72. Is the COO the Single Source of Truth?

In this episode we discuss: Is the COO the single source of truth? We are joined by Eric Collins, Investor, Serial Entrepreneur, CEO & Founding Member at Impact X Capital investing in underrepresented entrepreneurs; Author of We Don’t Need Permission (amzn.to/3Qp6G9d); & Host of Channel 4's The Money Maker.

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We chat about the following with Eric Collins: 

1. What makes the COO the true "source of truth" in scaling a venture-backed company?
2. How can COOs balance growth while CFOs maintain financial discipline—and why does this partnership make or break success?
3. Why is succession planning not just a CEO concern, but a critical step for every COO aiming to lead?
4. Can a COO ever match a founder's passion, or is their power found in something entirely different?
5. What does it really take for a COO to transition into the CEO seat—and what role does backfilling play in that journey?

References 

• https://www.linkedin.com/in/ericdcollinsba/?originalSubdomain=uk
• www.impactxcapital.com

Biography 

Eric Collins is a serial entrepreneur, investor, and host of Channel 4's The Money Maker. He’s held leadership roles at AOL, TimeWarner, SwiftKey/Microsoft, and Touch Surgery/Medtronic.

Appointed by President Obama to the Small Business Administration’s Council on Underserved Communities, Eric now serves on the boards of Cirata, UnLtd, Crux, and Autograph ABP. A sought-after speaker and Audi brand ambassador, he’s consistently featured on The Powerlist of influential Black Britons.

His award-winning book, We Don’t Need Permission (Penguin), advocates for investing in Black and underrepresented entrepreneurs as a powerful driver of social change.

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Summary

23:55 The unique role that the CEO plays in a scaling organisation 

28:05 The value of the COO next to the CFO

30:58 Progressing as a COO

33:11 CEO and COO Succession Planning

33:51 The Passion of Founders vs. COOs

39:56 Planning for Success as a COO

43:16 Setting the Agenda in Board Meetings

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