Becoming a DeFi Product Manager: A Strategic Roadmap
A Strategic Roadmap for a Career Shift into Decentralized Finance
I’m currently a TradFi PM, and I’d like to move my career into DeFi. Below is my strategy on how I plan to accomplish this. While this is my plan, it’s good a roadmap for anyone looking to move into crypto.
I wrote this strategy from a PM’s point of view. I’m the product and hiring companies are the customers. As I’m only one person, I only need to sell my product once, and to the right customer, to be successful.
(Check out the About page to learn more about me.)
Market Analysis
Crypto has been in a bear market for the last several years. Currently, it looks like crypto winter has ended, and crypto spring has sprung.
Over the last 18 months, Bitcoin has increased from a low of $16k to the $60-70k range.
There have been no industry bankruptcies or mass layoffs in the last 12 months.
We’ve seen significant innovations (Liquidity Restaking, Runes, BTC ETFs, etc).
The Bitcoin Halving (a catalyst for previous crypto bull markets) occurred on April 19, 2024.
While today may not be the best day to move into DeFi, more opportunities exist now than a year ago.
Customer Analysis
My customers are DeFi organizations (companies, DAOs, etc).
Customer Needs
Target customers are organizations building in DeFi. They’re likely looking for a product manager and have an active job posting on their website. Alternatively, they may not be actively hiring but will be soon.
Hiring managers have three main concerns:
Can you do the job?
Will you do the job?
Will you work out in their organization so they can manage you?
Pain points in their hiring process may include:
They don’t have any qualified candidates.
The hiring process is time-consuming.
Hiring mistakes are costly.
Ideal Customers
When managing any product, it’s important to understand and analyze potential customers. Some customers are better than others, and there could be instances where you should turn customers away.
To evaluate potential employers, I’ve developed a list of “must haves” and “must nots” for in my next role. Desirable items include having autonomy and working with smart, motivated people. Deal breakers include a long commute and a poor strategy.
Every company I meet with will be evaluated based on my criteria. My opinions and thoughts on these companies will not be shared here.
Product Analysis
As I’m the product, my skillsets, knowledge, and experience need to match what hiring managers are looking for.
Product Market Fit
My unique combination of product and project experience, passion for decentralization, and TradFi knowledge makes me a compelling job candidate.
Product Vision Statement
For DeFi companies with an open product management role, who need to hire someone who can manage product development and growth initiatives, Ken Ashe is a product manager, who drives innovation and results. Unlike other PMs, Ken is committed to decentralization and is excited to bring a wealth of TradFi knowledge and experience to the space.
Strategic Roadmap
Everything I wrote until now I would categorize as initial analysis. A foundational understanding of your market, customers, and product is essential to creating a roadmap.
The below roadmap outlines the steps I plan to take when moving into the DeFi space.
1. Update Resume and LinkedIn
Product Management
DeFi
Consider an A/B resume test
2. Network
Leverage network
Have one-on-one conversations with contacts in the industry
Social Network
X, Substack, and Farcaster
Review and update followed accounts
Engage and have fun
Try out the platform
Attend conferences/events
3. Apply to Roles
While most roles are found via networking, the most straightforward way to get a new job is to apply, interview, and receive an offer.
4. Prepare for Interviews
Elevator pitch
Behavioral interview questions
Company analysis
5. Interview
Take notes
Ask questions
Send a thank you note
6. Evaluate Companies
Leverage your notes to evaluate companies based on pre-established criteria
It’s okay to pass on something that’s not the right fit
7. Negotiate Salary
Total comp and benefits
8. Negotiate Resources
Prepare OKRs for the role; review with the hiring manager
Ensure you have the proper budget, resources, and support to succeed
9. Prepare to Start a New Role
Read The First 90 Days
Create a manager Read Me
Adapt and Modify
Leveraging KPIs to see what’s working and what’s not
Update the strategy as needed
Have Fun
Be creative
This is an opportunity to meet new people and learn new things. Enjoy it!
Conclusion
I plan to leverage the above roadmap to successfully land a job in DeFi. While this is a solid plan, I’ll keep an eye out for things I need to adjust along the way.
Please feel free to share your thoughts on this roadmap and/or any experiences of your own. You can comment below or contact me on X and Farcaster.