Some days I advise in the amazing world of MedTech. Some days I consult in operational turnaround or business development for healthcare practice, consumer product, or supply-chain organizations. Other days I mentor startup businesses, and sometimes I volunteer, fundraise for great causes, or use my influence in one of many Board roles. But my favourite days are when I am called in as a fractional executive.
Owner-operators spend so much time dealing with the day-to-day that sometimes, by the end of a week, they do not know what they strategically accomplished to really move their company forward. Fractional C-Suite contracts are growing in popularity. You are scaling and growing your business, without committing or risking a full-time C-level person (with a C-level salary).
Fractional leadership allows a business owner to leverage experienced C-suite executives to fill leadership gaps in your business on a part-time contract basis. It is a short-term commitment to add senior level resources to effectively strategize, meet current demands, and expand your success. By retaining the right fractional C-suite person with relevant experience to grow your business, you minimize the risk and costs of hiring a full-time C-level executive.
Before we explore whether an interim or fractional leader can institute significant and lasting changes within an organization, it is important to recognize the benefits of fractional leaders.
Fractional leadership is:
- Cost-Effective – get the expertise, guidance, and direction you need without breaking the bank because it is at a fraction of the cost of paying for a hefty full-time C-Suite salary and comprehensive benefits
- Flexible – fractional arrangements can be tailored to your specific needs, whether it is strategic planning or operational overhaul
- Laser Focused – unlike traditional leadership where you must ensure the candidates fit in with your company culture, possess the work ethic you need, understand your business, etc., fractional leaders are strategically focused and specifically chosen for their ability to address your itemized priorities and objectives
- Immediate Results – building a leadership team can be challenging. Fractional leadership can bring in one, two or an entire team of experienced leaders without the cost or commitment of full-time staff and provide immediate results by leveraging existing knowledge and experience.
There is a significant benefit in placing a seasoned executive within the C-suite team with a single-minded focus on advancing a priority task or series of related tasks. A seasoned executive will understand the inter-relationships between the various aspects of your business and will not ignore critical aspects of maintaining corporate culture in a business where everything is connected to everything else. That said, progress on important priorities can require an uncompromising focus.
Uncompromising is a polite way to say that as a fractional executive, I am RUTHLESS. When I am coming in for a few hours a day or a few days a week, I must prioritize what is profoundly important on your list and align it with the most strategically valuable initiatives. I am here to make your processes gleam by leveraging your under-utilized resources and workforce because I have the experience and the ability to radically ramp up your end results.
Moreover, I can bring a dynamic powerhouse team with me from The Osborne Group. Among nearly 40 Principals, we have combined expertise in strategic planning, supply chain revitalization, marketing, innovation, human resources, labour relations, change management, finance, operations, leadership, and so much more spanning decades of experience. We come in running and we quickly do the job we have been retained to do.
How does a fractional executive who parachutes into your company develop an in-depth understanding of your products and/or services? We do not need to because you already know your business. We bring transferrable expertise that results in transformation – you already have in-house experts who know your products and/or services. You need us when you want to turn your assets into something bigger and better. We can do that because what we have already learned from our successes and our failures makes us effective leaders to take your existing expert resources – your staff and your processes – and lead them to become revolutionary.
- We bring vision – we can reconfigure your game and reset your company.
- We bring strategy – we make big moves right from the start that drive your enterprise.
- We bring resources – whether it is reallocating or renewing, we do what needs to be done.
In-house leaders might suffer from burnout whereas fractional leaders arrive refreshed and ready to rock. Having worked with multiple organizations, we know how to brief, execute, and debrief. We are ready to shake things up and push your performance.
At The Osborne Group, we are objective — we have one goal in mind and that is delivering what you are paying us for. If we agree to come in and we cannot help you, then that reflects poorly on us.
- We are not trying to beat out an existing leader for a promotion.
- We are not vying for a better performance review than other executives, so we get a higher raise.
- We are not looking for a bonus at the end of the year (we just want to be your “go-to” for leadership support!)
What we are here for is to do the job we are contracted to do, empower you with the right tools, and then we are going to get out of your way.
Connect with Indu Bains to learn more about the benefits of Interim Executive Leadership.
Indu Bains is a visionary executive with 25+ years MedTech industry expertise and experience in distribution, go-to-market strategies, product development, and operational management. Indu has international experience negotiating contracts, developing sales pipelines, and managing multifunctional teams. As COO for SIMS Medical Corp. for over 17 years, she has extensive knowledge in the distribution, sales, service and warehousing of medical goods, healthcare brands and consumer products via B2B and D2C channels and taking sales from zero to multi-million revenues.