As fractional CTOs become more common across the board, there’s still a lot of confusion about just what they do and how they do it. Here are five common myths about fractional CTOs and some clear facts about what they actually do (hint: it’s not just coding).
Myth: Fractional CTOs are primarily coders
act: Fractional CTOs are involved in the big picture
While some fractional CTOs undoubtedly started out as coders, in the role of CTO, they typically take a more high-level approach. They may oversee a team of coders or IT professionals: planning, managing, tracking, and reporting, rather than getting into the nitty gritty business of coding themselves. And not every CTO is a coding expert—but they understand how to manage and motivate a team of coders to complete projects successfully.
Myth: Fractional CTOs only work on product development
Fact: Fractional CTOs can help with a number of tech-related functions
While many companies use CTOs for product development, it would be a big mistake to assume that’s all they can do. Many fractional CTOs are well-equipped to handle strategizing, growth, business transformation, and more. They can do everything from leading your tech department to building a long-term growth trajectory for your organization.
Myth: Fractional CTOs work alone
Fact: Fractional CTOs work closely with CEOs and CFOs
While a CTO may understand your company’s tech better than anyone else, they work with your CEO and/or CFO to make informed technical decisions. Fractional CTOs will often report to these people, and they bring their understanding of tech, plus their knowledge of how your company is progressing tech-wise, to every cross-department meeting. In other words, they don’t work in a vacuum.
Myth: Since fractional CTOs don’t work in-house, they won’t “get” your company
Fact: Fractional CTOs have a lot of insider knowledge that allows them to quickly understand most situations
Most fractional CTOs have been around. Chances are, they’ve already worked on some projects very similar to yours. While they may not have the same knowledge base as someone who’s been with your company from day one, they’re usually fast learners and good at jumping in quickly. They also bring a lot of tech and business knowledge your company most likely doesn’t have.
Myth: Fractional CTOs are expensive
Fact: Fractional CTOs are highly cost-effective
CTOs don’t come cheap, but hiring a fractional CTO allows you to get a tech expert on your team without paying for a full-time salary. And while it may seem like a large upfront cost, hiring a fractional CTO (or any type of CTO, for that matter) nearly always pays off. Because they can help your team work more efficiently and help your company expand its reach, fractional CTOs will often increase your bottom line and save you thousands of dollars in the long run.
Need a fractional CTO for your company? Talk to a CTO at Band of Coders and get a free consultation.