5 Ways To Benefit From Your ICO Advisors
These days ICO Advisors are, along with a Whitepaper and a Roadmap, a mandatory must-have for every new project. It is commonly assumed that they ensure the credibility of an ICO. But Advisors’ area of responsibility goes beyond providing a picture and a bio for the project’s website. Advisors can assist you in many ways, and here are 5 of them.
►An Advisor Can Vet Your Idea
Likely you want to recruit industry experts with an in-depth knowledge of doing business. Ask them to evaluate your product or service, as well as your reasons for launching an ICO and creating a token.
►An Advisor Can Ensure Legal Compliance
Let’s not delude ourselves into thinking that ICOs are exempt from the law. You should be extra careful with legal issues and determined to be compliant to avoid unintentionally committing any offenses. A skilled Advisor can be quite helpful to cover your back. Ask him to advise you on choosing the right jurisdiction and corporate formation, as well as complying with applicable AML and KYC laws.
►An Advisor Can Introduce You To Institutional Investors
Institutional investors and venture funds are now increasingly looking at ICOs as the returns they have generated are very difficult to ignore. However, VCs are highly selective when it comes to supporting an ICO or a startup. A well-known Advisor with a good reputation can help you to look credible in the eyes of VC decision makers. Moreover, an Advisor can have the connections in the world of institutional investors, which makes it even easier to get the funding you desire.
►An Advisor Can Help You Out With A Financial Plan
Once you get your first money from investors, it’s crucial to spend them wisely. Many ICOs fail to deliver their product or service even after reaching the funding goals. They spend the money on the wrong things instead of sticking to a viable financial plan. If your Advisor is proficient in budgeting, don’t hesitate to use his skills for the benefit of your project.
►An Advisor Can Assist You With A Go-To-Market Strategy
A decent marketing strategy is essential for an ICO since the market is flooded with projects seeking investment. In order to stand out from the crowd, you should develop a step-by-step plan of asserting yourself and making your project noticed. An experienced advisor can be of a great help when it comes to creating a PR and marketing strategy.
ICO Advisors come in an array of different skills and capacities. Ensure that your Advisors understand what is expected of them, and lend more than their names to your project. Recruit only those who bring real value, can make an impact and truly believe in your project. Then feel free to take advantage of their potential, and your collaboration will be mutually beneficial.http://ptoken.io
When it comes to community management, many ICO founders don’t go further than creating accounts on Telegram, Bitcointalk, Twitter, and Facebook to post news every now and then.