During a crisis, many entrepreneurs experience a state that can be described as depression or numbness. They realize that everything they have been building for a long time is suddenly and perhaps even unexpectedly destroyed. Business owners feel stagnation, and it is quite difficult for them to get out of this state.
In this case, if the entrepreneur has the awareness that he cannot cope with his responsibilities independently, then it makes sense to find the CEO of the company. Resolving the psychological problem takes a lot of time, but despite this, the business does not have time to wait and it needs to continue to be managed.
But then the next problem sweden email list arises: the fear that the COO will ruin everything and make unavoidable mistakes. After all, the founder has been managing the operations for a long time on his own and has built a sustainable business, investing a lot of energy, effort and nerves into it. And then the COO does something differently than the founder would have done.
The worst thing you can do in this situation is to start micromanaging your COO. After all, you hired an experienced professional to make decisions and simplify your tasks, but in the end you complicate his work and hinder him. It turns out that you complicate and harm yourself.
It is impossible to get rid of this problem completely, but you can always try to control your fear and mistrust, to reduce their impact on the newly arrived COO. Instead of monitoring the process, you should focus on the results (which were agreed upon before hiring), such as achieving certain indicators during the quarter or improving them in six months.
Looking for a COO to split the tasks
An operations director is needed to load the owner with work, free up his time to perform other tasks. For example, the business has lost profits due to the departure of international partners and it is necessary to start looking for new ones. Leaving the company is absolutely not an option, since it employs specialists whom the founder of the business painstakingly collected and trained. There is also hope that the situation will normalize.
Usually, entrepreneurs try to find an answer to this question in the form of new niches and markets. But in any case, this is quite a big burden, because you will have to control and keep the existing company afloat and literally build a new one.
As an option, you can try to divide the responsibilities. For example, appoint an operating director for the current management, and the founder will handle the new management independently. Usually, the following agreement is made with the commercial or financial director: he will perform the functions of the COO, while the owner of the company will implement new goals and processes for the rehabilitation of the business.