Platform Development
Company: Formación en Criptomonedas
Date: Sept 2017 – Jan 2019
Location: Bizkaia, Spain
Metodology: Scrum
Role: Project Manager
Team Size: 22
ROLE
Key
Responsibilities
Strategic Vision: Provide visionary leadership, aligning project goals with the mission of offering diverse cryptocurrency investment education.
Curriculum Oversight: Ensure the development of a high-quality curriculum for a comprehensive understanding of the cryptocurrency market.
Team Collaboration: Facilitate cross-functional collaboration to achieve holistic development of the educational platform.
Marketing Direction: Direct the execution of targeted marketing strategies, highlighting the academy’s unique offerings.
Leadership Alignment: Collaborate closely with key leadership, especially the CEO, to align project objectives with long-term success and sustainability.
ABOUT
The Project
FeC is a crypto education platform offering diverse investment opportunities for students. Focused on high-quality courses, it provides practical insights into the cryptocurrency market.
Scope: The project revolves around the creation and development of an educational academy specialized in the realm of cryptocurrencies. Its primary aim is to deliver high-quality courses and training programs, ensuring students gain a comprehensive and practical understanding of the cryptocurrency market and its dynamics.
Key Achivemenets
01- Early – Stage Training
FeC successfully provided training on Bitcoin and the cryptocurrency market to over 30,000 individuals through free in-person events held in major cities across Spain.
02- International Community
A robust international community was established, with students hailing from Spain, Mexico, Colombia, Peru, and other countries, underscoring the global reach and relevance of its educational efforts.
03- Wide Participation
The academy managed to attract 1000 dedicated students actively engaging in the offered courses, reflecting the trust students placed in the quality of the provided training.
04- Profitable Investments
FeC demonstrated successful investment outcomes. Students who followed the academy’s guidance invested in early stages of BTC, witnessing substantial portfolio growth and achieving returns of up to ten times their initial investment.
05- Students Turned Instructors
Thanks to the training and guidance provided by FeC, several students acquired solid knowledge in cryptocurrency trading and became experts in the field. These students now play an active role as instructors, sharing their expertise and experiences with others interested in this sector.
Resources Utilized
💰 Initial Capital: At the project’s onset, we secured an initial investment from the founding partners to cover initial expenses. This funding was allocated for crucial aspects such as developing the online platform, hiring key personnel, and covering other costs associated with launching the cryptocurrency training academy.
🖥️ Online Learning Platform: We operated an online training platform where our courses, webinars, and educational materials were hosted. This platform enabled our students to access content from anywhere at any time, providing us with a global reach and ensuring flexibility for learners.
👨🏫 Instructor and Expert Team: We had a team of highly skilled professionals in the fields of cryptocurrencies and investment. These experts developed and recorded educational content for our courses, conducted webinars, and provided tutoring to deliver a comprehensive and personalized learning experience.
🎥 Recording and Editing Team: To maintain a high standard in our training materials, we had dedicated teams for video and audio recording and editing. This allowed us to create engaging and professional content that captured our students’ attention.
🔒 Technological Infrastructure: Our technological infrastructure encompassed servers and security systems to ensure the efficient and secure operation of our online platform, safeguarding the information and data of our students.
🏢 Workspace: We maintained a physical workspace that served as a centralized location for the team. This space facilitated meetings, planning sessions, and coordination of activities, promoting effective collaboration among team members.
Risk Assessment
01- Market Regulations
Identified Risk
One of the major risks we faced was the ever-changing regulatory framework for cryptocurrencies. The novel and evolving nature of this market brings uncertainty regarding governmental regulations and restrictions that could impact our operations. Additionally, changes in the public perception of cryptocurrencies could influence the demand for our courses and services.
Approach
To mitigate this risk, we maintained a dedicated legal and compliance team to monitor and analyze regulatory changes in the cryptocurrency space. Furthermore, we established partnerships with legal experts and advisors to ensure we stayed updated on new regulations and government policies. Our strategy was to quickly adapt our courses and educational materials to reflect any relevant regulatory changes and provide accurate and up-to-date information to our students.
Impact
Thanks to our proactive approach, we could maintain the trust of our students and offer them updated and reliable cryptocurrency education. By staying informed about regulatory changes, we minimized any disruption to our operations and continued to be a leading reference in the Spanish-speaking market for cryptocurrency education.
02- Cybersecurity
Risk Identified
Given that we operate in the digital realm and handle confidential information from our clients, safeguarding our systems and data was a constant priority. We faced the threat of cyberattacks, attempts to steal cryptocurrencies, and targeted phishing directed at our students. We implemented rigorous security and encryption measures, along with training for the team and students in safe browsing practices and protecting their accounts. Maintaining integrity and trust in our online environment was essential for our success.
Approach
We implemented a series of cybersecurity measures to protect our students’ information and our systems. We utilized advanced security software and tools to detect and prevent potential attacks. Additionally, we conducted regular training for our team and students on how to maintain safe online navigation and protect their accounts and personal data.
Impact
Through our robust security measures, we could protect the integrity of our platform and the confidential information of our students. Trust in our cybersecurity contributed to attracting and retaining more students, driving the growth of our international community, and expanding our user base
03- Volatility
Identified Risk
Given that our platform focused on educating about cryptocurrencies and their investment, market volatility was a significant risk. Cryptocurrency prices could fluctuate dramatically in short periods, potentially impacting the confidence and investment decisions of our students.
Approach
We directed our classes and courses toward teaching our students how to manage market volatility in the cryptocurrency market through risk management strategies and portfolio diversification. Our trained teachers and experts provided guidance on making informed decisions and avoiding impulsive choices based solely on market volatility.
Impact
By providing robust training in risk management and investment strategies, our students were better equipped to handle market volatility. This enabled them to make more informed decisions and avoid significant losses during periods of high volatility. As a result, many of our students achieved substantial returns on their investments, strengthening our academy’s reputation and increasing confidence in our courses and services.
Scrum
Using an Agile methodology proved to be well-suited for the dynamic needs and characteristics of the market, allowing the team to be agile and adaptable in their operations. Scrum was implemented to organize and manage the work of the web development, design, video editing, and other teams. Through short and focused development sprints, rapid iteration and delivery of new features and updates to the academy’s platform were achieved.
📝 Project Planning
A Product Backlog was generated, encompassing all the functionalities, features, and essential tasks for the creation of the academic platform. These tasks were organized into different User Stories.
The duration and complexity of each User Story were estimated using the story points technique. Subsequently, a prioritization of User Stories was conducted based on their value to the business and customer satisfaction.
🏃♂️ Sprint Planning Meetings
At the start of each sprint (typically 2 to 4 weeks), the development team gathered to select the User Stories to be addressed during that period. We set clear objectives for the sprint and defined what would be considered «done» for implementation at its conclusion.
📅 Daily Stand-up Meetings
We conducted daily stand-up meetings to review the team’s progress and discuss any impediments or blockers affecting the work’s advancement. Each team member shared their achievements from the previous day, outlined their plans for the current day, and indicated if they needed assistance in overcoming any obstacles.
🧪 Development and Testing
Throughout the sprint, developers worked on the selected User Stories, following the agreed-upon specifications and requirements. At the end of each User Story, quality tests were conducted to ensure that the work met acceptance criteria and was ready for delivery.
🔍 Sprint Review
At the end of each sprint, a review meeting was held to present the completed and tested functionalities to all stakeholders. We received feedback on the work done and adjusted priorities and the plan for future sprints based on this feedback.
👓 Sprint Retrospective
Also, at the end of each sprint, we conducted a retrospective meeting to analyze what worked well and what could be improved in the development process and team collaboration. We identified improvement actions and implemented them in the following sprints to optimize our performance.
📦 Incremental Delivery
Throughout the sprints, we progressively delivered functional increments of the platform as the User Stories were completed and tested. This incremental delivery allowed us to receive early feedback from users and adjust development based on their needs.
🔄 Iteration Cycle
We repeated the cycle of planning, development, review, and retrospective in each sprint, constantly adjusting our approach and priorities to adapt to the changing demands of the market and users.
Key Takeaways
📈 Diversify Marketing Strategies
Throughout the development of this business, the focus was on perfecting a single marketing strategy. While we initially experimented with traditional media ads such as press or radio, when the expected results did not materialize, we abandoned them without considering potential alternatives in case our primary strategy ceased to be effective in the future.
At that time, when the cryptocurrency sector was entirely novel, numerous scams emerged, causing concerns for Facebook regarding user protection. As a preventive measure, they decided to restrict all ads related to «cryptocurrencies.» This posed a significant challenge in attracting attendees to our free events, transitioning from filling rooms with 500 people to barely having 40. This situation considerably impacted conversion rates in the room and rendered them unprofitable, as we couldn’t cover the costs.
This became one of the key factors leading to the company’s closure in 2020; the business model became unsustainable, prompting the decision to halt the capital loss in the project.
Today, I’ve gleaned a valuable lesson from FeC: the importance of diversification in marketing, anticipating potential black swan events, and being prepared to adapt to changes and make swift decisions.
💼 Prioritizing Business Needs
In my journey with this company, the sense of teamwork and commitment to the company’s vision and mission was exceptional. We were like a family, sharing trips, meals, and birthdays, motivating us to strive and give our best to drive the project forward.
However, in moments of crisis, tough decisions are necessary. At that time, sales and revenue were the business priorities. Although we had a talented team, there were also roles that were not essential at that moment, and we could have cut costs to invest in the sales department.
Unfortunately, timely decisions were not made, and we continued to incur unnecessary expenses, such as travel, meals, and hotels. This led the company to become unprofitable, and the situation worsened.
In hindsight, I believe the right decision would have been to take immediate cost-cutting measures and focus on the critical needs of the business, concentrating on increasing sales and generating additional revenue. It would also have been necessary to limit superfluous expenses to ensure long-term financial sustainability.
Making tough financial decisions in times of crisis is crucial to ensure the business’s viability. By adapting quickly and making informed decisions, we could have faced challenges more effectively and prevented the situation from worsening.
🤝 Business Ethics
In the course of this experience, I found myself surrounded by individuals with high levels of wealth who were willing to do anything to generate income, regardless of others.
I witnessed betrayals, scams, and lies that seemed straight out of a movie, all in an environment where personal interests prevailed over any other consideration.
The theory is easy, but when you experience it firsthand, the lessons are learned differently. And although I have always been aware of the importance of playing fair, both in life and business, and that questionable practices are not worth it in the long run, this experience shifted my understanding of business and the people involved in it.
e-Learning Platform Development
Key Responsibilities
- Strategic Vision: Provide visionary leadership, aligning project goals with the mission of offering diverse cryptocurrency investment education.
- Curriculum Oversight: Ensure the development of a high-quality curriculum for a comprehensive understanding of the cryptocurrency market.
- Team Collaboration: Facilitate cross-functional collaboration to achieve holistic development of the educational platform.
- Marketing Direction: Direct the execution of targeted marketing strategies, highlighting the academy’s unique offerings.
- Leadership Alignment: Collaborate closely with key leadership, especially the CEO, to align project objectives with long-term success and sustainability.
the project
FeC is a crypto education platform offering diverse investment opportunities for students. Focused on high-quality courses, it provides practical insights into the cryptocurrency market.
Scope: The project revolves around the creation and development of an educational academy specialized in the realm of cryptocurrencies. Its primary aim is to deliver high-quality courses and training programs, ensuring students gain a comprehensive and practical understanding of the cryptocurrency market and its dynamics.
The cryptocurrency education platform consists of four main programs designed to cater to the needs of different investor profiles, from beginners to those aiming for advanced knowledge.
Online Basic Course
The basic training serves as the initial step for any of the platform’s educational programs. Besides providing access to the private Discord group, this course offers a solid understanding of cryptocurrencies. Participants will learn criteria for buying Bitcoin/Altcoins, characteristics of major brokers, how to open a broker account, and build a diversified portfolio. The curriculum covers buying/selling strategies based on budget and time, along with the use of tools like Blockfolio and blockchain.
Advanced Program
The advanced training entails an intensive weekend where participants, guided by experts, create an investment portfolio to avoid mistakes in their initial moves. They will learn coin selection and purchasing strategies, constructing balanced portfolios, and using tools to safeguard their accounts. Additionally, they’ll engage in a weekly webinar for six months to track progress, address queries, analyze the market, and define buying and selling strategies and options.
Trading Program
The trading program covers the necessary concepts for daily operations. Students will delve into technical and fundamental analysis, trading systems, and the significance of trading psychology. Various strategies will be provided based on the market environment, teaching how to invest in the short, medium, and long term. Participants can practice their knowledge through weekly live sessions and receive real-time alerts via the Discord channel to stay informed about opportunities. This course prepares students to confidently navigate the trading world with solid knowledge.
Ultimate Program
A comprehensive module within the cryptocurrency education platform, focuses on providing in-depth knowledge and practical insights into investing, with a particular emphasis on Initial Coin Offerings (ICOs).
Key Achivements
results
✔️ Students Turned Instructors: Thanks to the training and guidance provided by FeC, several students acquired solid knowledge in cryptocurrency trading and became experts in the field. These students now play an active role as instructors, sharing their expertise and experiences with others interested in this sector.
Resources Utilized
Initial Capital: At the project’s onset, we secured an initial investment from the founding partners to cover initial expenses. This funding was allocated for crucial aspects such as developing the online platform, hiring key personnel, and covering other costs associated with launching the cryptocurrency training academy.
Online Learning Platform: We operated an online training platform where our courses, webinars, and educational materials were hosted. This platform enabled our students to access content from anywhere at any time, providing us with a global reach and ensuring flexibility for learners.
Instructor and Expert Team: We had a team of highly skilled professionals in the fields of cryptocurrencies and investment. These experts developed and recorded educational content for our courses, conducted webinars, and provided tutoring to deliver a comprehensive and personalized learning experience.
Recording and Editing Team: To maintain a high standard in our training materials, we had dedicated teams for video and audio recording and editing. This allowed us to create engaging and professional content that captured our students’ attention.
Technological Infrastructure: Our technological infrastructure encompassed servers and security systems to ensure the efficient and secure operation of our online platform, safeguarding the information and data of our students.
Workspace: We maintained a physical workspace that served as a centralized location for the team. This space facilitated meetings, planning sessions, and coordination of activities, promoting effective collaboration among team members.
Risk Assessment
1. Market Regulations
Identified Risk
One of the major risks we faced was the ever-changing regulatory framework for cryptocurrencies. The novel and evolving nature of this market brings uncertainty regarding governmental regulations and restrictions that could impact our operations. Additionally, changes in the public perception of cryptocurrencies could influence the demand for our courses and services.
Approach
To mitigate this risk, we maintained a dedicated legal and compliance team to monitor and analyze regulatory changes in the cryptocurrency space. Furthermore, we established partnerships with legal experts and advisors to ensure we stayed updated on new regulations and government policies. Our strategy was to quickly adapt our courses and educational materials to reflect any relevant regulatory changes and provide accurate and up-to-date information to our students.
Impact
Thanks to our proactive approach, we could maintain the trust of our students and offer them updated and reliable cryptocurrency education. By staying informed about regulatory changes, we minimized any disruption to our operations and continued to be a leading reference in the Spanish-speaking market for cryptocurrency education.
2. Cybersecurity
3. Volatility
Scrum
Using an Agile methodology proved to be well-suited for the dynamic needs and characteristics of the market, allowing the team to be agile and adaptable in their operations. Scrum was implemented to organize and manage the work of the web development, design, video editing, and other teams. Through short and focused development sprints, rapid iteration and delivery of new features and updates to the academy’s platform were achieved.
Project Planning
A Product Backlog was generated, encompassing all the functionalities, features, and essential tasks for the creation of the academic platform. These tasks were organized into different User Stories.
The duration and complexity of each User Story were estimated using the story points technique. Subsequently, a prioritization of User Stories was conducted based on their value to the business and customer satisfaction.
Sprint Planning Meetings
At the start of each sprint (typically 2 to 4 weeks), the development team gathered to select the User Stories to be addressed during that period. We set clear objectives for the sprint and defined what would be considered «done» for implementation at its conclusion.
Daily Stand-up Meetings
We conducted daily stand-up meetings to review the team’s progress and discuss any impediments or blockers affecting the work’s advancement. Each team member shared their achievements from the previous day, outlined their plans for the current day, and indicated if they needed assistance in overcoming any obstacles.
Development and Testing
Sprint Review
Sprint Retrospective
Also, at the end of each sprint, we conducted a retrospective meeting to analyze what worked well and what could be improved in the development process and team collaboration. We identified improvement actions and implemented them in the following sprints to optimize our performance.
Incremental Delivery
Throughout the sprints, we progressively delivered functional increments of the platform as the User Stories were completed and tested. This incremental delivery allowed us to receive early feedback from users and adjust development based on their needs.
Iteration Cycle
Key Takeaways
📈 Diversify Marketing Strategies
Throughout the development of this business, the focus was on perfecting a single marketing strategy. While we initially experimented with traditional media ads such as press or radio, when the expected results did not materialize, we abandoned them without considering potential alternatives in case our primary strategy ceased to be effective in the future.
At that time, when the cryptocurrency sector was entirely novel, numerous scams emerged, causing concerns for Facebook regarding user protection. As a preventive measure, they decided to restrict all ads related to «cryptocurrencies.» This posed a significant challenge in attracting attendees to our free events, transitioning from filling rooms with 500 people to barely having 40. This situation considerably impacted conversion rates in the room and rendered them unprofitable, as we couldn’t cover the costs.
This became one of the key factors leading to the company’s closure in 2020; the business model became unsustainable, prompting the decision to halt the capital loss in the project.
Today, I’ve gleaned a valuable lesson from FeC: the importance of diversification in marketing, anticipating potential black swan events, and being prepared to adapt to changes and make swift decisions.
💼 Prioritizing Business Needs
In my journey with this company, the sense of teamwork and commitment to the company’s vision and mission was exceptional. We were like a family, sharing trips, meals, and birthdays, motivating us to strive and give our best to drive the project forward.
However, in moments of crisis, tough decisions are necessary. At that time, sales and revenue were the business priorities. Although we had a talented team, there were also roles that were not essential at that moment, and we could have cut costs to invest in the sales department.
Unfortunately, timely decisions were not made, and we continued to incur unnecessary expenses, such as travel, meals, and hotels. This led the company to become unprofitable, and the situation worsened.
In hindsight, I believe the right decision would have been to take immediate cost-cutting measures and focus on the critical needs of the business, concentrating on increasing sales and generating additional revenue. It would also have been necessary to limit superfluous expenses to ensure long-term financial sustainability.
Making tough financial decisions in times of crisis is crucial to ensure the business’s viability. By adapting quickly and making informed decisions, we could have faced challenges more effectively and prevented the situation from worsening.