Most modern businesses are technology-driven and are intertwined with emerging new technologies. Thus, for these companies to succeed and stay ahead of their competitors they have to adopt the trends quickly.
The necessity to stay in-tuned with technologies and emerging trends has brought about a new executive position − CTO, which stands for chief technology officer. If you take a look at the leadership of any startup, you’ll see a CTO among the C-level executives. Even though they have become vital components for both established businesses and startups, they are one of the most undefined position among C-level management. Therefore, there’s always some confusion as to their exact role largely due to the fact that they are often tasked with pursuing abstract goals such as innovation. However, their main goal is to help the company come up with the best solution possible for its future growth by blending knowledge of existing and emerging technology.
Whether you’re looking to digitize your company’s working processes or create an innovative product, you should not underestimate the importance of having a CTO to run the tech side of your business. If you’re a tech startup it is even more crucial for you to fully understand the role a CTO in your company and what their responsibilities entails as they will be able to bring progressive ideas to the company and find advanced tech solutions. In this article, we delve into the subject and define the role of a CTO within a technology startup, from our experience as a provider of software outsourcing in sri lanka.
CTOs are never a cookie cutter role, they vary between companies and industries. They can however be categorized as the big picture executives of your startup, always looking into the future. Future of technology and the future of your company. An important distinction to keep in mind is that not all CTOs manage the IT side of a business, as discussed below.
When it comes to software companies, there are two leading types of CTOs.
The first type is
These specialists don’t usually come from a coding background, instead they have studied finance, project management, mentoring, and other non-technical skills. Because of their non-technology background, the CTOs who fall into Operational Management type usually manage organizational moments without solving any tech issues.
The second type is
The individuals who fall into this category often senior developers and have a solid background in providing software development services and leading engineering teams. For many tech startups, having a CTO with this background is extremely important to attract target audiences and investors.
The CTO role is an evolving role thus their responsibilities change depending on the role they play and the type of CTO they are. In this article we have given two various lists for the two types of CTOs listed above.
Technical talent without proper leadership is one of the most toxic environments for a startup, thus it’s vital you don’t underestimate the importance of social skills required for a CTO position. Even though the job role of a CTO is undefined, a required skill set for a qualified and experienced CTO is rather distinctive. Here we have listed down few key required skills to consider before you onboard the perfect CTO.
When you look at this list you will notice that the perfect candidate for your CTO position should have sound technical knowledge along with interpersonal leadership skills.
As you read through this article you have probably noticed that the CTO’s duties are rather diverse. To help you narrow down your search and foster the growth of your CTO we have listed down four main aspects we think a good CTO should continuously work on improving.
A Tech startup CTO is the link between strategy, tactics and technology goals. A good CTO should look at business goals and translates them into projects and advice their team on specific technology that they will need to deploy to get there. To summarize, they will be responsible for all technology related challenges within your startup.
The job role of CTA might be undefined, but one thing is for certain, the future plays a large distinctive part in the role of a CTO. They need to constantly be looking at the big picture even if that means they are thinking six months ahead of where the company is. This will help provide your company with direction. The CTO needs to constantly stay abreast on industry tech trends. Hiring a professional CTO, however, can be a real challenge. We’ve mentioned the skill set required from a CTO, and you’ll probably agree it’s a rather extensive list. Thus, it’s no surprise that the average salary of a CTO in the US is over $120,000 per year.