Fractional COO
About Me
I’m Gloria Holden and, over the years, I’ve owned businesses and worked for and with many other business owners in an Operations capacity. One of the biggest challenges I’ve seen for CEOs is that they’re often stuck working IN the business instead of ON it. And that usually means that growing the business takes a back seat to just fulfilling the daily tasks needed to keep it afloat. If that sounds like you, I can help.
What is a Fractional COO?
A Fractional COO is a part-time or temporary hire that fills the role of a COO for companies that can’t yet afford a full-time one. With average salaries currently ranging from $264,809 to $720,565 (data from salary.com), most small to medium size businesses just don’t have the budget for it.
Why would I need one?
A CEO is truly the leader of a company and is responsible for vision, generating big ideas, framing culture, and establishing great relationships. The COO position is an implementor – essentially a “Champion of Change,” and can be the closest thing to a partner that a business owner has without giving up ownership, so it’s important to have the right person.
How can a Fractional COO help?
The role of a Fractional COO typically includes
- Consulting with the CEO to define, develop, and implement the CEO’s vision
- Developing operational policies and procedures
- Overseeing day-to-day operations on a short-term, part-time, or project basis
In addition to the typical duties, one of my greatest strengths is the ability to sit down with the CEO of a business and explore what that owner really wants for their business. I come alongside as a servant leader and take the role of helping to refine the vision of the CEO, and then to implement and execute that vision. Sometimes it’s just having a conversation where I ask lots of questions. Sometimes it’s integrating what’s already a well-defined vision. It varies with every client.
Is a Fractional COO right for me?
If you’re a CEO wanting to scale your business, chances are you need a COO to help you make that happen. Consider this:
- A Fractional COO works remotely with your company so there’s no need for a separate executive office, and they create a “try before you buy” experience, allowing you to determine what you need from a full-time COO.
- A Fractional COO doesn’t require an elaborate executive hiring process, and they don’t require executive benefits, bonuses, or perks.
- If the Fractional COO doesn’t work out, just let them go. There’s none of the cost and legal maneuvering of firing an executive.
I’ve learned that the quality of the answers we get – whether in life or in business – is directly correlated to the quality of the questions we ask… and I help business owners ask better questions. Then I help them put practical tools and systems in place to get to the next level.
My experience covers a wide variety of industries, serving in a number of different roles:
- COO of a $20M Financial Education business
- CEO of 3 health clubs in the Florida Panhandle for 15 years
- Case Manager for a Forensic Engineering firm
- Operations Director for an Electrical Engineering firm
- Customer Service for the Corporate office of a large Insurance company
- Admin in various industries, including Banking, Insurance, Education, Manufacturing, etc.
- This broad spectrum of companies and roles allows me to provide a well-rounded approach to problem-solving. I love being the person beside the CEO that gets to help lead positive change within an organization. If you’re ready to get out of the “loop” of working IN your business and start working ON it, let’s talk.
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The Benefits of a Fractional COO
Number 1.
Typically, a fractional COO works remotely with your company. This saves you from creating a separate executive office.
Number 2.
Fractional COOs do not require an elaborate executive hiring process thus, you do not have to build separate HR processes for just one position.
Number 3.
Being a contract employee, the fractional COO does not require executive benefits, bonuses or perks.
Number 4.
A fractional COO creates a try it before you buy it experience, allowing you to kick the tires and determine what you need from a full-time COO.
Number 5.
The fractional COO is there to work themselves out of a job they focus on building your company so you can truly afford a full-time COO in the future, and they can even help you find and hire their replacement.
Number 6.
If the fractional COO does not work out, let them go firing an executive can be a grueling situation fraught with cost and legal dangers, but letting a contract employee go is relatively easy.
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