How To Make 6 Figures+ With Smart Contract Audits

Summary

This video offers a comprehensive guide for aspiring smart contract auditors to transition from beginner to earning six figures. The speaker, founder of Guardian Audits, shares personal insights and strategies, emphasizing the importance of building a personal brand and leveraging contests to gain initial exposure. The script outlines steps to establish an inbound sales process, build a network, and create a risk-free offer to attract clients, ultimately leading to a successful and lucrative auditing career in the web3 space.

Takeaways

• 🚀 **Starting Point**: The speaker emphasizes the importance of having a solid foundation in smart contract auditing, including knowledge of Solidity, experience with DApps, and familiarity with security practices.
• 💡 **Personal Branding**: Building a personal brand is crucial for long-term success in smart contract auditing, as it makes one irreplaceable and compounds over time.
• 🏆 **Contests as a Tool**: While not ideal for long-term income, contests can be a great way to kick-start one's brand and gain initial recognition in the field.
• 🔄 **Avoid Commodification**: Being part of a contest can commoditize auditors, making them easily replaceable. It's better to build a unique brand that grows with each effort.
• 📈 **Inbound Sales Strategy**: The speaker recommends an inbound sales process over an outbound one, given the time-specific nature of smart contract audits.
• 🤝 **Building Connections**: Networking is key to establishing a strong presence in the web3 space, which can lead to inbound leads and clients.
• 📊 **Value-First Approach**: Offering value upfront without expecting anything in return can initiate connections with protocols and build trust.
• 📝 **Documentation and Transparency**: Keeping a public record of audits and findings on platforms like GitHub can enhance credibility and attract clients.
• 💰 **Risk-Free Offers**: Making an offer that is contingent on finding vulnerabilities can reduce the perceived risk for clients and increase the likelihood of securing an audit.
• 📈 **Portfolio Development**: A growing portfolio of quality audits and collaborations contributes to a strong personal brand and attracts better clients.
• 🌐 **Community Engagement**: Actively participating in the community by sharing knowledge and insights can lead to more connections and opportunities.

Q & A

What is the main goal of the video?

The main goal of the video is to provide a comprehensive guide on how to earn six figures or more as a smart contract auditor, sharing the speaker's personal experience and strategies.

Why did the speaker found Guardian Audits?

The speaker founded Guardian Audits to transition from zero to getting paid audits, eventually quitting their job as a software engineer and building a team to deliver high-quality audit reports to major protocols.

What is the speaker's view on using contests as a long-term income source for auditors?

The speaker does not favor contests as a long-term income source because they commoditize auditors, making them easily replaceable. However, they acknowledge contests as a good way to kick-start a brand and improve auditing skills.

Why is it important to have the same handle on Discord and Twitter for an auditor?

Having the same handle on Discord and Twitter helps an auditor to be easily recognized across platforms, which can boost their personal brand and reputation in the web3 space.

What is the key difference between inbound and outbound sales processes in the context of smart contract auditing?

Inbound sales processes focus on clients coming to the auditor when they need the service, while outbound processes involve the auditor reaching out to clients regardless of whether they need an audit at that time. Inbound is more effective for time-specific products like audits.

How can auditors provide value to protocols without expecting anything in return?

Auditors can provide value by releasing articles that do high-level technical breakdowns of protocols, offering free code reviews, or participating in audits and contests, all with the aim of initiating connections and building trust.

What is the significance of building a personal brand and portfolio in the web3 space?

Building a personal brand and portfolio is crucial for gaining credibility, showcasing expertise, and attracting inbound leads and clients who need smart contract audits.

What is the 'pay per vulnerability' model and how does it benefit the auditor and the client?

The 'pay per vulnerability' model involves asking for a small down payment and charging more only if vulnerabilities are found. This removes risk for the client and makes it easier for them to accept the offer, while still allowing the auditor to be compensated for their work.

How does the speaker suggest building a network in the web3 space?

The speaker suggests building a network by participating in industry events, joining Discord servers, engaging on Twitter, collaborating on audits, and consistently providing value to the community through shared knowledge and insights.

What is the importance of protecting one's personal brand when choosing clients for smart contract auditing?

Protecting one's personal brand is important because the quality of clients and reports directly affects reputation. Choosing serious clients who value security and are willing to pay for quality work can lead to a virtuous cycle of better clients and higher earnings.

What additional resources does the speaker offer for those interested in smart contract auditing?

The speaker offers a link to lab.guardianaudits.com for building web3 connections and joining a group of auditors, and a program collaboration with security professionals for those who want to become certified pro smart contract auditors, with a discount provided through a link in the description.