If you have a startup project or an existing company and are planning to get some investments in, doing an ICO is one of the best and fastest ways to get the working capital you need. We are currently in the age where a lot of startups happened and became successful due to the support they got from people.
Now, the question you are asking is, how do I gather a lot of investors to my ICO? What are the things I should do to have a successful ICO phase? Well, fret not! I have dissected some of the most successful cases in the past and I will be discussing the common steps that these projects shared to make them successful.
Most of the successful projects recently share this first step. They have all highlighted a common problem that a lot of people are currently experiencing. The common ones are banking, security, esports, social media and ideas dealing with entertainment such as streaming services and music. These are the types of stuff that the Average Joes and Janes experience on a day to day basis. Here are a few examples.
These are the most common problems that will attract a lot of investors because they experience these issues a lot and would gladly support a project trying to solve these or offer a different solution to them.
Once you have identified the problem, now is the time to find the right solution to solve it. In here, you do most of the research on what is the best way to tackle the issue. After the research is done, you must lay it out and present to the world in the form of a white paper. The white paper is the most important thing that people read before investing in a company.
Make sure that your white paper states the details on how you will be able to deal with the problem. Also, make sure that your technology is viable and readily available to the people, who you are solving the issue for. Here are the solutions to the above problems from the first part.
The team behind the project is as important as the white paper they are going to publish. These people are public figures and investors will be looking at them before they make a decision. Make sure that your team opens up their work background out to the public. Having a history with something similar to the project you are currently running will give you bonus points to the potential clients. Bonus points also apply by posting your Linked In profile on the white paper for everyone to read.
Also, if you are planning to hire team members for your company, make sure that they fit the theme of the idea you are working on. If you are on finances, make sure to hire people with that background.
This is one of the most important aspects you need to do if you want to get a lot of investors during the ICO. Marketing is a very powerful tool and all of the big companies use it. You need to market your product to everyone out there. If you keep your project to yourself and a few close friends, you will get nowhere.
Now, if you hired a marketing team that knows their job, you will most likely get success and you will be sure to get a lot of attention. If they do their job properly, the consumers will do half of the job for you. These examples are the marketing strategy employed by the three companies we are reviewing.
This is another common trait shared by these successful ICOs. They were very open to answering questions being lobbed at them by the potential investors and consumers alike. This is where the team should do their best to answer all questions, as it will put the investors at ease. It would be good to release a roadmap, so that the people will know what will happen to their money, and can see how it will be used for development.
Also, be keen on hearing suggestions and answer them politely if it is not viable. A lot of ICOs with good technology failed because the team managed to alienate their clients by not answering questions or snubbing suggestions.
If you manage to do all of these successfully, I am sure that you yourself would have a very successful Initial Coin Offering phase. Some of these are tested and proven steps to gather a lot of ICO participants. Just make sure you find the right problem to solve and offer the right technology as the solution and you are set.