June 8th, 2018

Who can be the best advisors for ICOs? 

Who can be the best advisors for ICOs? 

June 8th, 2018

Definitely, one of the must haves for a good ICO is a team of professional advisors.

Despite the recent ups and downs along with some sceptic opinions in public, ICOs are still a thing. Interesting and innovative projects, a chance to profit in a relatively short period, no fear of missing out when it comes to daily conversations – pretty much great reasons to get involved in all this crypto mania. Even the biggest global players, seen as role models by many entrepreneurs, are seduced by the opportunity to gain more reach and money. Definitely, one of the must haves for a good ICO is a team of professional advisors. Different projects choose different people from superstars of industries to ordinary people who are less visible, but some general ideas are worth considering and applying to the upcoming projects while selecting.

1.Gurus of communications

Most people tend to underrate the importance of communication aspect in business, and this trend is seriously concerning as well as potentially leading to failures. Regarding such a fresh sector, as crypto projects, it is normal that many people do not understand the purposes and concepts behind it. As a consequence, particular stereotypes are rising with the chance to damage the reputation and public opinion.

A person with the strong background in communications (and crisis management in particular) is a genuine gift to any team. Their ability to attract masses by words and expressions is crucial when it comes to the success of projects. Also, the already mentioned crisis management is quite common in newly formed businesses which are trying to successfully spread the original idea along with attracting customers. Even the tiniest issues with customers may decrease the level of reliability; therefore, it is important to have a representative with strong organizational and problem-solving skills. In addition, they must be expressed charmingly and make people believe in the development and good intentions. An excellent communicator is exactly the figure within the team who should be responsible for that.

2.Numerical minds

ICOs are all about the numbers, obviously. Starting with the organization of quantitative structure in projects and finishing with the explanation of it in public, strong numerical skills or background are essential. Even though some of the organizers of ICOs do not have these particular features, such a flaw in the industry can be easily fixed with the help of appropriately selected advisors for the project.

In addition, numbers in ICO are not limited to the ability to count profits and losses. The approach connecting numbers with computing abilities is necessary as well. Therefore, this category can be divided into two separate parts, namely entrepreneurs and operators. In other words, the former ones should be responsible for advising on the issues arising in the field of business and finance. Meanwhile, the function of the latter ones is to supervise the system of Blockchain in the context of projects. Exactly the contribution to efficient programming and structure of the project is the main part of this supervision, because it is a necessity for a successful ICO project. All in all, the skills in numbers are pretty diverse and possible to apply for many spheres in ICOs – a few well-educated advisors are a necessity rather than a simply large advantage.

3.Experts of bureaucracy

It sounds a bit boring, right? Not at all – ICOs are infamous of problems with governmental institutions and legal bodies. In most cases, they have occurred due to a number of loopholes in their legal background which used to be weakly regulated. After the introduction of numerous changes in laws restricting the absolute freedom in activities of crypto entrepreneurs globally, the legal part is a crucial determinant of the success of all ICOs.

As a result, people who have the amount of experience and knowledge in bureaucratic and legal affairs should really find their place in teams of emerging ICO projects. Their insights and help are invaluable, because the reputation of ICO can be strongly advanced then. The long and dull legal parts are in every whitepaper of reliable projects – even though they are not attractive, the proper framework of financial safety should be set at all costs.

4.Quick learners

Last, but not the least, soft skills should be discussed. The ability to grasp things quickly is a pretty universal and desirable feature in the job market, and it could be applied to nearly all industries. However, when it comes to ICOs, this one is especially important. Similarly as in case of excellent communicators, every team requires quick learners because of their adaptability and passion for challenges. Needless to say, the crypto industry is quite young and changing in an especially fast way. Therefore, there is significant importance of having an advising figure who would be ready to accept these processes and sort out the innovative approach (which may seem non-familiar at first).

Regarding the industries, is there any difference from where the advisor would come? Both yes and no. On one hand, the previous experience with quickly-growing sectors and innovations would be a definite advantage as it could serve as a proof that the advisor surely has an idea what to do in more difficult situation. However, one should argue that quick learning does not have a certain industry or area – the meaning of this trait indicates that the biggest plus is a desire to develop and learn. Shortly speaking, particular experiences do not limit the potential of quick learners to only a few sectors.

Definitely, the scope of ICO projects is especially wide. Therefore, the types of advisors and spheres where they can help are basically unlimited. However, it would right to assume that the passion mixed with the knowledge could provide a great advising team for any project.