How to Start a Blockchain Services Business

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How to start a blockchain services business

If you're considering starting a blockchain services business, there are a few things you need to know. First, blockchain is a distributed database that allows secure, transparent and tamper-proof transactions. This makes it ideal for a wide range of applications, from financial services to supply chain management. Second, while there are many opportunities in this space, it's also a highly competitive market. To be successful, you'll need to have a deep understanding of the technology and its potential applications, as well as a solid business plan. Here's an overview of what you need to do to get started.
1. Develop a deep understanding of blockchain technology.
2. Identify a niche market or opportunity for your blockchain business.
3. Create a business plan outlining your value proposition, target market, and go-to-market strategy.
4. Raise capital to fund your business.
5. Build out your team and expertise.
6. Launch your business and start acquiring customers.
Business Plan
Assuming you would like a section on creating a business plan for a blockchain services business: There is no one-size-fits-all blueprint for starting a blockchain services business, but there are some key things to keep in mind when drafting your business plan.
First and foremost, your blockchain business should have a clear purpose and target market. What problem are you solving with your blockchain services, and who will benefit from using them?
Once you have a solid understanding of your business’s goals, you can start putting together your team. Do you have the in-house expertise to develop your blockchain platform, or will you need to partner with or outsource to another company?
Next, you’ll need to consider your budget and how you will finance your blockchain business. Startups often struggle to secure funding, so it’s important to have a clear idea of how much money you will need to get off the ground, as well as what return on investment (ROI) potential investors can expect.
Finally, don’t forget to create a marketing strategy. How will you spread the word about your blockchain services and get people using them? With these key components in place, you
Target Market
The first step in starting a blockchain services business is to identify your target market. Who will you be providing services to? What type of businesses or individuals will be your ideal clients? Once you have a good understanding of your target market, you can begin to develop a marketing and sales strategy to reach them. Think about what type of businesses or individuals would benefit the most from your services. Do you have experience working with a certain type of business or industry? Are you familiar with the needs of small businesses or startups? Perhaps you have a background in finance or accounting and could provide valuable consulting services to help companies navigate the world of blockchain and cryptocurrency. Whatever your niche may be, make sure you have a good understanding of who your target market is before you start your blockchain services business.
Business Model
There are a few key things you need to do to start a blockchain services business. First, you need to understand the technology. Next, you need to identify a problem that can be solved with blockchain. Finally, you need to build a team and develop a business model. The first thing you need to do is understand the technology. Blockchain is a distributed ledger technology that can be used to record transactions and track assets. There are many different applications for blockchain, so it's important to understand how the technology works and what it can be used for. Next, you need to identify a problem that can be solved with blockchain. There are many different potential use cases for blockchain, so it's important to find an industry or problem that would benefit from the use of this technology. Once you've found a problem that blockchain can solve, you can begin developing a solution. Finally, you need to build a team and develop a business model. Blockchain is a complex technology, so it's important to have a strong team of developers, marketers, and other professionals who can help bring your solution to market. You'll also need to develop a business model that will allow you to monetize your solution..
Competitive Landscape
The blockchain services market is still in its early stages, with a limited number of large-scale projects and service providers. Nevertheless, the competitive landscape is becoming more crowded as new entrants join the fray. Here are some of the key players in the blockchain services market: - IBM: IBM is one of the largest and most well-known technology companies in the world. The company has been actively involved in blockchain projects and has launched a number of blockchain-based services.
- Microsoft: Microsoft is another big tech giant that has entered the blockchain space. The company offers a cloud-based platform called Azure that allows developers to build and deploy blockchain applications.
- Amazon: Amazon is a major player in the cloud computing space and has also launched a blockchain service called Amazon Managed Blockchain.
- Google: Google is one of the most influential companies in the world and has also started to explore blockchain technology. The company offers a cloud-based platform called Cloud Spanner that can be used to build scalable blockchain applications.
These are just some of the major players in the blockchain services market. There are many other startups and established firms that are offering similar services. With the increasing interest in blockchain technology, we can
Costs & Pricing Strategy
There are a few things to consider when it comes to costs and pricing strategy for your blockchain services business. The first is the cost of the underlying technology. This can be significant, depending on the size and scale of your operation. The second is the cost of any third-party services that you will need to use, such as storage or computing power. Finally, you need to consider your pricing strategy. What will you charge for your services? How will you structure your pricing? These are important questions to answer as you develop your business plan.
Forming a Legal Entity
If you want to start a Blockchain Services business, you will need to form a legal entity. This will protect you from personal liability and help you raise money for your business. You can choose to form a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of entity has its own pros and cons, so you will need to choose the one that is right for your business. If you are the only owner of your business, a sole proprietorship may be the best option. This type of business is easy to set up and you will not have to deal with much paperwork. However, sole proprietorships offer no personal liability protection, which means that you could be held responsible for debts incurred by your business. Partnerships are similar to sole proprietorships in that they are easy to set up and offer no personal liability protection. If you decide to form a partnership, you will need to choose a business partner who you can trust and who has complementary skills. It is important to have a written partnership agreement that outlines each partner's roles and responsibilities. A limited liability company (LLC) offers personal liability protection and is a good option for a small group of founders.
Opening a Business Bank Account
When you’re ready to start your Blockchain Services business, one of the first steps is to open a business bank account. This will help you keep your personal and business finances separate and will make it easier to track your expenses and income. To open a business bank account, you’ll need to have the following information and documents:
-Your business name and address -Your Social Security number or Employer Identification Number (EIN)
-A list of the owners, officers, and directors of the company
-Articles of incorporation or a business license
-A voided check or deposit slip from the account you’ll be using for your business
Once you have all of the required information and documents, you can visit your local bank or credit union to open a business checking account.
Setting up Business Accounting
If you're starting a Blockchain Services business, one of the first things you need to do is set up your business accounting. This will ensure that you're keeping track of your finances and that you're complying with any financial regulations that apply to your business. Here's a quick guide to setting up your business accounting:
1. Choose an accounting software. There are many different accounting software packages available, so do some research to find one that will suit your needs.
2. Set up your chart of accounts. This is a list of all the categories of income and expenditure that you will track in your accounting system.
3. Set up your bank account. You will need a business bank account to manage your finances effectively.
4. Keep track of your income and expenditure. Make sure you keep accurate records of all money coming in and going out of your business.
5. Prepare and file your tax return.
Once a year, you will need to file a tax return for your business. Make sure you keep on top of this so that you don't miss the deadline
Setting up Business Insurance
As a business owner, it is important to protect your company with the proper insurance. When setting up a Blockchain Services business, you will need to consider the following types of insurance:
-Product liability insurance: This will protect you in the event that a product you designed and printed causes injury or damage.
-Professional liability insurance: This will protect you in the event that a client suffers damages as a result of your work.
-Business property insurance: This will protect your equipment and premises in the event of damage or theft.
-Business interruption insurance: This will protect you in the event that your business has to stop operations due to a covered event.
-Employee dishonesty insurance: This will protect you in the event that an employee steals from your business.
Speak with an insurance agent to determine which policies are right for your business
Setting up a Business Website
If you want to start a Blockchain Services business, one of the first things you need to do is set up a website. This will be your online home base, where potential customers can learn more about your business and what you have to offer. There are a few key things you need to include on your website:
-An About page: This is where you can tell your story and give potential customers a sense of who you are and what you stand for.
-A portfolio: Showcase your best version on your website so that potential clients can see your work.
-A contact page: Make it easy for people to get in touch with you by including your email address and/or social media links.
-Pricing information: Let visitors know how much you charge for your services.
By having a well-designed website, you’ll be able to attract more customers and grow your Blockchain Services business
Obtaining the Necessary Permits
If you want to start a Blockchain Services business, the first thing you need to do is obtain the necessary permits. Depending on the nature of your business, you may need to obtain a business license, a zoning permit, and/or a special use permit. To get a business license, you will need to submit an application to your local government. The application will ask for basic information about your business, such as the business name, address, and type of business. Once you have submitted the application, you will need to pay the required fee. If you plan on operating your Blockchain Services business out of a commercial space, you will need to obtain a zoning permit. The zoning permit will allow you to use the space for commercial purposes. To get the permit, you will need to submit an application to your local government. The application will ask for basic information about your business, such as the business name, address, and type of business. Once you have submitted the application, you will need to pay the required fee. Depending on the type of Blockchain Services business you want to start, you may also need to obtain a special use permit. A special use permit is required for businesses that provide
Setting up a Business Number or Appointment Setter
When you’re ready to start your Blockchain Services business, one of the first things you need to do is set up a business phone number or an appointment setter. You can use a service like Google Voice to set up a business phone number for your Blockchain Services business. Google Voice will give you a free business phone number that you can use to make and receive calls. Once you have a business phone number, you can start taking calls from potential customers. When you get a call, be sure to take down the customer’s name, contact information, and what they need. Once you have this information, you can give the customer a call back to discuss the project in more detail and give them a quote.

Developing a Blockchain Strategy

When starting a blockchain services business, it's essential to develop a comprehensive strategy that outlines the goals and objectives of your business. Your strategy should include key elements such as defining your target market, understanding the competitive landscape, and creating a unique value proposition for your customers. Additionally, you'll need to consider the technology you'll use to develop, deploy, and maintain your blockchain-based applications and services.

Securing the Necessary Technology

Once you've developed your strategy, it's time to secure the necessary technology to build and deploy your blockchain-based applications and services. This will include both hardware and software components such as servers, storage devices, networking equipment, and programming languages. You'll also need to consider the security measures you'll put in place to protect your applications and data from being compromised.

Understanding Regulatory Requirements

Depending on where you operate your business, there may be specific regulatory requirements that you must comply with. It's important to understand these requirements so that you can ensure that your business is compliant with any applicable laws or regulations. Additionally, understanding the regulatory environment can help you identify opportunities to leverage existing regulations to your advantage.

Managing Your Team

As with any business, managing your team is an essential part of ensuring success. When starting a blockchain services business, it's important to have a clear vision for how your team will work together and how tasks will be divided among members. Additionally, it's important to establish clear lines of communication between team members and ensure that everyone is aware of their responsibilities and deadlines.

Finding the Right Partners

Partnering with other businesses or organizations can be an effective way to increase visibility for your business and expand its reach into new markets. When selecting partners for your blockchain services business, it's important to make sure they share similar values and have similar goals for success. Additionally, it's important to carefully evaluate potential partners before entering into any agreements in order to ensure that both parties are benefiting from the relationship in equal measure.

Promotion and Advertising

Promoting and advertising your blockchain services business is essential for increasing visibility and bringing in new customers. Consider which platforms are best suited for reaching your target audience and create campaigns tailored specifically for them. Additionally, consider investing in search engine optimization (SEO) strategies so that customers who search online will be directed towards your website or services first.

Accepting Payment Methods

Accepting payments from customers is an essential part of any successful business model. When operating a blockchain services business, it's important to accept payments via both traditional methods such as credit cards or bank transfers as well as digital payment options such as cryptocurrency wallets or payment processors like PayPal or Stripe.

Establishing a Customer Support System

Customers are the lifeblood of any successful business so it's important to provide them with top notch customer support when they need assistance or have questions about their orders or services. Establishing a customer support system is essential for providing timely responses to customer inquiries and maintaining positive relationships with them over time.

Continuous Improvement

As technology evolves over time so too must businesses adapt in order to stay competitive in their industries. For a blockchain services business this means staying up-to-date on the latest trends in technology as well as exploring new ways of delivering value to customers through innovative products or services. Implementing ongoing improvement processes is key for staying ahead of the curve and ensuring long term success for your business.

Risk Management and Security

Security is paramount when operating a blockchain services business since users trust their data with you when they use your products or services. Implementing risk management processes as well as robust security protocols such as encryption algorithms can help protect user data from being compromised while also providing peace of mind for users who trust you with their sensitive information.
If you're looking to start a business in the blockchain space, there are a few things you'll need to do. First, you'll need to educate yourself on the technology and how it works. Next, you'll need to identify a need in the market that you can fill with your blockchain business. Once you've done that, you'll need to build a team of experts who can help you develop and launch your business. Finally, you'll need to market your business and get it in front of the people who need it. With a little hard work and dedication, you can start a successful blockchain services business.

Why write a business plan?

A business plan is a critical tool for businesses and startups for a number of reasons:
  • Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
  • Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
  • Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
  • Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
  • Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
  • Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
  • Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
  • Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
  • Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
  • Business plans allow you to position your brand by understanding your company’s role in the marketplace.
  • Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
  • Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content


Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:
  1. Executive Summary
  2. Company Overview
  3. Industry Analysis
  4. Consumer Analysis
  5. Competitor Analysis & Advantages
  6. Marketing Strategies & Plan
  7. Plan of Action
  8. Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect Blockchain Services business plan, fill out the form below and download our Blockchain Services business plan template. The template is a word document that can be edited to include information about your Blockchain Services business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning


With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.


Want a Bespoke Business Plan for your Blockchain Services Business?

Our Expertise


Avvale Consulting has extensive experience working with companies in many sectors including the Blockchain Services industry. You can avail a free 30-minute business consultation to ask any questions you have about starting your Blockchain Services business. We would also be happy to create a bespoke Blockchain Services business plan for your Blockchain Services business including a 5-year financial forecast to ensure the success of your Blockchain Services business and raise capital from investors to start your Blockchain Services business. This will include high-value consulting hours with our consultants and multiple value-added products such as investor lists and Angel Investor introductions.


About Us


Avvale Consulting is a leading startup business consulting firm based in London, United Kingdom. Our consultants have years of experience working with startups and have worked with over 300 startups from all around the world. Our team has thousands of business plans, pitch decks and other investment documents for startups leading to over $100 Million raised from various sources. Our business plan templates are the combination of years of startup fundraising and operational experience and can be easily completed by a business owner regardless of their business stage or expertise. So, whether you are a budding entrepreneur or a veteran businessman, download our business plan template and get started on your business growth journey today.