You need to navigate and document your startup. We guide you on your way to success with our Process Management Software. Know what you need next, have others support you without cash and VCs find and track you.
THE WHY, HOW AND WHAT OF XCHANGE
Why we xchange
XChange is a platform-based collaboration ecosystem combined with a trading platform for virtual shares,
- enabling potential collaborators worldwide to participate in building ventures together, e.g. startups, and receive virtual shares for their contribution, which they can trade;
- enabling founders with a novel graphical navigator and network visualisation to effectively build their venture;
- empowering investors to take KPI-based investment decisions and receive pre-validated opportunities;
- offering a standard virtual share program (VSOP) that is easily understandable and transparent, constantly measured and impact based. Applicable to all entities, sizes and situations incl. employee options.
Founders need orientation, support and quick progress: 1.1 mio new businesses start each year in the U.S. alone. Collaborators strive for meaningful & valued contribution: 500 mio people freelance, moonlight and consult in the knowledge gig economy. Investors seek to easily find most promising ventures, focusing more on Return on Investment (RoI) as well as on impact: 59 bn US$ were invested in 2020 in Europe.
START AND EDIT A PROJECT
Get started in 60 seconds
Click the floating (+) button on the main page in the “project” panel. All you need to get started is a name for your venture and a description, that pitches your venture to collaborators and investors. To develop a meaningful and engaging pitch, see this post for example.You should also add a header that gives a feeling about your venture. This helps to attract collaborators and investors.
Edit your project
Starting up is not a straight line
There are three ways how to work your way through developing your venture:
- Define your own Objectives and Key Results
- Use the Xchange template and complete the startup dimensions
- Explore the map and navigate through strengths and blind spots
There is no right or wrong. Start the way that is most natural to you, then use the various perspectives and jump between the tools Xchange provides to you. It has never been as fun, easy, transparent and rewarding to start up!
OBJECTIVES AND KEY RESULTS
A day in the life of a founder is like building the track while your train is running on it.
It helps to have a framework in which to operate in, like a frame for an empty canvas; and it also helps to define objectives that are like starts guiding your way. At Xchange we built on the concept of Objective + Key Results (OKRs) and married them to a dynamic way of handling these goals and their deliverables. According to the Pareto principle, you want to complete objectives to 80% to achieve a high efficiency.
You can define your own objectives and their corresponding key results. We advise you to link these objectives of yours to the one in the Xchange catalogue that we call a startup “template”. This way, you can connect the steps you choose natural for yourself with the process we distilled out of years of experience from hundreds of entrepreneurs and their analytics. For more info on working with the template, see Templates and dimensions.
TEMPLATES AND DIMENSIONS
Xchange comes with a template that covers the startup development journey. It is your personal incubation program and shows you what you need to do to get from idea to market and show your progress to collaborators and investors.
The Objectives at Xchange
Below you find the 288 objectives in the Xchange template. We distilled them from years of experience with hundreds of entrepreneurs. They follow a hierarchical logic of DIMENSION > CATEGORY > OBJECTIVE. For every objective, you define your own measurable Key Results, add collaboration details and record tasks and results. You can also define your own objectives that are not linked to any pre-defined one.
Every objective is assigned to a Maturity Level, 1-4. The maturity shows you the advancement from a general start to an advanced stage in your journey. The levels can also be taken as sequential steps in the process inside a category; this is not mandatory though.
The Xchange template has the following objectives
MAP AND NAVIGATION
The XChange ecosystem is supporting founders to effectively navigate their venture. The Project Navigator is a managing tool and framework for complex and evolutionary project development, i.e. the Startup process management. It creates the context that allows for collaborative value creation, venture visibility, progress measurement and a dashboard that makes a venture tangible. The community supports startup growth & validation, helps to multiply impact, shares knowledge and earns virtual shares – thus conserving value created as the basis for our Web3 decentralised asset management and NFT trading platform.
A dynamic process
A startup is a living system that evolves in iterations. While classically, projects have a define start and end, resources and conditions, the agile way of looking at it is rather that of a developmental process where goals and steps change along the way. Starting with a first objective, the path grows, diverges and converges. Any iteration is an insight that can benefit the startup as well as the community – and thus turn into an tradable asset for the startup. Value accumulated through collaboration increases the pre-validation of the startup on XChange.
Interface and map
The novel, unique UX and management interface combines the most advanced features from flexible views and tools: Lists, a graphical radar navigator, floating tools and gamification. Whatever happens on the platform is displayed in a systems map giving users quick and intuitive insights into opportunities and blind spots, and matches people, projects and assets. Using a cutting-edge Graph database, 3D analysis and visualisation revolutionises the way of project management.
A novel navigation mode
Our team at Xchange is developing a totally new way to navigate through the process of buidling a venture. The navigator turns tedious project management into managing a project in a dynamic, visual, non-linear process. With guiding questions the navigator guides iterations along templates with 288 guided steps from idea to scaling through 12 dimensions, 6 categories and 4 phases. Continuous adapting via the drag-and-drop card navigation in a radar map allows the needed flexibility to develop a startup successfully.
PROGRESS AND COLLABORATION
Xchange supports your progress with a stringent process to achieve your goals (objectives). Working through the Xchange process is driven by the needs of the founder, or project owner. We are determined to make sure that the platform stays clear of annoying marketing like you experience it on a lot of other platforms. To achieve this, collaborating on a task is always initiated by the project owner by sending a request to a collaborator.
1. Set up an objective
Objective and Key Results
The project owner defines the objective from the template according to a category and an objective from the list that opens below (see ). The owner also has the option to define a completely new objective that is not associated with a category or maturity stage (“0”); they can also select an objective from the list (“1”-“4”) and change its subject which will not affect the association of this objective with the category or maturity stage.
To Dos and Results
To reach an objective, you’ll need to define the way how to get there. Your tasks should all require the same amount of work to make them comparable and manageble. Use the (+) on the right to add them to your ToDo List. Once you finalised a task, you should add the results or outcome again by using the (+). You can write short snippets to describe the results, or paste a link to a cloud storage or website.
Start and end date
An objective needs to have a start and an end date. This is important for contracting reasons but also to incentivise work on this objective.
2. Start a collaboration
Invite a collaborator
There will be many tasks that you will need help with, or you might want to outsource them to move quicker. To do this in Xchange and reward the collaborators with Xshares instead of direct cash, you invite them to sign up to Xchange. Once they are registered, you can add them to an objective. The collaborator then gets a notification and can accept the assignment. This concludes a collaboration contract that becomes binding when the objective is closed.
When completing a task, project owners and collaborator can score their satisfaction with the results of a given objective on a level of 1-5. The satisfaction is a completely subjective measure to evaluate the outcome of an individual or collaborative work. It should be handled with utmost care:
Currently, the Xchange platform follows a simple valuation logic for work on a project: Owner and collaborator agree to a given monetary value for the service provided by the collaborator, e.g. the market value for the collaborator as a bulk sum or an hourly rate.
3. Close an objective
To close and objective hit “close objective” in the objective card. This also closes the collaboration contract opened when a collaborator accepted the invitation. Don’t forget to close an objective! Only closed objectives score in your analysis, and show your progress to collaborators and investors. It is also important for you as the owner to close the open contracts with your collaborators so both sides are clear about the delivered task and the value held by the collaborator henceforth.
Xchange comes with a built-in automatic analytics dashboard for each venture. To leverage the analytics for yourself or show progress to investors, you will need to link your objectives to the objectives in the Xchange template.
The main bar in the project header, and its miniature version in the project cards, show the “completeness” of the project – or in other words: How far you are on the way from start to investment readiness. The score in yellow shows the objectives you have completed (objective progress over 80%) out of the Xchange process that leads you through 288 objectives.
Below the completeness bar you find three metrics as circles. The first one shows the progress, i.e. the ratio ofcompleted objectives (objective progress over 80%) to open objectives (objective progress under 80%). All objectives you added to your project are counted to calculate your progress. The percentage indicated is the average of the progress of objectives per category over all dimensions. This metric thus shows how far along you are in the work through your own goals and tasks instead of the completeness, which shows how far you came from start to investment readiness.
The second circle metric shows the overall maturity of your project. Every objective comes with a Maturity Level. The maturity shows you the advancement from a general start to an advanced stage in your journey. Maturity scores are additive, that means level 1+2+3+4 add up to a maximum of 10. The metric is the mathematical median calculated from the maturity of completed objectives per category over all dimensions.
The second circle metric shows the overall satisfaction with the results inside your project. When completing a task, project owners and collaborator can score their satisfaction with the results of a given objective on a level of 1-5. This metric is the mathematical median calculated from the satisfaction for completed objectives per category over all dimensions.
In this tab, each detail of your project is analysed for you to gain a life overview about your venture on the way from start to investment readiness. In the current version, quantitative and qualitative data is shown on a dimension level only.
The left bar graph shows the dimension’s completeness, i.e. how much this dimension contributes to your investment readiness. The score is calculated from the objectives you have completed (objective progress over 80%) out of the Xchange process that leads you through the 24 objectives per dimension. The colour code indicates the Maturity median in this dimension from grey, over yellow and green to purple.
The right bar graph shows the progress in the dimension, i.e. how many objectives were completed out of all objectives started (Average of Category progress per dimension in %). The colour code indicates the Satisfaction median in this dimension from grey, over yellow to green.
XCOINS AND THE XCHANGE ECONOMICS
Currently, the Xchange platform follows a simple valuation logic for work on a project: Owner and collaborator agree to a given monetary value for the service provided by the collaborator, e.g. the market value as a bulk sum or an hourly rate. The value is expressed in Xcoins with a fixed rate of
Xcoins : EURO = 1 : 1
Refer to the current exchange rate of your local currency to EURO if you access Xchange from a location outside the European Union.
The future of the Xchange economics looks like this:
A project owner has a need that is fulfilled by a collaborator in the community. Automatically a contract is generated on Xchange that specifies the details, most importantly the objective and value of the agreement
The contract on Xchange is saved as an NFT in the blockchain. This way it becomes immutable and publically accessible. The NFT is the property of both contract partners; accessibility can be individually regulated.
The NFT has an initial value specified by the contract that is equivalent to a percentage of the overall project value. This percental value is called an Xshare. The more value a project accumulates through collaboration, the more valuable it becomes. Xshares are monetarized at a future trigger moment, e.g. an exit or investment.
XShares can be traded on the Xchange platform for Xcoins. The volume of Xcoins is defined by the overall volume created by contributions saved as NFTs. The sell-buy-rate of Xshares to Xcoins depends on the overall volume of Xcoins and the value of the NFT.
Xcoins can be bought through fiat or crypto currency. The exchange rate depends on the overall volume and a free-market-price. This allows the crowdfunding of projects on Xchange while actively supporting the development of this project.
NFT: The non-fungible token on Xchange is the unique and non-interchangeable unit of data that describes the interaction between a task (or project) owner and a collaborator. The NFT represents the contract that is automatically generated when a collaboration occurs on Xchange; it is mirrored from our Graph database onto a blockchain.
Xshare: The Xshare is the value that is calculated for a collaboration task. The value of the Xshare depends on the initial value of an NFT and the overall project volume. The value of an Xshare is also considered when calculating the price of an NFT on the Xchange trading platform.
Xcoin: Xcoins are the internal currency of the Xchange platform. NFTs can be sold on the Xchange trading platform for Xcoins at a given rate that depends on the initial value of the NFT and its usage in projects on the platform (and beyond). Xcoins can also be bought through fiat or crypto at a rate determined by the overall NFT value volume on the Xchange platform.