And we're back with another Dox Radio banger !! This week, Derek Yoo, Founder of Moonbeam and Moonsong Labs, breaks down:
- Recognize strengths and weaknesses in your team. Organize roles to highlight strengths and minimize weaknesses. Admitting mistakes quickly can save your business from prolonged issues.
- Derek emphasizes the importance of admitting hiring mistakes early to avoid long-term detriment to the business.
- Founders should be realistic about the different skill sets needed at various stages of a company’s growth. Not everyone can transition from a startup to a large organization smoothly.
- Derek’s venture studio, Moonsong Labs, focuses on developing blockchain implementations and infrastructure to provide Web3 devs with a suite of services akin to AWS for Web2 devs.
- Building in Web3 requires a different mindset compared to Web2. Sharing and community engagement are crucial, whereas hoarding control can stifle a project’s growth.
- Having a clear vision and core values is essential for any founding team. These guide the culture and decision-making process, ensuring everyone is aligned.
- When hiring, energy levels and punctuality are key indicators of a good fit. High energy and punctuality reflect commitment and reliability.
- For founders, it’s crucial to foster a culture of accountability and transparency. Admitting mistakes and learning from them builds trust and strengthens the team.
- Balancing work and life is important. Derek enjoys walks, collecting watches, and reading poetry to unwind and take his mind off the intense pace of the Web3 world.
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