Post
Topic
Board Project Development
Re: I have an idea, now what?
by
KennyPowers
on 06/03/2018, 09:55:52 UTC
There are many different aspects to cover when launching a project. First, you'll want to check what other ICOs/projects are doing. If you don't have basics of project management, you'll want to study that a little to at least get the general concept.
IMHO you can divide the work to be done in three sections:
Development
Marketing
Legal

1) Development - start off with a concept of a whitepaper, keep it to yourself but having things written down will clear your own thoughts on what is to be done and about what you need to think about.
Check out other whitepapers to get a feel what others are doing and what are they covering, you'll also get some ideas from them. If you don't understand the programming part you'll probably need someone to do it, but writing what your program needs to do is the input for the programming part (e.g. google "flow chart"). This way you can start having something to further think about. Also you can start discovering platforms where you can build your thing, because developing a blockchain is maybe a little too optimistic. Platform examples are ETH, EOS, ADA, XLM, NEO as top 20, and many others like ARK, NEBLIO..
Also, you'll need to separate what you can and can't do in the near future and you'll need to pick a moment when you want your idea to launch. Some ICOs don't have a product (or even a prototype) and some have. In both cases there is success, but you'll need to find that fine line by doing some research and applying methods similar successful projects do (in terms of how you'll handle things at the stage you're at)

2) Marketing - Having an excellent idea or even a product is only half way of having success in this market. Since you're not a company made of "all-stars" (e.g. dude from MIT, worked at Google etc.) and you probably don't have all the connections and resources those type of people & institutions have, you'll need to find a way to attract the community differently. Having a constant interaction with the community is a proven method of keeping the faith of your potential investors (one example I can think of is Stealthcoin, which has basically 1 "unknown" developer, but his constant work and interaction through e.g. discord, slack is enough to keep investors in believeing/staying with the project. There are other methods also, research and find one that suits you.

3) Legal - I don't know much about this, maybe someone else will comment. Because of the unclear regulatory future of the crypto industry nowadays it is common for ICO starters to state that they don't have any responsibility about basically anything (example is EOS). However, being legally covered/obligated puts more trust in the investors.

I'm open for further discussion and I hope I helped your cause a little. Good luck!