15 ways crypto companies can manage costs in the current economy

cointelegraph.com:

Crypto winter has been challenging enough for the industry; it doesn’t help that the broader macroeconomic environment is uncertain as well. With ongoing talk of a potential recession, tightening access to investor capital and rising interest rates, some crypto and blockchain companies are joining their peers in other industries in exploring cost-cutting measures.

While trimming the budget may be a necessary effort, it’s important to do so judiciously. Further, leveraging smart strategies can help companies avoid deep cuts and boost productivity and efficiency. Here, 15 members of Cointelegraph Innovation Circle share tips to help companies in the crypto and blockchain space wisely adjust to survive the current macroeconomic environment.

Given today’s larger macroeconomic environment, it’s more important than ever for crypto leaders to listen to their users. During the previous bull run, too many companies rushed to buy sponsorships or roll out NFT marketplaces when they should have focused on the needs of their core user base. Product, user experience and community engagement will always be good areas to invest in. – Molly Glennon, Ditto

Consider hidden costs, and most of all, build an attribution model. Many developers jump the gun and get rid of product people only to be told by investors that they haven’t reached product-market fit. Know where your strengths are, and be laser-focused; don’t try to be everything all at once. Forget the DAO, the clout and the event sponsorships. Keep your head down and your people close. – Audrey Raby, Audrey Raby

Many crypto companies spend too much on conferences. A lot of them do not yield a good ROI. Inventory all the conferences you plan to attend, and cut the less relevant ones.