Mike Davies ⋅ Georgetown, TX IBM ⋅ 33 years experience

Derek - Congratulations! Some really solid advice here already. In my experience, I have been most effective taking on new roles by simply asking what works and what doesn't, with key stakeholders outside the team and key leaders within the team. Once you calibrate this, spend time talking with those actually executing the day to day. This combination helps me understand process, execution and strategic opportunities. Good Luck!

Glenn Gesoff ⋅ Houston, TX BP ⋅ 30 years experience

Hi Derek, thank you for your service and congrats on your new role!
My suggestion would be to utilize the professional networks within LinkedIn for C-Suite executives. There are COOs that can help provide insights and development opportunities that will help you grow into your business.

It's also always helpful to immerse yourself in how the business comes together. For example, if it's a manufacturing company, what materials are used for the products, what are the mfg processes to develop the final product, what are the sales channels to get to market, what technologies are used to develop/enhance the product, what are the biggest levers for fixed versus variable expenses, etc. In my opinion, a COO should have a holistic understanding of the business and drivers that have made the business successful.

David Akre ⋅ New York, NY A NYSE listed financial company ⋅ 25 years experience

Your attitude is exemplary. That's a great asset.
I'd suggest you get behind the numbers relative to how the company makes money. Get into the details. Understand what drives income, expenses, etc. If you understand the market and your margins, you can become a bigger asset to the company.
Best of luck.

Jeff Martin ⋅ Ashburn, VA The Board of Governors of the Federal Reserve System ⋅ 25 years experience

I suggest that you ask your new company for a sponsor / mentor - this could be a fellow senior level person that knows the company, the industry and the current team. Ask that person to help you make the right connections quickly and to help you learn the most important aspects of the company first. This could save you time and help you quickly build solid and beneficial relationship. Sometimes, it’s a struggle to learn a new company culture and informal rules / norms and a sponsor / mentor could help. Congratulations and best of luck to you!