Disclaimer: Building a community will need to continue to be done post the ICO to support the token and achieving the projects objectives.
Private token sale
Selling your tokens all in a private sale is also possible and good examples of this would be OMG Token that happened without a public sale. There is nothing wrong with this approach however often project owners networks are not large enough to sell enough tokens to meet their goals.
If you want to do a public ICO you need to do build a community around your token and vision. This takes time and you need to build trust with your community by showing regular communication and traction that show that you are going to achieve the vision you outline.
We suggest that your build up to your ICO should take around 4-6 months. This does not include the learning and investigation you may have done before to convince yourself that you want to launch a Token offering.
Most successful ICO’s need to do a preico funding round and a public funding round.
Preico funding round
The preico funding round can be done publicly or privately. Doing a public preico round can leave a bad taste in the market as the public token buyers can see the discounts being offered to larger buyers and this can cause resentment.
Private preico sales need investor networks and often comes with a high commission cost.
Doing an ICO properly takes time and money. The cost of doing an ICO has risen overtime with more and more competition from competing ICO’s in the world. Be prepared to raise money before the preico and build your networks consistently.