Founders of crypto and blockchain companies launch with a vision of bringing an innovative and impactful service to the business or consumer marketpla
Founders of crypto and blockchain companies launch with a vision of bringing an innovative and impactful service to the business or consumer marketplace. And as with entrepreneurs in any industry, they have the goal of growing. With expertise in the technology and its potential, leaders of crypto and blockchain firms may be clear on the “nuts and bolts” aspects of scaling — infrastructure upgrades, interoperability, compliance and so on — but less knowledgeable about the business development side of growing a company.
Crypto and blockchain companies seeking to expand will need to make multiple decisions — but first, they need to know all the questions that have to be answered. Below, 16 members of Cointelegraph Innovation Circle share some of the factors growing companies will need to examine and offer their tips for confidently moving forward.
Focus on a specific market
When working on scaling your business, it’s important to stay focused. Sometimes business development folks think that the more target audiences a company can reach, the better. However, history has shown that focusing on a specific, niche market always works best and, ultimately, leads to the most success. Focus on one key market at a time and do the best job for their particular needs. Only when you’ve done that should you move on to the next one. – Ayelet Noff, SlicedBrand
Start by building a brand
The best thing you can do is to ensure you focus your marketing and communications efforts on building a brand. That is by far the best way to ensure the path to market is as smooth as can be for your project. If every time one of your sales or business development people encounters a prospect they have to start with the bees and the flowers, you’re doomed to fail. Do your job. Build a brand! – German Ramirez, THE RELEVANCE HOUSE AG
Create a story about your project
Grow your crypto company the same way you would take a journey: Don’t just keep your foot on the gas pedal the whole way. You also need to search for the best routes, make some friends along the way and, most importantly, create a story about your project that resonates with people. Lead your company with both ambition and care and find the balance between fast growth and lifelong success. – Bogomil Stoev, Seasonal Tokens
Expand your community
Build meaningful partnerships and grow a strong community. Expanding your community helps expand your reach, granting you access to experts in the space. Partnering with an established business brings valuable experience and knowledge to the table, as these partners can provide insights into industry best practices and trends. Leveraging their knowledge can assist in accelerating B2B development. – Anthony Georgiades, Pastel Network
Sync growth with marketplace rhythms
Be the blockchain maestro! Balance your technology and business in harmony. Just as a maestro conducts an orchestra, ensure your tech team hits high notes with scaling solutions while your business team plays a melody of building partnerships and meeting customer needs. Sync your growth with the rhythm of the market to compose a masterpiece in the crypto and blockchain symphony! – Erki Koldits, OÜ Popspot
Blend ‘science’ and ‘art’
Scaling a crypto and blockchain company requires a blend of “science” and “art.” The “science” lies in measuring the effectiveness of activities that yield desired outcomes — for instance, prioritizing partnerships and reaching out to compatible industry companies. The “art” entails effectively communicating with partners and cultivating an appealing brand image. – Arvin Khamseh, SOLDOUT NFTs
If you’re collaborating with influencers, choose wisely
If you want to collaborate with influencers, look for those who are able to convert, rather than those with mass audience sizes. Choose influencers who create content that is closely related to what you do, who can act as your ambassadors, and who believe in your work and have a connection to it. They will promote you in a much more effective way. – Tammy Paola, Zerocap
Build with your client base in mind
Choose a lane. It often comes down to focusing either on Web2 enterprises or Web3 natives. Find out what makes your client base tick, build for them and target them in ways they will respond to. Web2 clients may need case studies, hand-holding and a focus on compliance. Web3 natives may prefer to use platforms they heard about on Twitter that have token incentives and forward-thinking user interfaces. – Shiv Madan, Moonwalk
Join the community where you can transform the future. Cointelegraph Innovation Circle brings blockchain technology leaders together to connect, collaborate and publish. Apply today
Embrace tactical partnerships
Embrace tactical partnerships in crypto and blockchain to scale your business. Find aligned organizations and leverage complementary strengths to access new markets, foster innovation and mitigate risks….
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