Startups are babies and everyone love his/her baby. In today’s world when everything is getting digital, demand for technical people is also increasing day by day. Some people need CTO as an employee some people need as a co founder. But it’s always confusing whether a startup should hire technical CTO or bring them as CoFounder. Bring anyone as CoFounder is very tough job because you need to analyse them before offering them equity in your business.If you are sharing equity with them, you need to look at the value they are going to add in your business. Here is my opinion about this aspect of businesses.
There are many things you need to consider when you go digital with your business. First thing you should do is check your viability without going digital first. For that develop MVP(Minimum viable product) or MVE(minimum viable ecosystem). I would suggest you to go for MVE. When you are sure that your solution is a viable idea and digital operation is going to give it a boost then you should think about going digital. This process will save your capital a lot. Once you are sure that you need to boost your business and you need to technology for that, that is the stage where you need someone to boost your business on your vision. There you think about offering someone equity and hire some CTO.
You should think many times before doing this. First identify your business nature; as equity is not something you give it to someone for 4 months or 1 year, it’s the part of your business. Equity in business is like blood in your body, you only share it when its crucial and at that time don’t hesitate. So Share equity with someone who is going to add permanent value in your business. Not like if product is developed then he is free to do other things. The person you are offering equity should join you on your vision. Make sure he is the domain expert you need because only best people can deliver you best results. Identify your business if it needs continuous updates then you need him for the longer period, and if you can survive without him in that time you don’t need to share equity. Just Hire a CTO; organisations provide you dedicated CTO and other development teams as well. Visit Al-Burraq Tech for Best website designing and development company usa.
There are some crucial issues when you hire someone as CTO, it’s not like everything goes good. First and most important is you don’t get dedication that is needed, for that you should choose to hire people from organisations not individual freelancers, that is because most of them are doing it part time and they will not opt it as a career so consider reliability. Then if you hire some company they will give you alternate when needed and you will have option. In case of individual he is going to ruin many things for you. So when you hire some CTO choose reliability, skill and dedication. One thing you need to look at is company vision, because you are not going to get aligned with them on it what you should do is choose one with overlapping vision. This will let you live with them.One liner in the end is Hire CTO when you don’t need continuous updates in your digital ecosystem and Share equity when you need it. Look at your business to decide what is needed.