Time stamped show notes:
[0:59] Richard's journey and struggles
[1:55] Started at 15–early days of advertising online, before the bubble burst
[4:53] Formula for success: team, right capitalization, idea
[6:07] Make sure team members and partners are in a good place in their lives.
[7:23] Stability is a state of mind.
[10:08] Make sure everyone is aligned toward the same goals and vision.
[10:27] Have a clear vision. | Can you articulate it in a sentence? Can you explain it to your grandma?
[10:54] Know what's in it for you and what's in it for the other people. Set up clear incentive structures.
[11:16] Offer coaching and guidance along the way.
[13:01] Learn by foundation first. If people are missing all their goals and don't have an evolution, part ways.
[14:59] Ways to get closer to understanding if someone is a good fit or not
[15:00] Trust your intuition. Give people test projects. Learn to read people quickly.
[15:57] Give people a chance to course correct.
[17:02] What is he working on? [in cryptocurrency]
[18:45] Metric he will use to measure his success
[19:47] Where he thinks the market is right now
[22:12] Cypto is a market with “hot money.”
[23:14] You can't show people what this [crypto] is going to be.
[23:33] Cryptocurrency gold rush – based on emotions, not on economics
[31:14] Things he wish people would read | What he recommends to people in the Crypto market
Three key points:
- Formula for success: team, right capitalization, idea
- Make sure everyone is aligned toward the same goals and vision.
- Finding a good fit: Trust your intuition. Give people test projects. Learn to read people quickly.
The Master Switch – book
Launching an Investment Fund to invest, build and operate in the market. Build infrastructure.
How to contact Richard if you want to get involved: richie@tractionandscale dot com
Looking for capital partners, an investment professional (background in private equity and crypto), an investment relations person, a Chief Operating Office and project leads. He's always looking for talent.