How to work together successfully on a Web3 startup: 5 important tips

No matter how brilliant your startup idea is, it won’t succeed if you don’t have a great team to lead. Even the most visionary leaders need the right group of capable people to turn their startup into a well-established, profitable company. They are the ones who will make your vision a reality and save you a lot of time, money, and heartache in the long run.

Ultimately, the success of any startup is down to how well the team works together as a whole. Just a few inefficient members can send a business spiraling down into mediocrity. You can probably name a few startups that started small and found the right people to become a major enterprise, especially in the tech industry.

That’s why all entrepreneurs, including those in the Web3 sector, must understand how to work together as a successful startup team. This article will guide the way.

Assembling a successful Web3 team

As mentioned earlier, you need a great team. One that works tirelessly towards a common goal in a healthy culture. But it’s more complicated than putting out a series of job postings and hoping for the best. To make the task easier for you, we compiled five proven tips that will help you gather a dream team and come together as a dynamic whole.

Set a vision

It all starts with setting a vision that all members can be passionate about and see as an ideal to work towards, not a corporate goal. A vision is not your bottom line or market size. It’s the fundamental, immediate, and far-reaching problem your company wants to solve.

For instance, in the Web3 industry, providing a decentralized platform for publishing uncensored information and introducing new value exchange solutions, especially for content creators, are some of the areas where you can make a significant global impact.

How does that help build a good team? Once you have established your vision, seek out people who strongly identify with these problems and often struggle with them. In this way, you can find like-minded team members who feel personally connected to your vision and will happily dedicate their time and energy to the cause.

Define roles and responsibilities

Figure out where you need help (e.g., in sales, as a Web3 developer, Web3 engineer, project manager, or interface designer) depending on where you are and where you want to go.

By looking at where you are now and what your vision is, you can prioritize which positions you need to fill first and balance the number of hires. It’s illogical to hire four interface designers and have a single Web3 developer on board.

When hiring, clearly define responsibilities with your team members. Write a document and sign it to avoid any ambiguities or confusion later down the line.

Set requirements

Keep in mind that you may not need full-time employees initially. Search for part-time talent who excel but don’t cost as much. This way, you can find out how well they fit your vision before committing to long-term cooperation.

Just like in the early days of the crypto industry, there’s huge scope in Web3 for innovative minds to shape the future. But unless you can easily find these people locally, it makes sense to opt for remote working. As you know, you can put a detailed job description on multiple websites and social media platforms, such as LinkedIn, and extend your talent search across the globe.

You can specify all your requirements in the job posting, including the skills you expect a potential candidate to bring to your startup team. For instance, if you’re looking for a Web3 developer, you need to know what tech stacks they use and what they excel at. Web3 SDKs are well-known libraries that help developers build dApps, support blockchain interactions, and perform other functions. Does your candidate have experience in working with this technology?

A Web3 developer should also be able to create or at least use an ETH wallet and have a deep understanding of the blockchain concept. Finally, it would be helpful if they are familiar with Web3 protocols, tools, and platforms like DEIP, focusing on providing a reliable infrastructure for those in the creator economy.

Once you’ve gathered a shortlist of candidates, it’s time to interview.

Test workers’ skills

Setting a vision helps you figure out what skills you need onboard to move forward. Once you’ve shortlisted the final candidates, it’s time to see if they are the right fit. You can spend many hours looking through impressive resumes, but in a Web3 startup team, they need to prove their abilities.

Let’s say you’re looking for a part or full-time developer to join your Web3 startup team. To assess and verify the level of experience and expertise in Web3 development, you can give them several small coding tasks. Explain the entire process in a written briefing or video presentation and, since this is a sample assignment, it shouldn’t take more than an hour to complete.

You should compose these coding tasks based on the different needs of your project. For instance, you can design tasks to create nodes/a crypto wallet or write smart contracts. This way, you see how they perform in each area and if they fit into your group.

Encourage and reward

To build a highly effective team, you need to create a culture where everyone feels strongly about the vision and will strive towards it. So make sure you acknowledge the input of your team. Holding lackluster, formal staff meetings will get you nowhere, even with the most capable team in the industry. You need to encourage and reward your team members for their enthusiasm, valuable insights, and solutions.

Things as simple as an extra day off, personal gratitude, and public recognition or more high-value rewards, such as trips, can boost the spirits and productivity of your Web3 startup team.

Conclusion

This article has shown you how to build a talented Web3 startup team committed to your vision. If your team members truly feel the company’s vision is personal to them, they will do everything they can to make that startup a success.

But alongside the skills, drive, and ambition a team brings, you need the right tools and technology to succeed and create value for your company. At DEIP, we provide the infrastructure to help your Web3 startup prosper.