At a certain stage of the business development, the businesses need to raise capital from external storage. Because blockchains fundraising is still a new concept, a lot of businesses find it challenging to start to fundraise blockchain capital. Therefore our article today will give you the guide to get started with blockchain fundraising step-by-step to help you have a successful plan for fundraising.
Get Started With Blockchain Fundraising
Reinforce The Needs For Funds Of Your Business
First and foremost, You need to recheck whether your company is suitable for ICO or not and whether ICO is essential for your fundraising projects. Due to some incompatibility, some businesses may encounter inconsistency when calling for ICO capital. Therefore, the business runners need to pay attention to the needs of blockchain fundraising, business model and strategies before getting started.
Form A Team
Next, we need to create a team that contributes to planning and developing blockchain fundraising projects. You can hire freelance developers to form a team or hire a team from a blockchain service company to conduct the projects. Moreover, if you still have a few ideas for blockchain fundraising, you can hire an adviser or get advice from SmartOSC during the process.
Review Government Regulations
Doing business on a multi-national scope needs careful attention to governmental issues. While blockchain and coins have been widespread nowadays, some countries have serious strict regulations on coins and cryptocurrencies such as China. Taking governmental issues into consideration will lubricate your process and avoid unexpected external factors.
Make An Detailed Plan
Every project needs a thorough plan and timeline to be conducted smoothly and effectively. At first, you need to make a roadmap to help the investors have a better understanding of your project as well as imagine what you will do in this process. This is fundamental for investors to evaluate and give their opinions on your project.
Next, you need to write and release the white paper, which includes the purposes, goals and main content of the projects. It is considered a detailed document for you to give necessary information to investors and encourage them to participate in this project.
Establish Online Website
You need to think about how to promote your blockchain fundraising projects and attract potential investors. We suggest that you can build an online website for promoting purposes. On your website, don’t forget to add ICO listings and general information about projects to impress the investors at a glance. Also, you may need to promote your website in the investor’s network or forum to catch their attention.
Select Sale Model And Release Smart Contract
One of the most effective approaches to launch your ICO is to presale or private sale initially and then make ICO available to the public. If you want to deploy smart contracts effectively and smoothly, it would be better to build your project on the Ethereum platform. Moreover, you need to hire developers to audit the smart contract to avoid mistakes and frauds thereafter.
Launch Your Project
If all the steps above are done and there aren’t any problems happened, you can start to launch the project. However, it is not the final step as you need to keep an eye on the fundraising process to ensure you will reach the goals.
For beginners, blockchain fundraising is considered challenging and difficult. After reading this article, we hope you can draw a demo picture of your projects. However, if you still need some support, don’t hesitate to contact SmartOSC to get helpful solutions.
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