"Cryptocurrency Creators: Shift Focus from Sales Pitches to Active Listening"
In the dynamic world of cryptocurrency, listening is more than just a passive activity - it's a strategic tool that sets successful founders apart from the rest. According to Shiraz Jagati, author of the article "Listening beats pitching in crypto", founders who engage with others, listen attentively, and are open to learning are viewed as credible, curious, and respected.
Listening is a means of gathering real-time data from people, a resource more valuable than any pitch. It offers insights that can be overlooked, such as feedback from team members or insights from the community. In the crypto space, decentralisation means that the community plays a crucial role, and founders should follow their lead.
A strong feedback loop is the backbone of any successful crypto startup. It begins with data collection, analysis, planning, action, and reflection. Engaging with the developer community is essential, with Github activity and bug bounty programs being potential avenues. Social media channels, marketing plans, and community engagement should also be prioritised in the early stages.
Contests and AMA sessions can help founders connect with their audience, shining more light on their projects. These interactions provide opportunities to learn, adapt, and pivot when it matters most. Timing is everything in the crypto space, and listening allows founders to be ready when market conditions play in their favour.
Users and community members who frequently engage on platforms like Discord servers, Telegram channels, or other forums are a goldmine for feedback. A feedback loop can be systematically built by observing on-chain and off-chain community activity.
Listening is not just a means of gathering information, but also a gateway to connecting and interacting with others, building real relationships, and founding trust in the crypto industry. Engaging with the community through airdrops or staking smart contracts can further reinforce this trust.
Crypto founders should pay close attention to feedback that reveals whether they're solving a real problem and creating real value. Reflection on results, comparison of before-and-after metrics, and refinement are crucial for continuous improvement. Being observant and responsive to feedback is essential when updating your roadmap and development priorities.
In a recent pitching session at the KEY Difference office, over 1,000 founders interacted with Karnika E. Yashwant, who emphasised the importance of listening and adapting. She noted that the best founders don't just pitch, they listen, learn, and pivot when it matters most.
In conclusion, in the competitive crypto startup space, great ideas are everywhere, but an idea alone is not enough. Founders who listen, learn, and adapt based on feedback are the ones who will stand out and succeed.
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