Nimish Shrivastava, CTO Venuetize
“As in other parts of one’s life, life as a CTO, especially for a startup, is all about balance. The balance between adopting new technologies, and growing your own IP; while also seeing the daily product implementation through for customer success. Many of us have a hard time with the first two.
Especially in mobile, where I have worked for last twenty years, new frontiers open up, sometimes, on daily basis. Knowing that 90% of startups fail, it is critical to recognize early on the stickiness of these advancements and to be able to discard 90% of them as noise.
It is also important to recognize that the stickiness doesn’t just mean technical viability, but also its viability as a product for the end user. This is especially hard for technologists like us where a new technology may represent a better way, but user adoption may not be there.
Equally important is continued growth of IP via internal innovation from the team or new requirements from the market. The key in this area is to dedicate cycles and create a culture of idea incubation, but also to make early decisions on buy vs. build – it Is extremely important to recognize when not to recreate the wheel.
I have learned that to be effective in managing this “balancing act,” overcoming internal struggles as a technologist is as important as finding resources and defining processes on the outside to create the right environment for innovation and success.”