How to build an ICO team
Many hands make light work, and you will need a team behind you to launch a successful ICO. Let’s have a look at some of the aspects of building an ICO team you should pay attention to.
What not to do
There are a lot of bad ICOs out there, and they make a lot of mistakes. That’s bad news for them, but good news for you — because you can learn from their mistakes.
Here are some red flags for investors:
- Having a team with no track record
- Not showing any information about the team
- Lying about who is on the team
- Making up fake people and fake track records
- Having a large and frequent turnover of team members
Don’t make these mistakes, because investors will run away screaming. If you want investors to trust you with their money, they first need to trust you.
What to do instead
Your website and marketing collateral should include as much information about your ICO team as possible. The information should include, but not be limited to the following:
- Social media links (particularly LinkedIn)
- Examples of previous work
The more information you can provide, the more investors will trust you. They put their money at stake, but they know that the personal reputation of you and your team is too.
Who do you need on your ICO team?
Who you need on your ICO team will largely depend on the nature of your business. However, there are a few key roles that are essential to the majority of ICOs.
- CEO/founder to manage the whole ICO
- CTO/founder to come up with the ideas
- CFO to manage the finances
- COO to manage daily operations
- Developers to write the code
- Quality assurance to test the code
- Designers to make everything look nice
- Marketers to handle PR, social media, email campaigns, etc.
- Advisers to guide the project with their experience
Having qualified and competent people in all these roles will be a large part of your success. An ICO is essentially a startup business, and it’s only as good as the people who work for it.
Where do you find an ICO team?
The million dollar question is where you find people to join your team. This can be a challenge if you’re not already part of the crypto-community. Fortunately, there’s the Internet. You could try contacting people directly on LinkedIn, or you could post a job ad on Upwork and find expert freelancers.
Here is a list of forums and websites where you can find potential ICO team members:
- Bitcoin Forum
- ICO Bench
- ICO Drops
- ICO Now
- ICO Ranker
- ICO Rating
- ICO Tracker
- List ICO
- Token Market
Join different conversations and find out who does what. As you get to know people, you will begin to discover some great candidates for your ICO team.
How do you find an advisory board?
Advisers are people with an excellent track record and useful experience you can benefit from. The advisory board is an external group of entrepreneurs, experts, influencers, and other people who can help steer your ICO in the right direction.
Finding them works in much the same way as finding the core team. Some people you try to recruit for the team might end up offering to be advisers instead. You should try to woo as many influential and experienced people with your ICO idea as possible.
A good advisory board will work wonders for your strategy, operations and marketing.