Essential tips for effective blockchain project management

Here at Espeo Blockchain, we live and breathe blockchain every day. Our team is hard at work creating exciting new projects and is constantly gaining new expertise. But have you ever wondered what sets Espeo’s blockchain project management apart from other developers? Building rapport with clients and robust blockchain advisory services are just a few things. I caught up with a few of our friendly project managers to hear their essential tips for successful blockchain project management.

Constant contact with clients is an essential part of our process. Keeping a finger on the pulse at all stages of the process is one of our project managers’ key tasks.

blockchain advisory services

Know your team

Knowing the development team on a personal level builds rapport and trust between developers and clients. This is essential because it’s important to see results and encourages responsibility. An open environment drives developers to come up with novel solutions.

Espeo’s blockchain advisor Dominik Zyskowski’s approach to blockchain project management is to foster effective communication between developers and the client. Usually, it gets to the point that clients learn developers’ names and stories. Clients are not used to such a personal bond to a team. Since so many projects are based abroad, knowing that the team is taking care of the project everything — and that the team is focused — really sets Espeo Blockchain apart.

Dominik is transparent about a lot of things. He would like to see blockchain voting systems improve democracy and increase democratic participation. Nevertheless, he openly admits blockchain’s limitations. His honesty is something clients admire. As an experienced project manager and blockchain advisor, Dominik has worked on several of Espeo’s successful projects.

One that he thought was especially interesting was Gabrotech, in which he provided blockchain advisory services. The Hong Kong startup worked with Espeo to build a blockchain-powered customer loyalty platform. Gabrotech has since made it past their ICO phase. He was instrumental in technical consulting and delivered the product well under budget.

Unlike a year ago at the height of the ICO craze, projects now have to have a solid product and a seamless plan in order to succeed. Dominik remains optimistic that the market is far healthier now since many of the scams and poorly-planned ICOs never get off the ground.

Knowing your development team builds trust and keeps everyone involved engaged throughout the process. Staying engaged and opening the process to transparent critique from everyone involved ensures the end project will be viable, and ultimately profitable.

Work with a company with a personal approach

Blockchain project development is not a speedy process. A lot of research and planning goes into each project. No two projects are the same and each poses unique challenges. Working with an engaged team of experts with your best interests in mind guarantees results. Simply getting to know to know the experts on the team, of course, builds trust. But the team should also apply their knowledge in unique ways. Small tweaks specifically designed for a project often lead to lower costs. According to Dominik:

“We are not trying to repeat the same project over and over, but we explore what’s happening in the area and try to propose the most beneficial solutions. I often talk to clients and they always value our approach. They really see the team, they can talk with them, they see our efforts along the way.”

But don’t just take our word for it. Melissa Christian, E-commerce business manager of the Guardian recently commented:

“Espeo excels at project management. Using a combination of tools and technology, they maintain an open and responsive line of dialogue. The enthusiastic and dedicated team offers full-stack development expertise for frontend and backend.”

Our project managers not only create an environment where the developers and client bond, but also come up with the best solutions to solve specific problems. This personalized approach ends up slashing time and costs from blockchain projects.

blockchain project management

Choose an expert team that will be honest with you

Just as knowing your team and getting a personalized approach ensures success, having a team that will be honest with you will help tremendously in the long run. Honest experts know when to say that blockchain may not be right for a project no matter how enthusiastic a client may be about the technology. Communicating realistic solutions and ensuring a client understands the process is essential to good project management.

Both Dominik and fellow project manager, Natasza Stanicka agree that equality, transparency, and constant communication ensure satisfied clients and developers. Happy developers are more likely to open up and remain transparent. Natasza manages blockchain projects and has extensive experience in standard software development as well. She works hard to keep team morale high.

“Without a team,” Natasza says, “we cannot satisfy customers. So we must pay the same attention to how we act to our team. I have to be like a mother.”

Blockchain projects differ from regular software development in a few ways. First, since blockchain technology is relatively new, some entrepreneurs lack deep technical understanding. Unlike developing an app where the client knows more or less what to expect and how the app should work, blockchain projects are rarely as straightforward. Sometimes clients underestimate the cost and complexity that goes into blockchain project management. Having an honest guide throughout the process builds trust and keeps clients in the loop.

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You don’t have to know everything about blockchain

Those unfamiliar with development projects may benefit from blockchain advisory services. But with so many so-called experts and conflicting information in the space, it can get confusing. Choosing a team with successful projects shows results and demonstrates expertise.

“Even a non-tech person can provide precise information about how [a product] should work and what features it should have,” says Dominik. “It’s more complicated when you do blockchain projects. The client needs to know… how blockchain will be beneficial in a project. For instance, if you’re building some kind of token system, he or she also needs to take into account the economics — the supply side, the demand side and you need to be prepared to answer a lot of detailed questions from developers.”

Dominik and Natasza guide clients as part of our blockchain advisory services, breaking down the mechanism and how blockchain can improve a business. Sometimes they even advise that blockchain is not the best solution and propose optimal solutions.

Choose legitimate (and honest) blockchain advisory services

Responsible developers and project managers care about the products they create. Before a development project begins, there should be an extensive discussion about how the finished product will work. A blockchain advisor may help solidify big blockchain ideas or encourage different solutions.

Dominik openly admits that blockchain is not always reasonable, or justified. Due to the hype surrounding blockchain, many entrepreneurs try to use blockchain where existing technology would do a better job.

“Our role is to sometimes tell a client that it’s not the best idea to use blockchain. It may incur costs, [and slow] down the process for you… If you run a normal crowdsourcing campaign, you won’t need to worry about who’s making payments, for example.”

Entrepreneurs hoping to run a simple ICO for the sole purpose of raising capital face layers of regulations and legal requirements now. Unpacking all the different layers of complexity will help you start your blockchain project right. Speaking to someone who knows the intricacies of blockchain development and its business use can be invaluable before a project starts.

Hire a team with proven blockchain project management success

A proven portfolio of successful blockchain projects demonstrates expertise in the field. Due diligence in researching past accomplishments from a team is also important when you’re choosing developers. Search for what previous clients are saying and company portfolios. Teams of experts employ industry best practices to save clients money and help launch unique products.

“It really shows that [our] products were unique,” says Dominik proudly. “We do a lot of research before to get familiar with different small hacks that allow you not to overpay. Because every operation on the Ethereum network consumes resources. There are ways to optimize that cost for a client. If some rookie company would develop this kind of system, they wouldn’t consider these types of best practices.”

Attention to fine details to optimize the blockchain projects sets Espeo Blockchain apart from other blockchain advisory services. A full consulting phase before development equips our clients with a firm grasp on tokenomics, technical architecture, and different project protocols. Using our own knowledge, we’re able to work with clients for the best blockchain development solution.

Blockchain project development offers rewards for entrepreneurs who do it right. follow these essential tips and your big blockchain idea will become a reality. A team of blockchain consulting experts who offer personally tailored solutions will get your project off to a strong start. Honesty and transparency at every step of the development process keep everyone engaged and ensures a robust finished product. Getting an expert opinion in the form of blockchain advisory services also equips entrepreneurs with the trusted technical knowledge to create a seamless blockchain product. A great team yields great results.