Achieve new heights, partner with your COO

There is a direct correlation between the level of success a company can achieve and the quality of the relationship between the CEO and the second-in-command (2iC) (aka COO, President, VP, Director).

Why? Because, the big idea, creative, inventive people who start and lead companies usually don’t have the system and detail skills required to fully bring their visions to life. In fact, the work of running day-to-day operations often drains them.

Similarly, the majority of people filling the 2iC role have no desire to one day take over as CEO. They like being the behind-the-scenes person who brings the vision to life.

And while the power for exponential growth is in the differences between these two leaders, these differences also lead to frustration and communication challenges.

So what’s a CEO to do?   

The first step is to recognize the importance of the 2iC role. Because when it’s right and you are capitalizing on your differences you are:

• Happier because you are working in your sweet spot.
• Seeing profits increase because operations are running smoothly.
• Championing a shared vision for the company that is guiding growth.
• Keeping employees longer because lines of communication are clear, people know how to be successful in their role, and understand how they fit into the big picture.
• Wowing your customers.

According to a Harvard Business Review article, empowering Second-in-Commands/COOs creates a measurable impact on business growth, leading to better clarity, improved communication, and sustainable success when implemented correctly.

You also don’t have to look hard to find case studies that back this up:

• Walt Disney had his brother. Roy Disney left banking to help Walt bring his vision for Disney to life and is even the one who got them into animation.
• Orville Wright had his brother, Wilbur Wright. They credit their success to effective communication.
• John D. Rockefeller had Henry Flagler, who was also a successful businessman. But their individual success was nothing compared to the Standard Oil empire they built together.
• Plus there are plenty of small and mid-size businesses that really took off when the founder/CEO began to trust and partner effectively with their 2iC: 1-800 Got Junk, College Hunks, Hauling Junk, Shopify, Poshmark, Kolbe Corporation, VisionSpark

Once you are clear on the value, maximize your dynamic by instituting the four things every great CEO and 2iC/COO duo has.

• Defined roles. Clearly define your roles based on your individual strengths, the stage of the company, what you want your life to look like, and what you are willing to hand off.
  – Then communicate your roles company-wide and stick to them.
  – If someone comes to you about something that you handed off, remind them that your 2iC/COO owns that now and that’s who they should talk to.
• Respect for each other’s strengths and styles. They support and celebrate each other inside and outside the company.
• Effective communication. They understand that they essentially speak different languages and use strategies to overcome that barrier like:
  – Framing questions so the other doesn’t feel challenged or attacked.
  – Thinking about the other’s communication preferences when sharing information (bullet points for the CEO, more details for the 2iC/COO)
• Weekly meetings to stay in sync. If you don’t do this already, start with a short 15-minute meeting (same day/time each week) where you share what’s on your mind. Build up to a longer meeting where you both get to share and talk through ideas. Keep these meetings focused on idea sharing. If you need to dive into details, schedule a different meeting for that.

Getting comfortable handing things off to your 2iC is often the most challenging part, especially if you are the founder.

That’s why it’s important to be strategic about it. When you define your roles, make sure the core responsibilities for each of you are in your sweet spots. If there’s something you still aren’t comfortable fully handing off, hand off part of it. Then let them own it. And gradually hand off more and more as they are successful.

If your 2iC is someone who was promoted from within or morphed into the role, support like a peer group exclusively for 2iCs or 2iC coaching will help them be most effective.

Studies show coaching increases in individual (70%), team (50%), and organizational (48%) performance and earns an ROI of up to 788%. While the benefits of peer groups include better decision-making, increased goal attainment, enhanced innovation and opportunity identification, as well as continuous learning and professional growth.

When looking for a coach or peer group for your 2iC, look for someone who has filled the 2iC role so they can coach them on execution as well as strategy and leadership.

Building the delegation muscle with someone from inside is easier, because:

• You already know and trust them, to some degree.
• They know the company and the key players, so you don’t have to bring them up to speed.
• They know you and understand your style and preferences.

Another important benefit is that it makes the transition smoother when it’s time to bring someone in from outside.

As your business grows the need for a more experienced COO generally emerges. You will need someone who has been at the level you are striving for and has strategies and tools to help you get there. This might be a fractional COO or a full-time hire.

When that time comes, you will be looking for someone who has done it before and is the match to your puzzle piece. Their strengths, skills, and expertise need to complement yours. This is where things can get a little tricky, so assessments and outside experts are worth considering.

But no matter what, whether you are raising someone up from within or working with an experienced COO, you can use these four pillars – respect, defined roles, effective communication, and staying in sync – to strengthen your relationship and take your company to new heights.

Written by Diane E. Mentzer.

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