You too can (should) be a Fractional CTO!
Navigating the World of the Fractional CTO: Deals, Delivery, and Domain Expertise
Hi everyone! We recently launched our new fCTO Sessions and it is my privilege to share more about what we covered in our first call. You’re always welcome to join our 7CTOs Community at $100/m. Applying is Easy.
The three D’s of your Fractional CTO endeavor
In the realm of Fractional CTOs, individuals often find themselves stepping into companies facing challenges, whether due to financial constraints, resource limitations, or a need for leadership.
This recent discussion in 7CTOs explored the three crucial elements that define success in this role: deals, delivery, and domain expertise.
Deals
It is critical to have a robust deal flow and network for fractional CTOs. Deals translate into revenue, making a fractional CTO a valuable asset. From struggling startups seeking affordable expertise to large enterprises with high expectations, deal-making is a pivotal aspect. Successful deal-making leads to a thriving business, turning over clients and generating income.
Delivery
While striking deals is crucial, delivery holds equal importance. Delivering on promises made is essential for long-term success. Without effective delivery, even the most lucrative deals can turn sour, impacting the reputation of the fractional CTO. The ability to fulfill commitments ensures customer satisfaction and enhances the chances of receiving referrals.
Domain
Domain expertise is defined not just by experience but by adhering to best practices. A solid grasp of the domain, coupled with a commitment to best practices, contributes to sustained success. This expertise, when combined with effective deal-making and delivery, forms the trifecta of a successful fractional CTO.
What happens if you’re only good at some of this stuff?
As you contemplate engagements, you’re probably thinking that you’re not good at ALL the facets of being a Fractional CTO. That’s ok! We all have to start somewhere. But consider the following pitfalls.
If Deals 👎
Poor deal flow results in diminished revenue and a lack of networking opportunities. Obviously if you don’t have clients, you won’t have referrals and therefore probably won’t have a strong network.
If Delivery 👎
Poor delivery damages your reputation, affecting both your clients and your peers. Clearly your peers would not want to refer you if you’re not showing up with the goods. On the flip-side, don’t be shy to ask your peers for referrals.
If Domain 👎
If you are lacking in domain expertise, not only does your reputation suffer, but referrals from fellow professionals become elusive. It’s always easier to refer you to a company that needs a specific problem solved. For instance, if you’re awesome at building models, or threat modeling, or staffing, or …
Conclusion
In the dynamic world of fractional CTOs, success hinges on mastering the delicate balance between deals, delivery, and domain expertise. You may not be good at all three of these, but hey, we’re not perfect. But we have to start somewhere.
Head over to our 7CTOs Calendar and sign up for our next Fractional CTO zoom call where we all help each other out!
Are you based in Austin? Join one of our in-person CTO peer groups.
We have a few spots open for our peer groups in Austin. Your engineering team size needs to be around 20-80 people. Find out more by emailing Nina at admin@7ctos.com.
Calling all Startup CTOs. Join the 7CTOs Growth Community today!
We have a very special program just for CTOs with team size of around 2-20 engineers called the Growth Program. We meet twice a month for a group coaching call and we also do one assessment of your organization a month. Membership is only $300/m.