Difference between having an OBM or COO in your business

Hi everyone, today I want to talk about the difference between having an Online Business Manager (OBM) compared to a Chief Operating Officer (COO) in your business.

First of all, let me be clear that both of these roles can be incredibly valuable to your business. An OBM can help you manage the day-to-day operations of your business and ensure that everything is running smoothly. They can take on tasks like project management, team management, and systems implementation, freeing up your time to focus on higher-level tasks.

However, as your business grows, and you bring on more team members, you may find that you need more than just an OBM. That's where a COO comes in, or you may prefer to help your OBM develop and up-level into that COO role. A COO is a strategic partner who can help you take your business to the next level. They can help you identify areas for growth and create a plan to get there.

Here are a few reasons why you might need a COO as opposed to an OBM:

Strategic Planning

While an OBM can help you execute your existing plans, a COO can help you create a strategic plan for your business. They can analyze your business data, identify trends, and make recommendations for growth.

Leadership

A COO is a senior leader in your organization and can help you manage your team and create a strong company culture. They can also help you hire and onboard new team members, ensuring everyone on your team is aligned with your vision and values.

Financial Management

A COO can help you manage your finances, including budgeting, forecasting, and financial reporting. I’m not saying they need to take on the taxes or bookkeeping tasks but they can help you interpret your numbers, implement financial systems and identify ways to increase revenue and improve your profitability.

Scalability

As your business grows, you may need to make significant changes to your systems and processes. A COO can help you navigate these changes and ensure your business can scale effectively.

While an OBM is a valuable team member, a COO can help you take your business to the next level. They can help you create a strategic plan, manage your team, and ensure your business is scalable and profitable. If you're serious about growing your business, consider bringing a COO on board.

I hope this post has been helpful in explaining the differences between an OBM and a COO, and why you might need either in your business. Want to test your strengths and skills to see if you (or your OBM) are ready to become a COO? Take the COO Potential Quiz and receive a personalised report. As always, thank you for reading and I wish you all the best on your entrepreneurial journey!

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