Hello everyone, is CoFounderslab the best place to found your partner? If yes, i really need a CTO in our on-going plan to develop an app, we already have the full description, functions, system and user interface (guidelines), our next step is to create the best team and get investment rounds. I hope i follow the rules here with this post and get some smart people attention.
You are correct, in some rare cases low-code will not deliver well (crypto, VR, algo-trading, etc). In these cases you need a highly specialist technologist who have to drop their $200k+ per year job to join you, so they must be compensated well. A general rule of thumb is to expect 20x return of their annual salary in cash after 4 years. If we talk about a techie on a $200k pa, they need to realistically walk away with equity worth over $4MM after 4 years. As long as you have a solid and perspective business, anything is possible.
You could also consider looking for a team/developer that offers equity for service discount option. This is how I funded the MVP of my second startup - the app cost me $20k instead of $40k to develop in return for 5% equity. I have a strong technology background, but I wasn't the acting CTO there, as I ad to run the entire business myself. I managed to get going without a dedicated CTO.
Yet another option is to get a technical advisor (aka part-time CTO) who can dedicate few hours per week to advise you the best strategy in return for some equity.
There are many available options to continue developing your idea even if you cannot find that perfect CTO.
Why don't you build your high fidelity MVP on a low-code platform? It is very straightforward and much cheaper than building yourself/hire a developer. You don't really need a big CTO in your early stages, just some support with technical decisions. In fact I am building an AI robo-CTO that covers most aspects of this role. It will be a part in Buildze.com - a self-service for non-technical founders building their first apps. You're welcome to check it out.
I am interested. May we talk more about this idea?
I am from Brasov so maybe we can communicate easily.
Sunt interesatasa ma implic intr-un proiect de genul acesta.
Am experienta necesara pentru organizare (4 ani) , implementare (19 ani) si scoatere pe piata (2 ani).
Putem discuta mai multe detalii.
O zi usoara,
Probably Alex was suggesting to consider MVP (Minimum Viable Product) and by "low-code platform" -> there are hybrid frameworks where you can build a mobile app quicker but without losing too much from a native app performance, without the involvement of a CTO.
A CTO can be quite expensive.
Hello Mihai, I am a software architect. I worked with many startups. I am a certified low-code developer also. I am interested in CTO roles. Let's schedule a meeting and discuss an opportunity.
CoFoundersLab is definitely a great place to make new connections and learn from others in the industry!
At NuBinary, we can connect you with one of our fractional CTO or part-time CTOs. They can help guide your business, create technology strategies, and provide technical leadership, and more.
So why do I suggest a Fractional CTO, well to start, the services are at a startup-friendly cost! Where hiring a full-time, top-level CTO may be too costly for businesses in their development phases.
Some task we can help you with are:
Check out our website if you would like to learn more, or feel free to send me a message.
Wishing you the best of luck going forward.
The best place is someone you already know,. Such as: friends, family, partners, co-workers, old school mates, etc that you already work well with or have previously done so. Setting up those relationships and dynamics are tough so that is the best option.
Next option level are recommendations from those in the circles above.
After that general pleas to the public are mostly disastrous statistically with the relationships not going well the majority of the time. It might be better to hire out on contract or on probation and then once the waters are tested you can offer that coveted partner status after you see success in working as a team.
If you have technical abilities, this will be easier, even if you can get a mentor that has them to help you screen potential partners or technical hires.
I’m interested in your project, I’m Looking currently for CTO - CIO partnership.
Currently I’m working as IT Director for one of the famous top 10 brands worldwide, also working as advisor for 100M$ tech startup in USA.
Happy to share more information and I’d like to know more about your project current progress.
please let m know how you would like to proceed.