“Success is not just about making money. It's about making a difference.” – Kathy Calvin
As a business owner, the responsibility of building a successful sales strategy can feel overwhelming.
A primary debate is whether to opt for a full-time sales team or collaborate with fractional sales executives.
Both have their unique advantages and disadvantages. Let's shed light on both options, helping you make the best decision for your business's specific needs and goals.
Defining the Options: Full-Time Sales Teams or Fractional Sales Executives
Full-time sales teams are made up of full-time employees who work exclusively for your company with a base salary, commissions, and benefits in a traditional sales department. They are an integral part of your organization. They are involved in the day-to-day operations, attend a variety of internal meetings, and are dedicated to selling your product or service.
On the other hand, fractional sales executives are seasoned sales professionals who offer their expertise and leadership on a part-time or fractional basis. This gives you access to decades of sales experience and proven strategies without the financial and time commitment that comes with a full-time sales team.
1. Financial Implications: A Cost-Benefit Analysis
Maintaining a full-time sales team can be quite expensive, particularly for your growth-stage company. Beyond salaries, you must consider costs related to benefits, training, infrastructure, and other overhead expenses.
On the flip side, fractional sales executives provide a more affordable alternative. You only pay for the number of hours or days each week that you need access to their high-level sales expertise. No salary, no benefits, no expensive overhead.
2. Talent Acquisition: Leveling the Playing Field
Attracting and retaining top-tier full-time sales talent can be a daunting challenge, especially for a business without strong brand recognition.
Fractional sales executives level the playing field by bringing their years of experience, proven sales strategies, and deep industry expertise.
3. Scalability: Flexibility vs. Stability
Full-time sales teams provide stability. Your sales team is in the office or online 9-5ish Monday through Friday. If you need to increase your sales efforts, you hire more full-time employees to reliably work 40 hours each week. However, the financial commitment involved does not offer flexibility.
Conversely, fractional sales executives allow you to swiftly scale your sales efforts up or down in response to business needs, market fluctuations, or budgetary changes. You can do this on a month-to-month basis. This dynamic scalability ensures you have the right sales resources at the exact time you need them.
4. Focus and Specialization: An In-Depth Look
Full-time sales teams, deeply engaged with your business's product or service, can offer a high level of focus and product knowledge. They understand your brand and can communicate its value effectively.
On the other hand, fractional sales leaders have experience working across various businesses. They can bring you fresh perspectives, innovative strategies, and a broad knowledge base. This diversity can provide a significant advantage in an ever-evolving market.
5. Risk Management: Testing Waters Safely
If you are still exploring the most effective sales strategy or venturing into new markets, fractional sales executives offer a way to test the waters without the risk and commitment of hiring a full-time team.
By measuring the success of different sales strategies implemented by fractionals, you can make more informed decisions about when and why to build your full-time sales force in the future.
6. Time Management: Leaving it to the Experts
When you opt for fractional sales executives, they free up your time to focus on what they do best – innovating and improving their core product or service.
Leaving the sales strategy and execution to experts improves efficiency and leads to more effective sales outcomes.
Choosing between a full-time sales team and fractional sales executives isn't a universal decision.
It depends on a variety of factors including your business's size, budget, growth stage, and specific needs. While growth-stage B2B SaaS companies might find more value in the flexibility and cost-effectiveness of fractional sales executives, larger enterprises might benefit more from the stability and dedicated focus of a full-time team.
Malloy Industries specializes in providing growth-stage companies with expert fractional sales executives services tailored to your unique needs and objectives. Whether you're a startup looking to scale efficiently or an established company needing fresh strategies to make more money, we're always here to help.
Schedule a meeting with us today and let's work together to create a sales strategy that raises your revenue.