26. The COO Role: Why Would You Ever Want the Job?

In this episode we unpack the topic of: The COO Role: Why Would You Ever Want the Job? with Chuck Orzechowski, CEO of the COO Forum. 

Bethany and I discuss the following: 

• How do you avoid being the dumping ground for things that others don’t want to do?  
• Why would you want the COO job? 

We then discuss the following with Chuck: 

• What are the most common issues you see across your COO membership? 
• What is the best approach to clarifying decision-making authority with the CEO? 
• Why is “pace of change” a common frustration for COO’s? 
• What do you do when the CEO relationship is not working for you? 
• What is the key criteria for determining a good COO-CEO match? 
• What are the rewarding elements of being a COO? 

References

• The COO Forum® has been delivering on the mission of helping Operations Executives achieve more since 2004. Our members tackle the most pressing challenges facing their businesses and those that shape their careers. Join the best Operations Executives in the world as we celebrate our 20th Anniversary. Don't go it alone in 2024.
• Launching this February, Find Your COO™ will provide CEOs/Recruiters a one-stop source for finding talented COOs. The platform is built on top of the CEO-COO Alignment Index™ scoring system. It uses 25 key questions to create profiles for both the hiring CEO and COO candidates. These questions cover areas such as preferred communication frequency, speed of change, role relationship, delegation, trust development and more. Then, both parties can see each other's scoring reports to better assess potential fit or mis-alignment. This sets the stage for improved recruitment, interviewing and alignment post hire, which leads to better performance and COO job satisfaction. 

Biography: Chuck Orzechowski serves as CEO of the Chief Operating Officer Business Forum® (COO Forum®.) Since 2004, the COO Forum’s mission has been to support operations executives in achieving more in their business and professional lives. As a peer-based professional development organization, the COO Forum has helped 1000’s of executives navigate the challenges of their roles and improve business outcomes. 

Over the past 28 years, Chuck has spent most of his career leading operations in a wide variety of industries and company sizes, ranging from start-up through Fortune 500s. Chuck has a passion for improving operations, scaling businesses, and the professional development of others. 

It’s what gets him out of bed each morning...that and coffee!

Summary:

• Whiskey, rock concerts, and personal values. 0:05
• Brandon and Bethany discuss Bethany's husband's illness and their celebration with whiskey advent calendars.
• Brandon attends a Danko Jones concert at the Garage in North Islington, describing the band as a fusion of rock, punk, and jazz.
• Brandon mentions a mosh pit at a concert where he was the "enforcer" to push back, but he was not tempted to join due to his age and past experiences.
• Bethany has been reflecting on her values and purpose in life, realizing that having fun is her guiding principle, and she's looking for innovative and energizing experiences that bring her joy.
• Bethany was approached to become a CEO but lacked passion and interest in the domain, leading to her rejection in the final interview.
• Despite feeling relieved to not have to present, Bethany's lack of enthusiasm was picked up on by the only woman on the board, who ultimately decided not to move forward with her candidacy.
• CEO roles, delegation, and avoiding unnecessary work. 7:21
• Bethany shares her realization that she doesn't want to leave her children a large inheritance and instead wants to prioritize their education as their inheritance.
• Brandon questions the appeal of the CEO role and why Bethany would want the job, given her newfound priorities and interests.
• Brandon and Bethany discuss how operations professionals can avoid taking on tasks that nobody else wants to do, such as ISO certification or back-office work.
• Brandon suggests delegating tasks to others or hiring someone to handle them, while Bethany agrees and shares her own experience of successfully pushing off ISO certification to others.
• Both Brandon and Bethany emphasize the importance of owning your role and delegating tasks to others to avoid taking on too much work that you're not passionate about.
• CEO aspirations and leadership skills. 13:28
• Bethany highlights the variety and problem-solving aspects of being a CEO as a source of enjoyment.
• Bethany desires the CEO role for the authority and accountability it provides, as well as the opportunity for a deep relationship with one person.
• Brandon enjoys connecting the dots to make a company successful, and he finds it fascinating to analyze data and trends to inform go-to-market motions.
• Brandon also enjoys coaching others, whether it's helping them rise in their careers or gain confidence, and he finds it both altruistic and selfish.
• The COO role and its universality. 19:08
• Chuck discusses the COO role and its universality beyond just tech startups.
• CEO-CFO relationship, decision-making challenges. 20:41
• Chuck identifies the top 2 challenges faced by operations executives: misalignment between the CFO and CEO, and scaling the business while dealing with people challenges such as decision making. (20 words)
• Bethany asks Chuck about the most common complaints and challenges she hears from new members, and Chuck shares his own war stories and insights. (10 words)
• CEO makes decisions differently than operations executives, with a unique perspective that's difficult for others to understand.
• Communication is key to understanding CEO decision-making process and partnering with them to offload some decisions.
• CEO role, decision-making, and pace of change in organizations. 26:09
• Brandon and Chuck discuss the challenges of decision-making as a CEO, including the need to balance facilitating the leadership team with making decisions as a group.
• Chuck mentions the importance of documenting the decision-making process to avoid confusion and ensure consistency, particularly when it comes to the pace of change within an organization.
• Chuck shares his personal story of joining a startup as COO and making changes despite the owner's return from sabbatical.
• Navigating a business with a non-alignment CEO. 29:47
• Chuck wanted to analyze financials to understand business growth and make decisions to improve the CEO's life.
• Chuck saw the profit and loss statement but not the balance sheet or forecast, despite requests, and struggled to align goals and decision-making with the CEO.
• Chuck emphasizes the importance of communication and decision-making in a CEO-peer relationship, particularly when the CEO's expectations are not aligned with reality.
• Brandon advises peers to assess their ability to operate in the CEO's environment and make decisions based on their own needs and goals.
• Leadership hires, values, and styles in business. 34:25
• Bethany observes that 50% of leadership hires fail, and hypothesizes that this is due to leaders' inability to adapt to different situations and cultures.
• Chuck believes leadership assessments are less important than alignment in a CEO-CFO relationship, focusing on communication, decision-making, trust, and growth expectations.
• Chuck is developing an CEO alignment index to help organizations identify the right CFO fit, based on a candidate's desire for change and growth, and alignment with the CEO's vision.
• CEO role, challenges, and rewards. 38:43
• CEO matchmaking platform assesses alignment between CEO's preferences and role requirements.
• Chuck highlights the importance of people skills for COOs, who often serve as a buffer between the CEO and rest of the organization.
• Brandon asks an unconventional question about the CEO forum, which includes CEOs from various industries, emphasizing the people-based nature of software development and collaboration.
• Chuck emphasizes the importance of communication and alignment among CEOs and their teams, citing the value of diverse perspectives and missions in driving success.
• Chuck encourages CEOs to stick with the role, highlighting its rewarding nature and the importance of perseverance in overcoming challenges

This podcast uses the following third-party services for analysis:

Podcorn - https://podcorn.com/privacy