When we first envisioned the products and services that LBC would focus on, some easily came to mind – strategy, leadership, coaching. Other services were more about “testing the waters” to see how they would evolve, one example is our fractional executive services offering.

Fractional executive services provide organizations with the support of experienced executives on a part-time or temporary basis to perform specific roles and responsibilities that are normally associated with C-level positions. Designed to provide strategic leadership and specialized knowledge, fractional executive services can address a particular business need, challenge or growth phase without the long-term commitment and expense of a full-time hire.

Spoiler alert – we are loving this work.

Having the opportunity to work with organizations that are going through significant growth, have complex challenges or that simply need to augment their current executive team has been fun and challenging work. Because of the customized nature of fractional executive services, we have had to lean in and work intimately with these clients to support their individual needs.

As a small-medium business ourselves, LBC has also benefited from utilizing fractional services to move our own strategy forward in areas where we felt others could bring something to our team that we currently lacked.

If you haven’t ever thought about utilizing fractional executive support, consider these benefits:

• Cost-Effective: Fractional executives provide high-level expertise without the full-time salary and benefits. This can be particularly beneficial if your company has a limited budget.
• Flexibility: Executives can be hired on a part-time, project-based, or temporary basis, allowing you to scale your leadership resources up or down based on current needs.
• Expertise: Fractional executives come with extensive experience and specialized knowledge in specific areas. This expertise can drive strategic initiatives and problem-solving.
• Objective Perspective: As they are not full-time employees, fractional executives can offer an unbiased, external viewpoint, which can be valuable for strategic planning and decision-making (our clients have highlighted how critical this is).
• Accelerated Growth: Their experience and strategic insights can help accelerate growth by implementing best practices and avoiding common pitfalls.
• Mentorship and Training: They can also mentor existing staff, enhancing the overall capability of the team and preparing them for future challenges.
• Risk Management: By bringing in seasoned professionals, businesses can better manage risks associated with growth and change, making more informed decisions.

One area that we feel LBC differentiates in the fractional executive space is that we don’t partner with organizations based solely on competency fit, but also cultural fit and an approach to leadership that is compatible with your team. We know the effect compatibility can have on the success of a project or partnership, and a crucial step in our client journey is ensuring this fit exists between our team and your organization before moving forward.

As with everything we do, our focus is on the alignment between our purpose and yours, so that together our people can have a strong and positive impact on business performance.