Loading...
Answers
MenuWhen is the right time to get a COO?
Answers
it sounds like you've already answered your own question – you needed a COO yesterday.
I would disagree with your CMO that adding a COO is just adding "another layer". It is, in fact, what keeps the lights on. If your house isn't in order, everything else falls apart. With 26 employees, one of your biggest ongoing challenges will be your culture, and managing the morale, motivation, and performance of your people.
Outside investors are interested in a number of things – not the least of which are your operating margins, who does what, and how efficiently the whole organizational structure is organized and communicates.
One last thing: don't make the mistake of just hiring for skills or experiences. Fit is especially critical in a COO role. if you haven't done so already, define your culture, define your vision, define your values. Then work on developing a performance-oriented job description for the COO, then start your search. In that order.
I'm happy to jump on a call to talk more, and help to strengthen the business case to your CXX colleagues if needed.
I'd like to recommend bringing this problem to your Advisors. Letting some third parties play in the business. Maybe your CMO and current team are concerned with the equity split or time it takes to bring someone else on and get up to speed.
Have you considered bringing in a consultant to deep dive inside the company. It's ALWAYS good to get outside perspective so if internally you can't agree, I'd bring in third party to help us identify what is needed.
I'm not a COO guy I'm a CMO level guy. I know there are people out there that could help.
Hi, there is a maxim "structure follows strategy"; as per your words, you have clear points about your strategy, goals and the road you want to follow.
It looks like you already have a C level meeting and there is a clear need; you are in a realignment and sustaining success situation so go ahead hiring the COO, sometimes democracy is not the best choice.
Related Questions
-
What does a business development role entail when it comes to hiring?
I think you should first really step back and ask if you need that role filled. Are your sales growing? Are they growing as quickly as you'd like? Do you think someone could push that needle? I've worked at companies with strong focus on sales and some where there were no sales people at all. It depends on your niche and who your customers are. Depending on your outreach methods, perhaps you need to hire someone with a strong sales background who's going to pick up the phone and start cold calls all day, or maybe you just need someone to handle your marketing better and help you out with some Adwords campaigns. Business Development is a big term, and it can cover a lot of things, most commonly sales... but salespeople aren't right for every business. So, look at your existing success. What sorts of things bring in the money now... and look to amplify those existing efforts before you go breaking new ground. You should be looking for someone who complements your existing success and can continue to tell that story, in your existing playing fields, and gradually moving into new areas. I know this was a vague answer, but I hope it helps.SL
-
How did the Xero accounting SAAS solution scale?
Xero's subscription model helps them grow sustainably. They have trained and positioned Xero experts around the globe. The experts serve a region and sign up subscribers underneath them. By targeting professionals who may already have a client base that is in Xero's target market (for example, CPA's who advise startups or Bookkeepers who may be searching for something more user-friendly than Quickbooks) they have been able to scale quickly. It helps that their user interface is intuitive, as well.CA
-
What is a better business growth strategy: selling more of the same product, expanding product offering, or both?
First I would try to figure out why your conversion is not great. Also a level deeper finding out what a normal conversion rate in your market actually looks like. There are markets that have naturally low conversion rates - are you sure that yours is below market standard? If yes - this would be my first point of action. Increasing conversion to or above market standard. As long as you haven't done this you are not playing the market to its potential. If you are playing close to potential it might actually make sense to put more pressure on the pipeline because you seem to have a product that at least is average. If conversion is below market standard I would look deeper into the offering itself - it does not make sense to put pressure on the pipeline for a below average product. Whether diversification makes sense is a complex question. Production capabilities, costs per unit, cross & upselling potentials with your core offering etc. all needs to be taken into account. I personally prefer to establish the core product (the product I can produce and sell with a reasonable margin) first and then move on vertically. First step here is to iterate the offering (product core + services around it + pipeline leading to it....) to a good product-market fit. Last but not least - just talk to your customers. Why did they drop off? Whom did they choose and why? etc. etc. In the end everything you do is communicating with "the market" so the best thing you can focus on is to learn "how to properly listen to what the market tells you". From there you can derive most of the answers for your business. Hope that helps. Feel free to reach out in case of follow up questions or need for elaboration. All the best with your venture! KarlKK
-
Do I need to hire a "growth hacker" or "growth marketer?" What's the difference?
Anyone who calls themselves something fancy like that is probably one of the 99% in the industry that have no idea what they are doing and will make you hemorrhage money. Find a MARKETER with a proven track record and use them to build an empire. If you don't want an empire and, instead, want to make your friends jealous by bragging about "new hires," then hire a "growth hacker" or "assistant of hardcore development" or "rad visualization chairman" or whatever other stupid position all these failing startups get caught on.AM
-
What steps would you take to accelerate the growth of a software business with limited resources (no VC)?
You have limit time and resources so you need to think what I call "FIRST DOLLAR" approach. If you look across different modes to sell and target there has to be a few that would be the optimal. Focus only on those first don't look elsewhere - put each next dollar of effort into these (or this one) until it's optimal then target the next bucket to attack until you get momentum to broaden. There has to be a few or one area that would harvest better or best results w you time. The idea here is to get the sales/revenue flywheel turning w focus or richest buckets of opportunity to create revenue momentum to allow you to scale. 1. Partnerships with those who sell into doctors - preferably similar Catagory (tech. IT. Time optimization. Software). 2. Work your customers and fuel the flames of referrals with those Dr using your product. Ask them "is there some one you can suggest that might also benefit from this?" A warm referral is sales gold. "Dr xxx suggested I show this to you". 3. hire college interns. Congrats on "going after itBS
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.