Making Bank: DAOlationships and CRM with Senad and NFThinker - Making Bank: A Black Flag DAO Podcast (formerly Bankless DAO) Recap

Podcast: Making Bank: A Black Flag DAO Podcast (formerly Bankless DAO)

Published: 2022-10-10

Duration: 40 min

Summary

The episode explores the intricacies of building and managing relationships between DAOs, highlighting the challenges and opportunities in business development within Web3. Senad and NFThinker discuss the role of CRMs and strategic partnerships to achieve mission alignment and sustainable growth.

What Happened

Senad and NFThinker, key members of the DAO Relationships team at Bankless DAO, delve into the nuances of DAO-to-DAO relationships and the importance of CRM systems. They explain that the approach involves welcoming external organizations to weekly meetings to foster partnerships and maintain a CRM for managing these relationships. A key takeaway is that many organizations come from traditional business backgrounds, making it challenging to adapt to the decentralized nature of DAOs.

NFThinker emphasizes the importance of mission alignment in partnerships, noting that Bankless DAO seeks to collaborate with organizations that share their vision of onboarding the next billion people into crypto. This alignment ensures that both parties benefit mutually, avoiding partnerships that don't serve their goals.

The episode also highlights the importance of preparation for successful partnerships. Senad notes that when organizations come prepared with proposals or clear expectations, partnerships are more fruitful. This approach contrasts with scenarios where potential partners lack clear plans, hindering progress.

Senad and NFThinker discuss the role of CRMs in streamlining partnership processes. A CRM helps track interactions and ensures that communication is clear, allowing for better collaboration and preventing overlapping efforts within the organization. The CRM also aids in managing grants applications and prioritizing mission alignment.

The team at Bankless DAO is working towards migrating from Notion to a Web3 solution for better managing their relationships. This transition aims to integrate Web3 technology more seamlessly into their operations and enhance their ability to track partnership development and success metrics.

They acknowledge the challenges of working in a decentralized environment, where projects can take longer to develop due to the lack of a top-down management structure. Despite these challenges, the decentralized nature allows for creativity and innovation, as groups within Bankless DAO form in response to specific needs.

Finally, the conversation touches upon the future of Web3 tools, comparing the current state to the early days of the internet. Senad and NFThinker express optimism about the potential of Web3 to transform how DAOs operate, emphasizing the need for continuous learning and adaptability in this evolving space.

Key Insights