You already know the blockchain world moves fast. Really fast.
Given the pace of new developments in the space, you have to be prepared for the possibility of unforeseen obstacles that can result in unexpected delays.
If you tell your customers and investors to expect a certain feature from your project to be rolled out by X-Y-Z date, and you fail to deliver, your reputation gets battered and bruised.
On the other hand, if you give a reasonable timeframe, say “between X month and Y month,” or “at some point within quarter Z,” you give yourself a lot more leeway for mistakes. Your supporters will more readily forgive you if something goes wrong.
There are two simple steps you can take to ensure you don’t get stuck inside yesterday’s already-been-confirmed block:
1. Have someone on top of things at all times (i.e. breaking developments in news, tech, and finance), and
2. Be prepared to improvise when it comes to fundraising
Let’s break these down further.
>> Staying on Top of Developments in the Space
What does it mean to have someone on top of things constantly? Basically, someone has to have their ear to social media on a daily (or even hourly) basis.
In today’s world, the biggest stories don’t get big until they’ve been liked, shared, and retweeted many times over.
By keeping an eye on the channels/pages/feeds of the biggest influencers in your niche, you can be aware of trends before they become trendy.
Speaking of trendy, what’s the latest way to raise funds for a blockchain project?
>> IEOs: The Latest Craze in Blockchain Funding
2017 and 2018 were infamous for the ICO craze.
Unfortunately, a variety of ICOs proved to be outright scams. As a result, regulators have clamped down on them, yet have still predominantly failed to issue clear guidance, as usual.
In 2019, there’s an increasing trend toward what’s known as an initial exchange offering (IEO).
Instead of initial coin offerings, whereby companies issue tokens on their own, IEOs involve having an exchange promote and distribute the tokens. This more closely resembles the structure of an initial public offering on a stock exchange.
IEOs have proven even more successful than ICOs were — some companies have raised millions in a matter of seconds.
Play your cards right, and your company might just be able to do the same.
Based in Los Angeles, Joe is the Director of PR & Marketing for BlockGroup.