7 Crucial Tips For Creators To Turn Their Audience Into A Billion-Dollar Community 🚀

From my experience helping dozens of creators at Coinvise, I learned there are 7 good practices creators can put in place to create a Tokenized community and turn their audience into a billion-dollar community.

Here they are in no particular order 👇

1 — Build a strong culture

Culture in a Creator DAO is the most important asset you can hope for. Culture is the reason why high-quality talents will provide support over a sustained period for your DAO. There’s only so much you can motivate someone with financial rewards, but with a strong culture, community members will actively contribute, intrinsically motivated by the values you have and the desire to be assimilated with the project you’re creating. High-quality talents are the ones who invest their time instead of capital, the ones who truly believe in the project and are keen to do whatever it takes to make it grow. Those are the most valuable and rarest contributors.

2 — Design great incentives

Well-designed incentives are essentials to attract quality talents for your DAO. Economic incentives are a great way to onboard new people to your project, but sustaining a community only based on financial incentives in the long term can be complicated. You should try to design bounties and rewards contributors that are here for the vision of the project and its social aspect, not for speculation. By giving ownership and rewarding high-quality talents with well-designed incentives, you’ll make sure to create a sustainable and healthy community that can thrive in the long run. I recommend you reading my essay “How To Design Great Incentives” to learn exactly how to do it.

3 — Build a well-design onboarding process

There is a lot of confusion and plenty of non-relevant information to sift through in DAOs, and it can be scary and demotivating for new potential contributors. To attract top talents, it’s essential to make sure the onboarding process is straightforward. You should think about the user journey and create an onboarding process that makes it easy for anyone to participate.
An example of a great onboarding process could be BanklessDAO. Their Wiki is organized to participate even though you don’t have much time to provide to the DAO. By doing that, they are making sure that no one feels intimidated and therefore are making sure to receive help from the maximum of people.

4 — Provide the tools to succeed

For contributors to keep working for a DAO, they need to have the right tools at their disposal to do great work. Social tokens, the virtual currencies fueling DAOs, have the significant advantage of facilitating the coordination between contributors through a large set of tools. There is a large ecosystem of DAO tools, and to retain high-value community members, it seems essential to dig into them and implement those who make the most sense for your community. If you’re interested in creating a DAO, Coinvise has built a large set of tools to build and manage tokenized communities (Mint, Airdrop, Quest, Vesting etc…)

5 — Set clear goals

In many DAOs today, there’s a weird loop of DAO leaders wanting members to start initiatives, but members not knowing what makes sense to start for the community and then end up in an impasse. Without a robust vision, potential contributors will quickly be discouraged and end up not contributing at all. To succeed, DAOs need a clear vision so community members know the end goal and can work on a smaller scale mission toward this goal.

6 — Create Guilds / Working Groups

To overcome the problem of members not knowing what makes sense to start for the community, it’s also essential to create Guilds with accessible docs of what’s needed within each guild. For a DAO to work, it needs weekly meetings, an easily accessible list of missions, easy access to a doc with the name of the contributors from the guilds (with a person to contact in case of a problem) etc… Most DAOs are still using the Google suite (created for Web2 use-cases), and there is room for improvement in this space.

7 — Give Contributors flexibility / Autonomy

Lastly, a DAO must provide autonomy and flexibility to retain its contributors. Few people enjoy unwarranted scrutiny, and plenty of research supports the positive outcomes that autonomy inspires. DAOs are fluid by nature, and should double down on the ownership and independence it can provides to contributors.

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