With the current ICO craze that has been seen lately, more and more people are starting to get their hands in on cashing their ideas. We have seen some of these startups become huge successes, but not all of them have the same Cinderella story. A majority of projects failed and even became unheard of. Some even fail to gather a single investor.
There are a lot of factors that may affect the success and failures of these ICOs but the main thing that everyone is looking at before investing in a startup is the composition of the team. The team is the entire heart of the whole operation. Think of it as the components of a watch, when one is out of sync or missing, the watch will not function. Today, we will be learning on what makes a team and how they fit into a puzzle and make the ICO succeed.
The CEO /Founder is the main source of the inspiration. This is where the idea for the project starts. I have described before that a good ICO team is like The Avengers. The CEO or Founder can be described as something similar to The Vision. They have vision, which is the main catalyst for starting the project and very good analytical skills to keep the ball running.
They also have very good organizational skills as they are able to gather individuals to form a team based on their individual strengths and weaknesses. This is similar on how The Vision manages to be one step ahead all the time because of his analytical skills.
The COO or Chief Operating Officer is the second in command in the business side of the whole organization. This individual usually takes care of the day to day operations of the project. They oversee all the progress of the whole company. All the divisions submits their daily report to this person and in turn submits it to the head of the company which is usually the CEO.
What you should need to look for a COO is very good managerial skills. To be able to juggle the responsibility in managing an organization successfully needs some serious managerial skills. This is like the Captain America of your organization, someone that everyone can rely on all the time.
The CTO is usually the other half of the inception of the company. They are considered the rock stars of the team. This is where most of the inspiration and the direction of the company comes from. The engineering and development department is directly under the management of the CTO. Like the COO, the CTO should need serious background in managing teams, thus managerial experience is a necessary.
Aside from the managerial experience, the CTO also needs to be technologically inclined since they are directly responsible for managing the technical teams of the organization. A background as a developer is usually a very good candidate for being a CTO. A perfect example of a CTO is Tony Stark, due to his brilliant mind and also his technology background. Being a CTO for a big company is like being a real life Iron Man, minus the suit.
The CFO is directly responsible for managing the company’s finances. They are one of the main pillars that support the organization. This job has a lot of responsibility as this position is usually the one that comes under fire a lot because they are the ones who balances the books and makes sure the teams have money flowing in for the development of their projects. You must need to be really good in numbers if you are planning to become a CFO or planning to hire one.
A background in accounting is highly recommended if looking for a person to fill this position. If they also have a background in businesses which has financial backgrounds such as banks, stocks or portfolio management, all the better as this will usually look good on their resume. The Avenger that is a close resemblance to a CFO is Hank Pym, the original Ant Man because of how he managed to build the Pym Industries from the ground up.
Now we are starting to go over to the core of what makes a successful ICO team. These people make the technology or the whole project come alive. They are in charge of developing the startup from just an idea of the founders to what the public can see and hold with their own hands. These people work hard at their jobs, sometimes suffering sleepless nights just to make the deadlines set by the company. They are also in charge of the quality of the product being put out.
To be hired as a developer, one needs to have a very long and distinguished background in programming. Ones with knowledge of multiple systems and languages are the most valuable assets and are the ones you need to look out for. Consider these people as the Hawkeyes of the company. They may not be big boys, or doesn’t have super powers like the officers, but they are the backbone of the whole company. Without them, there is no project, there is no company.
These people are like the poster boys and poster girls of the company. They are responsible with a lot of things that make an ICO successful. They are the ones that provide the visual and the written content to attract investors at the early stages. They are also responsible with rolling out updates while the project is underway. When the time of the product release comes, this is where they shine the best.
They are the people you need to get the word out in all fronts so that the public hears about your project. Advertising, knowing how social media works, being approachable and engaging are few of the traits that the people in the Marketing team share. Treat this as your Natasha Romanovs, who are not afraid to be seen in public and they understand the inner workings of the human mind when it comes to giving them what they want to see or hear.
These are the group of people that although are not directly associated with the organization, contributes success to the current project of the organization. These people are very successful in their own respective fields such as managing a different organization or developing their own technology.
These people lend a hand to the main team and offer advice on where to go in the direction of the company and teach them how to become much more effective in the other fronts of the business. Consider these people as the Nick Fury of the team. They are not part of the group, but they offer a lot of help building the success of the project. Just like how Nick Fury helps The Avengers out while being the head of S.H.I.E.L.D.
These are the people that make up the bulk of the most successful ICOs that have been seen lately. If you are planning on turning your ideas into a blossoming blockchain project, you need to fill it up with people who are really good at their job and start managing them. Cohesion is the key to success, and as long as you find the right person and have them work as a single unit, success will come your way.