E89: Blockworks Founder - How To Build A $135M Crypto Empire From Scratch (Formula Revealed)
Sep 26, 2024
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Jason Yanowitz, CoFounder of Blockworks, shares his journey from college schemes to building a $135M crypto media empire. He discusses the challenges of starting without prior experience and the critical role of networking in the crypto space. Jason opens up about his intense battles with cluster headaches and their impact on his work life. The conversation also covers the strategic shifts made during the pandemic and the evolving financial landscape of podcasting, emphasizing trust and integrity in audience relationships.
Building a strong brand on social media and hosting events are crucial for establishing credibility and networking in a competitive market.
Successfully raising capital not only boosts operations but also emphasizes the importance of maintaining trust with investors and audiences.
Addressing personal health challenges like cluster headaches can impact professional performance and encourages a supportive entrepreneurial community.
Investing in high-quality design from the start enhances perceived value and aids in establishing authority within the cryptocurrency space.
Deep dives
The Importance of Events and Branding for Entrepreneurs
Building events and establishing a brand on social media platforms like Twitter are considered essential strategies for entrepreneurs entering a competitive market. These methods create opportunities for networking and help in establishing credibility within the industry. For instance, hosting events allows entrepreneurs to connect directly with potential clients and collaborators, generating a community that supports the business idea. This grassroots approach can be particularly beneficial in industries like cryptocurrency, where establishing a trustworthy reputation is crucial.
The Challenge of Raising Capital
Successfully raising capital, such as the $12 million acquired, profoundly impacts a company's operations and expectations. This influx of funds represents a commitment to investors, who anticipate significant returns on their investment. In the context of a media business like Blockworks, it is noted that media cannot be solely reliant on revenue generation; trust plays a vital role in this sector. Consequently, companies must balance aggressive growth strategies while maintaining the integrity and reputation that earned them initial trust with their audience.
The Impact of Personal Health Issues on Professional Life
Dealing with personal health challenges, such as cluster headaches, can have considerable effects on professional performance and interactions. These headaches are notorious for their severe pain, sometimes leading individuals to consider drastic measures for relief. The discussion highlights the misconception behind such health issues, which can produce stigma around mental strength and performance. Openly addressing these concerns can not only foster understanding but also create a supportive network within the entrepreneurial community.
Learning from Past Mistakes in Business Strategy
Reflecting on early business decisions, one significant realization was that the focus should have been on developing core in-house content rather than supporting other brands' projects. Initial efforts prioritized immediate cash flow through agency partnerships, which did not contribute to building intellectual property or long-term brand value. The evolution of Blockworks showcases the importance of aligning business activities with the overarching vision and ensuring that all efforts contribute to sustainable growth. Transitioning to a media-focused business model solidified their identity and opened new revenue streams.
Navigating the Cyclical Nature of the Crypto Market
The cyclical volatility of the cryptocurrency market presents unique challenges for company growth and employee expectations. In bear markets, companies often have to defy conventional wisdom and take risks, such as hiring amidst widespread caution. Conversely, during bull markets, companies must manage rapid growth without feeling pressured to overextend. Understanding the market's cyclical behavior allows businesses to plan their strategies effectively, ensuring they are positioned to thrive regardless of prevailing market conditions.
The Power of Design in Establishing Credibility
Investing in high-quality design from the inception of a business can significantly enhance perceived value and authority in the market. A visually appealing branding and user interface can make even a small company appear more established and credible. As Blockworks experienced, the perception created by professional design can attract attention and facilitate connections with industry leaders. This principle underscores the necessity of treating design as an integral component of business strategy rather than a secondary consideration.
Looking Ahead: Predictions for Crypto's Future
The outlook for the cryptocurrency market suggests a strong potential for an upcoming bull market driven by factors such as regulatory clarifications and the potential for institutional investment. Despite prevailing market volatility, historical trends indicate that significant price increases can occur rapidly once bullish sentiment takes hold. This optimism is compounded by the increasing institutional interest in crypto products, hinting at transformative changes that could reshape the industry. Thus, proactive engagement and positioning can maximize opportunities in the predicted market upswing.
Jason Yanowitz is the CoFounder of @BlockworksHQ , a $135M Crypto Media Empire that delivers premium insights and breaking news on digital assets to millions of investors. He is also the Co-Host of the @empirepod , the go-to podcast for crypto founders.
Throughout the conversation, we explore the challenges of building a business with no experience, the lessons learned from pyramid schemes Jason was involved with while at college, and more
Jason publicly shares about his cluster headaches, often called "suicide headaches" due to their intense pain and the higher risk of suicide they carry. These headaches keep him from working for weeks each year.
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PARTNERS
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https://www.dvinlabs.com/
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FOLLOW JASON
• Twitter: https://x.com/JasonYanowitz
• LinkedIn: https://www.linkedin.com/in/yanowitzjason/
• Website: https://blockworks.co/
FOLLOW BLOCKWORKS
• Twitter: https://x.com/blockworks_
• Website: https://blockworks.co/
• LinkedIn: https://www.linkedin.com/company/the-blockworks-group/
FOLLOW KEVIN & WHEN SHIFT HAPPENS👇
Twitter (X): https://x.com/KevinWSHPod
Instagram: https://www.instagram.com/kevinwshpod/
TikTok: https://www.tiktok.com/@kevinfollonier_
Linkedin: https://www.linkedin.com/in/kevinfollonier/
Website: https://www.podpage.com/when-shift-happens/
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DISCLAIMER
The info contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal, or tax advice. The content of this video is solely the opinions of the speakers who are not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speakers do not guarantee any particular outcome.
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0:00 Introduction
2:06 Sponsors
2:30 Biggest Mistake in Business
4:55 Blockworks Founders
6:02 Who is Jason Yanowitz?
7:04 Getting into Digital Marketing
10:06 Pyramid Schemes VS Sh*t Coins
11:30 Lessons Learned from Pyramid Schemes
13:59 Ending Finance Career for Crypto
15:16 Launching a Business
18:17 Crypto Currency Fascination
20:48 Using Events to Break into the System
22:18 Starting a Business with No Experience
23:49 Building a Media Company
26:48 Dollar Value in the Market
30:36 DVIN Labs Partnership
31:00 Cutting a $7 Million Business
34:27 Launching Empire Podcast
35:46 Why Can a Podcast be so Valuable?
38:11 Brand Awareness VS Customer Acquisition
39:39 Hidden Economics of a Conference Business
43:40 Model for Todays Media Companies
47:30 Data Business Importance
50:10 Raising $12 Million
52:01 Staying Authentic after Success
53:34 Dealing with Pressure
54:43 Experiencing/ Dealing with Cluster Headaches
1:05:52 Dealing with Health Issues
1:08:00 Public Perception of Fragility
1:11:02 Vulnerability is a Superpower
1:12:48 Crypto is a Violent Industry
1:13:37 Execution VS Thinking
1:15:47 Reaching Fulfillment
1:17:37 Happiness Comes from Struggle
1:19:30 Love for the Business
1:22:21 Expanding the Company
1:25:45 Hiring the Right People
1:29:24 People Management as a Founder
1:31:51 Seeing the World in Markets
1:35:08 Financial VS Societal Interest
1:38:46 Trump VS Kamala for Crypto
1:42:12 Fascinating American History
1:44:03 Importance of American History
1:45:59 Non-Consensus Beliefs
1:48:08 Prediction for the Next 12 Months
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