Do I Need a CTO to Build a Technology Company? Newbie startup – entrepreneur edition.
CTO, a nice to have or a must-have role for my tech startup?
You are working hard towards creating the next best tech startup. You know you have a great idea and have checked a few things off your to-do list, but your ideas are for a technology company and you aren’t very technical yourself. So you are feeling a little stuck on what steps to take next. Does this sound familiar?
Sometimes when bringing your own business ideas to life you may feel like you need to have deep technical knowledge or have a co-founder who does. But that’s not true! Hiring new team members or bringing in outside help is something even some of the most successful companies do.
WHAT IS A CTO?
A role you might be looking to fill is a CTO, a chief technology officer. A CTO will look after every technology build aspect within the company. Some responsibilities that they might have are:
- Develop technology build roadmaps technical aspects and ensure they align with over company goals and objectives
- Researching new technologies that would work for the company
- Identify & deploy technology tools, platforms, stacks required for the technology build (MVP)
- Plan for data privacy, security, and compliance considerations
- Managing the research and development
- Improving company technology assets
- Develop investment plans to help the company reach its goals
In nutshell, A CTO is someone who has in-depth knowledge of technology and can translate company business objective into a development plan
CTO VS FRACTIONAL CTO OPTIONS
Now you know why a CTO is an important position to fill, but do you need to hire a full-time CTO?
Depending on the stage of your startup, a full-time position may not necessarily be needed, or most likely, hiring for a full-time senior role may not be within your current budget. A Fractional CTO is someone who will be responsible for CTO duties but on a part-time basis, and even as little as 5 hours a month.
NuBinary’s team includes experienced CTOs who have led many successful tech startups throughout their own individual careers and so essentially they are entrepreneurs who have deep technical backgrounds. So we completely understand the difficulties you may be facing as a first-time founder. Their attitude is to “support” their clients and ensure the success of their companies, which really means lower the operating costs at the early stages of your journey and have quicker entry into the market.
These are traits that are very beneficial to have during the startup process of your business. Someone who knows what you are going through first hand, and can help you determine the best possible strategies for your business going forward.
Starting a business is not an easy thing. But we can use our own previous experiences and knowledge to help you succeed! And most importantly a Fractional CTO is a fraction of the cost!
“NuBinary was an immense help for our startup, especially since this was our first startup and we didn’t have technical (CS or web development) backgrounds. They were fantastic at understanding our business objectives and didn’t do anything just because it’s the norm or it just sounds good. ” – Shiva, Founder of in-it
The NuBinary Team is Here for You!
With the help of NuBinary’s Fractional CTO services, we can assist you with many different aspects of the tech side of your business, from building your product prototype to finding the right grant funding option for you.
It’s time to bring your business idea to life! Reach out to us today. We can’t wait to hear all about your ideas!