Whether you are a tech startup or a general business startup, hiring a CTO (Chief Technology Officer) has become one of the mandates that drive the business forward. However, finding the right CTO for your startup is a difficult task. Hiring them not only requires a lot of money, but it also involves the right amount of time and patience to get the right person.
The CTO is sometimes called the "Vice President of Engineering and Technology". Its main role is to develop strategies and implement new technologies for the growing business. Their role is different from that of a CIO (Chief Information Officer). While the CIO is concerned with solving problems through researched technologies, the CTO will develop new technologies specifically designed to solve new business problems for the organization. So hiring him was a big decision. We'll make it easy for you by listing some key postulates you need to check before signing.
Choose for companies, not just for individuals
Hiring just one person on the board as your CTO can cause a lot of complications. From money to experience and decision-making, your new startup can face costs if the person isn't right for the role. In that case, work with a software development outsourcing company that has experience working with startups like yours. You can hire them as your technology service provider or go a step further and partner with them and share equity. This will help you incubate your dreams little by little into reality before your eyes without suffering any losses.
Be straightforward
You need to know what your business goals are and how far you want to build on them. The best approach for startups is to choose the MVP (Minimum Viable Product) route. Hire a collaborative CTO and see how they develop the people and technology to make your startup dreams come true. Equity ownership is the best way to shape your startup the right way.
The problem of experience
When embarking on your "hire a CTO” mission, be sure to hire someone who has years of proven experience working with startups. A CTO with a major MNC will have a completely different attitude than an initial CTO. A startup CTO will not see this as an easy job, but as a challenge to take your business to the highest level as an entrepreneur, especially how you envision your business.
Leadership is mandatory
A CTO is not just a developer. He is skilled in the qualities of a developer and endowed with the skills of a leader. He must also have strong business development skills as well as excellent communication skills. While many IT professionals may think a lot about business development, most lose control when it comes to communication. This combination helps you strategize and implement the technology best suited to your business.
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