So, you’ve done all the “hard work”. Written your whitepaper, promoted the project from Tel Aviv to Timbuktu till you were literally knocked off you feet. It was all worth it though because you hit somewhere in the middle of your capital target. A bunch of money = SUCCESS……right? – WRONG.
Indeed, reaching your capital target it a hard feat in itself and something for which you should feel proud. Most ICOs do not even reach that point. There are many other keys to success you need to put in place though. Here are a few which can make the world of difference to your success story.
A Committed Team
Committed, knowledgeable, and well balanced. You may have the best conceptual idea the market has ever seen, you may also have developed and MVP, the early stages of a platform, or other form of prototype. This is fantastic and your team may well be the Harlem Globetrotters of engineering, finance, marketing, or any particular area.
No player is bigger than the team though, so what you really need is balance. Balance of knowledge, power, and above all, commitment. Make sure that the skillset of the entire team is well balanced to meet the post ICO challenges of regulation, legalities, and the next steps in the development process.
This may seem like a ridiculous point. If you have already set about your ICO, surely you have a vision. Unfortunately this is not the case. Many project fail to truly look beyond the initial stage. They adopt a “cross that bridge when we get there” attitude. This is still the case even when they have developed what looks to be a comprehensive roadmap. It is often easier to think of ideas than act.
Combined with this lack of planning in detail is the fact that most ICO teams have never had access to as much finance as they suddenly have in the post-ICO stage. Alas, like many a punch-drunk boxer, they simply don’t know how to deal with it. This is why it is of vital importance to adopt your vision team wide and ensure to stick by it.
A one-stop-shop for avoiding most of the issues above is to partner up with experts. There are many options available in the current market to join incubator projects and team up with companies who will help you launch your ICO from A-Z.
The importance of such a partnership could be the difference between life and death of your project. You still have the key say in how things are run, but all of the unpleasant elements are taken care of. In many cases, the difference between success and failure can be just a little helping hand. This is a helping hand which such partners can often provide.