Virtual COO can benefit business

1. Virtual COO Can Improve Business
Is there something you can do to improve your profitability and effectiveness?
The Coldwell Banker Commercial®
organization has implemented a Virtual COO Program to
provide our independent CBC owners a tool for examining existing operations. A few highlights
of the program include:
 Being exposed to best practices from around the country
 Utilizing a proprietary benchmarking tool to compare to other CBC companies of similar size
 Providing a complete Playbook outlining the steps to take advantage of best practices
Since its launch earlier this year, five CBC companies have taken part. Sometimes the program
clarifies what the owner already knows, but needed a third party confirmation. Other times, “out
of the box” ideas are presented that can make an already good company great.

2. If your organization has multiple offices, you can thrive by participating in your own version of
the Virtual COO Program. Even if you don’t have multiple offices, you can still follow the
simple steps below to assist with your planning for the next year.
Here are some tips to get the program started:
Step 1: Collect: Financial information and business plans from your offices
Step 2: Build preliminary data and set meeting to discuss
1. Market Overview & Discussion
1. Competition
2. Clients
3. Overall health of the Local Market
2. Company Overview
1. SWOT Analysis
2. Individual Staff Interviews
3. Management Roles & Responsibilities
4. Financial Assessment / Benchmarking Review & Comparison
5. Strategic Plan / Developing a Growth Strategy
Step 3: Present Virtual COO Playbook to the office
The program is named the Virtual COO because it is a way for each company to receive ideas
and plans from a “virtual COO” who has worked with many offices to improve profitability. As
the Virtual COO Playbooks are used in 2014, we hope to further expand the program to help all
CBC affiliate offices increase their profitability and effectiveness. Good luck creating and
following your Playbook!
By William Hinson, VP Business Development
View more at Blog.CBCWorldwide.com