Many companies fail when they focus on developing a single product or service. Markets are changing with increasing speed, and it’s often not enough just to be good at one thing. The problem is that customers quickly lose interest in a particular product and are interested in new trends.
As these trend reversals happen so quickly, companies don’t have time to react. New strategies sometimes require decisions, capital and time. Since this does not happen overnight, there is a high risk of losing customers and investment made in their own company.
The same applies to the crypto market. I can happen that companies emanate from potential customers who do not even exist in reality. Perfectly planned marketing strategy and a high-profile advisory board mean that ICOs are sold out in seconds. If the coin or the token then comes on an exchange, trading volume also corresponds to the ICO clearance speed, as all of the hype and the fear of missing something expired.
When that happens, companies experience a run, outlining an ideal target audience in their business plan, but not a single real customer. The unwritten rule is that less money is more, because less money allows you to think outside the box and find solutions that you would not find if you had much more or too much capital at your disposal. This market may be driven by people who want to make big profits as quickly as possible, and therefore do not pay attention to investing in sound projects.
What we will see in 2018 and beyond is the success of projects that have built not just a product but an ecosystem. People out there do not just want to buy books on Amazon, they want to buy everything they can imagine, and yes, why not make a streaming service available that you can control through your AI assistant. This comprehensive offering is perfectly tailored to customer needs, and that’s why Otcrit does not build a product, but a platform – a place where customers experience a range of services that they actually have from a single company. Otcrit wants to be an all-in-one solution for traders and investors.
Otcrit builds this platform to provide the community with knowledge about Blockchain economy business models in a transparent way. We will see the beginning of a second wave of very successful blockchain projects soon – those that actually provide a working product and achieve some adaptation. It will be necessary to acquire more know-how if you want to continue to successfully trade and invest in this new phase.
Demand for objective information will be greater than ever and investors will need to spend more time analyzing companies. Exchanges will have big problem keeping their customers unless they also start to offer a better user experience or better warning systems in terms of newly listed projects. If this market becomes as big as today’s stock market, the focus must be on development and research rather than marketing.
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