I had my first Fractional CTO gig 7 years ago.
- A Fractional CTO is a professional providing technical leadership on a part-time or project-by-project basis to a company.
- There are multiple reasons why a company would hire a Fractional CTO.
- Remote work, high salaries, and startups cutting costs to extending their runway are 3 key factors boosting the demand for Fractional CTOs.
Since then had close to 15 clients. All paying nice hourly rates.
This is what I know and what you should know about being a Fractional CTO.
Here’s What You Need To Know About Being a Fractional CTO
Fractional CTO is a role that's becoming more and more popular these days, especially among startups.
In this article, we'll have a closer look at what it means to be a fractional CTO and what you need to know if you're considering taking on this role.
What Is a Fractional CTO?
First of all, what exactly is a Fractional CTO?
A Fractional CTO is a professional who provides technical leadership on a part-time or project-by-project basis to a company that does not have a full-time CTO.
They work closely with the leadership team to identify and prioritize technical initiatives, develop and implement technology strategies, and ensure that the company's technical resources are aligned with its business objectives.
Why Would Companies Hire a Fractional CTO Instead of a Full-timer?
Well, here are a few reasons why:
- Companies don't have the budget for a full-time hire.
- Hiring a Fractional CTO is faster than hiring a full-timer.
- Companies want to build technology, but don't know how.
- The company is transitioning from outsourcing to in-house development.
- The company needs to hire many engineers.
- The company wants to raise venture funding.
- There's a roadmap and a team, but there are "issues".
3 Key Factors Accelerating the Demand for Fractional CTOs
- Remote work.
- High salaries.
- Startups cutting costs to extending their runway are more likely to hire a Fractional CTO than before.
How a Client Inquiry for My Fractional CTO Service Looks Like
This is what a typical client inquiry looks like. Certainly, for many clients, I need to jump on an intro meeting to clarify these points. But some people in my network send me pre-brushed inquiries like this.
Find Your Client Persona
If you're thinking of becoming a Fractional CTO, one of the most important things is to find your "client persona". The more you differentiate, the more value you provide to your clients.
This is it for me:
- Early-stage startup.
- With solid funding (Seed or Series A).
- Without a full-time CTO.
- In the Fintech vertical.
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