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6 Ways To Improve Collaboration In Remote Agile Teams

Remote agile teams are often well-suited to periods of disruption as long as project leaders can efficiently and effectively adjust to fast-changing business landscapes due to new technology, digital transformations, and upheaval.

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Remote agile teams are often well-suited to periods of disruption as long as project leaders can efficiently and effectively adjust to fast-changing business landscapes due to new technology, digital transformations, and upheaval.

The knowledge that you create for your employees must emphasize being collaborative, efficient, and empowering to encourage them to perform at their best. There’s always a better way to work and collaborate with your remote team. Here’s a great post to read if you want to make the agile method effective.

Communication can become a breeze, especially when the team is in different locations. Using these online collaboration tools, you can empower each member and ensure that deadlines are met, and goals are achieved within the shortest amount of time possible.

Additionally, there are many other methods of improving collaboration, even in a remote work setup. Below are some best practices on how you can enhance team collaboration for small agile teams:

Empower Each Member Success with this new way of working and collaborating requires empowering your remote team with the tools they want to succeed. This should include utilizing tools for group chats, video conferencing, and task management systems.

Tools that allow your staff to interact regardless of location are a must-have, especially in a remote-working environment. Through conference calls, the members will share their thoughts on getting the project done in the least possible time. Once everyone is in the same room, brainstorming, problem-solving, and other essential communication can occur.

1. Follow A Scrum Team Structure

Scrum provides a flexible framework for teams to follow. This enables the structure to be useful for groups and organizations of various sizes. Within the Scrum team structure, everyone has an equal voice.

Woman has video conference with her remote team using laptop and camera

This framework doesn’t follow a hierarchy, unlike traditional development frameworks. Members manage themselves and also have many cross-functional roles. To ensure the plan is completed on time and within budget, every team member is equally essential and has all the skills and knowledge necessary to achieve project completion.

The Scrum structure has always been associated with an agile team setup. This is because it complements an elegant arrangement very well. The Scrum structure recognizes that each member has a specific skill set that helps ensure productivity and have the team complete projects within the deadline.

2. Boost Morale and Bond Remotely

Some types of activities that help keep morale high include get-togethers for light meals or after-work social activities. However, these are difficult to do for employees in a remote working setup.

So, for teams that have to meet virtually, having a weekly or monthly meeting where everyone can discuss light matters would be a good thing. For example, team members may be encouraged to introduce their pets and family members or show off anything significant to their workspace. Teams can also hold fun trivia quizzes, play virtual games together, and even take fun personality quizzes shared with everyone else in a video call.

People are social creatures, and weak bonding—even through virtual calls, can lighten up the work week a little bit. Team members must make an effort to be social, courteous, precise, and discreet. Leaders need to ensure that everyone who works remotely feels as comfortable as if they’re working with each other in person.

3. Monitor Check-Ins And Performance

Using the agile method requires you to empower, assist, and collaborate with your remote workforce consistently. When you want to fine-tune the process, you need to evaluate regularly. This also enables you to learn more about how each member is performing.

With constant monitoring and evaluation, it is easier to spot weak points within the team and improve these areas. Most of the time, this involves pinpointing a bottleneck and looking for ways to decongest it.

Additionally, you’ll be able to observe patterns that depict how team dynamics affect one another. Therefore, the team needs to meet together regularly to analyze what worked, what didn’t and brainstorm how to improve processes.

Skype Chat Application

4. Adapt Remote Coaching and Development Training

Even in a work-from-home setup, personal and career development should not remain stagnant. Your team must be given a chance to improve on existing skills and develop new ones. If you want one-on-one personal coaching, you can have it through video conferencing. Involve all team members and give them the right coaching and development training in an online setup.

Members must also be trained to utilize software and tools properly. Each software has features that could help employees perform faster and more efficiently. However, not all of these features are readily apparent. Hence, you need to train your team to utilize such features more regularly.

Some skills can also be developed through virtual learning. So, whenever possible, don’t hesitate to enrol promising members in short courses and virtual conferences that would substantially improve their technical skills or even their leadership and soft skills.

5. Recalibrate Remote Processes

What was influential in the office may not be relevant in remote work environments. Find the perfect balance by working backwards—start with your desired objectives and adjust your agile procedures as needed. Rather than following a strategy, adapt to the circumstances and unique needs of the business and your team members.

When teams are together in person, they may rely on more organic interactions to create innovative solutions. However, communication has to be strategic and structured when working remotely. You and your team can test various project management tools to see which one works best for most groups.

There must be more room for compromise, especially if you’re working with a diverse and international team. For example, varying time zones must be taken into account. This way, deadlines, reports, and meetings can be synchronized.

Final Word

When companies transition to a remote workforce, there’s a drastic change in working conditions and collaboration, which can significantly affect efficiency and productivity. It’s critical to provide structure to help your team work together in an efficient, collaborative, and productive manner—even while working remotely.

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Blockchain

Can Tokenization of Asset Bring More Investment From the Masses

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance.

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Ripple Cryptocurrency

In a new article, Coindesk has predicted that the Cryptocurrency’s DeFi sector is set to see a resurgence of Security Token Offerings (STOs) and has predicted “a sixfold increase in the total dollars raised using such funding methods over the next four years.”

Tokenization of assets isn’t a new phenomenon, but unlike the waves in the past STOs, this time, it might tip the balance in favour of decentralized finance. The article further predicted that “more private companies will bypass traditional initial public offerings (IPO) and instead use blockchain technology to digitize the capital-raising process.”

Although traditional capital markets and venture capital firms have ceded some prime money-making to DeFi, doing away with conventional IPOs might be a significant first step to democratizing venture financing.

Past the debacle of early blockchain ICOs, where the process by which a company ICOs was easy, but the lack of related regulations within the US and abroad around ICOs had led to many fraudulent crowd sales, illegal airdrops, and outright scams. This, in turn, had tarnished the reputation of blockchain-based projects. However, tokenizing assets and either fiat-backed or cryptocurrency backed by gold and silver have dramatically increased confidence in the crypto-asset markets.

The tokenization of assets that represents a real tradable asset, in reality, is quite similar to the process of securitization. An STO, with increasing frequency, is also used to describe a share in a company, ownership of a piece of real estate, or participation in an investment fund. These security tokens are also tradeable on secondary markets.

The new token economy offers to open up the investment world making it more transparent, efficient, and fair. The simplicity of tokenization will also help in reducing the friction surrounding the creation, purchase, and sale of securities.

In addition, it will bring several advantages for both buyers and sellers that will include:

1. Increased Liquidity of the Market:

The tokenization of illiquid assets in private hands, specifically art, real estate, and the likes, will significantly boost the market’s liquidity. Not only will it make it possible to liquidate the illiquid assets partially, but the ability to trade the security tokens in the secondary markets will also increase the trading activity bringing with it a broader base of traders and investors.

The “liquidity premium” alone makes it worthwhile to tokenize illiquid assets capturing more excellent value for the underlying assets.

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2. Making Transactions Faster and Cheaper:

The intelligent contracts attached with the tokens and their automated execution upon the meeting of coded terms in the smart contract will mean automation and lack of administration of much cheaper transactions. The buying and selling of the security tokens will require lesser intermediaries, faster deal execution and lower transactional fees.

3. Increased Transparency:

Since a security token is also essentially a smart contract, it can be embedded with the owner’s responsibility and rights. The fact that records on a blockchain are immutable searches, provenance and trading history would be a cinch. The entire chain of ownership rights, responsibility, and origin of the security token will be entirely transparent.

4. Greater Accessibility:

Most importantly, tokenization could open up the investment world to a large audience. The high liquidity, market movement, lower investment amounts, and shorter periods required to hold the token can make the token economy to the average investor. Like the ticket divides an illiquid asset, the tokens themselves are readily divisible into smaller and smaller fractions enabling even a small investor to participate in the token economy.

With automated workflows and cheaper and cheaper processing costs, and token administration, the minimum investment amounts will fall further. This will also increase liquidity allowing investors to hold the investments for shorter periods before cashing in. The trading is made even more robust due to secondary markets that operate 24/7.

5. Easier Asset Conversion:

With the DeFi market making the conversion of crypto assets into fiat currency more readily available, the same will become true for security tokens. By providing greater liquidity to an average investor that often shies away from investment into illiquid assets due to fear of the lengthy process of conversion of an illiquid asset into a liquid one.

If anything, the strong emergence and success of the DeFi market have shown us that making finance decentralized, transparent, and easily accessible will bring in more investors, not less, and lead to the market’s democratization.

In conclusion, the advent of a token economy will lead to a more transparent, liquid, accessible, and just financial and investment system that will serve more and more people via financial products and investment opportunities for all.

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