First Capital released insights from Esty COO Linda Kozlowski in their article "Make Operations Your Secret Weapon - Here’s How"
Some of the insights are extracted below:
What does a COO do?
"The COO role is custom to every company and requires deep self-awareness from the CEO and founder to outline the specific skills and qualities they need in a partner."
Five traits a COO should have:
- Proven Execution
- Ego checked
- Chemistry with the CEO
Questions a CEO should ask themselves before hiring a COO:
- What am I drawn to?
- What do I procrastinate on?
- What do I wish I knew and liked?
Questions a CEO should answer to confirm it's the right time to hire a COO:
- What kind of help do I need? Why do I need it? How will it address an obstacle?
- How strongly is this obstacle influencing the company?
- What exactly will this person do to alleviate the impact from this obstacle? How will that change over the next quarter and year?
Onboarding a COO:
Once a COO joins a company, it will only be successful if the proper transaction is put in place.
"Team members will want to keep reporting to you as the CEO, despite the updated org chart. The way a CEO handles this transition can either underline or undermine the importance of a COO"
Read the full article here.