GNT #54: The Truth about Fractional

read time: 2.5 minutes

The world of work is evolving, and "Fractional" roles are at the forefront, especially in marketing, IT, and finance.

But what does this mean for you, the aspiring Fractional professional?

As a Fractional worker since late 2021, I'm diving into the heart of this flexible work style and sharing 3 things I wish I knew before "going Fractional."

Let's get to it.

But first, what the heck is Fractional?

Picture it as a professional buffet.

Fractional work enables you to offer your expertise to various companies on a part-time or contract basis, rather than working full-time with one employer.

Fractional could be 1099 (you are an independent business, responsible for your own taxes, health insurance, etc.) or W-2 (you work as an employee under an agency or directly with a business). 

Or a combo of both!

There's really no wrong way to do it as long as:

1. There are needs that needs to be met
2. You can achieve the results or fulfill those needs
3. Both you and a potential client agree on what that looks like

No doubt about it.

This model is changing traditional work structures, blending autonomy with its own set of challenges.

Now, the complexities I wish I was better prepared for...

1. More flexibility, more challenges

Be prepared for the double-edged sword of flexibility.

Sure, fractional work grants unparalleled freedom, but it also introduces unpredictability in income and schedules (if you let it).

It requires boundary-setting like none other and extreme clarity and communication.

But, it paves the way towards an entrepreneurial "portfolio life," where juggling different roles and projects becomes the norm, but they are of YOUR choosing and aligning with YOUR passion.

Questions to ponder:

-Does this freedom/risk scenario align with your vision?
-How can you prepare for this?
-What boundaries should you make?
-How much risk are you willing to take on?

5 Boundaries Every Growth-Builder Needs

2. Beware the skills vs. opportunities dilemma

Fractional work opens doors to a wide range of projects, industries, and experiences.

This enables the development of diverse skill sets.

But...

It can also lead to a lack of specialization.

Questions to ponder:

-Do you want to be a niche expert or a generalist?
-What type of work are you willing to take on as you transition?

3. Networks can grow, but relationships can suffer

Building a robust network, especially on platforms like LinkedIn, is crucial for your Fractional career.

However, this can sometimes overshadow the depth of personal relationships.

Maintaining a close group of advisors is vital for balanced growth.

Keep a tight personal board of advisors.

Takeaway

In my case, I'm so happy I made the choice to move to a Fractional model of work. 

It allows me the opportunity to choose work that I'm passionate about and also gives me the time and space to explore new entrepreneurial ventures like Saunable, Good Plane Living, and growth-coaching 1:1 with individuals.

I've worked harder and had to set more boundaries than I ever have in my life, but moving to Fractional has set off a cascade of life-changing and incredible opportunities I never would have imagined possible.

You are the in the driver's seat of your work. Where do you want to go?

See you next week.

p.s. Curious about how fractional work could fit into your life? Let's chat about the systems I use and how they might work for you. 

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