fractional

Before we start, I need to admit something: I didn't accomplish anything heroic by going fractional. I didn't storm out of a meeting in disgust, tell my boss to shove it, or walk away from a high-paying executive role to make a better life for my family. I was asked to leave my last company, and quietly did so—with no scenes, no arguments and no drama.

I mention this because I follow a good number of fractional influencers, and many of their stories are quite inspirational. But unfortunately mine is not—I went fractional partly as a matter of survival, and partly because after 20+ years I really needed to get off of the never-ending tech roller coaster.

So with the above in mind, this is my unfiltered take on one year of being fractional. And if you find any value in this article, please be sure to like or share it. Thank you!

First, The Good Stuff

1. The Variety of Work Energizes Me. When you spend years doing basically the same things for basically the same types of companies, it's easy to lose track of how repetitive your work life becomes over time. But the challenge of working for 3 or 4 companies at once comes with a natural boost of energy . . . to a degree I have difficulty explaining. I operate on less than 1/3 of the caffeine I'm used to consuming, I exercise more, I sleep better, and I even picked up a few hobbies I previously didn't have the motivation to pursue.
2. I Control 100% of My Own Time. As a fractional, I have the luxury of being able to accept or decline absolutely everything that goes on my calendar, with no exceptions . . . meaning filling my days with wall-to-wall meetings is a thing of the past. And more importantly, I have the option of declining travel-mandatory events like trade shows, corporate offsites, sales kickoffs and board meetings. Which—as both a parent and a spouse—comes in handy if my kids have an event on the same day, or if travel dates overlap with a special occasion I'd prefer to not miss.
3. The Return to Office (RTO) Debate is No Longer My Problem. If you've ever read anything I've posted on LinkedIn, you know I have clearly taken a side in the RTO debate. But just the same, the days of wondering if I'll be restructured out or offered a pay decrease because I don't live near corporate HQ are over for me. Unlike their old-fashioned counterparts, tech firms who work with fractionals value talent and contribution over location—meaning they will accept my help, my experience and my expertise regardless of where I choose to offer it from.
4. Being Fractional is Like Earning an MBA Every Single Month. With no risk of exaggeration whatsoever, I can confidently say I have learned more in the past year as a fractional than in my last decade as an in-house employee. Without even realizing it, I was basically stagnant when it came to my career development. But working for multiple companies at one time has forced me to learn new strategies, apply new technologies, embrace new perspectives, and approach the process of growth acceleration in very different ways.
5. My Professional Network Has Exploded . . . in a Good Way. When you are an in-house employee working on a team, the circle you regularly operate in is limited. But when you are fractional, the variety of people you interact with on a weekly basis expands exponentially. In the last 12 months alone I have worked with 11 CEOs, 8 boards of directors, 5 company founders and 4 different private equity firms. And given that the quality of your network is what ultimately pays the bills when you are fractional, my expanding network is also my biggest asset going forward.

And Now, the Not-So Good Stuff

1. Being Fractional is Like Living on 100% Commission. If you're anything like me, you've spent most of your career terrified of roles with significant variable compensation. But when you are fractional, ALL of your compensation is variable— because if you don't work, you don't get paid. And ironically even if you do work, getting paid can be challenging. Don't get me wrong, most fractional clients understand your situation and pay on time or even early . . . but the reality is, some don't. So if you don't have a significant savings account going in, the fractional life may be financially challenging for you.
2. The Health Insurance Landscape for Self-Employed People is Brutal. Many who are considering fractional work can lean on the health care plan of a spouse. But for those who cannot, let me tell you something you weren't expecting to hear today: your previous company's COBRA option is a better value than any health plan you will find on the open market. Unless of course you consider $2,000+ per month for a stripped-down family policy with no dental or vision a good deal. And if you also require the protection of STD and LTD policies, be sure to plan for $400+ per month in additional premiums for those.
3. There is a Ton of Competition for Fractional Roles Now. If your business development plan includes applying for fractional roles on sites like LinkedIn, Catalant, Indeed and Upwork, then you don't have a plan. The fact is, there are more applicants now for fractional roles than there are for FTE positions—which drives both hourly rates and the ability to acquire these highly visible roles down to almost nothing. If you're going to run a successful fractional pratice, the bulk of your work must come from (you guessed it) your professional network.

Wrapping it Up

When I look back on my first year as a fractional, the words "more good than not so good" sum it up pretty nicely. On the good side I actually made a very nice living doing something I truly love—while not missing a single important moment of my personal life. But on the not so good side, being fractional is an expensive and risky career choice that is getting more competitive by the day. Fortunately I've never minded a little risk or a little competition, so I think I'll stick it out for awhile longer.

* This article originally appeared in the blog of my professional website. Click Here to visit The GTM Blog and read my other articles.

About Eric

Eric is a Fractional CMO and CGTMO with 20+ years of experience owning Marketing, Growth, Go to Market and Strategy at emerging SaaS businesses. The services he currently offers include Fractional CMO and GTM advisory services, interim or transitional executive placement, marketing team management, Go-to-Market process optimization and investment due diligence. Learn more about the services he offers at www.cgtmo.com.