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Episode 45 | Chuck Cummings from Bankless Consulting on BUIDling a Web3 Consulting Firm
Manage episode 362557634 series 3394208
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Whenever I speak to people who are currently working or have worked in large accounting, investment and consulting firms, there is a recurring pattern I hear.
The distribution of wealth is heavily skewed towards those in positions of power and authority, that is the partners of these firms
Besides the disproportionate gap in remuneration, the people down the hierarchical ladder do not enjoy as much recognition for their work in these white-collar factories.
So how does a consulting turn this broken business model to make sure everyone enjoys a fair piece of the pie
Enter Bankless Consulting, the world’s first web3-native professional services consultancy.
As a DAO, 90% of their revenue generated is allocated to the project team.
On Episode 45, I spoke with Chuck Cummings, the co-founder & Head of Finance of Bankless Consulting.
Topics covered
- Episode intro (00:39)
- Chuck’s background and how he got interested with blockchain (2:38)
- Web3 consulting firm principles on shared ownership & profit sharing (4:39)
- Creation of Bankless Consulting (8:02)
- Services offered - tokenomics, DAO consulting, web3 marketing strategy (10:15)
- Onboarding talent (13:36)
- Lessons learned from scaling a remote first consulting firm (17:12)
- Thank you to our sponsor Cryptoworth (18:47)
- Governance at Bankless Consulting, under a DAO model (20:21)
- Examples of projects working with Bankless Consulting (24:18)
- Lessons learned from invoicing in crypto/stablecoins (28:03)
- Using crypto accounting tools (31:20)
- Most used tools as the Head of Finance, Request Finance, Circle (33:08)
- Thank you to our sponsor Web3CFO Club (36:45)
- Experience from contributing to DAOs, & new career opportunities (39:16)
- Social impact projects Chuck is focusing on (44:11)
- Alpha on social impact projects - decentralized data marketplaces (47:42)
- Maxim that Chuck lives by (50:41)
Brought to you by
Web3CFOclub - A community of web3 CFOs sharing best practices around web3 financial operations
👉 Join now for in person events and grow your network at theaccountantquits.com/web3cfo/
Follow The Accountant Quits:
LinkedIN: linkedin.com/company/the-accountant-quits
Twitter: twitter.com/accountantquits
Follow Bankless Consulting:
Twitter: https://twitter.com/banklessconsult
Follow Chuck Cummings:
Twitter: https://twitter.com/mr_cgc
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Website
For show notes and past guests, please visit theaccountantquits.com/podcast/
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