Fractionals Unplugged with Jay Kingley

Omid Sadati discuss the importance of product market fit for early-stage companies. Key takeaways include:

• Product market fit is crucial for the success of early-stage companies.
• Founders need to be comfortable with being uncomfortable and continuously learn and grow.
• Critical and strategic thinking are essential in navigating the complexities of achieving product market fit.
• Engaging with customers and validating assumptions is key to understanding their needs and preferences.
• Frameworks and models can be helpful, but they should be used in conjunction with critical thinking and a deep understanding of the business context. Entrepreneurship is about finding meaningful problems and solving them in a meaningful way.
• Understanding people and their motivations is crucial in building successful products and businesses.
• Product market fit is about aligning with the customer's vision and serving their needs.
• Collecting feedback and validating ideas is an important part of the product development process.
• Resilience and curiosity are key traits for personal and professional growth.

Connect with Omid on LinkedIn.

Connect with Jay

Email me at [email protected] to set up a conversation to discuss your gap and if it is large enough what you can do to close it. Also email me if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

The lack of awareness of the label 'fractional' is not the main reason why fractional executives struggle to get clients. Fractional executives need to differentiate themselves and communicate their intellectual property to stand out in a market with an vast oversupply of fractionals. Success as a fractional executive depends on redefining the market and focusing on value rather than the label. Labels are useful in marketing but irrelevant in sales; clients hire based on the ability to make a positive impact on their business. The focus should be on communicating one's genius or intellectual property rather than obsessing over the label.

00:00 The Myth of Awareness

01:25 Defining Fractional Executives

03:22 The Price vs. Value Dilemma

04:52 The Catastrophe of Supply and Demand

07:45 Insight and Wisdom: Meeting Demand

10:16 The Importance of Communicating Genius

Connect with Jay

Email me at [email protected] to set up a conversation to discuss your gap and if it is large enough what you can do to close it. Also email me if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

When I want to be the best I can be, I look to how those rise to the top in Darwinian industries - sports, entertainment, the the C-suite. I've put together 7 lessons that fractional executives can learn from the NFL:

1. Repetition is key to improvement. Treat every interaction as a learning opportunity and reflect on what you've learned.

2. Practice before you play. Implement a rigorous process to find the right people to practice on before going after your ICPs.

3. Measure your performance and take responsibility for your results.

4. Focus on becoming an expert in your area of specialization.

5. Strategic game planning is crucial. Take the time to research and create unique engagement plans for each prospect.

6. Build a team of coaches and experts to help you succeed.

7. Develop resilience and mental toughness to overcome challenges and reach your full potential.

Connect with Jay

Email me at [email protected] to set up a conversation to discuss your gap and if it is large enough what you can do to close it. Also email me if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Carla Titus, a Fractional Chief Financial Officer of Wealth Worth Within, discusses the challenges faced by business owners in managing their finances and the solutions she provides. She helps business owners evaluate how their billable hours are impacting performance and profitability, and she assists in making data-driven decisions to improve financial outcomes. Carla's ideal clients are sophisticated business owners who struggle with the complexity of financial decision-making. By working with her, clients see increased profits, improved cash flow, and better compensation for themselves. Carla emphasizes the importance of proactive planning and scenario analysis to navigate uncertainty and achieve business goals.

In this episode, she makes these points: Fractional CFOs help business owners evaluate the impact of billable hours on performance and profitability; Proactive planning and scenario analysis are essential for navigating financial complexity and uncertainty; Financial management is crucial for business success and requires expertise and strategic decision-making.

Email Carla at [email protected]

Connect with Jay

Email Jay at [email protected] if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Subscribe to our YouTube channel by clicking here.

Rich Daniels, a Fractional General Counsel, talks about the importance of legal risk mitigation for small and medium-sized businesses. Rich explains that his role is to help businesses save money, mitigate risk, and focus on their core business. Rich discusses common contract issues and the consequences of not understanding contracts.

Kay takeaways from the episode include: Fractional General Counsel provides personalized legal advice tailored to the specific needs of small and medium-sized businesses. Contracts are a critical aspect of business and should be thoroughly understood to avoid legal issues. Business owners often overlook legal risks, but being proactive and addressing legal issues can save money and protect the business.

Email Rich at [email protected].

Connect with Jay

Email Jay at [email protected] if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Subscribe to our YouTube channel by clicking here.

How do you know when a prospect will buy or pass. Here's what you need to know:

* Qualifying prospects involves determining if they meet the fit and impact criteria.

* Understanding what prospects believe about their future is crucial in predicting their buying behavior.

* Prospects are more likely to buy if they believe their future will be worse than the present.

* Providing hope and offering solutions that align with prospects' goals and timeframe is essential.

* Convincing prospects that working with your company offers high ROI and is the best alternative is key.

Connect with Jay

Email me at [email protected] to set up a conversation to discuss your gap and if it is large enough what you can do to close it. Also email me if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Taylor Crane, founder of Fractionaljobs.io, discusses how Fractional Jobs is an open job board connecting companies with fractional talent. Fractional Jobs does not act as an agency and does not charge a percentage fee. Fractionals can join the network by entering their email address and do not need to create a profile or pay any money. Fractional Jobs sends job opportunities to fractionals based on their function area, and they can choose which ones they're interested in. The platform is designed to be a no-brainer for fractionals looking for work.

Email Taylor at [email protected].

Connect with Jay

Email Jay at [email protected] if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Subscribe to our YouTube channel by clicking here.

Paul Arugs is a fractional chief customer officer, serving B2B and B2C services industries with Au$5m - Au$100m annual revenue with 20 - 200 employees. Paul helps mid sized companies embed data-driven customer strategy across their organizations. This fosters a more evidence based, customer centric culture that focuses on capability rather than campaigns to drive sustainable growth.

In this podcast, Paul drops many insights including how monthly and quarterly targets place companies on a short term, sales and lead gen based treadmill, making it difficult for even the leadership team to look more than 6 months ahead; and that lowering customer acquisition costs in and of itself is the wrong way to look at it.

Email Paul at [email protected].

Connect with Jay

Email Jay at [email protected] if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Subscribe to our YouTube channel by clicking here.

Ben Wolf, founder and CEO of Wolfs Edge Integrators provides fractional Integrators and COOs to growing mid-market companies. Ben's focus is on building a roster of team-first Integrators to serve clients. Ben provides deep insight into the challenge the solo fractional COOs face in building their business and how Wolfs Edge Integrators solves the business development challenge. He also shares his move from an independent contractor model to one of partnership.

Email Ben at [email protected].

Connect with Jay

Email Jay at [email protected] if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.

Subscribe to our YouTube channel by clicking here.

... so why are you still doing them?

95% of fractional executives base their sales process on starting with a discovery call or conversation. How do you know if your prospect has one or more issues that you can help them with if you don’t ask? Whether you must do a discovery conversation depends on your level of genius or as the lawyers like to call it your intellectual property.

Fractionals with insight and wisdom don’t do discovery conversations because they don’t need to discover. Prospects engage with these fractionals to discover the truth as to why they are in pain or why an opportunity seems out of reach. In this discovery conversation, the prospect learns from the fractional the path forward allowing them to go from squalor and misery to prosperity and success.

If you have insight or wisdom, then stop doing discovery calls and start helping those in your target market discover what’s holding them back. Every time you do a discovery call, you are telling your prospect you’re average.

Connect with Jay

Email me at [email protected] to set up a conversation to discuss your gap and if it is large enough what you can do to close it. Also email me if you're a fractional executive, fractional community leader, or fractional community marketplace proprietor and would like to be a guest on our show.