Why You Need a Chief Velocity Officer

As startups grow, they inevitably add more employees. Some of these employees work in sales, some in product development, others in operations. But one position that doesn’t exist at most startups - but perhaps should - is chief velocity officer.

There is often nobody at a startup looking at whether that startup is delivering results as quickly and efficiently as possible. While there might be some executives measuring a startup’s success against expectations. But nobody is looking at how a startup is getting results and whether they are building velocity and momentum, which are ultimately going to lead to a successful startup.

As a quick lesson for anybody who doesn’t remember much from physics class, velocity is both speed and direction. It’s not just how fast you’re moving, it’s also the direction in which you are moving. Your startup wants to move fast, but you also have to get the direction right.

It’s not just about being able to make quick decisions or having the means to pivot quickly. Obviously, you want to move the company forward as quickly as possible. However, every department, every decision, every new venture has to be moving in the same direction. Otherwise, you’ll just end up back where you started.

Often, our coaches at the Midstage Institute serve as the de facto chief velocity officer for a startup. We look for ways to improve the day-to-day operations of a startup in a way that compounds everything in the same direction. This is what’s going to build momentum and get the company operating like a well-oiled machine.

However, if a startup wants to ensure that it’s moving in the right direction as quickly as possible, it’s best to have a chief velocity officer working full time. This is someone who makes sure that every action and decision a business makes moves it in the same direction, ensuring both speed and direction. Ultimately, this is the best way to go from a startup to a unicorn in a few short years.