Delivering on Strategy: The Role of the COO
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The document discusses the role of the Chief Operating Officer (COO) in growing businesses. It finds that COOs can exist in companies of all sizes, from those with 10-35 employees to over 100 employees. The key responsibilities of a COO vary but commonly include human resources, budgets, administration, legal, and finance. Less common responsibilities include product, partnerships, manufacturing, and business development. Ultimately, all COOs live or die by helping deliver on the company's strategy and objective of growth.
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Delivering on Strategy: The Role of the COO
- 2. Delivering On Strategy; The Role of the COO What does a COO actually do? (In Growth Businesses)
- 3. COO PRE-PANEL PRESENTATION CEM GURALP / 06.12.2013
- 4. Things we learnt from the survey: 1. Every size of company can have a COO 2. The key responsibilities of a COO 3. All COOs live or die by one thing
- 5. 1. Every size of company can have a COO
- 6. COOs In The Room • 2 Founding COOs • 3 COOs at companies with 10 – 35 people • 2 COOs at companies with 35 – 100 people • 2 COOs at companies with over 100+ people • All are growing and have investors…
- 7. Suster Disagrees… ‘‘It’s pretty tough to convince me in a company of less than 50 people the CEO … can’t manage various areas of the business’’ Mark Suster bothsidesofthetable.com
- 8. 2. The key responsibilities of a COO
- 9. The Key Responsibilities of a COO 9 COOs gave us 21 different key responsibilities COMMON HR / RECRUITING BUDGETS ADMIN LEGAL FINANCE CUSTOMER SERVICE UNCOMMON PRODUCT PARTNERSHIPS MANUFACTURING PRODUCT MONETIZATION OFFICE MOVES DELIVERIES CONTENT STRATEGY MARKETING BIZ DEV BUSINESS INTELLIGENCE ANALYTICS PHYSICAL STORES GROWTH MANAGEMENT FUNDRAISING
- 10. FD With A Little Extra Thrown In? • Finance is the primary concern • But not the only one • Operations etc. are all rolled into the finance role • Then this is called COO…
- 11. The Nature of the CEO Decides… • Companies still need contracts, offices and infrastructure • Why is this the role of the COO? • “Because no founding CEO sets up a company to do the accounts and legal”
- 12. 3. All COOs live or die by one thing
- 14. So, what we’ll talk about now… • Should smaller companies have COOs? • How the COO role changes as companies grow • Understanding and defining growth • How a COO can track their performance • Defining Org Charts • Your questions
Editor's Notes
- Thanks for all coming down here this morning, delighted to see you all
- At first glance ‘what does a COO do’ seems like an uncomplicated questionBut when you try and answer it can be struggleShortly we’ll be hearing from COOs with immense experienceBut before then I’m going to try and frame discussion around some findings of a survey I conducted
- I talked to a number of COOs before the eventThings we learnt from the survey were…
- First up, every size of company can have a COO….
- There are start-ups in the room making all kinds of strategies workSo evidence suggests that all size companies can have a COO
- This is a quote from Mark Suster, respected partner at Upfront VenturesHe says…
- Moving on from size, what are the key responsibilities of a COO in a venture backed business?
- 9 COOs gave us 21 different key responsibilities, I had hoped to define a stereotypical org chart from this data, but as you can see, that’s impossibleOrg charts are again something we’ll be looking at laterHowever, certain responsibilities were more common than othersBut lets look at the most common for a minute.
- Just about every early stage growth company’s COO I talked to, they said finance and budgeting is a key considerationCFO COO CombinePerhaps this is one argument as to why a COO can be justified in an earlier stage business.What follows from this is that the role of the COO will change as the company grows, But who decides what a COO does?
- It is the nature of the CEO that decides what a COO doesAs we all know, it is crucially important to ensure the proper process are in place to allow a business to runThings like…And as we saw in the previous slide, this often falls to the COO.Defining these operations requires both authority and judgement ….So in a growth business, certainly up to a certain size, the role of the COO comes down to a doing what the CEO isn’t prepared to do, or capable of doing.
- All COOs are united by one common cause
- Product managers are concerned with productSales with revenueMarketing with customer acquisition Biz Dev with partnerships HR with recruitmentAs we’ve seen a COO can share many of these same interests, so you might think a COO was concerned with all of the above But COOs are really enablers, They allow the company to functionIn growth businesses, that can mean a host of different things In one example, one COO was concerned with ‘product monetization’ In another example..In growth businesses then, COOs can do anything…