Fractional Product Executive

Executive-level product management expertise without the delay, cost, or commitment of hiring full-time.

As companies grow, their product management needs evolve, often requiring more consistent, strategic leadership. However, not all organizations can justify hiring a full-time executive, particularly in the initial stages or during transition periods. This is where Fractional Product Executives come in, as a flexible, cost-effective solution that provides high-level part-time product leadership.

Engaging New England Product Group to provide Fractional Product Executive expertise is a strategic move when your company needs experienced leadership to navigate growth, transition, or complex projects but does not require or cannot afford a full-time executive. Whether for scaling operations, handling a short-term leadership gap, or providing mentorship, a Fractional Product Executive engagement with NEPG brings deep expertise, flexibility, and cost-effective solutions to help drive product success.

How a Fractional Product Executive Works

Fractional Product Executives offer companies the strategic leadership they need to build and scale products effectively without the long-term financial burden of full-time hires. They are a flexible, impactful solution for companies in various stages of growth. Fractional Product Executives offer part-time but consistent leadership and are ideal for companies that need ongoing strategic direction without the overhead of a full-time hire.

A Typical Fractional Product Executive Engagement with New England Product Group

Part-time long-term strategic support
Either on consecutive days or spread throughout the week, subject to availability
Work remotely with travel for meetings as needed.
e.g. 1-3 days a week for 12-18 months or longer

Scope and Roles of a Fractional Product Executive

Part-Time, Ongoing Leadership: Fractional Product Executives provide continuous, high-level product leadership on a part-time basis. They are usually embedded within the organization, leading teams, setting product strategy, managing product teams, and driving execution over time. Their role involves hands-on management, mentoring teams, and making strategic product decisions that ensure alignment with business goals. Fractional Product Executives typically stay involved for several months to a year or more, overseeing the product function's evolution and ensuring alignment with business goals. They offer continuity, which is crucial for implementing long-term strategies.

Strategic Ownership: Unlike consultants, Fractional Product Executives take ownership of product leadership, guiding teams and making strategic decisions over a sustained period, though without the full-time commitment of a permanent executive. They help steer product roadmaps, team structuring, and ongoing product development and are accountable for the success or failure of the product initiatives.

Flexible Engagement: Fractional Product Executives work part-time but maintain a continuous presence, often working a few days a week. They are embedded in the company's operations, overseeing execution and mentoring teams. They provide leadership without the need for a full-time hire, offering flexibility while ensuring sustained progress - providing a cost-effective solution for companies that need executive-level product leadership but do not have the budget for or need a full-time hire.

Long-term Leadership Needs Without Full-time Commitment for Growing or Transitioning Companies: Companies in growth or transition phases that require ongoing leadership and strategic direction but are not ready to commit to a full-time executive hire. Organizations in periods of scaling, restructuring, or new product launches where ongoing leadership is required but a full-time executive is not yet justified. These companies can often benefit from Fractional Product Executives to provide stability and direction.

Companies Without Product Leadership: Businesses lacking a senior product executive need strategic guidance to manage product teams, set product vision, and ensure alignment with business goals.

Advantages of a Fractional Product Executive

IMMEDIATE impact with a Seasoned Product Management Leader
ECONOMICAL compared to a Full Time Product Executive
MENTORSHIP that empowers your existing team
BEST PRACTICES: Guidance on Product Management tools, processes, and frameworks
FRESH PRESPECTIVE: Uncover blind spots and find overlooked opportunities

A Fractional Product Executive from NEPG is ideal for organizations that require ongoing strategic leadership but do not need—or are not ready to commit to—a full-time executive. They provide high-level oversight and hands-on leadership at key growth stages without the long-term financial and operational commitment of a permanent hire. Fractional Product Executives provide leadership and expertise on a flexible, often more cost-effective basis. Their value is increasingly recognized and utilized in startups and larger companies.

Here is why they are valuable:

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Access to High-Level Expertise: Fractional Product Executives are seasoned leaders with a deep understanding of product management, product strategy, and team dynamics. Companies gain access to this high-level expertise without the commitment or cost of hiring a full-time executive. This expertise is particularly valuable for startups and small companies that need guidance but cannot afford full-time C-suite hires.

Cost Efficiency: Hiring a full-time senior product executive can be costly, particularly for smaller companies. Fractional Product Executives offer a more cost-efficient option, delivering expertise and results at a fraction of the cost while still driving significant value.

Scalable Leadership: If the company moves from a startup phase to growth or from growth to enterprise, an Interim Product Executive can help set up the systems and processes needed to scale effectively, including product development cycles, team structures, and go-to-market strategies. For companies in transitional phases, like scaling, product pivots, or restructuring, Fractional Product Executives provide scalable leadership. They help set strategic direction, mentor product teams, and establish processes, ensuring the company's product development efforts align with its growth goals.

Building Scalable Teams: Interim Product Executives can work on developing a scalable team structure, ensuring that the product organization can grow alongside the business. Activities can include structuring product teams to handle increased complexity, dependencies, and market expansion.

Fresh Perspectives and Best Practices: These executives often work with multiple companies across various industries, bringing diverse perspectives and insights. They introduce best practices and innovative ideas that internal teams entrenched in their working methods might overlook such as OKRs (Objectives and Key Results), continuous discovery, rapid prototyping, and data-driven decision-making, which can have long-lasting benefits. This is especially beneficial for product strategy, discovery, and scaling operations.

Revamping Product Strategy: Use them to revisit and refine your product strategy, especially if the company faces challenges with product-market fit, customer dissatisfaction, or competition pressure. They can bring a fresh perspective to identifying core issues and setting the direction for success.

Improving Product Development Processes: Interim Product Executives can assess existing processes and suggest improvements, such as shortening development cycles, optimizing the product discovery and delivery phases, and ensuring that feedback loops between engineering, design, and product teams are efficient.

Flexibility and Focus: Fractional Product Executives allow companies to bring in leadership for specific projects or during critical phases, such as launching a new product or entering a new market. They focus on high-impact areas requiring senior oversight without a long-term commitment.

Mentorship and Team Development: Besides driving strategy, Fractional Product Executives mentor and develop in-house product teams, helping less experienced product managers grow into more senior roles. One of the most valuable contributions of an Interim Product Executive is the mentorship they provide to existing product managers. They can coach your internal team on leadership, product management principles, customer-centric thinking, and stakeholder management.This ensures that the company's product function becomes self-sufficient over time.

Strengthening Team Dynamics: Interim Product Executives can foster collaboration within cross-functional teams, aligning product managers, designers, engineers, and marketing. Their experience in managing complex teams can help improve efficiency and team synergy.

When to Engage a Fractional Product Executive

A Fractional Product Executive from New England Product Group can provide flexibility and top-tier expertise without the cost of a full-time hire.

Here is an overview of when and why your company might choose to engage with NEPG.

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Need for Strategic Leadership Without Full-Time Commitment

When your organization needs experienced product leadership but does not require a full-time executive, a Fractional Product Executive is a great option.

Example: Your company undergoing a transition or pivot needs guidance on product direction but does not have the budget or workload for a full-time Chief Product Officer (CPO).

Scaling Product Operations

Suppose your company is growing and needs expertise with scaling product teams, operations, and strategies. In that case, a Fractional Product Executive can step in to ensure the implementation of scalable frameworks.

Example: A startup that has achieved product-market fit but needs to build out its product team and processes to sustain growth.

Strategic Product Leadership During a Transition

When your company is between full-time product leadership hires, Fractional Product Executives can fill the gap to maintain product momentum and ensure no strategic missteps occur while searching for a permanent executive.

Example: After a senior product executive departs, a fractional leader can keep the product strategy on course while you search for the right long-term hire.

Launching a New Product or Entering a New Market

Suppose your company is preparing to launch a significant new product or enter a new market. In that case, a Fractional Product Executive can help craft the go-to-market strategy, oversee the product launch, and ensure market fit without a long-term commitment.

Example: A tech company entering a new geographical market or launching a new vertical product line needs guidance on tailoring its product strategy to the new audience.

Crisis Management or Product Turnaround

When a product or product line is underperforming, your company can engage a Fractional Product Executive to diagnose the problem and implement turnaround strategies without needing a full-time hire.

Example: If sales are dropping or customer feedback is negative, a Fractional Product Executive can quickly evaluate the product's roadmap, team structure, and customer needs to put it back on track.

Mentorship for an Inexperienced Team

If your product management team is new or inexperienced, a Fractional Product Executive can provide mentorship and leadership while the team matures and gains the skills to handle their responsibilities independently.

Example: A startup with junior product managers who need hands-on coaching and strategic oversight to grow into their roles.

M&A or Integration Leadership

During mergers and acquisitions, a Fractional Product Executive can help align the product strategy between the two companies and integrate product teams to ensure a smooth transition.

Example: Following a merger, the company needs product strategy alignment between two previously independent teams and systems.

Short-Term Strategic Projects

A Fractional Product Executive can lead the project if your company has a high-impact, short-term initiative like implementing a new product development process, transitioning to Agile, or improving cross-functional collaboration.

Example: Your company that wants to implement continuous discovery processes needs someone with expertise but does not have a long-term leadership need.

Why Engage a Fractional Product Executive from NEPG?

New England Product Group brings 25 years experience in product management helping tech companies create innovative products providing exceptional customer & stakeholder value, while accelerating time to market & ROI. Utilizing NEPG for a Fractional Product Executive can be highly effective, especially for startups, growing companies, or organizations in transition.

Here reasons for why to engage a Fractional Product Executive from NEPG:

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Cost-Effective Expertise

A Fractional Product Executive allows you to tap into C-suite-level talent without the cost of a full-time executive salary. The benefit of doing so is particularly advantageous for startups or smaller companies that need senior-level guidance but cannot justify the cost of a permanent hire.

Benefit: Access to top-tier product leadership without long-term financial commitment.

Flexibility and Focus

Fractional Product Executives provide flexibility to scale up or down depending on the company's needs. You can engage them part-time for specific projects, challenges, or company growth phases.

Benefit: Ability to adapt the level of leadership involvement based on evolving business needs.

Fast Implementation and Results

With years of experience, Fractional Product Executives can quickly assess the situation and required actions, providing faster results than hiring someone new who would need time to adjust to the role and culture.

Benefit: Immediate impact and acceleration of product strategy without the onboarding time required for a fresh full-time hire.

Objective External Perspective

Fractional Product Executives bring an outsider's viewpoint, free from internal biases, and can objectively assess product strategies, team dynamics, and processes. That outside perspective helps identify blind spots or opportunities internal teams may overlook.

Benefit: Objective analysis and fresh strategic insights that challenge the status quo and drive innovation.

Experienced Leadership for Growing Teams

As companies scale, they need seasoned leadership to guide growth. A Fractional Product Executive can help set up the processes, team structures, and strategic direction necessary for scaling without requiring a permanent hire.

Benefit: Senior guidance for building a scalable product team and structure, ensuring long-term success.

Mentorship and Team Development

Fractional Product Executives often focus on mentoring and developing internal product teams. These activities can leave a lasting impact by strengthening the company's internal capabilities and leadership, even after the Fractional Product Executive's engagement ends.

Benefit: Increased long-term value as your internal team develops the skills and leadership to run product operations independently.

Focus on High-Level Strategy

Fractional Product Executives are ideal for focusing on big-picture strategy and aligning product direction with the company's business goals. They can ensure product efforts are tied directly to revenue generation, customer satisfaction, and competitive positioning.

Benefit: Ensures product management aligns with overall business objectives, driving growth and profitability.

Avoiding Burnout of Existing Teams

When your current product team is stretched too thin, a Fractional Product Executive can relieve some of the pressure by handling high-level tasks and decisions. Adding them prevents burnout and allows the team to focus on day-to-day execution.

Benefit: Provides high-level support without overloading the current team, improving overall productivity and morale.

Schedule a free discovery call to discuss your needs and how NEPG can help.

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