Whether you are a tech startup or a general business startup, hiring a CTO (Chief Technology Officer) has become one of the mandates to push the business ahead. But getting the right CTO for your startup is a daunting task. Not only hiring him involves a lot of money but also includes the right timing and patience to get the right person on board.
Occasionally a CTO is also known as the “Vice President of Engineering and Technology”. His primary role is to develop strategies and implement new technologies to the growing business. His role is different from that of a CIO (Chief Information Officer). While a CIO will look after to solve problems via researched technologies, a CTO, on the other hand will develop new technologies tailor-made to solve new business issues for the organization. So hiring him is a big decision. Let’s ease it for you by listing a few main postulates that you need to check before signing him onboard.
Opt for companies just not individuals
Just hiring a person on board to be your CTO can involve a lot of complications. From money matters to experience and decision making, your new startup business can face a toll if the person is not fit for the role. In that case lay your hands with a technology services company which has experience working with start-ups like you. You can hire them as your technology services vendor or go a step ahead to be partners with them and share the equity. This in turn will help you to cherish your dream turning into reality bit by bit before you, without incurring any losses.
You need to know what your business aims are and how big you wish to build it. The best approach for a startup is to choose the MVP (Minimum Viable Product) route. Hire a CTO on a partnership basis and see how he develops startegies and technologies to turn your startup dream into reality. Sharing on equity is the best way to shape your startup the right way. Never giveaway to boasting ones! Try, test and build with your partner CTO.
When you embark on your mission ‘hiring CTO’ make sure you hire someone who has ample years of tested experience working with startups. A CTO with a major MNC will have an entirely different attitude in comparison to a startup CTO. A startup CTO will never consider this as a plain job but a challenge to build your business high as an entrepreneur, mostly the way you envisage your business.
Leadership is mandatory
A CTO is just not a developer. He is versed with the qualities of a developer and blessed with the skills of a leader. He should also have strong business development skills as well as great communication power. While many IT professionals can think miles about developing the business, most go haywire when it comes to communication. This combination helps him to build strategies and implement technology that best suits the business. So look out for this deadly combination before you get him onboard.
Money and time are two of your biggest challenges, being a startup. So whatever decision you take needs clear vision and thoughts. Most start-ups don’t have the time and money to spend on head-hunters. Look out for someone who is experienced and ready to join you out of passion to perform.
Always remember a CTO is a versatile genius loaded with the power to code programs as well as strategise items as per business needs. So he is like a big fish. And you need to treat him with élan. From offering him a good compensation to providing him with adequate perks are a few of the often valued things that you need to keep in mind while hiring a CTO.
Are you looking for a CTO for your startup? Write to us for help.