10 Sep What’s Missing in Your Boardroom?

For many small to mid-sized business (SMB) CEOs, wearing multiple hats is just part of the job. It’s not uncommon for a CEO to find themselves juggling both their primary responsibilities and those typically handled by a Chief Operating Officer (COO).

While this dual role might seem manageable at first, it often leads to unintended consequences. Partnering with a COO on your vision allows you to focus on steering the company toward its goals. But, when you’re pulled into the nitty-gritty of operational execution, it can distract you from your core mission as CEO.

I’ve seen this scenario play out time and time again with the CEOs I’ve worked with over the years. It’s a complex challenge—one that can be difficult to navigate and even harder to get back on track. But the good news is, it’s far from impossible. I’ve witnessed many CEOs successfully turn things around by addressing this issue head-on.

Is Your COO Seat Empty?

If your company is currently operating without a COO, it’s important to ask yourself why the role is vacant. Here are a few common reasons:

• Is it a financial decision? Maybe the cost of hiring a full-time COO seems prohibitive.

• Have you been told a COO isn’t necessary? Perhaps you’ve received advice suggesting that your company doesn’t need this role.

• Do you simply prefer to handle both roles yourself? Some CEOs enjoy being deeply involved in operations and feel confident managing both responsibilities.

• Or, maybe the right candidate just hasn’t come along? Finding a COO who aligns with your vision and company culture can be a daunting task.

Each of these situations is unique, and there’s no “wrong” answer. However, if you’re serious about bringing a COO on board, there are modern solutions that can help you do so without straining your resources.

Exploring New Solutions

You don’t need to break the bank to get the operational expertise your company needs. One option to consider is hiring a fractional COO. This approach allows you to benefit from experienced leadership and guidance at a fraction of the cost of a full-time hire.

Additionally, if you’re concerned about relinquishing too much control, it’s worth noting that many COOs prefer a collaborative relationship with the CEO rather than taking a top-down approach. This can provide you with the support you need without feeling like you’re losing your grip on the company’s direction.

Maximizing Your Business Growth

Ultimately, the goal is to ensure that your company has the support it needs to thrive—on your terms. By bringing on a COO, whether full-time or fractional, you can focus on what you do best as a CEO: leading your company toward growth and success.

If you’re interested in exploring how a COO solution could benefit your business, I’d be happy to discuss your options. You can contact me here via my website or email me directly at michael@consultstraza.com.