Being a successful founder in the crypto space requires a certain set of skills and traits. It’s a market that attracts con-men, bullshiters, and the rare Do Kwon types who’s arrogance is the only stable and reliable thing in his business. Low hanging fruit I know... But the good news is; if you possess the few qualities of a killer founder, you’ll be able stood out in this market, and able to gain the trust of your customers. And that’s already halfway to success...
For one, successful crypto founders tend to be extremely competitive. It’s the Wild West out there, so successful crypto founders tend to be extremely competitive. They have an unkillable work ethic, they are are mission-driven, always trying to improve their products to stay ahead of the competition. If you’re in it for the easy money, sooner or later the market will turn on you.
Successful founders are also not whiners by nature. They understand the game they play and realise that everyone looks smart during a bull market, but only the winners keep developing, pushing, and hustling during a bear. As the saying goes: “You make most of your money in a bear market; you just don't realize it at the time.” Killer founders are not brittle spirits, and passing market conditions don’t scare them, since they are absolutely confident about their vision.
With that said, they also understand that they can only be successful if they are hyper flexible and agile. Especially in a market like the crypto space, founders need to be able to adapt to quickly shifting narratives and market conditions. But instead of complaining, and casting blame, they understand that this game is also about ‘extreme ownership’.
The way Navy SEAL Jocko Willink puts it, "it’s the practice of owning everything in your world, to an extreme degree". It means you are responsible for not just those tasks which you directly control, but for all those that affect whether or not your mission is successful. Once founders understand this concept, they become solution driven, and killers at their job. While others are doing snarky tweets, they are knocking on real hard work.
Lastly, successful founders need to find the quantifiable edge they posses, and build upon it. Whether it's a deep understanding of the technology, a large network of contacts, or a track record of success in other ventures, they need to find something that gives them an advantage over the competitors and leverage it.
Basically, if a founder in the crypto world has these traits covered, the world can be their oyster.