In this video, we'll explain how chief executive officers can lead the blockchain revolution in their company. Here's a pro tip: The tone starts at the top. If a CEO embraces blockchain and so will the company and its customers. CEOs set the corporate culture through their own behavior whether they intend to or not. Business strategy isn't just about proving your company gets the blockchain, it's about associating your brand with the future. An effective CEOs will find the best forms of communication and use simple terms. This means tallying and retallying your blockchain storage across a variety of communication channels, not just staff meetings, but press interviews, industry conferences, analysts calls, corporate blogs, and lots of client engagements, maybe write a position paper on it. For ideas, take a look at Scott Nelson's white papers. He's the CEO and Founder of Sweetbridge. Now that's a blockchain startup, but still this is an example of leadership coming through thought leadership. Well, blockchain have a profound long-term impact like the Internet on companies, industries, and economies. Well, we think so, but it's too early to tell how big the impact will be and how long it will take. One thing for sure is that just as with the early Internet, the graveyard of corporations will be strewn with the bodies of those who didn't understand that a new paradigm was emerging. Is your CEO going to be like one of the leaders of the early Internet period that transformed a number of companies, or more like the leaders of say Kodak, or Barnes & Noble, or Nortel, or Series. There's a division that's taking place here, and it all comes down to leadership. The key responsibility of a company's senior management team is also balancing the hype and the promise of this technology. Nothing is ever really black and white, and revolutionary change comes with challenges. We often forget, change is difficult, even painful for some people. Without thoughtful messaging, lots of well-intentioned leaders can fall into the wild west mentality. CEOs need to be careful about sending unproductive messages like the rules don't apply to us or it's all about the number of token holders, not revenues, or this kind of crazy stuff. Codes of conduct in a civil societies still apply too, even if your company undergoes structural change. Now, there are three ways that a CEO can lead team and set the proper tone. First is acknowledging market readiness and good financial results. Cash flow, profits still matter. But considered a win in a lab doesn't always translate into market success. Of course, markets and customers matter. Famous management theorists and scientists, Peter Drucker, once said that the purpose of a business is to create a customer and he's right. But it's not just about customers. CEOs are also asking employees to move into unknown territory. They don't know what will happen to their jobs or what skills they may need in this new environment. But that said, your company needs to get on the learning curve. That means watching blockchain pilots closely, taking part in proof-of-concepts, designing your own. A second strategy is effective marketing and communications. We talked about marketing to external audiences, customers, investors, educators, the press, but blockchain leaders also need to communicate to internal audiences. Employees may believe what they read in newspapers, magazine, articles, rather independent sources. Some more so than what communicated internally. There's a lot of how shall we put this inaccurate information out there. Remember, employees are entering unknown territory. They don't understand new initiatives, and they may struggle to support them. So managers need to pay great attention to internal messages, training, and also to incentives because people do what they're compensated to do. They must line for people to get the overall strategy, their own role, and the role of their unit and helping it succeed, and that's critical from the get-go. Finally, we need to avoid setting unrealistic expectations. As the saying goes, there's a fine line between vision and hallucination. Most blockchain initiatives are in the Alpha or Beta stage. It's too early to make really broad assumptions about their effects. Sure talk about the potential, but let's not assume certain things. CEOs need to learn from their own pilots and memberships, and consortia or in organizations like the Blockchain Research Institute. CEOs need to track how the technology is unfolding and how their business will be affected. This future evolves so quickly. Incumbents of the old paradigm don't always see it coming. Leaders of the older often the last to embrace the new. Vested interest fight against change. That's why communication and vigilance are crucial for leaders in the days ahead.
