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Posted On: 02/21/2021 9:15:34 PM
Post# of 22465
Why you hire a COO
"The decision should be based on a couple of factors: the amount of money raised and how the company is scaling. My recommendation, after a large raise, is that you need an operational expert to grow smarter and not waste money. With an organic company, you have your finger on the pulse of the day-to-day and there's no push from outside investors to scale quickly. You're not on the clock, so you may not need a COO. Another factor to think about is bandwidth: Are you spending more time on operational issues than on strategic issues? When bandwidth becomes an issue, that gets in the way of growth."
"The decision should be based on a couple of factors: the amount of money raised and how the company is scaling. My recommendation, after a large raise, is that you need an operational expert to grow smarter and not waste money. With an organic company, you have your finger on the pulse of the day-to-day and there's no push from outside investors to scale quickly. You're not on the clock, so you may not need a COO. Another factor to think about is bandwidth: Are you spending more time on operational issues than on strategic issues? When bandwidth becomes an issue, that gets in the way of growth."
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