The Power of a Purpose First Team in Web3
Five Building Blocks
Mike Meledrez, Founder and CEO, Red Circle
Paul Hsu, Founder and CEO, Decasonic
Web3 is a disruptive transformation that aims to better align the internet with its community. To build inclusive growth is what many purpose-first builders aspire in our space. #WAGMI is a popular rallying cry in web3 symbolizing this collective good: We’re All Going to Make It. In an industry that may see breakthrough insights alongside misinformation, many web3 leaders believe in and execute with purpose.
Finding a team that shares your purpose can take extra time, but it is essential to the innovative success of your company.
Teams that lack a sense of purpose are often bogged down by bureaucracy and infighting. It leads to mercenary approaches that may misalign the intended Web3 benefits from the overall public benefits. It leads to short-termism.
Teams that have a sense of purpose are more likely to be innovative and come up with creative solutions to problems. So, to build a high-performing team, start by clarifying its purpose.
It would help if you had people who believe in your vision and are passionate about making it a reality. Your values need to align with theirs and theirs with yours. It's not enough to say you share the same goals. You need to have the same ideals and be willing to work hard to achieve them.
At Decasonic, we are clear and intentional about our values and our dedicated purpose towards #innovationforbetter. We have aspirations to build a better tomorrow, faster. We are public about our intentions, with our values published here (https://www.decasonic.com/ourvalues ) for our entire ecosystem to engage and collaborate.
I met Mike Melendrez in 2018 and immediately connected with his purpose. He’s Founder and CEO of Red Circle, a talent recruiting and development firm focused on building teams with purpose. He’s deeply connected with other purpose-first leaders and their values-aligned teams.
When it comes to developing a team, it's not about hiring or recruiting. It's about connecting people. Find individuals who believe in your vision and take your company where you want it to go. This approach cultivates the innovative thinking needed to help you realize your founding vision.
Top 5 Building Blocks for Purpose First Teams in Web3
A company with values cares about more than just the bottom line. They care about their entire ecosystem: employees, investors, customers, and community. And they firmly believe that these commitments are essential to success.
1. Start with the Founding Story
Why do you do what you do? What is your just cause? This is what will connect you to others and help you identify those values that are most important to you. If you can articulate why you do what you do, it's much easier to determine if someone shares your values. From there, it's simply a matter of connecting with people who have the same or similar values.
2.Be Intentional about Aligned Values
What do you believe in as a company? A purpose-driven team is a group of individuals united by a common goal. It could be something as simple as wanting to make the world a better place or solving a specific problem.
Once you've identified your company values, it's essential to be intentional about who you hire. Make sure that everyone on your team shares the same values and is committed to the same goal. Culture eats strategy for breakfast- culture is the set of behaviors that define how things are done within an organization.
3. Connect with People beyond the Skill Sets
Yes, you need someone who is a gifted coder or elegant product person, but that does not necessarily mean that they are the foundational piece you need as you build. It's about finding individuals who believe in your vision and take your company where you want it to go. This approach cultivates the innovative thinking needed to help you realize your founding vision.
4. Diverse Teams Bring New Ideas to Solve Problems
When you are only working with people who think like you, it's easy to get stuck in an echo chamber of the exact solutions. That's why having a team with various perspectives and backgrounds is important.
5. Keep the Bar High
It's not just about filling a seat. Keeping culture and purpose top of mind as you continue to build and grow your team can be challenging, but it's so important. By being intentional about these things from the beginning, you set yourself up for success in the long run.
So, how do you find those people? It can be difficult, but it is essential to your company's success. Finding a team that shares your purpose and believes in your vision would be best. Purpose-driven teams are important for any business. By being intentional about the values you choose to align your team around, and by hiring people with diverse skill sets, you can create a team that is not only productive but also innovative.