Mentor for ICO: need or additional help in promotion?
When it comes to profitable implementation of the ICO, more and more people want to know what they need to do in order to promote the project and attract as much money as possible. This is one of the most common mistakes: concentrating on raising funds is not the best idea. It is much more important to make sure that the team has enough knowledge, experience and connections to successfully implement the plans and fulfill the promises.
The second mistake, which most often leads the company to failure, is excessive “independence.” We can do this ourselves, we do not need outside help, here we are going to rely only on our own strengths. It sounds very bold and inspiring, but do you really need that? Most of the young companies planning to launch the ICO are quite inexperienced teams with a crude idea that use not profitable channels to attract customers or partners. But having knowledge and good connections, it is quite possible to avoid many problems and build your strategy the most correctly. Resisting and refusing the necessary assistance, a young team, going to the ICO, only hurts itself.
ICO allows the project in a relatively short time to collect the amount necessary for the promotion. But further all the development falls on the shoulders of the team, which often don’t have enough experience for competent implementation. But mentors can come to the rescue here. They should be involved in the project already in preparation for the ICO. What is the benefit of the mentors, we will consider now.
First of all, an experienced mentor can take a fresh look at the business model of your project and give an advise on how to modify it properly. It also helps to establish the necessary connections and look for partners who will be useful to you. Implementing ICO, the team can have an infinite number of questions, the answers of which must be the most accurate and correct. The experienced mentor will allow you not to drown in the ocean of profile questions and problems, solving them quickly enough. Well, the last theme is reputation. By attracting a qualified mentor with an excellent reputation, the credibility of your project will grow, and the chances of successful implementation of the ICO and attracting the necessary investors will increase at times.
Mentors also help projects launching ICO to understand how the US market will react to this. Everybody knows that the United States legislation is very meticulous about the ICO procedure. An inexperienced team can simply drown in bans and get nothing from their product in the end. And the task of the mentor is to help you avoid this problem.
Why do experienced cryptology experts become mentors? There are two simple explanations. The first is, even if it is obvious, the financial component. The company pays a mentor for its services a fixed amount, and a percentage of the raised funds. The more experienced and known your mentor, the more numbers will be on his check. The second is the potential participation in the subsequent rounds of your project.
When you choose a mentor for your project, you need to take into account a lot of different points. One of the main is the similarity of work areas. If your project and mentor belong to different spheres, you are very at risk. First of all, it is the loss of time, but the most unpleasant is the loss of money and the failure of your ICO project in the end.
Communication is the most important in this case. It will allow you to discuss everything with a potential mentor and understand how you fit each other. On this basis you can attract the necessary specialist who will help to realize your project qualitatively and will be able to give high-quality advice in solving complex problems.
There are an indescribable number experienced mentors in the market now. Choosing the one who is right for you, this is not the easiest task for a number of reasons, described above. But the realization of your startup without mentoring can not be successful. And what to do if you don’t have a lot of money, but a quality view from the outside is very necessary? You can pay attention to closed venture clubs, where mentoring is already provided. For example, take the fund Hypercube Ventures, which gives prospective start-ups the opportunity to get on their feet and attract good money for their implementation. Hypercube has a team of experienced mentors and experts who are ready to provide mentoring and give useful advice to projects that need it. This is an excellent chance for a startup to be prepared for entering the market, with a couple of trump cards in its sleeve and the necessary knowledge.
There was one unresolved issue. Is the mentor needed for realisation of the project? There was one unresolved issue. Is the mentor needed to implement the project? The answer is obvious: absolutely necessary. This is not not a weakness — to trust experienced hands and a qualified view from the outside. To accept the mentor’s help is an effective way to rid your team of many headaches and strengthen your strategy and product as a whole.