The Chief Operating Officer (COO) plays a massively important role in any significant company’s overall success. While the CEO is the Chief Storytelling Officer, the COO makes the trains run on time. The CEO sets the direction and makes the promises – the successful COO delivers on them.
Steve Jobs as CEO and Tim Cook as COO are great examples. I find it useful to think of the two roles as a bicycle – the CEO is the front wheel, the COO is the back wheel. But that’s being rude to COOs – they do so much more.
With responsibilities including operational oversight, governance, and decision-making on a myriad of both day-to-day and long-term issues and areas, the COO is an essential player in the company’s overall success. However, for a COO to truly play their part, they must keep their skillset up to date and be constantly on the ball.
The COO’s role is to ensure that the company’s operations run smoothly and efficiently. This requires a deep understanding of the company’s processes, systems, and workflows. A successful COO must excel at optimising operations, driving process improvements, and consistently ensuring that the company meets its operational goals.
COOs need to combine strategic thinking at the highest level, but also make sure that systems are in place for packages to be delivered on time and to the right address. They need to be like helicopters – at home and in touch with everything at every level of the company.
Skills of a Successful COO
Strategic Thinking
Beyond day-to-day operations, a COO must also be a strategic thinker. This involves aligning the company’s operational activities with its long-term strategic goals. A successful COO should be able to see the big picture, anticipate challenges, and identify opportunities that can propel the company forward.
Leadership and Time Management
The COO is a key leader within the C-Suite and must be adept at managing teams and fostering a collaborative work environment. Strong leadership skills enable a COO to inspire and motivate their teams, manage conflicts, and drive collective success. Effective team management also involves delegating responsibilities and ensuring that all departments work harmoniously toward common objectives.
Financial Awareness
While COOs are not typically the financial leaders of a company, having a solid understanding of financial principles is crucial. This financial awareness allows the COO to make informed decisions that align with the company’s budget and financial goals while managing complex supply chains and the associated cash flow issues. Collaborating closely with the CFO, the COO must ensure that operational strategies are financially viable and sustainable.
Communication Skills
I would say this, wouldn’t I? But it is true!
Clear and effective communication is vital for a COO, who must convey complex ideas to various stakeholders, including the CEO, board members, employees, and external partners. A COO must be able to communicate the company’s operational strategies and progress clearly and persuasively, ensuring that everyone is aligned and informed. This involves a huge amount of communication skills, especially for the COO of a global company.
Problem-Solving and Decision-Making
COOs are generally the ultimate go-to problem solvers within a company. They must be quick on their feet, able to assess and respond to situations fast, and make informed decisions, often under extreme pressure. Whether it’s resolving operational bottlenecks or navigating crises, strong problem-solving skills are critical to a COO’s success.
Technical Proficiency
In today’s digital age, technological proficiency is a must for a successful COO. Understanding how to leverage technology (and AI, which deserves to be name-checked separately) to improve operations, enhance productivity, and gain a competitive advantage is crucial. A COO must stay up-to-date with technological trends and innovations that can impact the company’s operations, sifting out the relevant from all the noise.
Customer/Client/User Focus
A successful COO must always consider the end customer. This customer-centric approach ensures that the company’s operations and strategies are aligned with customer needs and expectations. Whether the company serves consumers, businesses, or users, understanding and prioritising their needs is key to long-term success.
I have heard it said that the salesperson sells the first car, but the service department sells every subsequent car. The COO is the delivery person essential for any company that wants to be successful. Back to the bicycle analogy, you need the front wheel AND the back wheel to move forward.
