CoachDAO: A New Paradigm In Web3
Web3 space is evolving fastest with Blockchain technologies, and a new world-view is emerging towards decentralization, democratization and wealth distribution, the old incubator/accelerator model (mentor engagement) won’t work in Web3verse!
Introducing CoachDAO.
- Do you run a startup?
- Have you been part of an incubator/accelerator?
- Are you a mentor?
If your answer is yes to the above question(s), you would have come across the following norm.
Every incubator/accelerator out there has dozens of good mentors. That’s a norm.
The standard compensation methods for mentors are the opportunity to share their knowledge, host standard sessions for all participants (Startups) and mentors get plenty of PR mentions. 🛑
Fair enough. That might have worked for the incubator/accelerator!
But when there is not enough skin in the game… did the mentor’s standard session for all help each & every startup in the incubator/accelerator? The answer is probably no, as sessions (Masterclasses, office hours, etc) were not-contextual i.e. not 1–1 with each startup to their context.
Not enough accountability….did the incubator/accelerator keep a track of what got generated from a mentoring engagement for one or more startups? The answer is probably no or mostly it is up to the Startup track.
Without accountability or skin in the game: How does that help a startup to have mentors in an incubator/accelerator?
We asked this question from a First Principles Thinking.
We found the simplest way to make it happen.
Like every high-performing sport, athlete hires a professional coach to ensure they are top of their game in all tournaments and sharpen their skills and be prepared for all situations and all possible eventualities; similarly, Coaching is vital. 🏑
Coaches are paid in sports and many corporate engagements.
But Startups can’t pay in their early phases (idea to seed).
Web3 space is evolving fastest with Blockchain technologies, and a new world-view is emerging towards decentralization, democratization and wealth distribution, the old incubator/accelerator model (mentor engagement) won’t work in Web3verse!
We devised a model: Coaches Reward Model
Equity/Token For Coaches is a unique reward model to enable contextual engagement to solve various challenges in a specific Web3 project — a win-win model for the projects/ startup and Web3 coaches. 💜💙💗💚
Coaches have deeper skin to ensure projects head towards success and in return, they have financial upside.
This formed our basis for Coach DAO Philosophy: We coach Startups to succeed and co-create wealth in the process.
👉Find out details on how CoachDAO works in Founderships’s official blog post.
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I run Foundership. We help Web3 startups with Coaching, Capital and Community. We are taking Top Web3 Founders into the Next Orbit.
I publish posts and newsletters sharing things as I learn and coach Web3 Startups.
Thank you for reading.
Santosh
