Let’s make this simple: to succeed in any business you need capital. However, securing capital and dealing with the banks can often look like an uphill battle. That’s why many businesses today decide to start an ICO, STO, or even IEO. Statistics tells us that these forms of fundraising can do well. For example:
- Last year, ICOs managed to raise $7,812,150,041
- Nexo was able to raise $52,500,000 through an STO
- IEOs have raised more money than ICOs in 2019
Yes, these numbers sound impressive and show us that these forms of fundraising can bring great amounts of money. So, if you want to start ICO, STO, or IEO, but are not quite sure where to start, we’re here to guide you through what exactly you need. Let’s get started.
Come up with an idea
What type of project do you want to start? What kind of services do you plan to offer? Does your idea offer a solution to a concrete problem? Make sure you have answers to all of these questions before you go to the next step. And don’t forget to do a thorough research of a crypto market and your target audience.
Gather a reliable team
Behind every successful company is a strong team behind it. Your team should include experts in your target niche, people you can trust, and advisors. The team should be committed to the project and willing to lead an ICO/STO/IEO to success.
Write the white paper
The white paper is crucial when you start an ICO/STO/IEO. The white paper should explain your project’s purpose and answer questions a potential investor may have. And don’t forget to read our tips on how to write a high-quality white paper.
Decide on your fundraising strategy
Now is the perfect time to pick your fundraising strategy. Do you want to conduct an ICO, STO, or IEO? Each of them has advantages and disadvantages, and it’s up to you to decide what works best for your business.
Create a marketing plan
In any business, marketing is king. So, when you start an ICO/STO/IEO, don’t forget about this crucial step. There are numerous marketing strategies you can use to spread the word about your project. Some of them are:
- Being active on relevant forums and social media
- Placing ads on Facebook and Google
- Airdrop and bounty programs
- Running an active blog and posting regular updates
- Attending events and conferences
And the list could go on and on.
Find the right advisors
Yes, I know, it’s difficult to find advisors that believe in your project, but that doesn’t mean it’s impossible. Advisors usually have relevant experience, and they’re influencers in the industry.
Execute
Finally, the moment of truth. Now it’s your turn to put these words into action. Roll up your sleeves and get to work.
Wrapping-up
The number of businesses that are using ICO/STO/IEO for fundraising is booming. To start an ICO/STO/IEO will take a lot of work and commitment. I hope that this guide was helpful. In case you have doubts and questions, or you need an advisor for your project, feel free to contact us. We’re always in the mood to talk.
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