1. Fractional v Interim v Consulting
It's easy to confuse the variety of non-traditional product leadership jobs these days.
You can think of a simple 2x2 to distinguish them.
You ask 2 questions:
• Do you lead product?
• Are you full-time?
This breaks down the four types:
Lead product & full-time: Interim CPO
Lead product & part time: Fractional CPO
Don't lead product & full-time: Regular PM
Don't lead product & part-time: Product Consultant or Coach
There is a nuance in 'lead' here. There are some fractional roles where the team doesn't report to you.
(Though one of the fractionals we talked to call that "having one arm tied behind your back.")
2. History of the Role
Fractional roles like accounting are as old as commerce. But, in product, they are much newer.
It started in the 90s, with the rise of an adjacent role: the interim product role.
The interim product role grew steadily. More and more companies and startups found it worked to solve their problems.
Then, with the rise of the fractional CTO role, companies started to accept or even look for more fractional leaders in R&D.
In the last 5 years, the role really took off. In pandemic-era ZIRP, it even went a bit berserk.
With roles becoming remote and workers exercising more control than ever, both supply and demand boomed.
Now, in the post-ZIRP era, fractional's pullback hasn't been as steep as full-time PM. Because those companies with tighter budgets are even more likely to see the value in a fractional leadership role.
As a result, the fractional CPO role as a whole has continued its up-trend.
3. Who Hires Fractional CPOs?
There's a million scenarios where you might want a senior professional, paid by the day, who has done the job before.
But, from our conversations with 20 fractional product leaders, there are 4 "sweet spot" scenarios that fractional CPOs fit in really well:
Scenario 1 - Startup
Startups have been the original consumer of interim roles, and they continue to power fractional roles. They often have the tight budgets that require it.
Scenario 2 - Scale-Up
After a fundraise, companies often want to invest in new areas, and a fractional leader can come in quickly to help with that.
Scenario 3 - Turnaround
When things aren't going right, and product isn't pulling its weight, a turnaround is often in order. Fractional CPOs are often called in these situations.
Scenario 4 - Bridge
When somebody unexpectedly leaves, or goes on parental leave, is often when companies want to turn to someone senior they can hire on a time-limited basis.
4. Fractional CPO vs Fractional PM
Fractional CPOs lead product. They're working on product vision and strategy.
They're not reporting to another CPO. That's a fractional PM role.
If they're full-time, they're Interim CPOs.
This post was originally shared by Aakash Gupta on Linkedin.