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Setting your eye on the position of a Chief Operating Officer? Well, you’re in for a thrilling experience as this is considered to be one of the most challenging positions in a company, not to mention that it’s also the second-top job in the boardroom. If you know that you have it in you to acquire this job, then all you have to do is learn how to cultivate the skills that you have for this position, know what it takes to achieve your goal, and determine if you’re on the right track of becoming one.
As a COO, you’re responsible for any task that involves the administrative or business aspects of your company. Being in the most challenging position in the boardroom, you’ll encounter many stressful days and demanding workloads, but on top of these responsibilities, you’re also given the chance to experience various advantages this job can offer.
To have a better understanding of this particular job, it’s essential to know first what it’s all about and the responsibilities that it entails.
What Is A COO?
The Chief Operating Officer (COO) is responsible for the daily operational and administrative and functions of a company. While this is highly similar to the role of a well-experienced general manager, COO is a senior executive and is typically tasked to directly report to the CEO. This position is also considered to be the second-in-command position.
Being in the COO position, you’re responsible for overseeing the daily operations of the organization. This position is also known as a managing director, operating director, and executive vice president of operations.
The big difference between a CEO and a COO is that the former is considered to be the visionary leader, while the latter pursues goals and makes things happen. Aside from this, the COO is also the one who figures out ways on how to carry out the goals of the CEO and make their plans a reality.
4 Advantages of Being A COO
Being a COO is never easy. This job entails great responsibilities to effectively pursue the goals of the company. As a COO, you may be expected to distribute limited resources, ensure the success of major projects, and optimize the business and administrative operations of your company. Being in the most stressful position in the boardroom, this job may be a little too much for you, but the good thing is it can also offer you various perks that you can enjoy and they’re as follow:
- Status
Being the second-in-command of the most influential person in the company means you’ll also have a remarkable status, as well as power and prestige. As the COO, you’re given as much power, if not entirely equal as the CEO has. Though there’s a little difference between the two positions, you’re also given the chance to enjoy certain perks which the CEO has, such as prestige, authority, and status.
The title of COO conveys notable status which shares the same reverence as the CEO in the business world. This title speaks authority, prestige, and power which you can have as long as you’re in the position. For people who give value to corporate titles and statuses, being a COO also means having an honorable role that best reflects the success of the person in the position.
- Knowledge
As the right hand of the CEO and the one who directly reports to them every single thing that they have to know, you’re given the chance to learn of the company’s state of affairs aside from the CEO. Particularly, this allows you to be informed of the economic state and market conditions of the business world.
Being the COO also means having a vast knowledge of the company’s condition, including its stability and growth. Having that much information provides a great sense of job security which isn’t given to any other lower-level executives.
Aside from this, as a COO you’re given almost the same chance like that of a CEO to learn how the company works and thrives through different crises, its goals and visions, and how specific plans can be achieved.
- Leadership and Decision-Making
A COO is usually the one responsible for making the plans of the CEO come to reality. This is because while the CEO is the visionary leader and the top decision-maker in the company, the COO is the one who pursues plans that the CEO have envisioned and makes things happen in reality.
Due to this, as a COO you’re given a significant amount of control over the day a business operates. You also share almost the same job description as the CEO, such as strategic planning, decision making, and overseeing overall business operations.
- Power and Prestige
Being a COO means having the chance to experience prestige and respect from your colleagues. Your achievements, hard work, and goals are open for everyone to see; hence, more people can witness your journey toward the success of becoming a COO. Apart from the prestige that this job can offer you, you’re also given enough power to pursue your plans for the company’s growth and make things happen despite the odds that you’ll encounter along the way.
Similarly, being a COO allows you to gain authority over certain business operations, contribute to the company’s overall decision-making regarding strategic plans and cost opportunities.
Bottom Line
A COO is also crucial in pursuing the company’s growth and development. You are responsible in making the CEO’s vision and dreams for the company to become a reality. You’re also expected to play an integral role in building links in the company, boost leadership among your colleagues, and oversee the daily business operations of your company.
Being in this position allows you to enjoy certain advantages like that of a CEO. You can have a remarkable status, power, and prestige, acquire vast knowledge, and contribute to decision making and boost leadership in the company. Being a COO might be a challenging task, but with proper skills and determination, nothing will ever be impossible for you.
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Adam is a partner in B2BNN with over 15 years experience in the enterprise technology field.
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