At BearPeak, we talk about the benefits of having a fractional CTO (Chief Technology Officer) and the hybrid advantage they provide, but why are CEOs coming to BearPeak in the first place?
Here are the top reasons startups seek out fractional CTOs:
1. Joint Leadership of Your Tech Team
Anyone can run a startup, so long as they have an idea and the passion to see it through. This means that entrepreneurs come from all sorts of backgrounds, but many don't have software experience. That's why founders hire specialists.
But how are you supposed to regulate a tech team if you don’t understand what they do? You need a fractional CTO.
Fractional CTOs are unique due to their combination of tech and startup leadership experience. They can explain what your specialists are doing, ways the team could improve, and guide your staff through those upgrades. A fractional CTO brings ideas to improve your tech team's work environment and communication methods. Think of them as the thread uniting your company's leadership and tech teams.
2. Guide & Motivate the Tech Team
Your tech team can gain irreplaceable experience from a leader who has been in their shoes. A fractional CTO can improve their overall productivity, collaboration, morale, and education.
Many CEOs need a passionate team member with well-rounded experience to fill the gaps in their team. Whether you need to fill a leadership gap during a transition or want a temporary masterclass to improve your tech team's skills, a fractional CTO is ready to share their expertise.
3. Efficiently Resolve a Problem
Experts in a combination of software and leadership know how urgent issues can be and how to resolve them. A fractional CTO can be quickly integrated and get to work, starting with a comprehensive assessment and the specific issue at hand. They then develop a strategic plan tailored to address your issue, providing hands-on support during implementation, including collaboration with both your internal teams and external vendors.
Throughout the process, the fractional CTO can monitor progress and make necessary adjustments to ensure their solution's effectiveness.
All the while, a fractional CTO will be transferring knowledge and skills to your internal team, empowering them to handle similar challenges independently in the future.
4. Oversee Optimization
Looking to implement new tech? Want to make sure it's integrated smoothly? Work with a fractional CTO for a leader who is up-to-date on the newest innovations and has experience implementing new tech themselves. They can help with:
Product development
Product innovation
Scalability
Technology roadmap planning
Cybersecurity
Compliance
Tech stack optimization
Tech strategy alignment
They can optimize the product development lifecycle to help you achieve better outcomes, drive innovation, and ensure scalable technology solutions.
5. Extend Your Network
Without tech experience of your own, it can be difficult to know which specialties you need on board. Just one hire could drastically improve your team, but only someone with a great circle of connections will know who that hire could be. Since fractional CTOs have worked across different tech roles to build their cumulative experience, in the process, they’ve built a community of engineers and can recommend the best fit candidates.
By partnering with someone who possesses extensive industry networks and resources, your company can strategically extend its own. This includes tapping into the fractional CTO's industry contacts to:
Gain access to valuable opportunities and resources
Forge strategic partnerships with complementary organizations
Leverage specialized talent recruited through the CTO's network
Explore funding opportunities facilitated by connections to potential investors
Through these avenues, you can expand your company's network, access new opportunities, and accelerate your growth trajectory.
6. A Fresh Perspective on Demand
As external consultants, fractional CTOs are not entrenched in the day-to-day operations of your business. This allows them to approach challenges with a fresh set of eyes.
A fractional CTO can identify your team's blind spots or inefficiencies that may have been overlooked by those who are too close to the problem. Moreover, fractional CTOs often work with multiple clients across various industries, giving them exposure to diverse challenges and solutions. Additionally, fractional CTOs can provide valuable insights into emerging opportunities or threats that may affect demand for your company's services.
A fractional CTO has been in your shoes before. Now, they function as an expert resource at your fingertips whenever you need them. The benefits of bringing on an expert on a need-only basis is one of the biggest reasons CEOs are turning to fractional CTOs.
Get Connected with Your Own Fractional CTO
Now that you know all the ways a fractional CTO could help, let's bring your team to its peak! Schedule a free consultation call with our founder and CEO John Eckhardt to learn more.