Most cryptocurrencies have something you would know as a token. They would just use the three letters of their company and say this is our token. You can start trading it. Forty percent or even more of my clientele have a problem when it comes to the utility of their token. Let me tell you a few major concerns when it comes to the crypto world. I’ll also link to our “Tech” template that is perfectly used as a crypto business plan template.
Utility Makes or Breaks
Starbucks can start a crypto initiative with their token SBX and then just let people buy it but what are they going to use it for? Is it to buy coffee? Because if it is to buy coffee then this is good utility. Now whatever you work in the cryptocurrency world you might not really need a token. You only use a token when you have a very straightforward and obvious utility to use that people will need it for.
Timing (Real Life Example)
There was this one time a client approached me asking for support when it came to outreach. They wanted to reach a client that was called Rain and if I remember correctly, was the only cryptocurrency exchange that just got approval in one of the Gulf countries. That client believed that this company would have a tremendous valuation because of the dire need for people to find an exchange that is local.
He was kind of correct in his assumptions more or less. The company is one of the biggest when it comes to cryptocurrency in that region and it would have been a very good idea to invest heavily in this company back then.
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Being there at the perfect moment is key when it comes to a crypto business. And in order to be there at the perfect moment, you ought to create the perfect crypto business plan. With the market research that is necessary, with the operational plan that is necessary, with the financial projections that are perfect with all sorts of matters that are important to maintain your progress as a crypto business.
The Proper Crypto Business Plan
A perfect crypto business plan should focus on elements like market research, operational plan, financial plan, organizational structure, technology, as well as team information, which could be incorporated in the organizational structure as well. If you work on a business plan as such and you print it out or you just keep it on your desktop, you’re going to know what to do at each particular time.
The most essential element of what I mentioned is the operational plan. And this is for you to know what to do at what time. If you noticed, I haven’t actually added tokenomics to the mix. I prefer to add the tokenomics or the details of your token to the white paper instead.
Whitepaper vs Business Plan
Now, the white paper is an extremely similar document to a business plan. The only difference is it focuses on technology and the token. It doesn’t really matter whether you add in the operational plan or the organizational structure. Although it’s recommended to add a team to the white paper to just show that it’s legit rather than it’s just a document to raise an investment from the people out there.
The Tech (Use Case – A Crypto Business Plan Template)
Now, I’ve worked with my team in Switzerland on creating a template called The Tech. The Tech is a template in presentation form that could be used as a crypto business plan template. It was designed with that in mind so that you would use it for either convincing a co-founder of joining our company, a team member, or an investor of actually investing in your startup. It could also be added to your crypto business to showcase your token.
So check it out. And remember, a crypto business belongs to the future. You need to reach a level of patience and mindfulness. That’s the only way to grow a crypto business to what it is meant to be.