How CTO as a Service Can Help Companies with Limited Budgets
Many startup owners have big ambitions but limited budgets. Another common problem is having a great idea, but not understanding how to implement it. After all, creating a new product is a complex process since it needs to be created from scratch. Many business owners need to figure out where to start, and decisions made early on should lay the foundation for your project.
If one of the processes suddenly fails, the consequences may be irreversible and then you will have to spend much more time and money. But you can use an excellent solution - a virtual CTO to prevent such situations. An employee with professional CTO skills will help you streamline the design and development process of a product and, at the same time, save your budget.
Who Is Virtual CTO?
First, let's figure out what is CTO in business. A Virtual CTO is a professional consultant who provides expert technical knowledge and guidance to companies on a project or part-time basis.
How Does Your Business Benefit from CTO as a Service?
Below we will find out how virtual CTO services can positively affect the development of your business.
Cost efficiency
If you decide to hire a CTO as your full-time employee, it will cost you a lot of money. But by turning to CTO as a service, you can save money since you will only pay for the completed parts of the work.
Expert skills and knowledge
When you decide to use CTO as service, your company receives an employee with professional skills, expert knowledge, and extensive experience. In this way, you provide your company with guaranteed growth and the opportunity to use advanced technical solutions.
Future prospects
An expert providing your CTO service can offer a fresh perspective on your capabilities and ideas for growing your business. They can also help you make informed decisions that will optimize your work. A flexible cooperation model reduces the risk of the business being idle because you can always find another employee if the previous one is unsuitable for your company.
Business scalability
As your business grows, so will your technology needs. By working with a virtual CTO, you can always be confident that you can scale up or down your technology initiatives whenever needed.
How Much Does Virtual CTO Services Cost?
The cost of fractional CTO services varies depending on several factors, such as experience and location. If we talk about specific amounts, you can see approximate hourly rates for specialists in different regions below.
- Eastern Europe ($100 - $200 per hour)
- Western Europe ($200 - $300 per hour)
- South America ($90 - $180 per hour)
- Asia (<$120/hour)
One of the most profitable solutions would be to hire an expert who meets all CTO qualifications in Eastern Europe since specialists from there charge relatively little money for their services and still provide high quality.
Summary
If you are a business owner who wants your business to prosper but simultaneously has a limited budget for creating a project, then an excellent solution for you would be to resort to hiring a part-time employee who meets all the CTO requirements. Thanks to this solution, you will be able to gain knowledge, skills, and experience that will help you not only benefit your business but also save money that can be distributed to other aspects of your business.
If you want to cooperate with a virtual service station, feel free to contact us. We will select someone who can instantly join your team and has all the necessary CTO skills.
