Secret of successful ICO: marketing, team, and law
ICO success depends on various factors. It is not uncommon that, missing some details, organizers can put the entire campaign in jeopardy. Let’s examine the most significant token sale aspects and find out who can share the experience of launching ICOs.
What to focus on when preparing for ICO?
1) An idea. It is one of the simplest and, at the same time, most difficult ICO steps. Not every startup realizes that investors are already fed up with all kinds of ICOs, including those using token sales to obtain illicit gain. Investors have become much more scrupulous, thus it is quite important for a startup to have a fresh and efficient idea that will bring actual benefit.
2) A team. When startup founders decide what product they want to launch, it’s time to find like-minded people. Most frequently, companies need programmers, content specialists, PR managers, designers, legal advisors, and marketers. It would be better for these people to have a real experience in ICO campaigns, which will allow to succeed faster. However, the market is now lack of specialists, so you should consider an option of hiring remote workers.
3) Registration of a company and choice of jurisdiction. It is a quite crucial point because, choosing a certain country where a startup carries on its business, you also choose the laws to comply with. It refers to AML/KYC, tax legislation, and all sorts of subordinate acts. Therefore, you should choose the most flexible jurisdiction regarding token sales.
4) Whitepaper and MVP. Seemingly complex words are quite simple in fact. MVP is your Minimum Viable Product that you should definitely design and show to potential investors. Otherwise, you will hardly raise much funds during an ICO. Whitepaper is a description of your campaign, including a business plan, token distribution, information about the product, and the whole concept in general.
5) Marketing. This term is pretty comprehensive, but it is marketing that affects the first impression about startups and first funds. The better marketing campaign is, the more people will find out about a startup. Marketing includes website launch, email newsletter adjustment, development and management of social media accounts, announcement of bounty campaigns on specialized forums, answers to the users’ questions, advertising on major online platforms, placement on ICO trackers, and even translation of documents into other languages.
That's it? Is it time to launch ICO?
Given above are only the most critical aspects that should be taken into account by entrepreneurs who are going to launch an ICO. Actually, there is an enormous number of token sale aspects, as each company is unique and has its own approach to the solution of certain issues.
Blockchain & Bitcoin Conference Georgia will feature a panel discussion dedicated to the successful token sale launch and all pitfalls: correct marketing, proper investment in product development, legal compliance, and modern trends on the ICO market. The event will bring together international cryptocurrency experts with experience in launching and consulting ICO projects. They will include:
- Alex Sudadze, Founder of Bitcoin Embassy Georgia;
- Sandris Murins, Co-Founder of Iconiq Lab and ICO advisor;
- Gordon Einstein, Leading Partner at New York-based CKR LAW LLP