4 Positions Your Tech Startup Needs to Fill

By January 5, 2021Startup
tech startup hiring roles

90% of new businesses end up failing, and tech startups are more prone to this due to the newness of the ideas they usually bring to market. Hiring the right team to guide your tech startup from its infancy through its growth stage is one of the universally recommended ways to guide your company to success. 

According to a survey by CBInsights, 23% of small businesses fail because of not hiring the right management team. The company’s first managers have a very important role in the firm as they set the organizational and departmental policies and culture, which is often difficult to change as the company ages.

Here are 4 other crucial roles that you should consider filing for your tech start-up.

1. Chief Executive Officer (The Visionary)

This the leader of the team, whose goal should guide the team members. The position involves setting up the long-term organizational vision, then coming up with strategies to meet them.

A CEO is responsible for the building, development, and motivation of the senior executive team and is usually heavily involved in their hiring. A solid, cohesive team will lead the company to success, while a bad mix or composition of the executive results in business failure.

Start-ups and small companies are often unable to hire specialists and consultants, and the CEO should be able to step in and help solve this problem.

Other important roles for the team leader in a growing tech firm include:

  • Creating the organization’s culture
  • Dealing with other third parties, including suppliers and the government.
  • Making all the important decisions, including operational, marketing, and managerial.

2. Chief Sales Officer (The Hustler)

No matter how useful a product is, your business will not succeed without a strategy to generate leads and acquire new customers. This position is even more crucial in the highly competitive and dynamic tech industry.

The chief sales officer is responsible for coming up with and implementing customer acquisition programs and formulating strategies to keep clients. They ensure that the tech company’s product brings in enough revenue and profits to sustain its growth.

3. Chief Financial Officer

The CFO is responsible for the Finance and Accounting departments. This entails acquiring funds for the growth process and ensuring they are used appropriately. Money-related decisions all the way from budgeting to bookkeeping also fall under their jurisdiction.

A competent CFO ensures that there are strategies to acquire more funds if needed. They also usually accompany the CEO to meetings with current and potential investors to discuss the company’s financial health and expectations.

4. Chief Technology Officer (The Doer)

A CTO fulfills various roles for a growing tech company, including developing a customer-focused product and leading the coding and engineering teams. The position requires an officer that is competent both in the technological and business aspects of the company.

They are usually the first hires for tech start-ups as they play a big part in actualizing the product. CTOs are also responsible for managing all aspects of the project during the development stage. This is why you need to hire an officer that has management skills in addition to the coding and marketing skills required for the job.

Does Your Growing Tech Company Have These Employees?

Hiring the right employees for the important roles highlighted above can make or break your company. Your firm’s growth is highly dependent on competent leadership and the above hires will increase your survival rate.  

Now that you have assembled a great team, you only need tax professionals to help develop a working tax credit strategy to ensure your tech company is taking advantage of all the tax credits available to it. Contact us today for a free consultation.