Improving BD and preparing for EthDenver
Hey everyone, this month I spent every day working on a BD strategy and preparing us for EthDenver by writing on a presentation and slide deck. It will be an exciting opportunity to reconnect in person and test new ways of communicating our offering which I aim to repeat at other conferences this year.
Operational updates
I have discovered a clear process to identify the needs of our potential audiences, create a high-value density offering, and communicate it. One of the main insights I gained was that most projects we currently work with approach us too late, i.e. when they quickly need to act while often running out of funds.
Our treasury wallet will now be separate from the team wallets so we can better differentiate spendable treasury funds from project revenue. I will break down the current assets in the next newsletter at the end of the month.
To prepare for EthDenver, I have been working on a slide deck for VCs and a presentation. The current presentation is focused on a “network state community” of developers, builders, and VCs, and I might adjust it in case I also get stage time at the official event. Feel free to review and comment on the current files in this Discord channel but please don’t share it publicly yet. It’s a work in progress and could contain mistakes or be misinterpreted.
Next steps
As I improve our business development strategy, I am also preparing a collaborative workshop board to repeat the process together in the future. In this loom recording, I summarise how we can approach clients at a much earlier stage, which should lead to much more delightful collaborations.
It roughly consists of these steps:Identify target audience
Assume their overall desired outcome
Create a “user journey” for the audience
List problems in their words along each step of the user journey
Create solution modules for each problem
Prioritize and combine solution modules into the highest value density
Estimate the value
This week I am meeting with Colin (treasury manager) to draft a new treasury policy. Not only should this help us manage our funds better, but also gives other teams in web3 an example of how to reduce cash burn.
Using the deck and presentation we will directly approach our target audiences at EthDenver and improve our offering based on the new BD strategy outlined above.
Hope you all have a nice start to the week and can’t wait to see some of you in 10 days!