Successful businesses often start with a strong leader. In many cases, this means the company’s CEO. Unfortunately, as much as 60% of businesses are currently operating without a COO. This lack of a CEO has significant ramifications when it comes to the CEO’s ability to lead the company.
When there is no official COO, CEO’s report feeling overwhelmed, not getting enough done, and having no time to themselves. In addition, CEO’s are forced to manage daily operations themselves. This results in as much as 66% of time is spent dealing with operational priorities, rather than long-term strategic planning. Ultimately, the implicit cost of not having a COO is upwards of 20% of revenue lost every year.
Fortunately, companies missing a COO have options that can help fill in these gaps. Companies like Diane Integrates helps businesses to select a proper COO, and then has tailor-made coaching to fit their specific businesses. For instance, Diane Integrates combines coaching with Catipult AI in order to increase employee retention, reduce meeting times, and increase a business’s valuation. Whether you want a COO to mentor your CEO or complement your CEO’s skills, it’s easy to see how a COO can help boost your business.
Source: Diane Integrates
