Answering your questions about getting started as a fractional executive
How to get your first clients and turn it into a sustainable lifestyle
If you are considering becoming a fractional executive or are looking to grow your fractional practice, this post is for you.
Every week I hear from people looking for advice on how to get started as a fractional exec. Most are mid or late career executives who have reached the point in life where they want to have more control over their schedules, want to focus on doing the kind of work they enjoy most and see being a fractional exec as a way to achieve this
Having been through the same journey and learned what it takes to build a sustainable fractional business, I’ve answered their top questions in this post.
What is the definition of a fractional exec?
How did you get into being a fractional exec?
What experience do you need to become a fractional exec?
How do you structure and price a fractional service offering ?
How did you get your first 3 clients?
How do you find clients on an ongoing basis?
What tool stack do you use to build a fractional business?
1. What is the definition of a fractional exec?
There are two ways to define a fractional exec.
A fractional executive is a part-time manager. This is how I started out and how most fractionals start out. You’re a part-time member of your client’s leadership team, take on operating responsibilities and work 10-20 hours per week on each client. While it can be an easy way to get started, its very hard to have more than 2-3 clients at the same time due to everyone expecting you to be available on their schedule.
A fractional executive is a coach. This is what I became over time after realizing what my clients actually needed most. I’m a sales and marketing coach to startup founders and their team members and do everything a full time CRO does except owning numbers, owning execution and managing people. I have 8-10 clients at any one time and work around 20 hours a week in total on my own schedule.
2. How did you get into being a fractional exec?
I got laid off from a full time CRO role in January 2020 and didn’t want to jump straight into another full time job, so I decided to explore consulting as a way to get to know some CEOs before committing for the longer term.
My first 3 clients were: