10 Lessons Learned When Going from Full-Time to Fractional

Moving from a regular full-time role to fractional work? Get ready for a whole new world! Pretty much everything changes when you make this leap. The good news is that once you know what you're in for, you can totally rock your new fractional gig. I put this cheat sheet together so you can avoid stepping on some of the rakes that I did. This info covers some of the big stuff you'll need to think about when making this transition.

1. Understand tax implications: As a fractional employee, you are often an independent contractor responsible for paying self-employment taxes and understanding deductions. Make sure you are informed on tax requirements.
   

2. Define the engagement terms: Ensure scope, compensation, duration and other specifics are clearly outlined for a project or ongoing fractional employment. Get contract details formalized. Scope creep is a real thing and can become a big problem quickly.
   

3. Ask about expense reimbursement: Find out if any work-related expenses like travel, supplies or tools are covered. Detail what qualifies and payment protocols.
   

4. Clarity on role flexibility: Be clear on expectations for work hours, locations and availability. Ensure your client understands the nature of parallel fractional work. You’ll have other clients, so they can’t treat you like a full-time employee (but they may try).
   

5. Build in performance conversations: Since fractional gigs often lack structured reviews, directly ask for periodic feedback. Discuss ideal success measures together.
   

6. Have a transition plan: Discuss hand off protocols for when the engagement inevitably concludes. Plan to document work and contacts to ease transitions.
   

7. Expand your network: Use fractional work as a chance to establish powerful contacts and skill-building relationships for future opportunities.
   

8. Emphasize business impact: Even if in a fractional role for a brief period, highlight delivery of outsized business results tied to key goals. Quantify your impact when possible using data. This enhances perceived value to secure future work.
   

9. Explore flexible extensions early: Don't wait until the last minute of a fractional engagement to discuss the potential for extensions or follow-on projects. Give the client ample runway. Be open about interest in continuing work.
   

10. Request referrals and references: As many fractional gigs are obtained via word-of-mouth, request that clients and colleagues be references and provide introductions for future opportunities. This builds your credibility.