Are you ready to build a technical team?

By Laura Crossan, Marketing Coordinator

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As a business owner, you may have started your business with a brilliant idea, a unique service offering, or a disruptive product concept. But as your business grows and evolves, you may come to a point where you need to build a technical team to support your vision. 

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Whether you're a tech-enabled company that is looking to optimize the delivery of your service or a tech company (i.e., SaaS) developing cutting-edge products, having the right technical expertise is crucial for your success. But how do you know when it’s time to create a technical team? Let’s find out together.

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Tech-enabled Companies 

If you are a tech-enabled company that provides a service offering that is not inherently technical, you may still reach a point where technology becomes essential to your operations. This can happen for various reasons, such as:

1. Scale and Efficiency. As your business grows, you may find it challenging to manage your operations manually or with basic tools. Investing in technology can help automate processes, streamline workflows, and improve overall efficiency.
2. Customer Demand. If your customers are increasingly expecting a digital or online experience, such as online bookings, customer portals, or mobile apps, you may need to invest in technology to meet their expectations and stay competitive in the market.
3. Data Management. If your business deals with large amounts of data, such as customer data, transaction data, or inventory data, you may need a technical team to develop robust data management systems, ensure data security, and extract insights from the data to drive business decisions.
4. Innovation and Differentiation. Technology can be a key driver of innovation and differentiation in any industry. If you want to stay ahead of your competitors and offer unique value propositions to your customers, having a technical team can help you develop and implement innovative solutions.

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When considering whether or not to build a technical team for your tech-enabled  company, it's important to assess your specific needs, budget, and long-term strategy. You may need to hire a Chief Technology Officer (CTO) or a technical co-founder who can bring the right expertise and leadership to drive your technology initiatives. This person should be able to understand your business goals, align them with the right technology solutions, and manage the technical team effectively.

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Tech Companies with Product Development

For tech companies whose main product is developed by engineers, having a strong technical team is not just an option but a necessity. As a tech company, your core offering is technology-driven, and your success largely depends on your ability to develop, maintain, and continuously improve your product. 

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Here are some signs that it's time to create a technical team:

1. Product Complexity. If your product has grown in complexity or requires constant updates and improvements, having a dedicated technical team can ensure that you have the right expertise to manage the technical aspects effectively. This includes software development, quality assurance, DevOps, and other technical roles.
2. Scalability and Performance. If your product needs to handle increasing user demand or has performance and scalability requirements, having a technical team can help you optimize your product for performance, scalability, and reliability.
3. Innovation and Research. Tech companies need to stay ahead of the curve by constantly innovating and researching new technologies. Having a technical team can help you conduct research, develop prototypes, and stay up-to-date with the latest technological advancements.
4. Customer Support and Maintenance. As your customer base grows, you may need a dedicated technical team to handle customer support, bug fixes, and maintenance requests promptly and effectively to ensure customer satisfaction.

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Building a technical team for your tech company may involve hiring engineers, developers, product managers, and other technical roles depending on your product.

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The future is yours

Building a technical team is crucial for businesses to stay competitive and succeed in today's digital world. Whether you're a tech-enabled company or a tech company with product development, it's important to assess your specific needs, budget, and long-term strategy before making any decisions. However, if you decide that hiring in-house is not the right option for your business, you can still utilize VAULT's technical expertise to support your operations and drive innovation. Contact VAULT today to learn more about our tech services and position your business for success.