Scams associated with ICO have raised scepticism and distrust among investors. These doubts are justified because various quick money making schemes are taking advantage of ICOs. This affects honest business owners and innovators as well, making it challenging for them to start a successful ICO. Here are a few things to do:
1. Treat it Like Traditional Way of Raising Capital: Just like an IPO, you also need to publish a whitepaper. Be transparent and provide as much relevant information as possible. A standard stock market investment prospectus is usually well-made and consists of hundreds of pages. If you have the resources and time, you should create something like that as well.
2. Identify Your Problems: Once you identify problems in the market, make sure that your products and services can solve them. By being straightforward and make sense, you can easily attract participants and investors. Be the one that offers the best solution and clearly demonstrate the value for your service.
3. Establish Strong Corporate Governance: Long before an ICO, make sure that your business is known for its strong governance. Clearly demonstrate the experience and expertise that you have. Make sure that your ideas have been thoroughly developed and analyzed. Outline a sound governance structure, which is in line with market demand.
4. Advertise Your ICO: There are various means and ways to advertise your planned ICO, beyond social media ads and Google search. You can also generate exposure through news websites, ICO listing website, crypto calendar websites, podcasts and various information portals. Get busy with conferences, meet ups, webinars, meetings and many others. Getting your name out there would be a long and hard slog, so start early! Bringing your business and ICO plan well-known determines your future success. Persuade investors in the crypto-space to consider the viability of your business, product and service.
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