DEIP’s essential Web3 startup advice: having a plan is vital
Don’t be afraid to start your own Web3 startup; with the right advice, you can make it a success!
DEIP is a venture studio that specializes in Web3 startups within the creator economy landscape. We have a lot of experience in this area so we want to share our top advice with entrepreneurs who are just starting with their own blockchain business ideas:
An essential part of any startup is having a plan
This includes everything from technical strategies and business goals to preparing mentally for the challenges of starting new creator economy companies.
We’re here to inspire you, so let’s fuel your startup journey and explore some simple pieces of essential advice for Web3 entrepreneurs.
Things to keep in mind
Decide on technology
One of the most important things to consider when starting a Web3 startup is deciding which aspects of the technology you want to focus on. This includes deciding whether you want to build infrastructure or focus on actual use cases. Additionally, it’s essential to think about how your company will position itself in a multi-chain world and the creator economy market map.
Reuse code
Fortunately, you don’t need to reinvent the wheel when it comes to building your Web3 business. You can take advantage of open-source code that has already been built by others in the blockchain community. Blockchain technology is very transparent, and all the code is open-source, so entrepreneurs can consider reusing parts already built before them. Taking advantage of the existing codebase is a smart move for any budding Web3 entrepreneur.
Assess capabilities
When starting a Web3 startup, entrepreneurs need to be mindful of their limits but also understand where they excel and be aware of creator economy trends. Recognizing your strengths and weaknesses will help you achieve success in any aspect of life, not least the business world.
Hire professionals
Finally, entrepreneurs should know their way around applied blockchain technology to best develop their product with all the benefits that it offers. If you don’t have expertise in these areas, look at hiring people who do!
Key Takeaways
- Form a clear plan
- Decide on which parts of technology you want to focus on, whether building infrastructure or real use cases
- Take advantage of the existing open-source codebase and think about where your business will position itself within a multi-chain world
- If you don’t have expertise in specific areas related to blockchain technology or aren’t sure how to build your product, plan to hire people who do
Here, at DEIP, we strive to help ambitious Web3 startup founders and creator economy companies make their projects a reality! Feel free to contact us for further assistance, professional blockchain consulting or startup launchpads.
