Need the Guidance of a CTO? Hire Fractional CTO Services

These days, nearly every company is conducting business that overlaps with the tech industry. Even if your business isn’t expressly involved in technology, there’s a good chance your business’s success is still tied to tech. Whether you’re selling products in an e-commerce store, or your company is reliant on your web presence, your business is dependent on tech whether you like it or not. Since tech is no doubt important, you should investigate hiring a Chief Technical Officer or CTO.

There is a catch though, CTOs are expensive, and they can be hard to come by. The median salary for a CTO in the United States can be upwards of $300,000 per year. That is no small fee, especially if you’re running a small business or only just starting out. Part of that salary comes from the fact that there just aren’t enough CTOs to go around. The global tech talent shortage is growing and it’s not just DevOps and coders that are in short supply. It is affecting the pipeline of executives as well.

Therein lies the problem; so many businesses and companies need and would greatly benefit from the guidance of a CTO but, they’re either spoken for or out of your financial league. If you find your business facing tech questions but think you have nowhere to turn, don’t worry, there is a solution. This is when you should bring in a CTO Consultant. Like any other consultant in business, a consultant that acts like a CTO in a temporary manner can help your company achieve its tech-centered goals.

Depending on the size of your company, the industry you operate in, and how long you’ve been in business, your technology needs will vary. The role of permanent CTOs in larger companies is largely to coordinate efforts and delegate resources to meet those needs. You can bring that kind of overview to your company if you need it, but more likely you’ll use fractional or part-time CTO services to address certain areas.

Areas like everyday operations, building or improving upon existing tech systems, or cybersecurity are common places for a consultant to start. Many smaller businesses will call on a CTO consultancy firm when they are looking to grow. Using tech for business growth is one of the first places startups and smaller companies turn to and CTO consultants can help you figure out how to do it. Here are the four biggest benefits of hiring a CTO consultant:

Optimize your in-house resources. When you’re running a smaller company, you already know the value of your existing resources. Hiring a consultant frees up more of your internal resources. Your existing team will have a clearer mission, better guidance, and better communication with upper management through a consultant. This will get your products developed faster and put on the market much quicker. If you already have a development or other tech-based team in place, having a tech-savvy leader with the right knowledge and expertise could optimize their performance within days.CTO services can save your company money and increase profits at the same time. First, your company isn’t putting out six figures on an annual basis for a full-time CTO. That’s going to save you money in the long run. Consultants who take on important aspects of the role of a CTO aren’t free, but the changes they help you make in your company should pay for themselves. Secondly, optimizing and expanding your operations in online commerce or investing in your tech infrastructure should then bring in more cash for your business.Consultants bring a fresh perspective. This is universal for any sort of consultancy. Many companies experience a certain amount of conformity when it comes to strategizing and decision making. A CTO consultant can bring unique perspectives to your technology acquisition and implementation policies. This can take your company to a new level in terms of diverse thinking about clients and future projects.Aligning your tech best practices with your business plan will grow your business. Working with a consultant on CTO issues could give you much needed guidance in product development, IT issues, cybersecurity management, or business process optimizations. This resource will bring your technology, strategy, and business goals together and get them all moving in the same direction, towards growth.

The good news is, unlike full-time CTOs, there are hundreds of CTO consultancy firms out there ready to help. If you know where your company could use help, find the firm that best does what you need. Some will specialize in new product rollouts; some might excel at cybersecurity. All you need to do is find the one that fits your needs. Not sure what those needs are yet? That’s OK too. Most of these firms can help you narrow down where your company could use support.