This post shares a rundown of 4 strategic priorities for Q3-2021
- Engineering and product focus (Tier 1)
- Doubling down on the most effective growth & distribution tactics (Tier 2)
- Fostering our impact-oriented culture (Tier 2)
- Maintain a long-term sustainable organization (Tier 3)
It is a call to the entire Coop community to focus on the few things that drive massive outcomes for Index Coop stakeholders.
If successful, we will unlock our next stage of growth.
These priorities emerged during a call with full-time core contributors on the topic of Q3 priorities, was shared with Working Group leaders for feedback, and was flagged on today’s Org. Call.
Here are some of the principles underpinning the need for strategic priorities:
Product-led growth: The #1 way for the Coop to grow and succeed is to launch & maintain successful products.
Good strategy: “Good strategy works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favorable outcomes” (Good Strategy Bad Strategy)
Today, the demand for Index Coop products outstrips our ability to create & maintain those products.
This brutal truth was made obvious by our failure to achieve the Q2-2021 goal:
4 new products launched with $200M+ combined TVL.
There are two key challenges to keep front & center
#1 - To unlock our next stage of growth, we need to solve our engineering & product constraints.
#2 - To solve our engineering & product constraints, we need relentless focus on the few things that matter.
This begs the question: What must we focus on to unlock our next stage of growth?
The clear #1 focus must be engineering & product.
- The Index Coop needs to be able to expertly design, launch, and maintain the most desirable structured token products.
- To achieve this vision will require us to focus on the constraints that exist today & to shield our limited engineering/product capacity from activities that don’t further that goal
- Proposals and ideas that involve engineering but are not product related can expect to receive a respectful & firm, “sorry, not now.”
More is needed than just focus on engineering & product though.
For the Index Coop to succeed in Q3-2021 will also require that we zero a few mission-critical activities:
- Double down on the most effective growth & distribution tactics
- Foster our impact-oriented culture
- Maintain a long-term sustainable organization
Here is how this focus looks split into 3 tiers.
Engineering and product focus
Existing product maintenance, i.e.
- Product improvements
- Parameter updates
New product creation (the engineering of products, that is)
Preservation and protection of eng capacity (If an activity requires eng. that is not product-related, “sorry, not now” can be expected)
Engineering talent identification & culture creation
Doubling down on the most effective growth/distribution tactics
- Major DeFi integrations (i.e. Aave)
- Major CEX listing
- Direct sales of Index products to high-demand audiences - i.e. DAOs
- Maximise twitter presence and reach
- Educational content
An impact-oriented culture
- Setting the DAO standard for focus & producing impact/outcomes
- Ownership mentality
- Direct accountability for results
- Clear communication between contributors
- Embracing intellectual honesty (with empathy)
Maintaining a long-term sustainable organization
- Cost control, focused on liquidity spend
- Focused rewards/incentives (raising the bar for contributors in terms of impact and deliverables)
- Data/analytical insight to drive strong decision making
We will have a massive Q3 and beyond, if we focus first and foremost on engineering & product, and double down on effective growth tactics, foster our impact-oriented culture, and maintain a long-term sustainable organization.
I believe we can do this, and that all contributors that are up to it have a role to play.
When we’ve successfully achieved this, we will see the Index Coop community unleashed.
You can expect to see these priorities surfaced time and time again in decision making over the next 3+ months.
What is unclear?
What do you think is needed to unlock our next stage of growth?