Guide to an STO: How Long Will It Take To Raise Funds?
The answer will be the 'ASAP'.
It is no surprise since the need for funding. Indeed, there is no need to make it anyway.
The timing of the competition, especially for innovative projects, since the competitors are always around, ready for the turf war. That’s why we’ve got the timing questions. It’s timeline for your project.
What Has An Impact On The STO Timeline
Technically, creating a token and launching a token sale takes mere hours. However, it is more than a straightforward sale procedure. Here are some essential steps that you should take.
1. Doing a Market Research. There is a similar offer, or product, or concept out there. What is more, not every groundbreaking idea makes the best selling product. To make sure your efforts are not carried out, undertake a careful study of the current market situation.
2. Putting Together a Team. The people behind the project Ensure that you have all of your talents in your team, and Also, don't forget about the advisory board. Negotiations with advisors can be time-consuming.
3. Selecting a Type of Asset to Tokenize . You can choose from a variety of options, including debt tokens, equity tokens, and more. Take time to consider what your work is.
4. Sorting Out Legal Issues. STO is a solution of choice for many enterprises. It also takes it a bit.
5. Configuring Your Token sale. How will the contributors undergo KYC / AML procedures? What will be your Hard Cap / Soft Cap? Will you set a maximum percentage ownership per user? Will there be a token lock-up period? This also includes all the other tech work.
6. Creating the Basics. Making a website, a whitepaper, a one-pager, a promo kit, a blog, social media accounts, etc.
7. Outlining a Marketing Strategy. You need to have a full-fledged marketing strategy. Be sure to include collaboration with influencers, media coverage, social media management, bounty, road shows, etc. Your goal is to reach out to your audience in every possible way.
These 7 steps make up the key part of a pre-STO period. After you get everything done.
And what about exact time frames?
How long will a pre-STO take: a month, two months, a half a year? Or maybe it’s 2 weeks?
It’s all your goals, your fundraising goals, your project’s goals. The timing was also very different. However, there are some shortcuts you can help you reach your fundraising goals sooner. Use them wisely, and don't operate on your own. Seek professional assistance.
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