How Can You Position Yourself for The Best of Web3
It is a known fact that millions of professionals were laid off when businesses embraced Web2 and took their operations digital. Similarly, many entrepreneurs went bankrupt due to inability to adapt to digitization as fast as their competitors. Hence, this guide is put together to help both individuals and brands prepare themselves for the best of Web3 and all the changes that it will pioneer.
Tips for Brands
While Web3 is not a do-or-die affair, it is critical for growth-minded companies to make adequate preparations for it, not just in thought or paper, but in actions – very fast.
Some subtle questions you can answer to help you determine how your company can prepare for Web3 includes:
- What can you give up about your company to better position it for the future? The likes of Meta gave up their globally recognized name “Facebook” in order to be a front runner in this next phase of the internet (Web3).
- What new infrastructures is your company developing or acquiring to equip it for success in the era of Web3? Microsoft recently acquired Blizzard Activision for $69billion.
- What other trigger are you waiting for to get started? If the world’s top 20 companies and banks are publicly racing to gain a strong foothold in Web3, are you still willing to bet against Web3?
Based on the activities of reputable brands and market trends, you may prepare your company for Web3 in the following ways:
- Make a precise decision and plan for Web3: What do you hope to accomplish with Web3 and how can you get there?
- Restructure your organization: Web3 is largely decentralized, open and deeply integrated with tokenized assets, will your current organizational structure fit in or draw you back?
- Put automation into consideration: AI is an integral part of Web3, meaning most things that require 10 people to do now could be done in the near future by a single code that automates the entire task.
- Develop a stronger IT team: Recruiting a qualified developer is already a hassle for most Web3 companies, thus, they end up incentivizing developers 2 to 3 times more compared to other industries. Building a strong and reliable IT team now will save you lots of headache and disappointment in the near future.
- Recruit the right skills or upgrade existing employees: Developers are not the only talents needed to run a successful company in Web3. You’ll need the joint effort of other departments to ensure success. For example, you’ll need a tech oriented HR expert to recruit, train and manage your talents, you’ll need blockchain or tech oriented marketers/sales experts, you’ll also need a tech/blockchain experienced legal team, you’ll need a tech savvy admin team and so on.
- Adopt a flexible approach when you implement your plan: This is the fastest moving industry you might come across and things move and change very quickly. You’ll do yourself and your team great harm if you get too stuck on doing things a specific way, rather than adapting to the trend.
Tips for Individuals
It is a known fact that millions were laid off when businesses embraced Web2 and took their operations digital. Sadly, the same cycle will repeat itself when companies start embracing Web3. Hence, it is crucial for individuals to be prepared in advance.
Based on trends in the blockchain/Web3 space, below are two steps you may take to equip yourself for success in Web3.
1. Learn: As an individual, there’s no better way to prepare for Web3 than to learn new skills or sharpen your existing skills to fit into professions that will be in high demand. No commitment is too small so long as you’re consistent.
A few examples of professions that are already in high demand with 2-3x more compensations includes:
- Programmers or Engineers (Data scientist, blockchain developer, big data engineer, blockchain architect, machine learning and related)
- UI/UX Designers
- Graphic Designers
- Digital Artists
- Legal consultants
- Technical writers
- Technical recruiters
- Business developers etc.
Most of the skills required for these professions are readily taught for free on Youtube but if you’re looking to acquire certifications to enhance your CV, then Udemy offers the most effective and affordable certified courses, or upgrade to LinkedIn premium to enable you access LinkedIn Learning.
2. Invest: Whilst I’m not a financial advisor, I dare to draw your attention to the vast amount of attractive investment opportunities in Web3. You may not have all the time or money in the world, but, just as you may consider investing in stocks, you could also consider acquiring assets under reputable Web3 brands. For example, a piece of Sandbox land was sold for about $45 in late 2020, now it is worth $1000s and it just got started.
Web3 is much more than a trend, it is here to stay. The faster we acknowledge and understand it, the better we can utilize it’s unlimited power.
I understand that many of you have lost a good amount of money or know someone who has lost their life-savings in crypto, thus, you are very very sceptical about anything related to crypto, but, I’m here to help you understand the foundational principles on how this space and related assets truly work.
I’m not a guru of any kind, but I hope that I can help you and others to make informed decisions regarding the Metaverse, Web3 and related concepts.