Should I Hire A Fractional CTO?

Developing an innovative business can be stimulating and involves a lot of strategic development. To convert the ideas into a successful business and to intensify its bottom lines, executives prefer to capitalize on the technology for startups to nurture and develop a competitive edge. As digital intrusion can transfigure the business, thus it is of critical importance to pilot such transfiguration.

This is the point where your startup will require a Chief Technology Officer (CTO) as technology-led approaches require a professional to make corporate decisions. A CTO is a professional who enables the business to thrive, be more well-organized, competitive,, and succeed in this digital era by supervising the technology-led changes, is an important part of a business, and enables employees to employ full-time. But, if by being a startup you cannot afford to pay a full-time CTO, you can hire a fractional CTO who will bring the same skill set as a full-time employee and at a cost that is within your means. The only difference will be the hired hours.

What Is a Fractional CTO?

A Fractional Chief Technology Officer is an executive who is responsible to aid the business whenever required by providing on-demand services. A fractional CTO will ensure that the technology structures aid the critical sides of your startup. These experienced executives will also understand the fundamental mechanisms of your business and will follow your startup’s mission, vision, goals, and objectives. A fractional CTO is also able to offer the equivalent degree of strategic skill and management as a full-time CTO. Consequently, this technology-skilled professional work on a scheduled time and therefore are paid accordingly, rather than the Chief Technology Officer who serves a business full-time and gets full recompense along with other reimbursements that a company offers.

What Should a Fractional CTO Do for Your Startup?

A Fractional CTO is one of the most desirable managers for startups. A technological professional, who can conserve your startup from substantial setbacks by counseling and aiding you regarding accurate industrial solutions and generating unsurpassed safety procedures to safeguard your business. Technology is undeniably a crucial part of startups therefore a fractional CTO will have to assist in the generation and employment of your startup´s technology plan. As soon as the startup’s technology plan is started, the fractional CTO will follow and supervise it, and will also implement the needed changes and adaptations required as the strategy proceeds. A fractional CTO makes sure that you capitalize on the right technology that is in alignment with your startup and that supports you the best in order to accomplish your goals. 

One of the major difficulties that tech startups need to face and that’s a crucial step in any new business in this sector is software development. If you’re facing this scenario, hiring a technology expert, such as a fractional CTO, can make that development considerably simple. Therefore, having this professional on your team will enable your startup to address any ordinary challenge regarding software development that you may encounter. A fractional CTO will also upskill the members of your team to resolve any technical complications that may ascend. Consequently, a fractional CTO is a top executive who will assist you to establish innovation in your startup, improve efficiency, use technology to nurture your startup, and accomplish goals, as well as encourage you to acquire the needs of software development. The assistance of a fractional CTO will help you add value to your business.

When Is the Best Moment to Hire A CTO?

The best moment to employ a CTO varies and depends on the needs of your business. Some startups require a chief technology officer from the very beginning, while others require these executives when the business grows. As the company grows it goes through various phases and each phase a startup undergoes has its explicit requirements and trials. These stages need a CTO to execute strategies that address the needs of any situation. Many startups don’t employ a CTO in the beginning because of the minor technical management responsibility that can be fulfilled by any capable employee. But as the technical complexities rise and more expertise is required, the need to hire a CTO intensifies. The best time to hire a fractional CTO is when you realize that you are not holding all the distinctions regarding the development of your product. The CTO will assist you and your technical team in the right direction. It’s preferable to employ a fractional CTO when the startup is developing its minimum viable product (MVP). The executive will assist you to outline the requirements to launch your MVP to market, will supervise the progress of the MVP, and will recapitulate on it as your startup stretches. Fractional CTOs also support the businesses to recognize the ways that can scale the products by developing a software explanation so that the requirements of increasing the user base can be fulfilled.

The Value of Experience

Usually, it’s interpreted that more experience can lead to improved productivity, but this excludes the digital industry, where the response is uncertain. Although senior employees have a copious range of experience, they can also lose perception to some extent as they age. This matter is intensified by the status quo that technology changes rapidly causing their skills to become obsolete and outmoded. Due to this reason, it appears that the swift technological and executive changes in the digital industry may be more suitable for the younger employees. Having experience with technological changes can result in several advantages. The most remarkable of these advantages is the ability to generate solutions efficiently with prevailing technology. Yet, in conditions where innovative technologies are being needed and enforced, experience enables a Fractional Chief Technology Officer to analyze and assimilate those innovative technologies with much more efficacy. Thus, an experienced fractional CTO will have a progressive understanding of the value propositions and the confines of new technologies. Subsequently, a Fractional CTO is experienced in technology, it is effortless for him or her to identify what works and what does not work for the growth of your startup. An experienced fractional CTO will assist you to recognize internal problems and how to resolve them.

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