WHY DO I NEED A CHIEF OPERATING OFFICER (COO)

Do you as a CEO have aspirations to achieve the following in the next 1-3 years?

• Growth (sustainable Y-on-Y).

• Profitability (whilst looking after all stakeholders).

• Robustness (lowering your risk).

• Agility (speed to move and make better decisions faster).

• Increased Shareholder Value.
   

Do you find there is a void between your vision and the execution of the vision?

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As a small business, you may think that a COO role is not required as a CEO I should be able to carry out both role, but have you stopped to define what your role is and if are you spreading yourself too thin?

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Each senior role in a company has a specific function and requires a person with those defined skills to carry them out e.g. CFO. As a CEO would you dream of managing the finance function, or would you appoint a qualified person to carry out this function and report progress to you?

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As a CEO you may find yourself wearing many hats and so your time is too fragmented in dealing with too many operational tasks to concentrate on what you should be doing as a CEO, being strategic, creating/updating the business plan, being the face of the company, being a good public communicator, and leading the company to success. If these get ignored, as you have pressing operational matters, are you hampering your company’s journey to greatness?

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Therefore have you considered hiring a Chief Operating Officer?

 

A COO builds the bridge between your company's strategy and its performance. A COO will add significant value to your organisation, accelerating its ability to grow, its profitability, its robustness and its agility.

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Hiring a COO  will carry out the day-to-day operations and so can relieve you of the “bandwidth-sapping” nature of these day-to-day operations and allow you to concentrate on what you are good at and what you enjoy about being the CEO / leader of the organization.

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A COO will do the following;

• Build Teams – exploit your biggest resource to its full advantage.

  • Fit for purpose teams that are the backbone of the organization.

  • Drives engagement.

  • Builds process ownership.

• Transform Culture – embrace the new normal.

  • Deal with disruption.

  • Competitor’s (changes in the market place and added competitors).

  • De-centralized workforce.

• Company Connectedness – Standard processes and systems company-wide.

  • Systems – develop core processes to link all teams.

  • Data – harness the power of data and make sure it is common, accurate and timely to transfer away from “gut-feel” decisions to ones backed up by the numbers – make you an company.

  • Confident and better decision making throughout the company - Agility.
     

Now that we have helped you understand the about how much you need one, can I afford one? The simple answer is yes, by using a consultant who specializes in your size of business.