What can a Fractional COO do for a startup company?

by | Jan 23, 2023 | General

A fractional Chief Operating Officer (COO) can bring a variety of benefits to a company. A fractional COO is a professional who works on a part-time or project basis, rather than as a full-time employee.

One of the main benefits of a fractional COO is that they bring a wealth of experience and knowledge to the company. They have likely worked in a variety of industries and have a broad understanding of best practices and strategies for improving operations. This can be especially valuable for small or growing companies that may not have the resources to hire a full-time COO.

Another benefit of a fractional COO is that they can provide an objective perspective on the company’s operations. They are not emotionally invested in the company and can provide unbiased recommendations for improvements. This can be especially important for companies that are facing operational challenges and need a fresh perspective.

Fractional COOs can also help companies with specific projects or initiatives. For example, a fractional COO may be brought in to help with a merger or acquisition, or to implement a new operational strategy. They can provide the expertise and leadership needed to successfully navigate these complex projects.

In addition to these benefits, fractional COOs can also help companies save money. Hiring a fractional COO is typically less expensive than hiring a full-time COO, and companies only pay for the hours they need. This can be especially beneficial for small businesses or startups that have limited budgets.

Overall, a fractional COO can bring a wealth of experience, knowledge, and expertise to a company. They can provide an objective perspective, help with specific projects, and save money.

It’s important to mention that a fractional COO can also help to fill a gap in the leadership team and to provide continuity as the company grows, as well as to provide a sounding board for the CEO and other leaders.

10 Side Hustles for the Busy Executive

by | Dec 22, 2022 | Income Streams

Side hustles can be a great way to supplement your income, pursue a passion, or try out a new career path. Whether you’re looking to earn a little extra money on the side or turn your side hustle into a full-time business, there are countless options available. In this post, we’ll explore some of the best side hustles for busy professionals, from freelancing and consulting to teaching and coaching. Whether you have a particular skill or expertise to offer, or simply want to put your creativity and entrepreneurial spirit to work, there is a side hustle out there for you.

  1. Freelance/fractional consulting: Utilize your professional skills and expertise to provide consulting services on a freelance basis.
  2. Online tutoring or teaching: Use your knowledge and experience to teach or tutor others online.
  3. Virtual event planning: Use your organizational skills to plan and execute virtual events for clients.
  4. Social media management: Help businesses and organizations manage their social media accounts and create engaging content.
  5. Graphic design: Use your design skills to create graphics and visual materials for clients.
  6. Website design and development: Use your web development skills to create and design websites for clients.
  7. Writing or editing: Use your writing and editing skills to create content or edit materials for clients.
  8. Photography or videography: Use your photography or videography skills to create visual content for clients.
  9. E-commerce or dropshipping: Set up an online store or utilize dropshipping to sell products online.
  10. Coaching or mentorship: Use your professional experience and expertise to mentor or coach others in your field.

10 Tips on Investing from Stephen A. Ross

by | Dec 19, 2022 | Investing

Stephen A. Ross is an economist and financial theorist known for his work on asset pricing, including the development of the arbitrage pricing theory and the binomial option pricing model.

Here are ten tips on personal investing based on his work and writings:

  1. Set clear financial goals: Determine what you want to achieve with your investments and how much risk you are willing to take on to reach those goals.
  2. Diversify your portfolio: Spread your investments across different asset classes, such as stocks, bonds, and real estate, to reduce risk and increase your chances of success.
  3. Consider the trade-off between risk and return: Higher risk investments tend to have higher potential returns, but also come with a greater chance of loss. Consider your risk tolerance and investment horizon when choosing investments.
  4. Understand the underlying assets: Know what you are investing in and do your research on the companies or assets you are considering.
  5. Monitor your portfolio regularly: Keep track of your investments and make sure they are aligned with your financial goals.
  6. Consider the impact of taxes: Some investments, such as municipal bonds, may be more tax-efficient than others.
  7. Use professional investment advisors: If you are new to investing or uncertain about how to invest, consider seeking the guidance of a financial advisor or professional investment firm.
  8. Take advantage of employer-sponsored retirement plans: If your employer offers a 401(k) or other retirement savings plan, consider contributing to it to take advantage of any employer matching contributions and tax benefits.
  9. Understand the risks of investing: Investing involves risk, and it is important to be aware of the potential for losses as well as gains.
  10. Be patient: Investing for the long term can help you weather short-term market fluctuations and potentially achieve better returns.
The Benefits of a Fractional CMO

The Benefits of a Fractional CMO

by | Dec 18, 2022 | Marketing

In today’s ever-changing business landscape, it’s more important than ever to have a strong marketing team in your corner. But what if you don’t have the budget to hire a full-time Chief Marketing Officer (CMO)? Enter the fractional CMO.

A fractional CMO is a senior marketing executive who works on a freelance basis. This is a zero-execution role focused on strategy across channels, reporting and goal setting, managing a team, and growing new channels and verticals. In other words, a fractional CMO is responsible for all aspects of your company’s marketing efforts—they just happen to work on a part-time basis.

So, what are the benefits of hiring a fractional CMO? Let’s take a look. 

Benefit #1: Save Money on Salary and Benefits

Perhaps the most obvious benefit of hiring a fractional CMO is that it will save your company money on salary and benefits. When you hire an employee full-time, you’re not only responsible for their salary, but also for their benefits (health insurance, dental insurance, etc.). When you hire a fractional CMO, however, you’re only responsible for their hourly rate—which means big savings for your company. 

Benefit #2: Get Access to Senior-Level Marketing Talent 

When you hire a fractional CMO, you’re getting access to senior-level marketing talent—without having to pay the hefty price tag that comes with it. Fractional CMOS are usually experienced professionals who have worked in high-level marketing positions at some of the world’s top companies. As such, they bring a wealth of knowledge and experience to the table that can help take your company’s marketing efforts to the next level.

Benefit #3: Free up Time for Other Priorities 

Hiring a fractional CMO will also free up time for you and your team to focus on other priorities. When you’re not spending time worrying about your marketing efforts, you can focus on other areas of your business that need attention. This will allow you to be more productive overall and make better use of your time.

As you can see, there are many benefits to hiring a fractional CMO. If you’re looking to save money on salary and benefits, get access to senior-level marketing talent, and free up time for other priorities, then hiring a fractional CMO is the way to go. Work with REV Advisers to get started.