4 Tips For Your Business To Start Working With Crypto

As crypto is one of the most exciting innovations we’ve seen in tech as of recent, it’s no wonder why every business is trying to get a piece of the blockchain pie. And while this can be a great industry to be around some exciting technologies, it’s also one you need to be on top of your game to enter. However, that’s why I’m offering a few helpful tips on how to get started. Check them out below:

Find Solid Partners

If you’re looking to get into the crypto industry, then perhaps one of the most important aspects to be successful in forming solid partnerships. Not only will this help you gain some strength within the industry, but potentially help bolster your brand; because as noted by LucidPress, with 64 percent of consumers stating that shared values being the most important aspect to being loyal to a brand, it’s important to have partners that follow suit with that ethos. And to find that, you first need to look at how your brand principles align with theirs.

To begin, start looking around the crypto space and see what type of partnerships you’re after. These can be people that you think are safe bets; for example, something like stablecoin, which is an asset-backed crypto, or even something a little riskier. Beyond just crypto companies themselves, also look at companies that are invested in the crypto space, but may not exactly have a coin or token themselves. All-in-all, the partners you pick up should be those that you feel like are making valid contributions to the field, and you feel excited to work with.

Save Up A Budget For Travel

Another important aspect to acquiring crypto partners is the budget you put in for travel, as this will be a crucial element to your financial success. According to a survey published in Hubspot, nearly 100 percent of respondents stated that in-person meetings are important for long-term business relationships, which goes to show that despite interconnected we can be, in-person meetings still reign supreme. Which if you’re serious about getting into crypto, then it’s important to start setting up your travel budget ASAP.

Make a list of the companies that you’re trying to visit, as well as any conferences. Additionally, try to see what early-bird deals you might be able to take on, as well as if there are any ways you can consolidate resources. A big part about crypto is how much you’re going to be able to help during the token sale process, which if you feel a company is worth it, then it might not be a bad suggestion to go out and meet with them to lock in a position (even if it’s risky). Although it may seem like quite a bit upfront, travel can be one of the most surefire to not only lockdown partners but profits as well.

Hire Vendors When You Need Them

A big part of entering the crypto space is how you come off to these new companies and the type of network and value you can bring. And while it can be great to be a one-stop shop, you should always have a trusted team of vendors or contractors that help push your business offerings even further. This includes those that help supplement where your weak points are, such as graphic design or marketing; if you’re lacking on this, then it’s a good thing to have in place.

To begin, point out where your weakest points are, as well as the price point you’re willing to pay to get it done. For example, let’s say that graphic design isn’t your strong suit, as noted by Thumbtack, the average graphic designer cost around $475 per project. Not only having what you can afford to give them is a must, but additionally how they’re going to pay them, such as echecks or ACH should be noted as well. The more you’re able to pack this into an agreeable rate, the better off you are. Overall, being able to get an edge in crypto with the vendors you bring on can be an excellent strategy, and one you should definitely consider taking on to ensure your success.

Go After What You’re Passionate About

Finally, while this crypto boom can be exciting, it’s also something that you need to be passionate about. As noted by BusinessInsider, with average returns last year coming in at around 1,320 percent, even a fraction of that can be a successful year and something to be mindful of in your search. Remember, this is a relatively new field, but one that could completely change the world, so don’t be afraid to take a risk on something you love. Who knows? You might catch onto the next unicorn.

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Created on Mar 1st 2018 11:27. Viewed 1,174 times.

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