Having A Second In Command
Creating a business is hard enough. Trying to grow and manage one all alone can, at times, be daunting. Successful business owners know the importance of structuring their businesses by adding a role of “second in command”. Sometimes known as the Chief Operating Officer (COO), this role can perform a variety of functions within any given business. Illustrated below are a few examples that demonstrate the crucial roles a second in command can play.
Reducing Stress
Business owners can often feel alone in the overwhelming task of running their operations. They wear many hats and are often dealing with many different issues all at the same time. Hiring someone to help run the operations can allow the owner to spend more time on other issues they deem necessary.
By having a second in command, the business owner is able to create a filter allowing issues to flow through another position, reaching them only when necessary. This can help reduce the stress of business management and, in turn, allow the owner to focus on growth.
Two Minds Are Better Than One
A second in command can be a powerful partner to the owner. From mentoring a young business owner to providing an active role in the growth and management of a business, COO’s take on the pivotal role of peer to the owner. Creatively and logistically they bring another mindset and approach to problems, ideas and management. It is always beneficial to the company to have two people at continual work in the development of the company’s vision.
Preparing For The Future
Sometimes the role of the second in command is to gradually assume more responsibility and focus on the knowledge transfer necessary to take over the business once the owner decides to retire or take a back seat. Hiring an individual with the mindset of handing the reigns of the business over to them, will help the transition be smoother and more seamless to the company, its people and its clients.
There is no defined set of rules to the roles a second in command can perform. Every business may have a different need that can shift as the business continues to grow and develop. Owners have the flexibility to create the position so that it meets the current needs of the company and continues to mold it as the company changes.
The important concept is to realize that a second in command provides any business with a valuable and malleable tool. Effective leadership and the security of having a person who is up to speed on all facets of the business is a critical component to the business’ success.