What Is a Fractional CTO?
A Fractional CTO is a senior-level technology executive who provides experienced leadership and strategic direction on all things technology to businesses that do not have a full-time CTO. The Fractional CTO role helps to overcome the key challenges facing many businesses today such as product unreliability, scalable architecture, overwhelming technical debt, missing product release deadlines, high costs of product maintenance, and lack of understanding of the security posture.
Fractional CTOs also advise CEOs on better ways to run their businesses from a technical perspective, help to build and grow high-performing teams and work with other senior executives to develop long-term technology strategies that align with business goals. In short, a Fractional CTO is an invaluable asset to any business that wants to stay ahead of the curve on all things technology.
When Is It Time to Hire a Fractional CTO?
As your business grows, you may find that you need more technical expertise than you currently have on the team to lead you to the next growth phase. Or, you may have a great team in place but find that you’re still struggling to meet your growth goals. In situations like these, it may be time to hire a fractional CTO.
A fractional CTO is a highly experienced technical leader who can provide the strategic vision and direction you need to take your business to the next level. They can help you assess your current technology landscape, identify areas where you need to make improvements, and develop a plan for achieving your growth goals. Fractional CTO services can also provide an objective perspective on challenges and opportunities, which can be invaluable for making decisions about investments in new technology.
If you’re not sure whether hiring a fractional CTO is right for your business, consider the risks of not doing so. For example, if you’re losing revenue because of customer complaints or missing out on new revenue opportunities, then hiring a fractional CTO could help you turn things around. Similarly, if there’s a breach of trust or communication between the CEO and technology leadership, hiring a fractional CTO could help repair that relationship.
What Are the Roles of an Interim or Fractional CTO?
We take on all aspects of daily technology and product leadership including:
Define the core technology goals and align them with overall business goals in the first days of working together including:
Execute intensive analysis of your technology platforms to identify roadblocks to scaling and recommend platform and process changes to improve business and technical operations and product quality including:
Oversee your technology development and product management teams including:
Technology and Product Direction
Ensure that your products and platforms serve the needs of your customers now and in the future by:
Technology Evaluation and Selection
Make several key tech choices for product development efforts based on the desired business outcome, cost of delivery, skills of the current and desired team, and market expectations. Put in place the structure, do the research, and make fact-based, defensible recommendations on the technologies that suit your needs. Our technology expertise spans the technology lifecycle:
How do I Transition from an Interim to a Full-time CTO?
Our typical Fractional CTO engagements are 3-6 months. At the start of our work with you, we establish a transition plan for building team capacity and transitioning the CTO to a full-time position. It sets clear expectations for leadership and provides a framework of change management for the product development team and outsourced partners.
Building Team Capability and Maturity
Our approach is to build your internal capability and competency for the technology team. First, we first show you and your team how to execute the plan and daily management, next watch your team and leaders execute while providing coaching, and finally establish a culture of mentorship. Typically after 3 sprints following the new process, we scale back our time and monitor the team as they are fully functioning and able to achieve the technology goals established.
Transition Fractional CTO Role
A large percentage of our clients go on to hire a full-time CTO or VP role so we work directly with you through the hiring and onboarding phases including:
“We had a great product but had holes in our SaaS architecture and security. Ten Mile Square came in to conduct a technology assessment and quickly laid out a plan, executed the strategy, and provided us the resources we needed. Serving as our fractional CTO, Frank understood our business and growth goals. He provided the foresight of what we needed to meet our company’s technology vision.”
– ADAM GROSS, CEO, RIGHTEYE
Turned Revenue Losses into Multi-million Dollar Gains
Ten Mile Square worked integrally with iJET to transform its travel risk management SaaS platform. Fulfilling the Fractional CTO and other product management roles, we worked alongside the iJET team to realize its platform vision and increase revenue:
Doubled Development Team Velocity
Ten Mile Square initially performed a comprehensive technology assessment for healthtech, Right Eye, that lead to ongoing Fractional CTO support to implement improvements across the board and uplift the entire organization to new capacity and capabilities.
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