Leveraging Fractional Support: A Strategic Approach to Scaling Startups
Malin Renstr?m
Fractional Chief of Staff - I scale operations and execute high-impact business strategies I Head of Operations I Personal Development Coach
Fractional senior support is becoming more and more popular across start-ups and is a great way to maximize efficiency and expertise within a company without the commitment of full-time hires on the P&L, allowing for flexibility and cost-effectiveness.?
The 9-5 five-day workweek model as the only way to work is outdated and stems from industrialisation, which is far from the structure that most companies need today to succeed. Instead, fractional support can be great for companies in need of in-house specialised expertise, while remaining cost-effective and flexible.?
The way we work has drastically changed over the past few years and with more remote and hybrid work opportunities, fractional support is becoming more and more accessible. With the support of COVID times, we learned how to collaborate better over different time zones with limits in travelling and access to physical meetings. This made us set up new ways of brainstorming, aligning on decisions, sharing information, and overall how we collaborate. The questioning of the former status quo has opened the opportunity to also question the way work should be conducted and how/what talent is needed for a business in different stages.?
It is important to note that fractional support is not a consultant - fractional support is taking on the role of an employee and executing as such. Fractional support is also not a freelancer but should be seen as a fully dedicated resource to the company. When working with fractional staff there are a few things to ensure:
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Fractional support can be great on a senior level when a company is scaling. A senior fractional role can offload work from senior management faster than hiring more junior people who require training and management. As they are senior they are supporting the C-suit, bringing expertise and can take over leadership, strategy, and senior-level execution fast.
A lot of roles can with time turn into full-time roles, or the role can focus on training the junior team to step up over time. By being dynamic, and working with people's talents and possibilities, companies can better leverage the benefits of fractional support. By following these best practices, scaling startups can effectively navigate growth challenges and tap into top-tier expertise to drive success.
4x Founder. 9 + 7 figure bootstrapped exits. Building the future of work
8 个月Malin Renstr?m great writeup! At fraction.work we are putting the same principles you've outlined here into practice with our clients! In sourcing talent, our most interesting discovery (as in unexpected) has been the need to do "slack" tests - chat platforms ARE the office in remote work for so many companies, but we find that not everyone has embraced the communication culture shift it requires to be successful.
Investor @ Artha Venture Fund | Former Founder & Operator
8 个月Praveen Ghanta you should chat. Outside your based-in-USA thesis but Malin is an amazing operator, worked alongside for a while!