Running a Decentralized Nomad Startup

Communication is key for any business, but it is even more important for a decentralized business. With people around the world in different time zones and localities, there needs to be an easy way to make sure the team is on the same page. Two team members shouldn’t be working separately on the same project, but all the projects need to have a member assigned to them. This requires good communication. A number of applications can help out with this. Looking at Blockonomics, Slack is a huge savior. It has allowed all of us to keep in quick contact, and to organize work projects easily.

Our lively Slack allows for quick and easy communication

Additionally, just because the company is remote, face to face communication shouldn’t be discounted. Holding online conference class is important, it allows the team to better express what they are working on, and allows the boss to provide better feed back. It also helps increase the camaraderie among the team if they can place a face and voice to the typed messages.

By fostering good communication between workers, projects are finished in an efficient manner, and no one complains about someone else doing their job. Of course, the internet and new apps allow everyone to stay in touch, whether in an office in India, your home in the US, or an airplane 35000 feet over Greenland. Any work that is produced can be easily shared through applications like Dropbox and Google Drive. This offers an easy means to show what work is being done, and collect feedback on a project.

However, for entrepreneurs looking to create a remote start-up, one key thing is to avoid micromanagement, as mentioned in this article. With a decentralized workforce, it can be hard for a boss to not be able to see what is being worked on all the time. Its important though to trust your employees, they will be working different hours and at their own pace, so as long as they meet the deadline, let them do their work. If there is too much micromanagement, it can decrease efficiency in the employees, in addition to slowing down response times. If the boss is in the US, and the employee in Europe, the employee would have to wait for the boss who might still be sleeping.

Paying your workers can be an issue. Obviously, in a remote business you can’t send a check home with the employee on payday. Doing wire transfers include heavy fees that can be harmful to a small business. Blockonomics has gotten around this by using cryptocurrency. For example, I get paid using the Blockonomics invoice tool. I just fill out the the amount of money I’m to be paid, and my boss sends it out. The only fees are the standard Bitcoin transaction costs.

Workers around the world!

There are of course some negatives for an entirely remote workplace. When using direct in person communication, feedback can be given even more efficiently. Its much easier to be looking at the same screen while discussing a project. There is also something fun about going out with the boss and coworkers for a post-work day beer. Hard to achieve when in a decentralized business, although some of us at Blockonomics managed to!

There’s something enjoyable about that post-work beer!
Source: Medium:Remote Working
Running a Decentralized Nomad Startup

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