Bit To Byte: A personal message to the community

August

New Member
Jul 30, 2017
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Hi everyone,

I would like to address a comment that was in response to our Bit To Byte proposal and our ability to deliver on our mission.

If you have not read through or voted on our proposal I recommend doing so before continuing on this thread.

Watch our videos for a quick recap and view the Bit To Byte proposal here:
https://DashCentral.org/p/BitToByte

One of the comments on Dash Central addressed some concern:

n00bkid 0 points,1 hour ago
"I'm very supportive of what you've done so far, and hope you continue doing more of the same.

That said, I don't believe you yet possess the experience nor the know-how to manage $50,000 per month. If you keep it up, you will have both someday, however.

Start small. Then work bigger. You have the potential to be a long-term, big-time DASH player within the educational outreach and charity fronts.

In other words, you have the potential to make DASH look very good. But I won't allow this level of funding to overwhelm you at this early a stage -- which it would.

Scale back your plans, and come back asking for a significantly smaller sum. "
In response I stated:

"
Hi n00bkid,
Your support is greatly appreciated and thank you for addressing the concern with the size/scope of our mission and ability to properly manage the funds.

To begin, let me make clear that we have taken this into account. Starting a few weeks ago, we addressed the fund management concern internally. We have been working behind the scenes to develop a decision making process for fund distribution and purchase requests in our organization. We have a purchase request form that all departments fill out and each consecutive management tier has to approve the request individually.

On a personal note, I did not mention this in the proposal but after receiving feedback from professors and community members I have decided to postpone some of my engineering classes for the current semester in order to prioritize our proposal and to not attempt to overcommit myself with responsibilities.

Additionally, I’ve made arrangements to work with an Engineering professor at our university and have established an Independent Study credit hour course where I will be documenting my experiences and progress in running Bit To Byte. This will allow me to receive consistent feedback and be responsible for progress reports to my designated mentors.

Lastly, I’d like to clarify that this is not a ‘one man’ job, we are compartmentalizing the Bit To Byte foundation as well as hiring additional team members to assist in the responsibility of the funds. We are in the process of hiring a professional accountant as well as streamlining our purchase management system. Our core team has also been receiving consistent business consulting services through our university's Business department via. http://iowasbdc.org

I hope that clarifies any misconceptions about our management capabilities as a student startup and reassures the community that we take these concerns seriously.

Sincerely,

August Domanchuk
CEO of Bit To Byte

"