Business Management Consultant FAQ
You’ve got questions, and we’ve got answers. Contact us if we did not cover a question you have on how Growth Point Partnership can benefit your business.
What is a Fractional COO?
A COO, or Chief Operating Officer, oversees the day-to-day operations and administrative functions of a business. The position is a vital part of any business. When businesses need an interim or partner to assist with their operations, they call on fractional COO services. It allows them all the benefits of the position in a more cost-effective way.
What is executive coaching?
A branch of business coaching, executive coaching focuses on collaborating with business owners to develop and execute a comprehensive business strategy. They target areas that need improvement and execute a plan with the goal of long-term growth. In some cases, they create value to improve the long-term price of the company for owners wishing to sell.
Who is best suited for Fractional COO services?
A business between 5 to 100 employees that can’t sustain a salaried, internal COO. Partnering with a Fractional COO opens up a lot of doors. The business gains a high level of expertise at a fraction of the time and cost.
How do you request Fractional COO services?
After receiving your inquiry through our contact form, we reach out to set up a free consultation. One of our team members will go through our assessment during the meeting, and we ask about an hour of your time. It covers topics like potential gaps in organizational and planning structure, basic margins, and your goals. Once we learn more about your business, we follow-up with a free quote and an outline of what it would look like to accomplish the objective.
Does a business consultant help my long-term budget?
There’s a cost to procrastination. During the initial assessment, we can calculate what delaying a solution will cost you long-term. In most cases, it benefits a business to invest in executive coaching services. A business with strong processes and growth plans will positively affect all areas like your bottom line, employee satisfaction, and overall company value.
What can our Fractional COO services help with?
Overall, we focus on business strategy and operational execution. We create a strategy based on research and our expertise and then transform it into an executable plan for our clients. Our branded Growth Point System drives EBITDA margins and offers a variety of additional resources.
What does a Fractional COO do?
A Fractional COO partners with a business to improve key areas like operations, business strategy, revenue cycle, sales development, and more. They devise a plan customized to the client and their end goal. While working with the company, they learn the business’ budget, systems, and culture to truly understand their unique position.
Who do our Fractional COOs work with?
We typically work with the CFO, CEO, or Vice President of a business. Essentially, our services excel when collaborating with someone who has the authority to make a difference.
Why not hire a full time COO?
It typically comes down to budget. COOs are executive positions with a high salary, and they may not cover every need. For example, a candidate might have a strong financial background but not a sales background. The business will then need to fill the gaps. By hiring a Fractional COO, the company also gains their resources. A Fractional COO can bring in experts to cover all areas, so you have a whole executive team at your disposal for a fraction of the cost.
How long does a project typically last?
A project typically lasts from 3 to 9 months. It depends on the solutions, goal, and how open the owners are to collaboration. We work with your schedule but ask for your time and dedication during our partnership. A project moves smoothly and on schedule with regular communication.
How much does it cost to hire a Fractional COO?
We offer a range of customized services to fit your budget.
- $175 per hour consulting services with no monthly retainer
- $500 introductory business plan
- $1,500 per month for Fractional Advisory COO retainer
- $2,500 per month for Fractional Advisory Plus COO retainer
- $3,500 per month for Fractional COO retainer
Read more on our services page.
Our team is committed to partnering with business owners, executives, and entrepreneurs to accelerate the creation of company value.
Growth Point Partnership Mission Statement