How a blockchain consulting service will save you a ton of money

Blockchain technology is a powerful tool that can optimize your business — if it’s done right. It can also bog you down with unnecessary complications. Mature businesses and tech startups looking for ways to use blockchain technology need good advice and a team with the right skills. Before going all-in on a blockchain project, you’ll have to prepare and find the right blockchain consulting service to help you on your way. Sifting through all the blockchain consulting firms can be challenging. So how do you decide on the right one? Expert advice at all stages of your blockchain project can mean the difference between a profitable decentralized business and a money pit.

Blockchain consulting service

I advise people on enterprise blockchain integration and I often notice that some entrepreneurs struggle to keep up with the pace of innovation. Rising to the challenge of putting blockchain to work for you comes with some pitfalls. However, building a strong foundation is worth it in the long run. Trust me. A team of blockchain veterans can help you avoid the common mistakes — saving you a ton of money.

You may be thinking, “When should I reach out for support?” Here’s where a blockchain consulting service comes in handy. In my own work, I often divide the stages of blockchain development into a few parts. I sit down with clients to develop a great idea, write a whitepaper, and finally create a great product.

Espeo’s blockchain consulting service

As a company which both promotes blockchain knowledge and develops blockchain solutions, we focus on two kinds of consultancy — blockchain training and blockchain product design workshops. But what sets Espeo Blockchain apart from other blockchain consulting firms? Many others offer consulting services, but some teams are over-eager (or less than experienced.) With several successful blockchain projects under our belts, we’re proud to call ourselves blockchain experts.

blockchain consulting firms

Blockchain training

Our Head of Blockchain,  Marcin Zduniak leads our 3-day blockchain immersion. Zduniak teaches blockchain novices the basics of the blockchain industry. In it, he opens up potential use cases in your sector. Coming up with great ideas is a perfect first step in blockchain development. Zduniak also demonstrates how to create your own private blockchains. At his point, it’s great to see that your business idea has a solution with a unique blockchain. Here, you’ll build a smart contract, gathering essential knowledge about how it’s all going to work, and how your business will benefit. But what will you actually learn to do in the training?

Develop an exceptional business idea

In the first part of the course, it’s critical to decide if blockchain is a good fit for your business. Sometimes it’s better to use existing technology. Honestly, blockchain may not be your best bet. We’ll be the first to tell you if this is the case. But for many sectors — especially where trust is an issue — the technology can improve your business process. Real estate investment and derivatives trading are some industries with some promising blockchain applications. — ones we’ve actually worked on and can vouch for.

If you are not sure if blockchain tech can ease a business pain point, it’s a good time to ask blockchain experts who can help you brainstorm.

For an existing company, training courses revolve around the company’s blockchain development. Some solutions used so far with other technologies can be completely rebuilt and upgraded with blockchain. Such consultations should give a picture of the company’s rapid growth and scalability using the technology. Scalability describes the way the company should go and the budget it should devote to the implementation of blockchain as it grows.

Write a killer whitepaper

A comprehensive whitepaper gathers your business plan, marketing materials, and legal issues in one place. The whitepaper is your company’s manifesto so it should be spotless in order to attract the attention of eager investors. Be sure not to fall for some of the common ICO whitepaper mistakes such as failing to align all stakeholders’ interests.

If you think that your white paper could be better — or you don’t have a white paper at all, an experienced team can help with this daunting task. Many blockchain consulting firms offer this service, but few pore over each detail. As in many industries, the devil is in the details and problems only compound with any blockchain project.

Plan a disruptive product

This moment is crucial for a startup — planning out a blockchain for business. Regardless of the type, at this stage of development, you may want to know how long the process will last and how much to budget for it. A thorough technical consultation will help you understand what you’re actually paying for. Most blockchain consulting firms offer a free estimate of a blockchain project, but often don’t give clear comments explaining line items. Additional consultations in this area will clarify how much the solution costs, the segment in question, why this technology can get pricey, and how long the process will take. This will also allow you to gauge further product development.

Learn beautiful product design

Our product design workshops are a fusion of a blockchain consulting service and technical advisory. The ultimate goal of the workshop is to give you the know-how and point you in the right direction. Before the product design workshop, it’s best to have a list of objectives — or backlog — so you can fully immerse yourself in the creative process.

You must have a vision of what you want to do and the product you want at the end of the course. We consider your product vision and determine if you can optimize it with blockchain technology. We help you understand design systems and create mockups of the final product, and suggest the best way to accomplish the final objective.

Other blockchain consulting firms

A wide array of blockchain consulting firms will give you similar advice. However, some may miss the fine details and you’ll end up paying more in the long run. Support and consultation should go hand in hand in any blockchain company’s development. If such support is strictly related to business development, success hinges on sound business advice.

It does not matter at what stage your company is. Whether you’re a startup or a mature company, a blockchain consulting service should adapt to your individual needs. If you’re a blockchain startup, you may be struggling with the specific atmosphere of the blockchain business space. As a startup, you have to focus on solving the basic problem of gaining investors’ attention and entering the market with your innovative product. Unique solutions to real market needs are your greatest strengths.

This is the main reason why entrepreneurs seek out consulting. In order for your project to attract investors, your calendar should be filled with carefully planned steps, dates of success.

If you’re part of a mature company, you’re probably wondering if blockchain solutions can improve your business. This form of advisory allows you to generate revenue. At this stage, a blockchain consulting service is something to consider.

blockchain consulting firms

Final thoughts

Many blockchain consulting firms claim to have all the answers. It’s important to do your homework though.  Whether you’re a blockchain startup, or a mature business looking for ways to improve, a trusted blockchain consulting service is essential. Knowledge is power and the key to success. In such a new and fast-paced environment, getting the best answers are worth their price.