003.
COO is essentially an overhead. A cost to run your business.
So what's the use?
- Your overhead costs may soar and become larger than they could be. COO improves efficiency and focus in your company.
- The COO's job is to take care of the company and ensure it produces enough strategic, business and employee value. The task indirectly contributes to increased profits.
- It's more than just business overhead. Skilful COO can also decrease operative and emotional overhead. What people are focusing on, how people work, what tools they are using etc., are all areas to look at.
There's also an opportunity cost in not having a COO.
