The governance areas that are common to all DAOs are:
Collective asset ownership and management. DAO treasuries and balance sheets should function like decentralized corporations with considerations of assets and liabilities, liquidity, income, and where to allocate financial resources.
Risk management for assets. Volatility, price, and other market conditions necessitate continuous monitoring.
Asset curation. From collected artwork to collateral for lending, all DAO assets benefit from goals and process around curation.
One should form a DAO only when it is clear that all of these governance areas are demanded by a community.