After looking at 100’s of whitepapers and their company websites, it has become quite evident that there is a major problem within the blockchain industry: founders are not able to clearly communicate their vision.
What does come out is a fragmented story that can’t be understood by potential investors, clients, and partners. Many blockchain startups are clearly coming up with innovative solutions to problems that exist within the block new chain industry. These solutions may eventually turn into real-world use cases that may change the world and peoples lives within it.
Clearly the vision that company founders are pursuing today involve some life-changing ideals, but when it comes to the founders providing a gateway for seekers of information there is a disconnect. Major gaps exist:
- The company website lacks a clear and simple message on why the solution is needed, who needs it, what is the value proposition and how the company intends to offer their solution.
- The company marketing channels present fragmented and incomplete story. Reddit community will give you one side of the story, Bitcointalk.org will give you another, Forums, Slack, Telegram, Discord, YouTube, and Twitter will give you another story.
This is why BenchMrkPro is helping blockchain startups develop a clear message which describes to investors, users and potential customers; What the solution is, Who specifically is for, How the company will deliver it and Where they should market their solution.
The nature of blockchain technology and where we currently are in the infrastructure building phase is a legitimate reason as to why most of these startups are technology-focused solutions. That being said this is not a reason to fail. These startups are all considered businesses by one standard or another; they raise millions of dollars and have a responsibility to their stakeholders. Technology focused or not they must have a strong business team to execute their plan.
One key point BenchMrkPro observed is that unknowingly most of these startups are becoming competitors to each other and their technology solutions are overlapping each other’s potential target markets. Eventually, they will target the same users, same clients, same partners, business & consumer.
In our analysis, one key question remains unanswered. What are the key differentiators between these blockchain solutions? These technology-focused companies are confusing their audiences. Reading the company’s whitepapers, it’s extremely difficult to understand what the company key value proposition is and how it differs from the many blockchain solutions that are being planned or built.
As we speak to many blockchain startup CEO’s, we are gaining insights into the gaps that separate the CEO’s vision and their business direction. Most of the CEO’s we speak to, are accepting the fact that they have a serious issue when it comes to delivering their company messages and the impact this has on their future revenue and business. None of them want to fail. There is a solution and it starts with CEO’s commitment to solve it the problem. They recognize that they do need a go-to-market plan to help them monetize their products. They also recognize that they do need a business focused and skilled team to execute on this plan.