The Steps To Keep In Mind Before Commencing An ICO

ICO (Initial Coin Offering) is one of the well-known and tested methods used by startups to raise funds quickly. It offers valuable tokens to investors in exchange for cryptocurrency. 

Some factors to follow while launching an ICO are 

• Make sure that the business idea is suitable for ICO - Undertake a deep study of the target market. Project your offerings better than your competitors. Try to attract a global audience to increase the scope of your project. Ensure that the product ensures decentralization by allowing multiple parties to get access. Communicate effectively to gather a high demand for your tokens. 
• Curate a professional whitepaper -  It is a technical document that discloses the project’s vision, distribution strategy for tokens, benefits to investors and legal implications. Make sure that the background of the team members involved in the project is made transparent. Mention related market statistics and the different stages involved in project development. 
• Develop a well-rounded team - Hire professionals who are well-versed in different areas such as software development, marketing, accounting and law. Check their relevant experience in completing different kinds of ICO projects. An experienced team with notable achievements can attract reputed investors for the project. 
• Consult legal experts -  Before officially launching the token, get the opinion of legal experts who know the regulations imposed in different markets. Follow the right procedure to sell your tokens. 
• Create a website -  Develop a website disclosing all the details of your project. Make sure that it is SEO-friendly and is protected against threats of hacking and DDoS. Have separate sections for the whitepaper, token sale structure and information about team members. Include a roadmap for product development. Display multi-media content in the form of attractive photos, demo video and some infographics. Include your contact details to clarify any queries raised by the audience. 
• Kickstart marketing practices -  To get trust from investors, utilize tools such as paid advertising, public relations, email marketing, social media marketing and participate in discussions through well-known forums such as Bitcointalk. Monitor communication with investors and other stakeholders on a real-time basis. 

           Follow all the above steps with due diligence for launching your ICO successfully in the market.