You’ve already reached a certain level of success in your business and you want nothing more than to see it continue to grow – to be profitable, to be successful, to be valuable. But, you’ve stalled. You know something is missing or needs to change, but not sure quite sure what that is.
As a business owner, it is important to know the next steps to continue the success of your business.
Well, here it is. The next step.
Your business needs a partner, a solid right-hand leader to help implement structure and processes within your business and be a thought partner with you.
When you’ve reached the point financially and operationally, you need to consider hiring a Virtual COO to help you in the day-to-day leadership responsibilities and operations so you can stay laser-focused on what you do best in your business. I know what you are thinking, but unfortunately, you cannot do it all!
This is a turning point in your business and a big step, so it’s crucial to know what to look for in that person. Below are 5 characteristics to look for in your COO:
1-Leadership
One of the first things you want to look for in your COO is leadership skills – strong leadership skills. Look for someone who has had prior leadership experience. What they don’t need to have is prior leadership experience in your particular industry, but again, they should have experience leading other people.
When you are interviewing candidates, don’t just ask them about their past leadership experiences. Ask them questions about how they would handle different situations that may come up in ‘your’ business.
2-Patience and Urgency
You’re busy, you want to stay ahead and I’m guessing that you like to hit the ground running each and every day to stay ahead. So, that means you need someone who can keep up with you and your business. Your Virtual COO must be able to quickly act on a decision you make as well as make decisions on day-to-day operation related activities.
On the flip side, you also want someone who can slow it down too. Someone who understands what it takes to grow a successful company – someone who is patient and understands how much time and effort goes into growing your business. Having a leader on your team who is a go-getter, but is also patient is really key to moving your business forward. You don’t want someone who is going to hold you back, but you don’t want someone who’s going to make too many decisions too quickly.
3-Team Accountability
One of the key responsibilities of your COO will be holding your team accountable and making sure that the day to day operational activities are efficient and the work is getting done. You don’t want to be the one to have to manage the team AND the work AND grow the business.
Keep in mind that if you want a COO who can hold your team accountable, you will need someone that your team can trust and will respect them as a leader in the business.
Some of the ways you can do this are by ensuring that the COO understands each part of your business — this will not only help the COO become more familiar with the work that your team does but will help them keep the team on track and know exactly how the business should be running.
You also want to be clear with your team on the role of the COO and the value they are bringing to the business. Without doing this, the team can feel threatened or that they aren’t doing a good job. You definitely don’t want to send that message.
4-Implement New Processes and Procedures
Your COO will be someone who has previous leadership experience as well as someone who has been involved in developing and implementing processes — that way, they should be able to do the same in your business. You want them to be able to understand and document the current processes and also be able to work with you to clearly articulate and understand the new processes and procedures.
This is a supercritical skill in order to further grow and develop your business. I can’t stress it enough. You want to ensure you have someone on your team who will help you implement structure and processes to keep you moving forward.
5-Believe In Where You Are Going
Another important thing to look for in your Virtual COO, which is right up there with leadership skills, is that they understand and believe in where you are going – they support you in the vision you have for your business. You don’t want to hire someone who doesn’t believe in what you are doing or support you in where you are going. That doesn’t help anybody.
Having the support of your right-hand person is key to getting to that next level of your business. Your Virtual COO will need to not only work with you but your team as well — all moving in the same direction, toward the same goals.
Ultimately, you want to find the right Virtual COO for you and your business. While searching for this person, take notice of what they love to do and their goals. If they are in line with your own, you are on the right path to finding the partner and solid right-hand leader you desire for your business.
This information is compiled into the infographic below. Bookmark this post as a go-to and refer to it when you are ready to hire a Virtual COO.
If you’re not already doing so, be sure to follow me on Facebook.