3 key post ICO success factors for entrepreneurs
According to a recent Boston College study, less than 50% of ICOs are still operational after the first four months following their token sale. People are so focused on the fundraising side of the phenomenon that they forget to address the most essential matter: what are the key success factors post-ICO? This question should be crucial for every investor or entrepreneur who intends to devote coins & time to a project. Here are our 3 tips to deliver a product or a service successfully post-ICO.
Creating Favorable Conditions for Delivery
Poor execution or none whatsoever is the major risk entrepreneurs face post-ICO. How can they deliver their project on time and as intended? The answer is usually a mix between the state of progress and the level of trust you place in your team.
At the fundraising stage, the project should already have proven its feasibility with the main features tested, while not being so advanced that the product is still able to spark valuable feedback from investors and potential consumers. Additionally, the vision and skills of the core team must be strong enough to guide the whole group into accomplishing and overcoming any hardships that may occur during the execution phase. Human resource stability at the C-level is also another crucial factor.
At Blockchain.io, we have the expertise of the team behind Paymium - the first EUR/BTC exchange marketplace in Europe – to lead us. They have already delivered an alpha version of Blockchain.io’s platform and started taking input from...
Launching “LGO Launch”
Legolas Exchange (LGO), a new cryptocurrency exchange that ICO-ed in February 2018, reached its hard cap in just a few hours. It says that it is “delighted” with the unexpected sequel, that it has continued to receive “inquiries from different entrepreneurs involved in the blockchain space from all around the world” seeking help with their own tokens.
Accordingly, LGO has announced the creation of a new agency within the LGO Group that will be specifically devoted to ambassadorial/advisory work, aimed at providing “enterprise-grade token generation services,” and known as LGO Launch.
Since the LGO brand will be involved, LGO Launch is going to be particular about the clients it takes on. The article in Medium that explains the creation of this new agency is largely devoted to outlining what blockchain entrepreneurs have to present to LGO to be deemed suitable for this assistance.
“In essence,” the article says, “we approach our potential clients the very same way in which investors would approach them. We ask the same questions that potential investors would ask, and evaluate their responses using similar methods.”