One of the latest trends that has generated global buzz is the way start-up companies are earning massive amounts of revenue in minutes. By offering companies ICO's, they have raised over half a billion dollars so far this year. Thanks to blockchain developers, people have been completing transaction in an easier and more efficient manner; with cryptocurrency. Cryptocurrencies, like Bitcoin and Ethereum, were developed using blockchains that created a new perspective in regards to finance and business. When start-up companies create new cryptocurrency, ICO's are then implemented to establish a solid infrastructure to complete their financial transactions. This then influences other to follow in their steps, creating more cryptocurrency, such as Ethereum.
In order to generate ICOs, entrepreneurs (or start-up companies) first have to establish a company and announce their initial plan followed by creating a detailed plan for the launch of the ICO, publishing a Whitepaper outlining their trajectory. They need to market strategically to their investors so that they can then begin earning a profit. Once that is done, these companies can then create their cryptocurrency using the blockchain, fully advertising their product or service in full detail. People who efficiently initiate the use of blockchain technology can motivate new investors and create momentum for their business. A good promoter and public relations representative are also very important for a successful ICO launch.
In order to conduct a successful ICO, there are a number of factors one must consider before initiating a launch. First, the company’s executives, as well as the image of the company itself should always maintain a transparent brand before, during, and after the launch. The team leading the entire operation is also very important and it must consist of people who are not only reputable, but adaptable too; a team with expert knowledge in blockchain technology. Next, you should always be ahead of problems. If your company doesn’t respond to public queries, your ICO has an increased chance of failing. Investors need to know all the details about a company before they allocate any funds to you. In order to establish and ensure trust, you must have a response team ready for any problems that may arise. Also, by setting a minimum and maximum threshold limit for the amount of money raised, you garner more trust in the eyes of the investor.
To summarize, there are three important aspects you and your team must understand in order to run a successful ICO; the technical understanding of block chains and cryptocurrencies, business development understanding, and marketing and sales understanding.