They are venture funds. Clear: In the uncertain future of the next few years, as the Fed seeks to reverse its decades-long monetary policy, CEOs’ mandate should:
- Cut burn
- low growth
- Manage carefully to profitability.
This is a tough pill to swallow for founders planning to accelerate growth this year. Open Twitter and you’ll find a cacophony of founders, investors and advisors advising you on what to do next: Reduce your product offerings. Freeze all hiring; Consider mass reduction.
The fact is, you can still reduce burnout for lack of growth and manage it to profitability. In fact, this is how the winners of this fall will pull ahead.
Large companies must freeze hiring to manage their high risk levels. If you are an entrepreneur, this is good news for you.
So what does that look like?
Fractional hiring is the cheat code for growth.
We’ve been operating like a fisted business for almost a decade, so we know how to forecast budgets around very conservative scenarios and adjust within 30-day or 90-day windows. This has allowed us to be not only profitable but also ethical. In the year Faced with economic turmoil in March 2020, we quickly adjusted budgets to maintain our growth rate.
Instead of pausing hiring and slowing down our team’s ability to execute, we employ a fractional model for hiring. As we’ve grown our headcount over the years, we’ve always tried to bring on key people first as (usually part-time) contractors and then convert them to full-time employees.