Is a Fractional Chief Product Officer Role Right for You? - with John Zilch (Part 2)
Welcome to the new edition of Lean Product Growth.
Today we continue the discussion with John Zilch, a passionate product leader with over a decade of product experience in various product roles.
In Part 1 of our discussion with John, we delved into the evolution of product management and the challenges faced by full-time product managers today.
In this article, we shift our focus to a slightly different topic. We’ll delve into one increasingly popular product management role: the Fractional Chief Product Officer (CPO). We’ll unpack what this role entails, the benefits it offers, and when companies should consider hiring one.
John is a product leader, with over a decade of experience in product management. Throughout his career, he has held numerous product management positions, most recently serving as the Senior Director of Product Management at SugarCRM.
Today he is the founder of Breakthrough Ventures, providing Fractional Product Management and Product Marketing Services to software companies. He combines his Fractional CPO responsibilities with teaching product management courses to undergraduate students at Province College.
Interim CPO, Fractional CPO, and CPO Advisor: What's the difference?
These are different terminologies that are sometimes misunderstood.
In my view, an Interim CPO typically steps in temporarily to cover for someone on leave or until a permanent replacement is found. They are there to maintain continuity and stability and ensure things run smoothly during transitions.
On the other hand, a CPO Advisor works quite differently. Advisors usually operate on a retainer model, providing strategic advice for a few hours each week or month. They do not get deeply involved in day-to-day operations, but you know you can turn to your advisor when an important decision needs to be made. Some might even work for equity instead of direct payment.
A Fractional CPO role is a different form. This role is typically part-time and can be long-term. Companies hire Fractional CPOs when they need the expertise of a CPO but don't require someone to be present full-time. Typically, a Fractional CPO focuses on high-impact activities, dedicating, for example, about 20 hours a week. It's a cost-effective model for growing companies that need experienced leadership without the full-time commitment.
How effective can a Fractional CPO be in a part-time role?
The nature of the Fractional CPO role is such that makes your work very effective. As a Fractional CPO you have high responsibility, but limited time. That gives you focus. You are following the 80/20 rule, focusing exactly where you have most impact.
If I went full time, I think I would end up working on that 80% on things that would provide little impact to the company.
In the past when I was in a full time role, I remember sometimes sitting in a 3 hour meeting, with very little contribution. I was thinking: “This is not the right thing to do and be paid for”.
With the focus that the Fractional CPO is following, you can offer high value to the company but for much less hours.
When should a company consider a Fractional CPO role?
I think the Fractional CPO role works best for smaller companies that need a CPO but don’t require full-time engagement. This cost-effective model allows growing companies to access the expertise they need without committing to a permanent full-time role.
In a smaller organization, it is an advantage that constant interaction isn't as necessary as it is in larger companies. Because of this, smaller organizations can benefit from the effectiveness and focus that a Fractional CPO can provide.
This role is particularly useful when specific expertise is needed that the company doesn't possess internally. A smaller organization might not have a mature product management structure in place and can hire a Fractional CPO to fill specific gaps.
For example, my background in analytics and CRM has been a great fit for my current role. So, if a company has a specific objective and needs outside help, a Fractional CPO can add significant value.
How do you compare your experience as a part-time CPO vs full-time?
I really enjoy the flexibility and freedom of working part-time.
Full-time roles sound that they offer higher job security, but there is a big concern and pressure of finding the next position if things don't work out. On the other side, part-time contracts offer an easy way out if things don’t go as expected.
Part-time work fits my personality better, allowing me to explore different ventures and diversify my income. It also provides better financial security since I can have multiple clients. Additionally, I appreciate the freedom to try different things, such as teaching.
Fractional roles help me stay sharper and more focused. They require me to deliver value without getting bogged down in less impactful activities. This approach brings me greater fulfilment as I can provide more value through my work.
Is there anything you miss in your current role as a Fractional CPO?
The part I miss the most in my current role is the in-person interaction. My current role is remote, which is quite common for a Fractional CPO engagement. While this provides a lot of flexibility, I do miss the live interactions with clients and colleagues.
That’s partly why I'm spending some of my time teaching. Teaching allows me to be in a physical classroom, interacting directly with students and other professors.
What skills do you think are essential for success as a Fractional CPO?
As a Fractional CPO, you need to be a self-starter with a high level of curiosity. Companies hire Fractional CPOs to tackle challenges or mysteries they haven't been able to solve. Without a blueprint to follow, you must leverage your expertise, curiosity, and creativity to solve unique customer problems.
You must quickly grasp product situations and understand both the product and its customers. The ability to explore, solve problems rapidly, and mobilize the team into action is essential. You need to swiftly identify and address issues, explore possible solutions, and lead the team to implement or experiment with them.
Focus and discipline are crucial characteristics for this role. A Fractional CPO must address the specific challenges the company faces, always aligning efforts with the company’s goals. This requires a strong sense of prioritization, being highly oriented around the company’s objectives, and avoiding less critical issues. It's important to filter out distractions and concentrate on the company’s core goals.
What would you advise someone considering to transition to a Fractional CPO role?
Exploring a role as a Fractional CPO can be highly rewarding. It offers flexibility, diverse experiences, and the freedom to explore different ventures.
However, it's crucial to ensure that this path aligns with your personality, skills, and expertise. While expertise is essential, having the right personality is equally important. If you are adaptable, proactive, enjoy solving unique problems, and thrive on focusing on high-impact tasks, this role could be a perfect fit.
Seek out companies where you can provide the most value, and enjoy the benefits this dynamic role offers.
We thank John for this insightful conversation.
If you want to connect with John and explore more of his insights into Product Management, be sure to check out his writings on Build it Ship It.