What is the top manager need a crypto startup?

Reading the announcements of rating agencies and analysts, I often find myself thinking that they are scoring the project as if it were an ordinary start-up, and the rating is created for an ordinary venture.

For example, in the ratings much attention is paid to the “former merits” of management and not a word to talk about projects in which he participated. The ratings say about the value of the idea, but the question of the token’s applicability remains behind the scenes. Ratings never touch upon the potential for growth in the value of the token and, often, humbly hold back the fact that without a product, the brand strategy of the token will most likely not be a market maker for its token in the first 3–6 months.

They do not say this only because the most important risks can not be calculated, just as it is impossible to predict the involvement of key individuals in the process of product and business development.

But, let’s start with everything in order.

I, Sergey Glukhota, founder and CEO of BEEQB, declare that the top manager of the company must have three professional and two personal qualities in order to develop the project.

1. The top manager must have experience in project management. The more such an experience, the better. This is due to the fact that a startup is a set of heterogeneous projects, the creation of a marketing strategy — a project, the profiling of employees — a project, the formation of a project team — a project. I’m not talking about the planning of functional product development, financial management and investment search — these are all projects and if the TOP manager treats the start-up and its internal processes not as a project, then the future of this project is very deplorable.
2. The top manager must be, first of all, a risk manager. Anyway, a lot of people will come to the team, who will defend their opinion, offer to split the project, change the target audience and so on. The question is not to remain always at the initial point of view, the question is to calculate the risks and predict the outcome of their offensive.
3. The top manager should be the generator of ideas. Any project is based on one person (that you are not told, but there is always a “star” that takes key decisions and is fully responsible.) If the TOP manager does not generate ideas, the project will stall and become “one of the many who could not stand competitive struggle. “90% of projects are closed due to the fact that the original idea does not develop, and development risks no one wants to impose on oneself.
4. The top manager should be able to exchange, not rarely without profit for himself. First of all it concerns information exchange. To listen to the opinion of people who have achieved more than you are not difficult. Listening to people you do not know is the position of the strong. Crypto-start-ups are a new industry and, at the moment, there are no specialists in this field. But there are strategists and consultants who, for the former top manager of UPS or the JP Morgan, are “nobody”, but they and they alone can close the missing competencies because the background of their projects is much more powerful than the person, who worked in one company, to which he had to start from scratch.
5. The top manager of a crypto-startup is required to learn. Ties.db come to mind. The essence of the project is simple: based on the Ethereum blockchain, create database engines. The fact that this idea was originally a failure, I will not even mention it. I will say that realizing that this idea is toxic, the management of the company very quickly created an “indirect product” — ties.network, which should help companies to seek and find the necessary competencies. Part of the company’s funds attracted on the ties.db part on the ties.network. The ability to learn helped the company offer different ideas to different audiences. Although I still believe that this product is stillborn child.

A crypto startup may not have a command. And as practice shows, star teams seldom deal with releasing a product. Such a startup may not have a product, this is the essence of ICO — investors invest in a token, not a product or a team. A crypto startup should have clear answers to the following questions:

1. How and why we will collect money?
2. How and by what will we develop the product?
3. How and what will the value of the token grow on the exchange?
4. Do we want to produce a product in general?
5. Which of us will remain in the team after the ICO?
6. Who will manage the money after the ICO?
7. Are we ready to use only tokens in our product?
8. Why do we need so much money?
9. “We” — the project team — is who, specifically?
10. We know what we are doing, is it even possible? Why is this possible?

Here, these ten questions should be the basis for scoring the project on the ICO and the issues that each top manager must answer every day.

Another small case.

Let’s not forget the story with BitcoinGold top managers who, perhaps without direct intentions, contributed to theft of $ 1.5 million through “mybtgwallet”, and after a few days the BTG pumped up about the same amount, which inflated the cost of btg from $ 58 to $ 263. On the official website, through which the money flowed away, there is no official message, no apology, or even an explanation of “what happened.” All is well. And given the fact that the BTG project does not bring any value to the community and just adds one more speculative currency to the stock exchanges, it is highly likely that this case will go down in history and take pride of place as an excellent example of how top managers learn.

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