It's another day and you all know what that means... it's another outsourcing Q&A!
Today we are focusing on Durgham Mushtaha, Owner of Crypto by Numbers.
1) Sum up your business in ten words:
We demystify Crypto, bringing it within reach of the average person.
2) What makes you guys unique or stand out from the crowd?
Cryptobynumbers.com is dedicated to the promotion and adoption of decentralised finance through online, live and interactive courses, taught by experts in Blockchain and Bitcoin related technologies. Our courses are designed with the beginner in mind. We offer a Bitcoin Basics introductory course, which gives our students a solid foundation upon which they can launch their careers or portfolios. Our Bitcoin Bootcamp is a more in depth look at the technical aspects of the technology, its risks and best practices as well as step by step instructions on its use cases. Our website, cryptobynumbers.com, is loaded with free tutorials, "How To" articles, impartial exchange and wallet reviews, and a news hub with the latest industry news from all the best trusted sources from the industry. We have aggregated podcast, video, social media, blog and news sources all in one place enabling our users to make good decisions based on sound fundamental intel for their analysis.
3) How has Covid-19 been for your business?
The pandemic and subsequent lockdown has allowed people the time and energy to focus on their own wellbeing more than ever. They have come to appreciate a better work life balance and because of this, people have begun to examine their financial futures with more scrutiny.
Decentralised finance (DeFi) has already allowed a growing cohort of the population in Ireland the financial security that was previously unachievable for the average person. Most people have heard of Bitcoin, but have little understanding of the technology that drives it; Blockchain. This technology decentralises and circumvents the traditional financial system of banks and financial institutions, allowing us to exchange value securely and directly between one another without the need for an intermediary.
This is the main value proposition of the Blockchain and the currencies that are built on it, like Bitcoin. And this is why the adoption curve is so steep. The lockdown in Ireland has given people an opportunity to seek out education and become part of this financial movement. And our courses have increased in popularity along with peoples desires to become financially free.
4) Is your business suited to remote working?
This is still a relatively new industry. The blockchain white paper was only published in 2008 and the first Bitcoin transaction didn’t take place until the following year. So, most operators are owned by young, computer savvy coders and engineers who understand and can navigate their way around the tools needed to work virtually. And given that our core technology operates entirely online, most of the main players in the industry hire remote positions as a rule. And we operate on the same principle.
5) Do you think it’s important for a business to outsource in order to grow?
Of course! This is particularly important for small and medium sized companies that are growing rapidly. Working with smaller budgets, means you may not have the capacity to create in-house resources, so outsourcing becomes a necessary budgetary constraint. However, tech companies are extremely efficient, and find novel ways to reinvent functions from the ground up. So, often times, outsourced tasks eventually get soaked back into existing internal systems.
6) What areas of your business would you be inclined to outsource before you hire in that area?
Like most start-ups, we outsource our legal and pecuniary functions, which allows us to focus on building a great service for our students. And since our industry is rapidly changing, we innovate along with it. It is important to ensure we teach the most up to date information, allowing us to become a trusted provider of quality courses.
7) Does your business provide an outsourced service for another business? If so, what is it?
We do not, but that is not to say we won’t in the future.
8) Do you feel you have enough information when it comes to outsourcing- when and how to use it to its full advantage?
We are lucky to have directors who have experience running many international start-ups in the past. And this experience has proven invaluable. The speed at which we came to market, the efficiency of our internal systems, and the quality control regulating our services, have all been as a result of this experience. However, we would always advocate for the further development and innovation of new best practices and standards, so we are always open to receiving more information.
9) Do you feel outsourcing could bring you any advantages such as: getting an expert opinion, getting things done faster, reducing cost etc.?
Yes, of course. As mentioned before, outsourcing is a crucial element of any industry, and should always be considered.
10) In which instances would you never outsource and only hire in-house?
Any functions related to our core service offering would be developed in-house and never outsourced. In this way we can stand behind the quality of our courses, ensuring they provide innovative and novel perspectives and methods to our customers.
Another great Q&A- really interesting. If anyone wishes to get involved in the future, please get in touch!