Topic: Need Opinions And Feedback (Read 172 times)

summary you need a comment with your better, said for fast

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Go ahead and be successful! A couple of real businesses on the blockchain will vastly improve the field's reputation.

I think you're going to burn out focusing on too many concepts. Pick one.

LOL, ICO investors NEED to hear it as it's the truth! When it comes to traditional funding it might be less expensive initially, but they'll want your soul. I was VP of a venture capital firm, and while I could get funding from the company since I have a good relationship with the owner and understand how he thinks... they will tell you what to do and how to do things and you have to do it... even if it's wrong. Entire reason I left that industry. They're mostly old guys who don't understand the way the world works currently and insist on doing things the old way, or worse, cut corners trying to keep up in a world they no longer understand.

The other thing about DAO structured crypto companies, sure, holders of the coin/token have voting rights, but it's an illusion because the owner's vote still holds all the weight... which saying that outloud I realize is no different from stock companies.

I've decided to do the ICO, if for no other reason than to market the functioning businesses. That's the beauty of having a functioning service beforehand, 1. You don't need to raise as much money so you have a smaller soft cap. and 2. Even if it's "unsuccessful", more people now know about your business which generates more money anyway, so it's a win win.

I also decided to find more companies that have established businesses that will agree to accept IntraCoin as payment. Because it's great to get crypto as cashback, but what then? Granted it offers discounts on services at Indygoart, but what if you don't need any art? Which is the case for most people. So it's pretty worthless. So I have some ideas of people to reach out too. Going to start with friends of mine who already own businesses. If I could get at least 5 companies that agree that sell things the average household buys at least once per year before the ICO then I think we'll be ready for prime time.

Thanks for the talk my friend! I owe you some coins!

Yes, it was mostly whitepapers and some PR, so I'm not an ICO strategy consultant.
I know, however, that most but not all of our clients went on to have ICOs. The ones who didn't mostly realized that an ICO means more effort and requires more initial funds than they originally realized. In some cases, it turned out that the project was not sufficiently well-defined (there was no prototype or even a running business in those cases, obviously).

Among our clients, the ICOs that were successful - that reached soft cap and sometimes much more - meant considerable effort on the team's side. That means they practically travelled the world and worked 16 hours a day to promote their project. This should be taken into account when comparing ICOs to traditional funding methods. I don't have any experience in traditional capital raising, but it does not require you to tour the world for months, does it?

An advantage of ICOs versus traditional capital raising is (though ICO investors may not want to hear this) that ICO tokens don't confer legal rights to owners, in most cases. Meaning you have much more freedom and retain more of the company's value. That's something to take into consideration as well.

Awesome info thanks! I have a question, those companies you provided help to, I assume it was with Whitepapers? Did those companies go on to have ICOs'? I'm going to revamp my presentation of this project to highlight eGoods and IndyGoArt for now. I'll bring up the other businesses once the first two are well-oiled machines with good staff in place. It'll give the perception of progression as opposed to meeting deadlines. Which may (or may not) give a boost to the coin's value.

But here is my other dilemma... I don't know whether I should have an ICO or not. I don't think half of these companies are REALLY raising the money their counters say they do or even securing the private funding they say they secured. We have no proof of it, and with poorly coded crowdsales you can loop money raised to make it meet the soft cap. So I'm not sure how successful my ICO would be in terms of raising money.... while I have a contingency plan for that, I don't want to waste time. Furthermore, if I do have an ICO, we all know the drill once the coin is listed... it tanks in value due to people selling off... I just don't want people to lose out like that.

If I don't have one, I can establish value by purchasing assets and then get listed on exchanges. This way I can establish a strong price for each coin and investors SHOULDN'T have to worry about value tanking from sell-offs. I still plan to have a bounty program but it will have strict regulations where participants won't begin to receive their coins until 30 days AFTER the coin is listed on an exchange. Once tokens start to be dispersed, they'll be dispersed in phases, so everyone doesn't get them at the same time. This is the best way to maintain value and prevent FUD.

What's your opinion on ICO vs no ICO? Having no ICO I obviously may not raise as much money, but then again... I MIGHT! Since all the tokens listed would have to be sold to the market by me. I can raise money that way. Seems more fair this way but risky for me.

Indeed - I think investors in the blockchain space have seen too many grandiose concepts over the last few years, and too little implementation. So, even though you seem like a competent and reasonable entrepreneur to me (though I could be wrong ), you might be better off if you create the impression that your ventures are managed by an equally competent team instead of just yourself.
And absolutely do stress the existence and the success of the businesses that are already up and running in any whitepaper or presentation! This will set you apart from the competition.

You're welcome! For the sake of transparency, you should know that my answers are based on second-hand experience and projects done for our clients; I have never acquired funding myself.

Good points. What I didn't mention was I've done all of these businesses before. I'm just taking old experience and blending it with Crypto. You do make very valid points as with most people this would be an extreme challenge. People have asked how I was able to get relationships with Walmart, etc. so quickly and it's because I've had a relationship with them for over 10 years. But eGoods is something I could run myself. I will eventually need an employee or two to manage the rebates as the site becomes more popular.

As for Indygoart. I'm playing an advisory role in that. Jason and James have been in the production business for over a decade individually. It's about 25 years' experience there between them both. Both want to focus more on management and education now so it made sense to partner all up and build one business. So that one won't require a lot of time, and it'll be easier as they already have clientele. So it's more of a merging of two successful businesses.

As for Hamrick Hotels, the act of running an AirBnB type of hotel will be new, but the real estate acquisition and renovations is not new to me at all and something I enjoy. But I plan to spend 2-3 years perfecting this business. Then I will move on to Sourcing Motors...

Sourcing Motors won't be anything new as I used to be an auto broker for a few years. The new aspect will be the rentals, but I planned on leveraging Turo to ease my way into that. Once I got the hang of that, I'd apply IntraCoin payments and discounts with that business.

Last is the Co-working spaces. Totally new, which is why it's dead last.

Overall this is like an 8-10 year plan more or less. I have vast experience in most cases, but I'm giving myself room for the areas I have no experience in. Also, I have managed employees before.... that can hold up the process as well. In many cases, employees don't share your vision, they just want to be paid. So that takes time injecting the right kind of employees.

Me mentioning all of the companies is more like giving everyone a long-term roadmap of the entire Enterprise I'm building. eGoods is phase 1 and will get all the focus initially. Indygoart doesn't need much of my hands in it. I just structured it for them.

Do you think I would do better just marketing eGoods for now? From my perspective I don't see it as being ambitious FOR ME. But everyone doesn't know me and my experience so I have to take that into consideration. I wouldn't invest in someone that seemed to be spreading themselves too thin; and while I know I'm not doing that, advertising all of this could come off that way.

Thanks for the responses, this has been the most help I've gotten!

No, I've understood that you are not starting all of them from scratch. Still, I have found it quite a challenge to start two businesses spaced one year apart, so your plan still seems quite ambitious. YMMV.

I'll go back and edit my post to mention at the beginning, that egoods and indygoart are both fully operational. I mentioned that in the last sentence. I also in the middle of the post, posted their websites. I appreciate your response though. Perhaps I should only market one business as it's clear talking about all of them can be potentially confusing.

Why not focus on getting one of the five businesses off the ground first?

I've been asking for opinions and feedback for months now with no responses, so hopefully I get some in this thread. I have been working on a coin since November. It's an ERC20 based token that, depending on the success of it, will develop into its own blockchain as I'd like for it to be POS mineable. The coin was coded to have these features: burnable, mintable, pausible and freezable. I did this because its intended use is currency that awards users at particular businesses discounts and other perks. These features will help solve any losses due to any hacks or security breaches that might occur. I can easily refund anyone who experiences losses if some exploit is found (not that I could find one, but I'm likely not the best hacker in the world). So that's the coin.

As for the business behind it. I there will be 5 companies that use IntraCoin: eGoods, Hamrick Hotels, IndyGoArt, Sourcing Motors, and Co-working spaces. Out of the five TWO are fully operational. Meaning, they are open for business. eGoods and Indygoart are fully functional businesses.

eGoods - is a cashback site that offers 10% cashback on all purchases made at partner stores. Currently I've developed partnerships with stores like Walmart, Amazon, Macy's, Best Buy, Aliexpress, etc. The cashback will be int he form of IntraCoins. You can view the site here: www.egoods.co I'll need to raise funds, but not a whole lot as it's already functional, but I do need to spend more money on API's and an employee.

Hamrick Hotels - is a boutique home-sharing accommodations company similar to AirBNB except all of the listings will be properties I manage. You can view an example of a home I renovated on the site and in the whitepaper. The whitepaper has before and after photos along with financial projections for certain cities. You can view the site here: www.hamrickhotels.com This business will require me to raise funds. The photos of the property on the site I sold, but is there as an example of what the hotels will look like.

IndyGoArt - is an art website that focuses on managing artists. It also offers stock images and video clips FOR FREE, and offers artists for hire services depending on the jobs requested. We mainly focus on commercial gigs but will take jobs that are over a certain dollar amount. We also provide educational classes for artists as well such as lighting courses, photography courses, drone courses, painting courses, etc. 1 member of the team is 1 of 2 licensed drone instructors on the Eastern seaboard of the U.S. Another team member is part of the Hollywood scene and has shot many celebrities. You can view the site here: www.indygoart.com

Sourcing Motors - is a car dealership that focuses on exporting vehicles to other countries as well as provides luxury rentals for Hamrick Hotels. This will also require a crowdsale and is planned to begin operations 2-3 years from now.

Co-working spaces - will be located near Hamrick Hotels to accommodate business travelers so they can have their business meetings near their hotel.


At the moment the coin is already deployed, indygoart is functional (we consistently get business from that) and eGoods is operational. I have not began to market anything yet and would like to get feedback and add or change anything that the community would like to see. I'd also like feedback on the idea in general.

Thanks in advance!