1) Firstly, you should decide why do you need it. What does it mean legally, technically, from a marketing standpoint, what does it mean for your project. If you want to do ICO just for the sake of attracting money — keep in mind that not all projects can get it. In addition, even if you attract money, your business does not end there.
2) If you do not have professional skills in marketing, legal and technical components of the ICO — you should work with specialists and prepare a budget. As the Americans say, “you need to spend money to potentially get it.” The era of “everything will do for postpay” ended in somewhere in April this year.
3) Decide for yourself the issue of converting crypto currency into fiat money. Now it is a huge problem both at the practical level and at the legal level. It’s very easy to break a lot of rules when converting and get problems, especially if you are planning to use this money in the US.
4) ICO — its take approximately three to five months of the most intense work of your entire team. It is not the best time doing ICO if you have a huge clients or deals.
5) Focus On defining and communicating who is working on the product, what are the project’s goals and what’s in it for the contributors.
The practice of many successful ICO campaigns shows that the team, the goals and the protection of investors’ interests are the three topics which tend to interest the audience the most. Due to that fact, they have to be clearly determined and articulated to the audience before the launch of an ICO.
6) Be sure to understand your strategy of entering the Chinese market. Make ICO without the Chinese market will be difficult. China is now one of the key regions for selling tokens. In China, a very large amount of crypto currency is focused. Chinese people by their nature like to play the lottery, gambling, online games. ICO for them is a certain element of the game. For larger investors, it is possible to diversify their crypto-currencies into tokens, and for others, the hope that the tokens can then be turned into live money in the West.
