Moral and spiritual wisdom often apply. Do you have strategic milestones that indicate how well the business is doing? It’s tough when you are a pre-revenue company. Consider the use of Validations – those things that others do in response to your efforts.
- Early Customers – get them them as soon as possible. That is the only way you can really find out what they are willing to buy.
- Funding Partners – Angel investors choose their activities carefully. If you are chosen for an early investment, it’s a sign you convinced someone else of your value proposition
- Partnerships and Alliances – You can’t get there alone. Good partners are other businesses who share your risk by giving you a capability you do not have.
- Staff – Attracting others to join your vision is a powerful validation. Get the best.
- Advisors – Successful, experienced people are looking for someone to mentor. Put together an advisory board of people that dress up your skill set and gaps in experience.
Your efforts should include acquiring validations. They reduce risk and provide a roadmap of progress.