Hire Fractional CBO

Do you have a new product or a business idea but can’t reach the right target market? Well, you are not alone. Market expansion and sales can be hard. Thankfully, you do not have to do it alone when you can onboard a fractional chief business officer from COHIIRE.

Who is a fractional chief business officer?

A chief business officer is a senior leadership role associated with a company on a full-time basis. A fractional CBO is the same leadership position. However, they are related to the company for specific projects or time durations. Therefore, the word fractional appears in the title. Additionally, a fractional CBO’s remuneration is also lower than a full-time, in-house CBO. Hence, the position is more affordable and accessible for all kinds of companies.

Nevertheless, a fractional CBO wears many hats and fulfills all the duties of a full-time CBO. Their role can be divided into basic operations and leadership activities. They play a vital role in the business development and market growth of the company. However, these are some preliminary responsibilities of this role.

A fractional CBO also leads the sales and marketing teams with innovative strategies. They are associated with change management and finding growth opportunities in new markets, products or customer segments. They motivate the teams, offer mentorship, and prepare them for tackling business challenges. Moreover, senior leaders like fractional CBOs foster a culture of critical thinking among the teams so they can navigate the company through complex business scenarios. Finally, a fractional CBO also assists in conflict resolution, especially during cross-departmental tasks.

Why does your company need a fractional CBO?

As a small company with big goals, some extra support can go a long way. Unfortunately, tighter budgets often stand in the way when you plan to onboard a top-level executive. A fractional CBO is the perfect solution for small and mid-level businesses that aspire to grow their business and market share. A CBO also contributes to revenue-generation strategies. But most importantly, they empower the business to navigate a complex landscape by offering guidance, analyzing data to identify trends and fostering innovation in the company.

Key responsibilities of a fractional CBO:

• Under this role, a fractional CBO will implement and test different sales and marketing strategies to find the best ones.
• The fractional CBO will identify and fill in the gaps in existing strategies to meet the sales targets and boost revenue generation.
• Set KPIs for the sales team, monitor and measure their performance of the sales team, and provide them with feedback.
• The fractional chief business officer will monitor business trends and formulate adaptive strategies to stay ahead of the competition.
• A fractional CBO is also responsible for financial planning and budgeting.

How can your business benefit from a  fractional CBO?

Here are five strategic advantages your company enjoys with a fractional CBO:

1. An extensive understanding of the current and future business landscape – a CBO has the foresight of the opportunities in the present market scenario.
2. Optimizing day-to-day operations to improve productivity and profitability, so the team can focus on growth and revenue-generating activities.
3. Resolving complex business problems to facilitate innovation, product development, market growth, and elevate customer experience.
4. Developing sustainability strategies and ethical business practices to comply with customer expectations and government regulations.
5. Motivating the Sales and Business Development teams to meet the business objectives and the company’s short and long-term goals. They help nurture an environment of achievement.

Services offered by a fractional CBO:

Here is a glimpse of some key service areas where a fractional CBO can be instrumental:

• Executable strategy making for Sales & Marketing
• Business development
• Market expansion
• Risk management
• Regulatory compliance
• Financial management
• Innovation management
• Product development
• Change management
• Mentorship and guidance

3 things to look for in an ideal fractional CBO:

While there is no specific template of skills and experiences, here are three vital and non-negotiable characteristics of a fractional CBO:

• The fractional CBO must have in-depth knowledge of business, marketing, sales and branding. This role requires the expert to craft marketing strategies for market expansion.
• The fractional CBO must be a critical thinker and an expert strategist who can develop strategies based on opportunities and challenges in the business landscape. They should be able to analyze trends and predict the future.
• Last but not least, technical acumen is a key factor in present times. The fractional CBO must know different tools that streamline operations, such as SaaS software. They should also be able to adopt new technology like AI, NLP, ML and predictive analysis.

Job description of a fractional chief business officer:

The fractional chief business officer is a part-time role under which the CBO will entirely manage sales, marketing and business development activities. They will formulate and implement sales and marketing strategies for the business. The CBO will report to the CEO.

Standard pay package of a fractional chief business officer:

In pursuit of increasing revenue, you do not have to spend extra money because a fractional CBO is a cost-effective business solution. They have flexible and scalable remuneration that is based on multiple factors. They are inexpensive than an in-house fractional CBO. Some factors determining the cost of a fractional CBO are years of experience, the nature of the project, industry and company size.

How does COHIIRE help you find the best fractional CBO?

COHIRE employs a comprehensive 8-step process for onboarding an expert fractional CBO. The following steps are:

Step 1: Tell us your business needs and the need for a fractional CBO.

Step 2: We publish an ad to attract the best applications.

Step 3: ATS records, tracks and skims through the applications.

Step 4: We shortlist the best profiles for a review

Step 5: You meet the experts for an interview

Step 6: Understand the strengths and skill sets of the candidate through  relevant case studies

Step 7: We conduct a thorough background check based on references

Step 8: Onboard the perfect fractional CBO in your company

Why choose COHIIRE for onboarding a fractional chief business officer?

COHIIRE understands that onboarding a professional is a meticulous task that needs some expertise. Our hiring experts simplify the process by using up-to-date technologies and methodical hiring processes to find the best-fit fractional chief business officer for you. However, we go above and beyond to make your experience memorable. We offer conflict resolution and mitigation services in case of a crisis.