Bitcoin Forum

Please share your experience of building startup(project) from beginning. What was the hardest or most common problems you've encountered? etc...

why do you want to know that?

Most common problems is funds..
I have knowledge about crypto market, develop web apps, etc..
but I have great idea but I can't release it because have not enough funds.

getting users. marketing and advertising is really difficult and expensive regardless of your product.

From my experience, the most important part at the beginning is the team. You must find partners that are hardworking, goal oriented and believe in the project. Also, they must respect each different opinion and know how to deal with the differences. Since the start, the duties and responsibilities should be well defined and a process on how the decisions should be made, considering different topics, must be clearly disclosed to the team. As soon as you achieve that and every single person in your team is well aligned with your strategies, you will be more prepared to deal with your laments and glories. After you establish this direction, you will be able to use your funds smartly. However, if you don't organize the most important part of a company, the people, you may displease people without noticing ending up compromising dedication.

Of course running a project with lack of funds may be a problem, but when a team truly believes in the goals it can overcome such challenges. "Fail and fail again, then, succeed".

good speech

how is your startup doing?


regards

This is the common problem specially if you do have the skills and ideas of such project which you would really have a problem on starting up because anything does really matter on money to build up on the idea on your mind but actually its not actually a useless since people could really launch an ICO but would be a tough thing because it would really requires a marketing which would involved money again  ;D

I wonder how many can answer this question for you. This is a question of the field of expertise, so, instead of asking the people here, find someone who really knows about it. They will answer you more clearly.

nevertheless starting a cryptocurrency has compared with other startups relative low min required capital costs. and here there is a vice versa law, the more professional you appear the more you look like the established banker cartells, the less successful you are. (see ripple, worldcore)

regards

my experience, working in a project is not easy. because it requires various sacrifices to achieve success.
among them is sufficient capital and good communication between the workers team. with good communication, will be able to get clarity in work. so we know what each worker should do.
in addition, sufficient capital to start a project is certainly needed. especially for someone who is new to building a project, the risk of failure is definitely big so I try with the team must be able to work carefully and can read the opportunities and have a good strategy so that the risk can be minimized and the project will be successful.

Have you checked out Paul Graham's essays? They are about startups in general, not just crypto, but might still be of interest to you:

http://www.paulgraham.com/articles.html




Ehh... while Ripple does not get much love from the old guard, that has little to do with "how professional they appear" and more with XRP being fully centralized. Besides I'm not sure whether one of the top 5 alts in both market cap and volume can really be considered unsuccessful. Feel free to correct me in case I misunderstood your statement though.

doesn't agree with you.
low capital - yes, but run ICO need 60K-200K usd. (for bank is not big money, but for startup or beginner team it's very high)

new question..
Where can get first capital without ICO?

it would be nice if you have enough capital..its easy to do a move when you have overflowing funds where you can get at the start

Are building something urself

I remember his "hacker" essays, It was top 1 result in Google rank when I googled for "How to become hacker" many years ago.  I was kid though.
Feels strange to revisiting his site and interesting essays again.


Yes