Gerald Lombardo
March 22, 2023
11 min read
The role of Chief Operating Officer or COO is a dynamic C-level position. As with most of the top positions, being COO changes with time, industry, and between companies. A startup COO may, for instance, wear many hats but, over time, develop a tighter focus on production or other high-level operational aspects of running a business.
So, although the position varies, there are certain qualities common to all COOs. One, is that the COO is generally a corporation’s 2nd highest ranking executive. Two, the COO is responsible for running the business’s “day-to-day” operations.
What day-to-day operations? This too depends. For former COO of Meta, Sheryl Sandberg, daily operations encompasses a huge range of responsibilities from setting advertising and partner strategies, to rolling out new products, managing policy, and more. But for whichever kind of COO you want to be, Popl is here to help with everything you need to know about how to become a Chief Operating Officer.
As a company’s second-in-charge, the COO reports directly to the Chief Executive Officer (CEO) and works closely with other members of the executive team to develop and implement strategies to achieve the company's goals. The COO is responsible for managing the company's resources, including financial, human, and technological resources, to ensure that the company is operating efficiently and effectively. The COO also plays a key role in managing the company's relationships with stakeholders, such as customers, employees, suppliers, and regulators. In some cases, the COO may also be responsible for overseeing the company's marketing and sales efforts.
The specific responsibilities of a Chief Operating Officer (COO) can vary depending on the size and nature of the company, as well as the industry in which it operates.
Though many people look at COO’s as those focusing solely on the nuts and bolts of running a business, it is important that they also work on developing their interpersonal skills. The role of a COO touches on every department, from marketing, to sales, to customer service, and each of those entities have people that lead them, so the lack of ability to foster a collaborative and cohesive relationship can be detrimental to a business.
~ Matt Miller, Founder of Embroker
Some important COO responsibilities may include:
As a Chief Operating Officer (COO), operational management would be one of your primary responsibilities. Your role would involve overseeing and optimizing the day-to-day operations of the organization, ensuring that they run smoothly, efficiently, and cost-effectively. Here are some of the ways that operational management might look like for a COO:
As Chief Operating Officer (COO), one of your primary responsibilities is to help manage the company's resources. This includes financial resources, human resources, and physical resources. Here are some of the ways that COOs help manage a company's resources:
COOs can help manage and nurture important relationships by building trust, listening to feedback, collaborating, managing conflict, and networking. By focusing on building strong relationships with key stakeholders, COOs can help to create a culture of success and drive the organization towards its strategic goals and objectives.
Here are some ways that COOs can help manage and nurture these relationships:
COOs can have a significant impact on sales and marketing efforts by aligning strategies, improving customer experience, analyzing data, optimizing processes, and implementing marketing technology. By taking a strategic approach to sales and marketing, COOs can help their organization achieve its goals and drive growth in the following ways:
The first step toward any goal is often the most difficult. If you're goal is to be a COO, here's the first step Lillian Chen, COO of BarNone Games, suggests
In some cases (like with Popl’s Nick Eischens) the COO is one of a company’s founders. Other times, COOs will be hired to come in at later stages to help companies grow. Because of the diversity of ways into the COO position there is naturally a wide range of different paths aspiring executives can take to get there. You can easily make the case that simply doing great, consistent work is always the best recipe for career success. But as far as specific recommendations, here are some things to consider if you want to be a COO:
Being a great COO means synthesizing an array of skills: technical, business, and, of course, leadership skills.
I believe that the most important skill for any COO is the ability to think strategically and to develop innovative solutions to complex problems. Additionally, a COO should have excellent communication and interpersonal skills, as well as the ability to motivate and inspire their team.
~ Lilian Chen, COO of Bar None Games
Here are some of the most important skills for an effective COO:
In some cases, technical skills are also highly valuable,
Technical prowess is beneficial for this role since many operational problems require quick decision making using data analysis or software solutions that can automate processes such as accessing customer information quickly during customer service interactions or generating reports from previous sales figures easily without having an additional staff member generate them daily manually which could consume more time than necessary.
~ Richard Nolan, Chief People Officer at ePOS
The salary of a Chief Operating Officer (COO) can vary widely depending on factors such as the size of the company, the industry, and the region. According to the data from the Bureau of Labor Statistics (BLS), as of May 2020, the median annual salary for chief executives, which includes COOs, was $184,460. However, salaries can range from around $70,000 to over $500,000 per year, with additional compensation such as bonuses, stock options, and other benefits.
It's important to note that executive compensation is often influenced by a number of factors, including the company's financial performance, industry trends, and the COO's experience and qualifications. In addition, salaries can vary significantly depending on the company's location, with COOs working for companies located in larger metropolitan areas generally earning higher salaries than those working for smaller organizations in less populated areas.
There have been many famous COOs throughout history, here are just a few you can look to for guidance, advice, and inspiration.
Experience is one thing (and certainly it’s essential), but if COO is what you want then you’ll also need to do your homework. No, this is not a painful process - or, at least, it shouldn’t be.
When it comes to “studying” the COO position, something as simple as REGULARLY watching YouTube videos on business and management topics can have a major positive impact to your professional development. Here are some helpful ways to educate yourself and advance your journey to becoming a Chief Operating Officer:
So, the COO role is both complex and rewarding, challenging and dynamic…But is it worth it? Is thejuice worth the squeeze?
There you have it, everything you need to know about how to become a Chief Operating Officer.
Whether you’re fresh out of college, or just a step away from the C-suite, it is always helpful to zoom out and make career decisions with a clear and calm state of mind. Understand what you want and where you’re going, and go for it.
Becoming a COO does not happen overnight,nor should it. Why? Because being a Chief Operating Officer requires diligence, patience, and attention to detail. These skills you will hone naturally over time as you work toward the position. So embrace the day-to-day ups-and-downs of the COO career path – and learn from them.
Good luck!
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