You mention that you "use a professional accounting firm to handle this aspect".What has your team done to ensure a proactive approach to managing the financial aspects of your business?
As far as the cash flow / accounting aspect of a business, we plan to outsource the actual accounting around (eg. cash inflows and cash outflows using based on the accrual / GAAP accounting method). We plan on using the same accounting firm that we have used (and currently use) for other e-commerce / online ventures. This includes getting a weekly and monthly cash flow reports that show exactly where the business stands. Keeping constant tabs on the financials is essential to operating any business successfully.You mention that you "use a professional accounting firm to handle this aspect". Have you hired this company already?
If by this question you mean ensuring that we have the adequate cash flow to operate the servers:If not; what kind of financial planning have you executed at this stage?
The structure that we have setup for this company to have three members who all bring unique, yet overlapping skillsets to the table. Jason's role is to drive the organizational / business / financial aspects of the business, Mike's role is to discover opportunities and create ideas for furthering the Factom protocol, implementing it into our personal Factom projects, and providing insight and recommendations from a senior developer's standpoint. Finally, Ali's role is to be the primary system administrator, who will oversee a small group of other directly-employed system administrators and provide strategic direction (eg. find ways to improve the structure, operability, and efficiency of the servers).you mention that "at least one member of our team will be available 24/7"... Does that include the "group of sysadmins" you say you will hire, or would that be one of you three? What would the "group of sysadmins" actually bring to the table? How does the "external server monitoring company" fit into this setup?
Will this company administer the nodes? How will you make sure these sysadmins know what to do?Finally, in additional to internal personnel, we will hire an external
server monitoring company to have redundancy in responding to
alerts and downtime
Let's say you get an Authority Node. How it performs will be easy to monitor. However, as part of your campaign you also discuss additional development work which is important despite your single node Efficiency being at 50%. The Standing Parties will likely want to see what progress you're making since it was part of your campaign. My questions are:
We believe it's important to consider the type of content that is being conveyed. Twitter and other short-forms are great for information that is time-sensitive, short, and don't require much direct engagement, but rather cumbersome for something like discussing campaign / target / goal progress. Also, voting / popularity-based communications such as Reddit could be useful, but we think that they are more subject to manipulation in the form of malicious voting, and clique forming. In our opinion, it's highly subject to fostering more "negative" interactions through the nature of the platform (not good for this use case).1. How would you communicate with the Standing Parties. Examples would be blog, twitter, Discord, Reddit, etc.
In our specific situation, first, we would share a timeline of goals. Goals would be created based on segments of the overall project, and set realistic benchmarks for meeting them. Based on those goals, we would provide bi-weekly updates on the tactical elements that we are completing to work toward each of those goals. We believe that when you are talking about a (very) long project of this nature, constant communication is not necessary. While providing updates is essential, too much communication can be distracting and a hindrance to the tasks at hand.2. What would you communicate and how often?
We believe the answer to this question is very specific to each group's campaign, but also what stage they are at in their project. That being said, in our case, we have a two stage campaign: building the infrastructure and marketing the site.3. What metrics should be used to gauge your development progress and success?
In an ideal situation, nodes will only be administered by the internal team. But human factors like getting sick, urgent situations, family issues, etc. cannot guarantee 24/7/365 availability. The idea to have this company is to act as as an emergency backup, in the worst case, that all personnel of the internal team are not available.Will this company administer the nodes?
As far as metric / issue tracking for the external monitoring group, the most basic and important tasks would be:How will you make sure these sysadmins know what to do?