What makes a great COO

One of the most in-demand roles amongst Energy Storage and Grid startups and scaleups is the Chief Operating Officer (COO).

Many of these companies have been led excellently by their Founders, reaching a point where they have great tested technology with product market fit and some fresh investment, and it is now a case of industrial scale-up. The key questions at this stage are “where do we want to go next?” and “how do we get there?” - most Founders can answer the first question but do not have the know-how and experience to answer the latter.

This is where hiring a highly-effective COO can be crucial. 

This individual is often the “glue” that holds the company together. In fact, one of my clients recently referred to their COO as the “superhero” as they took care of many of the painstaking aspects of growth - whether its finalising the future organisation structure and recruitment plans, planning and executing the scale-up from pilot to industrial production, or supporting the CEO in further fundraising and the long-term business strategy. 

As the Forbes article shares, it is critically important that the CEO-COO partnership is incredibly strong. You must be sparring partners for each other and drive the very best out of each other to achieve collective success for the business.

As a start-up leader considering this next hire, here are some of the most important things you will need from your COO:

1. Operations expertise: The COO should have a deep understanding of operations and a proven track record in managing complex supply chains, production processes, quality & HSE, and logistics. Even if they have specialists reporting into them, they should have ultimate accountability.

2. Leadership & gravitas: They should be an accomplished leader who will help you strategize and then execute a growth plan, including building/refining the organisational structure, inspiring and motivating cross-functional teams, and recruiting, managing, and developing talent in the company.

3. Technical know-how: They should have a good understanding of the related technology, whether it be directly in batteries/ESS or from wider renewables or manufacturing (automotive, electronics, semiconductors etc).

4. Business acumen: Your COO should have sound commercial understanding to enable their involvement in business development, financial management, and strategic planning. They will represent the company to customers, partners, and investor stakeholders. They should be adept in commercial data analysis to make informed decisions to drive growth and profitability.

5. Problem-solving & change management skills: They should have a proven ability to identify and solve complex business problems (personnel, production bottlenecks, supply chain constraints), but then most importantly, implement effective solutions, and drive change within the organization.

6. Communication skills: Strong verbal and written communication skills are essential. They must be able to communicate effectively with all levels of the organization (particularly important in scale-ups), from fellow executives to junior employees, and externally, with customers, partners, and investors.

7. Zoom in-zoom out mindset: This is particularly important for start-ups who are scaling. The organisation is still relatively small and therefore the COO will need to “get into the weeds” occasionally, but then have the ability to zoom out and have a helicopter, strategic view.

8. Passion for the industry: The COO is a key face of your organisation and therefore should be passionate about your mission. Ideally they will have prior experience in your target customer segments (EV / E-Mobility, Grid ESS, Residential, C&I etc) but if coming from a wider field, they must stay up-to-date on the latest trends and technologies and demonstrate credibility.

How am I going to find this superhero you may ask? 

Well, it's not easy and first you must have a clear idea of which organisational areas you want your COO to be direct responsible as and just as important, what the key milestones of success will be and their timelines.

Once clear, you will then need to consider how you will attract high quality experienced operational leaders to your company, both in terms of a compelling story and mission but also a well-defined package, made up of base compensation and milestone-based equity incentives or bonuses. You want your COO for the long-term so do not skip this step!

Finally, you then need to choose the right executive search partner to support you. Here is where Hyperion excel, with many COO case studies with cleantech clients in Europe and USA. We invest the necessary time, resources, and know-how into finding the right “superhero”  for your business, whether they be local or we relocate them internationally.

I lead the Energy Storage and Grid practice at Hyperion, helping clients across batteries, ESS, and grid technologies to hire the best senior and exec talent. If you're scaling your company post-investment, contact me today at david.beeston@hyperionsearch.com