Fractional executive is a term that's spread fast and means very different things in different rooms. Before you sign an engagement letter, here's what to ask.
01 - Have you done this job?
Not advised on it. Done it. Sat in the seat, owned the outcome, lived with the consequences. There's a difference between a consultant who has been in adjacent rooms and an operator who has held the same role you need filled. Both have value. They aren't interchangeable.
02 - Who is actually doing the work?
Some fractional executive firms are senior people on the cover and analysts on the inside. Ask who you'll be working with day-to-day. Ask for examples of their work, not just the principal's. Ask how often you'll see the principal directly.
03 - How is success measured?
Hours? Deliverables? Outcomes? You want a clear answer, and ideally the answer is some combination of the second and the third. Hours-based engagements without deliverable definition end in mismatched expectations.
04 - What happens at the end?
A good fractional executive is building themselves out of a job from day one. Ask what the handover looks like, what the team is expected to be capable of by the end, and how the engagement winds down. If the answer is vague, the engagement is likely to be open-ended.
05 - Do you carry the right professional registrations?
Sector matters. If you're a clinical organisation, registration matters. AHPRA, ACNC, NDIS Worker Screening - these aren't credential theatre. They're a signal that the person on the other side of the table has skin in the game.
06 - Can I talk to your last three clients?
Any senior operator should be able to give you three references quickly. Not curated testimonial videos - actual people whose number you can dial. If that feels uncomfortable to ask, the discomfort is itself information.
07 - What will you say no to?
A genuine senior partner will tell you what they don't do, what they won't take on, and what they'd recommend you find someone else for. Anyone who says yes to everything is selling, not advising.
Anyone who says yes to everything is selling, not advising.
The smell test
In the end, you're trusting someone with a seat at your executive table. Trust your instincts. If the conversation feels like a sales pitch, it probably is. If it feels like a conversation between operators about a real problem you have, you've probably found the right person.
