What are the differences between a fractional expert, a freelancer, and a consultant -- and what does it mean for my business? Here's a concise breakdown for those needing to hire external expertise for the first time. Gain clarity about which type of professional is best for your short- and long-term strategic goals.
Here at Fractional, we (unsurprisingly) see fractional roles as very different from both freelancing gigs and consulting agreements. I thought it’d be a good time to delve into what we have in mind when we use these terms.
A freelancer is someone you hire when you know what needs to be done and don’t have the available time or expertise in-house to accomplish it. Freelancers are hired to perform tasks; great freelancers perform them reliably, well, and on time.
A consultant is someone you turn to when you do not know exactly how to get the results you’re after -- usually because the solution requires deep knowledge outside of your areas of expertise. Their advice helps you make the right decision for your company. After that, it's still up to you and your team to put that plan into action.
A fractional professional is who you bring in when you need both expertise and implementation -- and you can’t or don’t want to hire someone with the necessary skills full-time. Also known as fractional specialists, fractional executives, or fractional experts, these professionals take much more leadership and ownership of your project and its outcomes than they would in a typical freelancing gig, though their “hands on the keyboard” time is still usually less than 40 hours/week.
Here’s how these differences usually play out.
Fractional roles are integrated more deeply into the company's core leadership or strategic team. They are hired not just for their skills, but also for their knowledge, and what value that knowledge can help create for the company. Because of this, they are usually more heavily involved in the company’s decision-making process. Fractional professionals can also be quite hands-on in the implementation of the plans they help craft -- often requiring working closely with employees at many org levels throughout the company, depending on the scope of the project.
Freelancers generally provide a service or complete a project without deeply integrating into the client's organizational structure. Consultants, on the other hand, are generally completely disconnected from the "boots on the ground" in all but the smallest organizations.
Some fractional roles persist with a company for a fairly long term. The professional may remain with the company for years on retainer, or they may be approached repeatedly for future projects. Some roles even evolve into full-time employee roles.
Freelancers, however, usually work on shorter-term projects or tasks with a more defined start and end date, and may more easily juggle multiple projects simultaneously for different clients. Consultants are also likely to provide services for many different clients, but they usually do so on a longer-term or ongoing basis
Fractional work is often both strategic and hands-on, involving decision-making, leadership of freelance talent or even existing employees, project management, and specialized expertise in one or more particular fields, and frequently involves doing some or all of the hands-on work themselves, depending on the project's budget and timeline.
Freelancers typically focus on executing specific tasks or projects, such as copywriting, graphic design, software development, or other creative and technical services. Consultants, on the other hand, are usually disconnected from the day-to-day operations of the business, and instead are tasked with providing insight and perspective related to meeting the company's highest-level goals.
Fractional professionals usually have a more consistent and ongoing relationship with their clients, somewhat like a part-time employee or even an advisory board member.
Freelancers may have repeat clients, but each project is typically distinct and separate, with a more transactional relationship. Consultant relationships are more likely to be long-term than fractional roles.
As you can see, there are a number of differences between the way we use the terms “fractional professional”, "consultant", and “freelancer” here at Fractional. While there’s not yet industry-wide consensus on these definitions, I hope that by clearly defining our own usage we can help avoid some unnecessary confusion.
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