15 Key Qualities to Look for When Hiring a Fractional COO
The Connection: September 2024 Issue #07
Running a small business comes with its challenges, and that’s where a COO can help. Their ability to understand business data and trends leads to better planning and more intelligent decisions.
But what exactly can they do, and how do you find the right one?
In this post, we’ll share the essential qualities to look for when hiring a candidate to ensure you choose the best fit for your company.
1. Strategic Vision
First, a Fractional COO with a solid strategic vision is crucial for guiding your company toward its long-term goals. This forward-thinking approach enables them to create and implement strategies that align with your business objectives.
2. Business Insight
Secondly, business insight involves a deep understanding of various aspects of the business. It mainly includes market dynamics, customer behaviour, and operational efficiency. A Fractional COO should be able to provide valuable perspectives on optimizing processes.
3. Fractional Leadership
Fractional leadership refers to the ability to lead effectively on a part-time basis. A Fractional COO should bring a strong sense of leadership and direction, even if they are working part-time. Their leadership should inspire confidence and create a sense of purpose within the organization.
4. Executive Skills
Executive skills encompass a range of abilities required to manage and oversee various business functions. First, they should be adept at handling complex business issues; second, making high-stakes decisions; and lastly, ensuring that all departments work cohesively towards common goals.
5. Strategic Expertise
Strategic expertise helps ensure the company’s strategies are well-designed and effectively executed for long-term success. They are results-driven, meaning the Fractional COO focuses on achieving measurable outcomes and improving overall business performance.
6. Decision-making Ability
Practical decision-making ability is crucial for a Fractional COO to navigate complex business situations and make sound choices. Their decision-making skills impact the company’s direction, efficiency, and performance.
7. Management Experience
Management experience is vital for a Fractional COO to lead teams and manage resources effectively. This experience equips them with the skills to address challenges, motivate employees, and improve performance.
8. Collaborative Approach
A collaborative approach is essential for a Fractional COO to work well with other executives and team members. Look for candidates who have demonstrated their ability to handle similar responsibilities.
9. Industry Knowledge
Industry knowledge is crucial for a Fractional COO to make relevant and informed decisions. This expertise allows them to create strategies and solutions for your industry’s needs and challenges.
10. Coaching Ability
A Fractional COO with strong coaching ability can mentor and develop team members. It helps them enhance their skills and performance and creates a positive work environment. It also builds a high-performing team to achieve the company’s objectives.
11. Performance Track Record
A strong performance track record indicates that a Fractional COO has consistently achieved goals and driven business success in previous roles. Look for candidates who can provide examples of past accomplishments or successfully managing complex projects.
12. Efficiency Focus
A fractional COO’s focus on efficiency is essential for optimizing business processes. They should be adept at identifying areas for improvement and implementing best practices. Their focus on efficiency ensures that the company operates at its highest potential.
13. Experience In Scaling
Experience in scaling is valuable for a Fractional COO to help the business grow and expand. They should have a background in scaling operations, managing increased workloads, and handling the challenges associated with growth.
14. Leadership Qualities
Strong leadership qualities are crucial for a Fractional COO to inspire and guide the team. They should possess integrity, vision, and the ability to motivate others. Adaptability allows them to manage unexpected challenges and ensure the company remains resilient and agile.
15. Alignment with Company Values
It’s essential that the COO shares your company’s values and fits in with the culture. During interviews, explore how their values align with your company’s mission. And ask for examples of how they’ve contributed positively to culture in previous jobs.
Conclusion:
When hiring a COO, focus on finding someone with the above skills. These qualities will help ensure your new COO can lead your company toward success. Strong communication skills create alignment, resolve conflicts, and ensure everyone is informed and engaged.
