Making an initial coin offer (ICO) requires a lot more than just having a massive project and an appealing website. At the moment, there are many ICOs coming up almost every week hence enhancing competition in the market. In that case, you need to identify a way in which to tell the world your uniqueness. Why do you think that you are offering something better and different from the rest? To answer this, every blockchain startup team needs the best of advisors for their ICO.

Initial Coin Offering - ICO

Importance OF Having ICO Advisors

An ICO is a somewhat new tool used for fundraising but there are quite a number of dos that are already established for people to follow. It all starts with drafting a white paper that describes your new-found project, the market opportunity it’s based on, the technology behind it and the team at large. On top of that, you need advisors to work with.

These advisors needed for ICO projects are professionals in blockchain and crypto-currency industry. They are well-known in the society due to the experience that has earned them a huge follower base. Their opinion counts a lot within the community. When such a person has interest in a project and recommends it to others, the number of people buying tokens for the project will definitely increase. That is the way it works. Additionally, these advisors can take on what they are required to and that is in providing you with the advice you need to establish your project. Ultimately, this makes your project a lot better.

What Kind of Advisor Do You Need?

Get to know the kind of ICO advisor you need for your project. Not every advisor out there is fit for it even if they are in the crypto niche. Think about this before contacting advisors to stand a good chance of finding the ideal advisor for your project. You definitely want to bring on board a strong professional, who can offer useful recommendations, one with a good reputation and have already established a network of contacts with contacts that could benefit you.

At the same time, you probably don’t want to engage someone who has already become an advisor to a project in the past especially one whose teams provides them with cash for every recommendation made without having a direct interest in the product or are not helping with ways to improve it. You should keep off these kinds of advisors. People in the crypto industry are very alert and they will get to know should you choose someone advising more than 100 projects out there. This will easily be understood as cheap PR. In that case, it will end up being a red flag for ICO prospects instead of boosting your project.

Be keen on who you want to engage as an advisor. Any proposals of promotions for cash rather than tokens on the project should be turned down. Your objective should be to look for partners with an interest in growing your project and making sure that it prospers and not going after quick cash without putting in some effort.

ICO advisor consulting

Contacting Advisors and What to Offer

Once you have made a decision on the kind of ICO advisors to look for and have established a Google sheet of the same, get in touch with them. The best choice here is to link up with them at the conference. However, this may cost a fortune for you because you are just getting started with everything especially when you want to get more than one advisor. In that case, you can make use of online communication to get what you need without extra expenses.

LinkedIn is one such place to find the advisors you are looking for. Write an email to them. You will be amazed at the rate at which they will respond. If you want to increase your pitch conversion, it is important to use the right text. Make sure that it is not long. The most important thing is to mention the main advantages of what you are doing and provide a clear outline of the terms of engagement and your expectations as well.

Finding an advisor for your ICO is vital in determining the far you will go with your project. Your primary objective is to look for someone who will partner with you in advancing the cause for your project and not help you make quick cash. Their interest should be on the project and not pay them for promotions.