The Underrated Power of the COO

In a company, the Second-in-Command, also known as the COO, fills a vital role.  COOs complement and support the CEO in a variety of ways.  The COO’s specific role depends on the CEO’s needs, the company’s stage, and the overall strengths of the leadership team.

There are seven main ways that COOs support the CEO.  These COO types are the executor, the change agent, the mentor, the other half, the partner, the heir apparent, and the MVP.  Each type has a different method of aiding the CEO.  For instance, the change agent leads specific business changes, whereas the MVP stays in the company because they are too valuable to lose.

Across all seven types, there are three consistent traits of successful COOs.  The first trait is acuity.  This means that COOs can easily understand complex concepts and handle multiple tasks at the same time.  The second trait is organization, meaning that COOs can define priorities and allocate the proper time, energy, and resources to tasks.  Finally, successful COOs excel with process and structure.  This refers to the ability to reduce complexity, systematize processes, create clarity, and provide consistency.

Despite their utility, successful COOs are exceptionally rare.  In fact, for every four CEOs, there is only one COO.  This leaves 75% of CEOs without the support of a COO.  Additionally, other challenges abound for COOs, causing extensive problems that inhibit success.  For example, many COOs struggle with worker shortages, a lack of clarity regarding their role, and supply chain disruptions.

Even amongst all of these challenges, there has been a resurgence in the COO role, with the position rising up to 16% between 2018 and 2022.  With this in mind, it becomes increasingly important to identify and implement modern solutions that will allow COOs to successfully fulfill their roles.

Peer groups and coaching emerge as some of the most effective ways  that individuals can support COOs.  Peer groups involve recurring meetings with other COOs.  They have four key benefits.  More specifically, peer groups can improve decision-making capabilities, increase goal attainment, enhance innovation and the identification of growth opportunities, and fuel continuous learning and professional growth.

COO Coaching is also highly successful and helps COOs in several ways.  It improves clarity and accountability, keeps the company aligned and moving forward, and accelerates results.  Coaching can increase individual performance by 70%, team performance by 50%, and organizational performance by 48%.  Overall, coaching can result in a return on investment of up to 788%.

Finally, business operating systems can also be useful to COOs.  This system increases valuation with world-class Key Performance Indicators, breaks down silos and increases retention, and helps achieve business goals within 12 quarters.

COOs have a big and important task, and they need support to effectively reach their goals.  Modern solutions such as peer groups and COO coaching, as well as innovative tools and systems, can go a long way in supporting COOs and boosting business. Companies should focus on empowering COOs with proper training, guidance, and resources.  In turn, efficiency will increase and revenue will boom.