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Disclaimer: The Industry Talk section features information from crypto industry players and is not part of the editorial content of Cryptonews.com.

picture by Dylan Gilles on Unsplash

Our company has a number of phrases that paint a distinct picture of a sole proprietor. “Jack of all trades, master of none. “You need a village. “No man is an island.” It’s not necessarily a pretty picture.

The fact is that even a small business needs many different skills to run well. This is further illustrated by the fact that you can obtain full degrees for these different skills: marketing, finance, accounting, project management, etc. And those skills only relate to administrative overhead. If you are actually building something, especially a digital platform, the skills needed are even more important. Front-end and back-end developers, database specialists, cybersecurity, cloud architecture, UI/UX engineer, web designer, application designer, graphic designer, etc. If your platform is blockchain-based, add even more developers, as well as a tokenomics expert.

Another interesting fact is that no one who started a platform took the time to sufficiently master each of these skills before starting their activity. Many have decided that they will learn as they go. This is, in part, why so many businesses fail. Others built teams based on their networks, getting team members capable (but probably not expert) in the various skill sets needed. Networking is fine as long as you have already established relationships and trust. However, this also limits the skill level you have to choose.

So what are sole proprietors, and even small teams, supposed to do to give their big idea the best chance of success? Fortunately, there are a few options. Let’s talk about a few you might already be familiar with, then dive into an emerging architecture called “concierge” services. We’ll look at what they do, how they’re similar (but distinct) to a few other business models, and we’ll look at a provider called alliance block which serves as a complete example.

The Blockchain Platform Journey

For many blockchain platforms, the journey to full launch follows a similar path. The founder or founders start with an idea, usually a problem or an opportunity for something new (and presumably wanted by the community). Founders are often technically inclined, with experience as developers, incumbents in TradFi/TradTech companies, or are simply serial entrepreneurs. The founding team is almost always driven more by relationships than skills, with a team of trusted people each participating. Sometimes they are well qualified, sometimes less. If the team can get through the next phase of their growth — usually developing and refining the idea, hoping to build a proof-of-concept prototype — then they begin the journey for funding. For teams that are initially self-funded, they may be able to grow enough to create an ICO. With the token market being quite saturated, the team should have built up a strong following before then in order to make sales and keep the price where they want it.

For other teams, the path to ICO is too long and funding is required sooner. For these teams, options include self-funding (and asking people they know to invest); for lucky teams, they may be able to catch the eye of a startup incubator/accelerator, which provides help in the form of experts, as well as an introduction to venture capitalists (venture capital) . This is where a very big fundraiser can be made, although the price (in the form of a percentage of the platform) can be high. Still, if the funds are raised and the platform is successful, owning part of a thriving platform is far better than owning 100% of a dead platform.

Emerging trend: concierge service

It’s quite a trip, with a lot of things that have to go well. You have to know the right people, sell your idea to the right people, hope they don’t already have similar investments, hope the market is where it needs to be, and hope the technical development comes to fruition. Entrepreneurs want to be masters of their own destiny above all else, but frankly there is a lot of luck in this process. This fact is not lost on entrepreneurs and founding teams, especially in the crypto space. Based on this pain point, a new type of business model emerges. It’s called a “concierge” service because it can get you anything you need. The services aren’t free, of course, but the beauty is that you can choose the services you need. Have a strong development team, but lack the smart contract experience you need? They can help with that. Need to attach your rig to a bridge? Yes, they can. Do you need to raise funds? They can even help with that. In a sense, this business model isn’t just like a concierge, it’s an “X-as-a-service” a la carte menu. Use your team’s strengths and ask the concierge what you’re missing.

In a way, this type of model is not new. Blockchain-as-a-service and its many niches have been around for several years. What makes concierge services unique is that they house all the services you might want to use and help coordinate their interaction to ensure the process is efficient. Kind of like a janitor.

Take AllianceBlock, one of the largest dedicated blockchain concierge service platforms. They offer their own options for funding, DeFi development, smart contract creation, bridging, data protection, and even DEX services. While other players offer some of these services, AllianceBlock might be the only platform to offer it all. In particular, their Donors The service is particularly unique because it takes the funding process away from VCs and instead opens up funding to the whole community. Think of it like a Kickstarter for blockchain, except the janitor also handles the other business services a platform needs. For Fundrs, platforms can apply for funding by showing their plans and offering options to investors. Members who participate in the platform can review these investment opportunities and participate if they wish. To ensure that selected projects progress as promised, the staged funding process ensures that there is a strong accountability aspect to the project, protecting investors and motivating the project team. It also contributes to community awareness, as the many investors become strong supporters of the project, encouraging others to invest in order for the project to succeed and their return to be profitable.

Looking forward

Entrepreneurship will always be at the heart of our company. It’s what drives innovation and it’s a great opportunity for those who have big ideas, lots of energy and are ready to invest. With concierge services, it’s promising to see how development teams are gaining more and more ways to help strengthen their platform, shore up weaknesses, build a community of investors, and focus on their main innovation above all.





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