The Belief That Broke
That's another thing you said that stood out to me. One organization doesn't define your stability. I think that's something a lot of people are having to come to that harsh reality. How is that mindset shift? When did that happen for you?
So that all came together in my mind for me when I was in a layoff situation that I was not expecting, where I was told that I did a great job, and realized that okay, nothing is guaranteed.
Becoming Her Own Asset
“One organization doesn't define your stability as a professional. It's that you have built your own brand and you are your biggest asset.”
You can put all your eggs in one basket with one organization and give it probably more of yourself than you should, or you can have your own business with multiple organizations making a broader impact with more than one company. And having the stability even if one client needs to go another direction, you have others on the bench with you on your team where you can really still have more stability.
I had frankly seen a lot of failed entrepreneurship. And it was a little scary to think of doing. But in really looking at it and evaluating it, it's not that scary when you really break it down and realize that unlike in another organization where you're dependent on their priorities and their budget and their profitability, when you work for yourself, you are dependent on yourself. And I believe in myself as an asset more than probably most other organizations.
Building The Fractional Practice
When you reach the peak of your career and you're at the C-suite, it's like, where else do you go from there? I'd be curious to hear, tell me about this fractional executive model. How did you hear about it? How did you get into it?
The fractional model is actually really great on both sides. For me, there's a good value, and I can continue growing, I can continue adding clients to the extent that I have the capacity to do so. So I'm not capped in that sense.
For instance, they might have a budget of 150k for a COO, but they can't find someone with enough experience and strategic mindset to really bring their organization to the level they want, where if they work with a fractional, you can get somebody who has 15, 20 years of experience, like I do...
“Don't hire a mediocre executive, rent a great one.”
Still Working On It
You are the premium product. I think it's true that you have to recognize your own value and even sit down and write it down and quantify it. And even now I'm still doing that. Like I'm actually going to sit down sometime this week, hopefully, and be able to go back to strategy a little bit and go back to, okay, how are we describing our products and services.
Some people, when I place COOs at organizations, sometimes those interviews, they just talk about what they did. And some of them, they're very strategic and they really quantify the benefit that they're bringing to the table... not just having your laundry list of things that you've accomplished, but what those did and what the impact is.
“You have to recognize your own value and even sit down and write it down and quantify it.”
