Let’s face it: hiring a full-time executive is like buying a private jet when you really just need a reliable car to get you from point A to point B. That’s where fractional executives come in—top-tier talent without the hefty price tag, commitment, or need for an extra parking space (be it for a Learjet or a VW Camper Van).
But choosing the right fractional executive? It’s a bit like online dating for your business—except instead of swiping right on someone who enjoys long walks on the beach, you’re looking for someone who can take your P&L from “meh” to “marvelous” in record time. No pressure, right?
So how do you find “the one”?
But how do you find the right one?
Picking the perfect fractional executive is a bit like finding the right therapist. You want someone who understands your quirks, fixes your issues, and doesn’t make you feel judged for that little financial crisis you had back in Q2.
To stretch the transportation analogy, if you are getting around London, you likely want a Cabby who has passed the Knowledge not a transplant Uber driver who relies on Google maps.
Here’s a no-nonsense guide to selecting the perfect fractional executive—without losing your cool (or your budget).
Selecting your Fractional Executive
Identify Your Most Pressing Headache
Before you start scrolling through LinkedIn profiles like you’re on a dating app, figure out which part of your business needs the most TLC. Is your cash flow resembling more of a trickle than a stream? You might need a fractional CFO. Are your marketing efforts about as effective as yelling into a void? A fractional CMO could be your new best friend. Pinpoint the problem area, and you’ll narrow down the type of fractional superhero you need.
With Aerius, we offer only CTO, CIO and COO services, because that’s what we have done. Repeatedly. To great success.
If you do need a Fractional CMO or CFO though, we can help you find one.
Experience: The Fine Wine of Leadership
You wouldn’t hire a sommelier who’s only experience with wine is the boxed variety, so don’t settle for a fractional executive who’s more talk than action. Look for someone with a track record of success, not just a LinkedIn bio full of buzzwords. They should have been there, done that, and preferably bought the proverbial t-shirt, sold it for a profit, and reinvested in a startup that’s now a household name.
Location, Location, Location
Post-COVID, work is a lot more remote. Check your exec to make sure they can work the way you work. If you demand 3-days a week from them in the office because that’s the way you do thing, let them know and make sure they work that way.
Conversely, if you are mainly, or totally, remote, ensure your exec is as well. Picking a successful exec who is very much “in-person” may not work out so well when they are working from home. I knew an incredibly successful exec that NEEDED in-person. He took over an 80% remote company as CEO and lasted 9-months before walking. Why? He couldn’t feed off the energy through a screen and couldn’t adapt his style to work remotely.
Compatibility Matters (Even If You’re Not Getting Married)
Your fractional executive won’t be living in your office (thank goodness), but you’ll still be spending a lot of time together. Make sure they get your company culture. If your office vibe is more laid-back startup and they’re used to Fortune 500 formality, you might end up with more friction than function. You need someone who speaks your language, literally and figuratively.
Test the Waters
You wouldn’t buy a car without a test drive, so why commit to a fractional executive without a trial period? Start with a short-term project or a specific task. This is your chance to see if they walk the walk and if their vision aligns with yours. It’s also an excellent opportunity to check if they can actually deliver on that “results-driven” promise in their resume.
Don’t Get Swayed by the Pitch
Fractional executives are often as good at selling themselves as they are at solving your business problems. Beware of the smooth talkers who promise the moon but can’t even deliver a decent PowerPoint deck. Look for substance over style—someone who asks the right questions, listens more than they talk, and gets to the heart of your business challenges without needing a spotlight.
Consider the Long-Term, Even If They’re Short-Term
Even though a fractional executive isn’t a permanent fixture in your company, their impact should be. The right fractional executive doesn’t just put out fires—they install a sprinkler system to prevent future ones. Choose someone who’s focused on sustainable growth, not just quick fixes.
Trust (But Verify)
Instincts matter, especially when hiring someone who will have a big influence on your company’s direction. If something feels off, it probably is. But don’t rely solely on your gut—ask for references and actually follow up on them. Hearing about someone’s successes (or failures) from a third party can be incredibly enlightening.
Final Thoughts
Picking a fractional executive is like finding the right mix of caffeine for your coffee—enough to get the job done without causing a jittery mess.
With the right one, your business will thrive, your headaches will diminish, and you might even start to enjoy those Monday morning meetings. Well, maybe. Happy hunting!
