Have a Good ICO idea? Here How You Launch it!
Have a Good ICO idea? Here How You Launch it!
The process of taking your idea to the implementation of successful ICO is the biggest concern for the entrepreneurs and business owners nowadays. Your idea should be well communicated to the public and participants. The founders and the people behind the idea arise with the executive summary and small presentation explaining the main purpose of the proposed ICO project.
The idea of the ICO project is extremely important especially in the blockchain industry where people are looking to invest in the viable and useful project. Launching a successful ICO requires a step by step process. In this article check how your idea can be formulated into the launch of successful ICO.
The idea of the project is crucial. Whether it is new concept or improvement in the existing one, make sure it is achievable. Blockchain community consists of people who are ready to invest into the viable and useful project that works efficiently in the real world environment. In other words, promise something that you can deliver to the investors. There should be an idea to solve the problem proposed in the ICOs.
Every project requires an expert team and ICO isn’t an exception to this. You will require the team for software developers, website front end and back end developers and blockchain developers. There should be a team of expert advisors and proficient people having proper experience in the ICO. They should be aware of PR management, social media marketing and community management, developing code, etc. Additionally, it is a huge benefit if the team members know the different language.
- Product Planning
With the team of experts, important decisions such as the technology to be used in designing the product are planned. You have to mention the technical specification of the product. It also includes the detailed plan on how as the project owner you will develop it for the long run. The investor should have the full knowledge of idea that the project conveys. When investors know the benefits of investing in your ICOs, they will definitely purchase the funds. You have to be realistic about your goals. Try to include all the possible information in this section keeping full transparency to earn the trust of investors.
- Market Intelligence
It is important to study the current market scenario. There should be a purpose of issuing a successful offering keeping remember the pitfalls of the market. All the projects approaches are different hence there is the reason to analyze them all.
- White Paper
The white paper is the most important document for your ICO. It includes all the details of your ICO such as the amount of funds, terms, frames and key dates. The ideal structure of whitepaper includes the following details.
Background- Explain here reasons for staring the ICO, what inspired you and introduce your team to the real world.
Introduction- It includes the description and market analysis of the blockchain technology and its environment.
Analysis- Competitor analysis and growth potential
Product Section- This is the main section of the ICO as it includes the in-depth description of the product.
Roadmap- It includes the complete details of milestones of what is already done and what is the plan in future.
Team- This includes the key employers and their respective experience
Financial Projections- In this section, explain the money required for investment and the purpose of the expenditure.
Conditions for funders- You should clearly specify the agreement between the funder and you. The issuer is crucial otherwise it can lead to concerns among the community and investors.
Risks and awards- Include all the risks and awards. In fact, investors love to hear about the returns they will get after investing.
Conclusion- This includes the results and conclusion of the whitepaper.
- Launch the ICO
When you get to this point, then the smart contract automatically kicks on the certain period of the day and block number. This is basically written in open Ethereum network software. The ether is sent to the smart contract which calculates the ether, token exchange rate and then finally sends to the buyer. You must check the ICO investing guide 2018 for investing in the best ICOs before launching.
- Promotion and Marketing
Start your promotion on the website. If you’re running short of budget then you can utilize the ready-made solutions such as WIX. But keep in mind that the professionally look website earn the trust of investors than a website on other platforms. You can market the ICO to the social media and communities such as Quora, Telegram, Reddit, LinkedIn, Twitter, Facebook, etc. In fact, you can market to the ICO specific resources such as Tokendata, Icotracker to get the better results.
By now, you should be familiar with how the idea can be formulated into the launch of the successful ICO. Follow this process and get positive returns from your ICO.