When to hire a COO
When do you need a COO?
- When you recognize, as visionary/founder, that you can no longer do everything in the house to achieve your dreams. In other words, you recognize the value in delegating/elevating & letting go.
- When you need to scale quickly, because the operations side of the house is where the "rubber meets the road" whether you sell products or services. For example, what if you have "kick-ass" salespeople and you can't deliver?
- When you're spending more time on operational issues than strategic issues. In other words, as CEO/President, you're already working 60-hour weeks routinely, have no time for your spouse, kids or dogs and you're out of bandwidth.
- When you need to get out ahead of this thing instead of playing catch-up all the time.
Next time: Different types of COO's