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hoosing the right founding team can be one of the most challenging parts of opening a cryptocurrency project. With the right team the stars are the limit, with the wrong team things can rapidly fall apart. In this article we are going to look at the skills that are required to build the founding team. As with this article or any other in our eLearning platform, these are just our thoughts and opinions.
When we start putting founders into roles, its important to know what strengths the person has. Not every role has the same daily tasks and has some different requirements.
No matter what kind of project, no matter what your use case is, there are pros and cons of being a founder. Many people want to start a project because they have a idea, and want to take that into the world. Here are a few quick notes about founders.
- Founders share the same interest in the project direction and have the same project goals.
- Founders are required to put in more time then the rest of the team as they have more to gain in reward.
- All founders will be treated equal. Everyone needs to feel that have a say and are included in conversations.
- Founders should have a wide range of backgrounds. This helps in finding creative solutions for complex problems.
- Each founders role should have clear limits. There should be no overlap in roles.
- Founders should share in any start up costs that the project might incur.
In our opinion, the most common number of founders to start with is 5. These would be 1 coin developer, 1 network engineer, 1 graphics artist, 1 marketing expert, and one discord moderator. With these people you can start creating blue prints for the rest of the project.
Common Founder Startup Tasks
When creating a cryptocurrency project, there are a number of things you will need to do in order to take your awesome blockchain project to the public. Many of these tasks will require people of technical skill to accomplish before other task can be done. We will outline below the first task that the project founders will need to do before the project can be used.
- Create a Project Name.
- Buy Project Domain Name.
- Create Website for Project.
- Create Social Media Accounts for Project.
- Create White Paper for Project.
- Create the Cryptocurrency Code Base.
The list above is a fairly straight forward work list. Many of the parts can be accomplished quickly however, more complex use-cases might require enterprise network building so extra time might be a factor.
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Real teams work together on tasks.
Every project the team works on can be divided into different tasks and work items. These items can be shared among the team so that everyone can help in the project and contribute toward the projects goals. It is important for people to have the opportunity to have input on projects and to have those thoughts weighed. Some of the best teams have great internal debates about features and ideas. This is a great part of being on a team. When we debate items or issues or other project features, we are really making sure we believe in the directions we are going.
Making sure we believe in what we are doing is as equally important as our use-case. When we think about a good use-case we also have to about our ability to accomplish what we are trying to achieve.
Have a dedicated developer for the wallet code.
This is one of the most important task if you are going to be creating a cryptocurrency project. Have dedicated developer to work with your code base so that if any problems arise, or you need to issue updates, these can be done in a timely professional manor. Many people are counting on the project having a great developer who can make sure the chain runs smooth and upgrades in code are seamless.
What will be your security stance?
Security is very important in the cryptocurrency space. Matter of fact, its is the reason why most of us have chosen this path. How are you going to secure your project and your investors from fraud and abuse? Will you have a blockchain that promotes security only, or will you build security into your day to day operations? There are many types of security to think about. A few of these are firewalls, anti-virus software, and even vpn or ssl access. Keeping a secure stance is important for the life of the project and needs to be built in from day one to have the best shot at success.
These are some basic ideas on the founding team that we hope can get you on your way to understanding more. The idea of this article is to break these parts down into more simple ideas, as we will be discussing these ideas in more detail in later articles.