The eCommerce business landscape is rapidly changing, with companies striving for customer excellence. However, it is hard to keep ahead of the curve because of new trends and technologies.
Companies often face challenges that require specialised expertise or guidance outside of their internal resources. This is where fractional advisors come in. Fractional advisors, or consultants, will have years of experience in their field and often fulfil a C-Suite level role during their time in a business. But how do you know when it is the right time to hire one?
When expertise is lacking
Every eCommerce company will have areas where in-house expertise is lacking. From navigating complex financial matters to implementing cutting-edge technology, there are often gaps in knowledge. This is a clear sign to bring in someone with the expertise you seek to focus clearly on the issue at hand. A fractional advisor can do just this, bringing specialised skills to the table, and offering solutions that may not be available internally.
When projects are short-term
Many business challenges will require short-term assistance and are often project-based in nature. So, it doesn't always make sense to hire a full-time employee for this. Fractional advisors can step in to address the specific problem, guide short-term initiatives, and provide solutions tailored to your immediate needs.
When your business is growing rapidly
As your business experiences growth or undergoes significant changes, the internal team might not be equipped to handle new challenges effectively. Fractional consultants can provide strategic guidance to help you navigate expansion, adapt to changes, and make informed decisions.
When budgets demand caution
Hiring a full-time C-Suite executive or team with the expertise you need can be costly. For smaller companies or startups with limited budgets, this just isn't a possibility in growth stages. A cost-effective alternative can be found in the form of fractional advisors. Working on a part-time or project basis, they offer valuable insights and support without the financial burden of a full-time hire.
When strategic planning is imperative
Strategic planning requires a focused skill set and an outside perspective can be invaluable during these times. A fractional advisor can offer fresh insights and unbiased strategic decision-making. This ensures that your plans are well-informed and effective.
It’s important to note that the need for a fractional consultant varies for each business. Every situation is unique, and the decision to bring in a fractional advisor should be based on a careful assessment of your specific needs and goals - it is not the same as hiring contractors or interim staff.
Bringing fractional consulting to the eCommerce industry
If any of these signs resonate with your business, it may be time to consider engaging a fractional advisor. The eCommerce industry is ever growing and we are in touch with fractional consultants who have worked in this amazing industry from the very beginning! Want to find out more? Simply click below to find out more about our 'Fractional Talent' services.