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Planning an ICO? Don't Overlook These Key Preps

26 Apr 2019   #Ethereum

Initial Coin Offerings are fantastic ways for any business – be it a microbusiness or a full on tech startup to raise money. They exchange their tokens for bitcoin or ether and off you go. The fact that it's all done online and doesn't require much physical coordination does not mean it is an easy task. There are numerous details that can be overlooked by overzealous companies in search of quick and easy financing. So you really need to take the following considerations to mind when looking to launch your own Initial Coin Offering.

Right Time, Right Results

Smaller businesses going through a rough patch or looking to expand don't have the best history of planning ahead. This is why going to a bank or another financial institution at the time when money is needed most is bad as it does not give you any leeway with negotiations.

That is where an ICO is much better. If you're in a pinch and you need cash, an ICO is the best option many businesses have. You present your options to many more investors, as it is the public at large. If red tape and regulations are burdening you down when money is tight or expansion opportunities are falling by the wayside before you can act... then an ICO is the right financial vehicle for you. The time is right for an ICO when you need it to be, not when someone else says "maybe".

Is an ICO just an elaborate crowdfunding campaign?

Some would say yes, others no. Both systems are public funding methods and both systems have a lot of similarities - the key difference is in how they are executed.

ICOs give a real digital asset for your money. You bet on that asset increasing in value. ICOs are more like stocks than crowdfunding. Crowdfunding is better compared to buying a product that you know you will like but isn't available yet. You are paying for a product that has yet to be released.

The distinctions are small, but they are important to note. It is the small details that separate online ideas from being great, good, or terrible.

Choose Token Supply very carefully

When preparing an ICO, you need to know what your supply of tokens is going to be. Most businesses tend to pre-value their tokens because they know how much money they will reasonably need. It's also important to note that the supply generally cant be changed so careful planning is absolutely crucial before your token goes live.

ICO Lists: The Marketing Emails of the ICO world

Once you have everything more or less set up, you can go and start finding people to buy your coins. The more people you reach, the better your chances of getting the right amount of money for your product.

One of the most effective ways of going about this is joining an ICO list. If your token is getting traction and more and more analysts are looking at it then they will, themselves, put it on ICO lists of their own. Existing lists are an important way for many investors to separate the wheat from the chaff and are used extensively by people who are looking to invest.

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