Why You Should Consider a Virtual COO
What’s a COO? Why do you need one? And why does hiring a virtual COO make the most sense for your business?
A COO handles your business’ day-to-day operations as a CEO’s right-hand person, definitely. But a great COO will also think strategically about your growth and anticipate operational issues that might come up as you scale. While there’s almost no agreed-upon definition of what a COO is and does, you can use that to your advantage to mold this role into something that works for your business. You can also take advantage of what your COO knows to open up opportunities and ideas that you might never have dreamed of otherwise.
Sit back and we’ll show you the dream: a second-in-command who anticipates your needs and levels up your business without a hitch (or at least while handling the hitches). Here’s how a virtual COO can benefit your business (and your mental health):
Owning a business can feel like you’re playing whack-a mole. As soon as you take care of one issue, two more pop up, and it never ends. You likely knew that was what you signed up for when you started your business, but we’re sure you’d love to have a trusty person that you can delegate some of those issues to so that you can spend time on what you’re passionate about (whether that’s investing in other parts of your business or reclaiming some of your leisure time).
Reduce your stress
Time-savers and stress-reducers go hand in hand, don’t they? After all, if we had infinite time to get things done, stress would mostly fly out the window. Owning a business is stressful (did you need the research to tell you that?), so you should always be looking for ways to reduce that stress — for your own longevity and the longevity of your business!
By taking some of your work over, growing your business, and offering you more security, a virtual COO can take some of that stress off of you. Owning a business can feel like you’re carrying the world on your shoulders, and a virtual COO can help to lighten that load.
We’ve seen this first hand at Global Front Room. People on your team always have questions. When I was working in the corporate world, I managed the team from answering day-to-day questions, sorting out challenges they were having, and building a coherent team so the heads of the divisions could focus on strategic decision-making.
Add a team member with diverse skills
By hiring a virtual COO, you’re getting access to someone with a wealth of knowledge and experience. COOs come from all kinds of business backgrounds, and the nebulousness of the role can be an advantage on all sides. You can hire someone with a background and skillset that meets your exact needs (we know they’re out there), and the person you hire will have the challenges and excitement of putting their diverse skillset to work.
At Global Front Room, we have a wealth of connections. Aside from the COO services we provide, we have a host of diverse people in our network that we can pull on as experts to get the job done (whatever the job may be).
Get cross-border on-the-ground help
It’s 2018, and we can do a lot online. But there are some things that really just need in-person attention. If you’re halfway across the world, it’s hard to evaluate a new office space. It’s hard to attend networking and training events. It’s hard to connect face-to-face with the decision-makers that matter. Business has adapted to the internet age in so many ways, but there’s still value in that in-person connection.
Traveling across the globe every few weeks is a stressful (not to mention expensive!) mess that you probably don’t need to take on. If you look for a virtual COO in your destination market, you can send them to meetings, appointments, and errands in your place. They can report back while you haven’t even left your office.
Get in-market and in-timezone connections
One of the best parts of hiring a virtual team member is that you can hire someone anywhere in the world. If you’re in Australia and you’re targeting customers and clients in the UK, you might find that you’re staying up all hours to take virtual meetings. You might also find that your understanding of the UK market isn’t as sharp as you’d like it to be.
A virtual COO in your target market, however, will be able to take those meetings during their business day. They’ll understand the business practices and culture of your potential client and customer base. This will all make it much easier to get the signature on the dotted line from the people you want to do business with.
Thinking about expanding into the UK? Contact Global Front Room to get some in-market and in-timezone help!
Minimize overhead costs
By hiring a virtual COO, you’ll gain a team member without taking on the overhead costs of adding someone in your office. A virtual COO will have their own equipment, office, software, etc. Imagine adding someone to your team that can hit the ground running without spending a week doing training and paperwork with HR!
There’s also that issue of water cooler talk with salaried employees. Your team deserves those breaks, but you do end up paying for them! With a virtual COO, you’ll pay only for the hours that person is working on your business and your projects.
Grow your business
You can only go so far before your business operations are more than you can handle. If you hesitate to delegate operations management to a COO, your growth will be stunted. A COO can think strategically and use their experience to create new opportunities for growth and make sure that nothing passes you by.
Gain a brand ambassador
Hiring a virtual COO means that you’re connecting with another business-owner, and that person is going to be doing their own marketing and making their own connections. As your virtual COO is schmoozing at networking events or just chatting with friends at the pub, their work is bound to come up. And that means your business is bound to come up.
Your virtual COO should also be your cheerleader-in-chief, especially since your success feeds into their success. Every new bit of info or opportunity that crosses their desk is something you’ll have first dibs on.
Totally convinced? Check out our Virtual COO package!
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