Launching your own ICO can at times be challenging, however, when you follow the standard procedure, the process can be smooth. In this article, I will provide a step by step procedure that can help you quickly launch and sustain a successful ICO.
Step One: Plan
It is critical to keep in mind that you are raising money to develop a platform that will positively disrupt the world. For instance, you could be working towards creating a platform for tracking the global supply chain of medicine that has an on-platform token, a literature sharing platform, etc. Regardless of what you are working towards, you have to do due diligence and ensure that your idea will sell to the target market.
Step Two: Anticipate
Perceive an idea that can potentially solve a challenge that is familiar with you. If you have an already operating business concern, it will be more advantageous.
Step Three: Organize
Gather a centralized team and reach out to individuals who can advise you accordingly. At this point, you are required to develop a detailed white paper and promotional website. In case you are unable to create a Smart Contract or cryptocurrency, you can hire an expert. For developers, creating a smart contract is quite easy. However, mistakes done can prove to be expensive in the long-run.
Step Four: Set Out to Work
At this point, you can do an investor outreach program, create a media hype or FOMO. Next, prepare and unveil your wallet. Consequently, distribute the tokens and list your cryptocurrency on multiple marketing platforms.
Apart from the detailed step for launching an ICO, there are essential aspects that must be taken into account during the process of launching. In this paper, I will identify five fundamental factors to consider.
A detailed Whitepaper will explain what your idea is, how to build it, and describes the details of how and why it can change the world. The Whitepaper could range anywhere between 8-100 pages in length. A good tip is hiring a freelancer who can convert your Whitepaper into multiple languages.
A beautifully designed Marketing website is important; the platform should be simple but contain important sections such as your background, objective and a listing of important members. It is also preferable to include essential links to the Linked In and Twitter profiles of each advisor. Consequently, distribute your coins and offering. You can follow a basic structure of 50% public offer, 25% kept for the team of advisors, and the remaining 25% kept for the future.
Besides, adequate funds and time will also play an integral role in reaching out to investors, the media and sending email invites.
Outsourcing a Smart Contract or Token Development Company
Outsource a company to create your Smart Contract or tokens. Select an organization that understands the procedure and existing regulations
Hosting other servers can help raise funds and distribute tokens. These monies can be used as initial funds to purchase your coins. Once you launch the coins, you can buy 50% of them. The initial purchase sets the starting price of your cryptocurrency.