Lessons Learned from a Decade in the Startup Space as a CTO and Co-Founder of Multiple Startups

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Introduction

Over the past 10 years, I've been in the startup space as a developer, CTO, technical co-founder, and also built a software development agency. I now work with multiple founders to help launch their startups or advise them when they're stuck. In this blog post, I will share a few lessons I've learned throughout my journey in the startup ecosystem (these are purely my opinions, feel free to disagree). These insights will be particularly helpful for founders who are struggling with tech and considering different options.

Technical CTO traits 🧠

You need a hands-on CTO and co-founder (equal partner) who can get a prototype or MVP off the ground (with no-code or some basic coding), or at least find a few affordable freelancers to help get things going. This way, you won't spend crazy amounts of money on development and can iterate quickly. I would never recommend co-founding with a CTO who isn't willing to get their hands dirty in the beginning, as there will be so many pivots, quick fixes needed, etc.

Hiring software dev agencies - last resort ⚠️

For non-technical founders, this can be a huge pain and costly. Agencies' intent is to get as much money as possible from you, while your goal is to spend as little as possible at this stage to create something scrappy. This collision of interests often leads to conflicts. I recently spoke to a non-technical founder who hired an agency they trusted as tech experts to own the domain. The result? From a 6-month estimate, it's now 18 months and counting, and they're still not live (poorly managed scope, new features kept being added as they went along, etc.). Also, it can be harder to secure funding if your whole tech is done by an agency and your team lacks tech expertise. Therefore, hiring an agency at this stage is only an option if you have someone technical on your end who can manage the agency very closely, cut down on cost, scope, etc.

Consider interim options only if you can't find a CTO co-founder 🕵️

Fractional CTOs are becoming more popular. You simply pay hourly/monthly, and they help structure the scope, find an agency or freelancers, and get your MVP going while ensuring everything runs smoothly and acting as your advocate. They bring experience and connections to the table, helping you make informed decisions and avoid common pitfalls. Later on, they can help hire/find a full-time CTO.

Be careful making a developer a CTO right away ⚖️

While it might be tempting to bring a friend who is a developer on board as a CTO, be cautious. The skills needed for a CTO go beyond just development expertise. A CTO should have a strategic mindset, experience in scope and team management, and a deep understanding of the industry. Make sure your friend has the necessary skills and experience before giving them such a critical role in your startup. You need to be open about it and discuss it. I've seen multiple scenarios where founders had to buy out a CTO, or they hire a CTO on top which brings some tensions, or sometimes it really works out and the engineer grows into a flourishing CTO. Key traits to look for in the CTO: openness, transparency, leadership, ownership.

Trim scope down as much as you can 📐

Usually, founders have a huge vision. But always try to think from an angle of: what is the key feature (feature set) that can help you prove that this idea has legs? Maybe it's a form calling ChatGPT and providing a response with some flavor, or maybe it's just a UI wrapper on top of some API/Web (where you basically utilize things other people built), and you can brand it with your twist to see if it gets any traction.

Conclusion

Being a CTO and co-founder in the startup space for over a decade has provided me with numerous experiences and valuable lessons. Understanding the importance of having a hands-on, skilled CTO, knowing when to hire an agency, considering interim options, and the significance of trimming down the project scope are just a few of the many insights I've gained. By sharing these lessons, I hope to help those who are struggling with technology decisions and considering different options in the startup world. Remember that every startup journey is unique, and learning from each experience will help you grow and make better decisions in the future.

If you have any questions or need more advice, please don't hesitate to reach out. I am always happy to help fellow founders navigate the challenges of the startup space and make their dreams a reality.




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About me

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Experience

- 10 years of software development experience.
- 6 years of experience in the web3 space.
- Last 2.5 years as a CTO in a US-based web3 startup.
- Hands-on experience building multiple MVPs and developing
solidity smart contracts and integrations.

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