“My idea is the best of the best. It will fund itself!” -every start-up ever
There are many roads you can take in order to stir up attention and get people interested in your idea. Not having a “Minimum Viable Product” is not one of them. Of course you could rely on Crowdfunding a naked idea if you know how to sweet talk people into throwing money at you, but what about the high volume investors? Will you offer the first VC that gives you a second glance an unjustifiable equity?
What Startups and ICOs must first consider before popping open the champagne bottle:
Is there enough time and manpower to make my project stand out from day one?
You could have an amazing marketing strategy and an outstanding public relations team, but all the brand recognition in the world cannot help you with the credibility of your first investor pitch.
No matter how beautiful and new your idea is, Investors are searching for tangible potentials.
Are there user incentives for your idea?
You will need to raise a fundamental first user crowd of your product if you want to build market pressure. Develop a Minimal Viable Product before anything else. Not only is it the deciding factor of a successful funding but it also shows determination towards investors.
Do you have the right outreach strategy?
Willy Wonka had the right idea. Give people your «golden tickets», and make sure the world knows who has them.
Give people a reason to talk about your project. Share your idea with in a target audience before you consider branching out into a wider range.
If building trust is not your goal, you will not recieve the funds you require. The only way to start growing investor confidence is to start making your idea a reality, at the minimal level of development.