The Power of Fractional Leadership
Our friends Ha Nguyen and Deb Liu recently published an insightful piece on how fractional executives serve as Force Multipliers for Startups. Their analysis highlights what we've observed in our own work, with companies of all stages:
"The benefits of hiring a seasoned fractional executive are multifold: access to expertise on-demand, the ability to drive immediate impact, reduced cost, minimal hiring risk, expert guidance at crucial moments, and (sometimes) access to a valuable network."
At Prodify, we have seen more companies successfully utilize this service in the past few years as people become aware of the option and how it can help them. We want to share what this specifically means for product teams.
Common Triggers for Fractional Support
To start with “what problems can this solve,” requests for fractional help often come in a few forms:
- “Help us transform.” Learning about the product operating model helps identify gaps, but there is a big difference between understanding the concepts and addressing them successfully.
- “Fill a leadership gap.” Companies may be planning to hire a product executive, but need help hiring the right profile, bridging the time until that person is up to speed and setting them up for success. Alternatively, they may have limited budget but need expertise for targeted, strategic topics.
- “Accelerate improvements.” In some cases, teams have an experienced leader, but want a surge in capacity to help with targeted priorities and change management. They want an expert partner to increase the chance of success and leverage their scarce capacity.
In short, companies want to make improvements in their cross-functional product team that existing leaders are not equipped to do on their own.
Finding the Right Fit: Team Expertise vs. Capacity
A fractional product executive helps when the need is 1) temporary and/or 2) targeted. The focus changes depending on a team’s existing internal expertise and capacity.
| |
|
|
| |
Low Leader Capacity |
High Leader Capacity |
| High Leader Expertise |
Acceleration partner
- Experienced teams needing targeted support
- Focus on enabling specific initiatives
|
Executive coach
- Teams with strong fundamentals needing refinement
- Emphasis on leadership development
|
| Low Leader Expertise |
Fractional CPO
- Teams needing comprehensive guidance
- Full strategic and operational support
|
Transformation partner
- Teams ready to learn and implement
- Focus on teaching and system building
|
Flexible Engagement Models
Fractional work is inherently flexible: you don’t need to hire a full time executive for less than full time work. It can scale up or down based on focus and needs. The arrangement and cost are set accordingly.
I have worked in different ways with companies: 2 days per week; 20 hours per week, 10 hours of advising plus 1:1 coaching, 2 days per month, etc. It’s helpful to define this since fractional executives work with multiple clients, but these can flex to do the right thing for the team and account for holidays, onsite meetings, or other variations.
Defining Success Together
It’s helpful to agree on the initial priorities to realize value quickly. If the team doesn’t already know these, the advisor can help set them or start with a team assessment which can inform a roadmap of work. This may consist of a combination of team improvements and being a sounding board for key operational decisions.
The goal is to focus on strategic topics matched to the advisor’s expertise. This may mean they are less involved in the detailed execution of the business, except when helpful to illustrate and apply new concepts. The time they spend on your business should be highly leveraged.
As an advisor, my focus is on creating sustainable improvements through effective teaching and collaboration. A successful engagement follows three key activities, sometimes in rapid succession:
- Alignment: Working with leadership to identify and prioritize the most impactful opportunities
- Education: Teaching core principles and frameworks to build internal capability
- Application: Collaboratively implementing solutions while building muscle memory in the team
This approach ensures we're not just maintaining business as usual, but creating lasting transformation in your product organization.
Impact Areas and Deliverables
If you are wondering how best to utilize a fractional product executive, here are representative initiatives from work with past fractional product clients:
| |
|
Strategic Leadership
- Define or improve product vision & strategy
- Support quarterly or annual planning
- Clarify team charters, problems and KPIs
|
Customer Understanding
- Lead customer interviews
- Implement product discovery practices
- Evaluate product customer experience
|
Process Transformation
- Assess team product practices
- Refine key processes
- Implement feature outcome evaluations
|
Collaboration & Development
- Improve intra-team collaboration
- Plan and facilitate team onsite meetings
- Enable stronger stakeholder alignment
|
Team Organization
- Lead product on interim/fractional basis
- Provide leader hiring & onboarding support
- Conduct 1:1 product leader coaching
- Inform team reorganization
|
|
Common Misconceptions About Fractional Product Leadership
"We're too small for executive product help"
Fractional leadership can help at any size company. Early-stage companies often benefit most from experienced product guidance when building their foundation. The flexible nature makes it accessible for all.
"We need someone full-time to make real impact"
Many strategic improvements benefit more from concentrated expertise than full-time presence. A fractional leader's focused time on high-leverage activities often drives more value than a full-time hire.
"We should wait until we hire our permanent executive"
Fractional support and permanent hiring are complementary. A fractional leader can help define the right executive profile, implement improvements, and ensure a smooth transition for your future hire.
"It's just expensive consulting"
Fractional leadership differs from traditional consulting. Rather than just making recommendations, we implement solutions and transfer knowledge. Success is measured by your team's enhanced capabilities after we leave.
"We should wait until we're ready"
Fractional leaders are often most valuable during periods of uncertainty or transition. They help define and implement the very improvements teams are waiting to make.
"We'll lose momentum when they leave"
Our key goal is building sustainable practices within your team. We focus on knowledge transfer and system building from day one, ensuring improvements persist.
Making the Decision
Most teams will probably see some of themselves in the above needs and priorities. Some questions to ask in assessing this:
- Are your opportunities for improvement acute and/or urgent?
- Is the existing team knowledgeable enough to make improvements successfully?
- Do they have sufficient capacity to prioritize this and move at an appropriate pace?
If the answers to the above are “yes” “no” and/or “no” then a fractional product executive could help.
Ready to explore how a fractional product executive could transform your team? Let's discuss your specific challenges and opportunities. Contact me at david@prodify.group or schedule a free consultation to learn more.
