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Fractional management is filling one of your management positions by someone who does not spend 100% of their time with your business. Fractional managers can help your business by filling skill gaps, completing special projects, or just hiring someone with business experience that you cannot afford on a full time basis.
A fractional manager is NOT a consultant. Fractional managers are a long-term part of the management team and equivalent to a full-time employee (just not employed full-time with your company). Fractional managers work to solve your issues and as a permanent member of the management team, have the long term success of your business in mind. Consultants are typically used for short-term projects and specific issues. They are paid on an hourly basis and can have the motivation to extend projects to increase compensation. A fractional manager is a salaried position and can focus on developing the right solution, regardless of the time needed.
A fractional manager can be used in any area of your business where there is a regular need. This can include:
Fractional managers fit best with companies that have surpassed $1 million in revenue. At this point, you cannot afford a full time manager, but might not have all of the skills or knowledge to manage and continue to grow the business.
I would recommend his service to anyone considering opening a business or wanting to improve on an existing operation.
Spectrofuge Corp. of NC