Every business DOES NOT need to hire a Chief Technology Officer. Finding qualified CTOs for small and medium companies is a very difficult task considering the financial aspect and business needs. For many SMBs, alternative solutions can be better than hiring a CTO. SMBS can build on technology without a specific person dedicated to digital implementation just like in MNCs. Here are some better alternatives to meet your SMBs tech needs
Hire developers: Hiring a developer is an easier and better option to meet your tech needs. In the house, developers make communication easy and you’ll appreciate the cost of hiring the developers. Negotiate a part-time contract: Look for someone who has the right skill and experience. Then offer them a fixed salary and not equity in the company. Unlike CTOs, these part-time contractors will be more than happy to receive a fixed income. Along with this, the leadership team will have more control over the management of the company.
Outsource the role: Outsourcing is one of the best options available. A lot of large companies too are switching to outsourcing. This allows companies to hire the best talents around the world and not limited to someone within a certain geographical boundary.
Research and Partner with a local agency: These agencies have large networks and can offer your business a right skilled freelancer who can accomplish your job quickly. Trying to find a nice spot between your business vision and technical needs can be difficult. Instead of going with the hype to hire CTOs, consider the above alternatives, and save yourself from a lengthy process of searching and potential headache along this journey.