It can be very difficult to give up control when you’ve built your own business from the bottom up. But sometimes, you need to take the next step and hire executives to provide expertise in their specific roles if you want to grow your company. But what do you need to know about hiring executives for your business? Here are just some of the common executive roles you may need to help take your company to the next level.
Chief Executive Officer
This role is really the head boss. They’re responsible for the hiring and management of the senior-level executive team. They are strategic thinkers, interested in the big picture for the company rather than the day-to-day minutia of operations.
If you find yourself or your company bogged down by details, you may need someone willing to handle the nuts and bolts of the operation and help advance your company into the future.
Chief Operating Officer
For the executive who can see the forest for the trees, you’ll need a COO or Chief Operating Officer. This person is in charge of making sure that each small piece is helping to make up a complete whole. They’re essential for the day-to-day operations of your business.
As your business grows, you’ll need to add a COO to help with metrics and measurements. They will be paying attention to the small details of your business that are necessary for success. If you’re finding details are falling through the cracks, it’s time to hire someone for this role.
Chief Financial Officer
While executive and operations are harder terms to define in these business roles, CFO or Chief Financial Officer is quite a bit easier. Your CFO is your money mind. They handle everything from the most basic to the most complicated financial decision your company will face.
It won’t take you long to decide you need a CFO for your company. If you have concerns about your finances that you’re not qualified to handle, it would be worth your time to talk to a financial professional to put a CFO in place.
Chief Marketing Officer
This role used to be a vice-president level position but more and more companies are transitioning it to a c-level executive role. Marketing is integral to business success and with the use of new media, the entire industry has changed dramatically in a very short period of time.
If your business needs marketing, you likely need a CMO. If you’re no longer able to keep up with your competition, latest trends, technology, and more, then you should consider hiring an executive who can concentrate on this process.
Chief Technology Officer
Beyond fixing computers or software in your office, a CTO is an entirely new level of technical expert. This person understands the details of using technology, but they are also well versed in how technology can help your business strategically.
A successful CTO will be able to work with you and your company’s technology to make sure everything it touches is part of the process for success. They need to be able to effectively communicate why you utilize certain technologies, not just that you do.
Do you have questions about hiring executives for your business?
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