At this point, you have selected a problem, validated the customer, defined a solution, and can articulate a clear value proposition and give an elevator pitch.
What you likely do not have is significant investment.
The objective now is to de-risk the opportunity enough to unlock capital, secure early customers, and build momentum. This requires proving two things:
- Technology viability — can the solution actually work?
- Market viability — will customers pay for it?
Both must be demonstrated—not assumed.
Build a Minimum Viable Prototype
You need a Minimum Viable Product (MVP) that delivers a meaningful portion of your value proposition. It does not need to be complete. It needs to be:
- Functional enough to demonstrate value
- Simple enough to build quickly
- Credible enough that a customer takes it seriously
If it cannot be demonstrated, it cannot be sold.
Get in Front of Customers Early
The goal is to put the MVP in front of real customers as quickly as possible. Initial engagement typically includes:
- Lab demos — show the concept and gather feedback
- Prototype trials — allow limited use in a real environment
- Iterative refinement — adjust based on what actually matters
Early interactions are often unpaid. That is acceptable—but only temporarily.
Transition to Paid Engagement
The key milestone is not usage—it is willingness to pay. You need to push toward:
- Paid trials
- Pilot contracts
- Letters of intent tied to commercial terms
If customers will not pay—even at a reduced rate—the value proposition is not yet proven.
Develop a Clear Execution Roadmap
Executives authorizing R&D funds or investors writing checks for equity will ask: “What are you going to do with the money?”
You need a clear, time-bound plan that ties funding to outcomes. At a minimum, your roadmap should show:
Technology Milestones
- Prototype development
- Integration and testing
- MVP readiness
Market Milestones
- Customer interviews and validation
- Demo deployments
- Trials (unpaid → paid)
Commercial Milestones
- Initial revenue
- Pipeline development
- Repeatable sales motion
This roadmap should be grounded in reality—specific actions, not vague intent.
Keep It Time- and Resource-Constrained
You are operating with limited:
- Capital
- Time
- Organizational bandwidth
Your plan should reflect that constraint:
- Focus on the critical few milestones that unlock the next step
- Avoid overbuilding before validation
- Tie spending directly to risk reduction
Extend the Elevator Pitch
At this stage, your elevator pitch should evolve to include execution credibility. In addition to problem, solution, and value, you should be able to summarize:
- What you will build
- Who you will test with
- When you will generate revenue
In 2–3 sentences, you should answer: “How do we get from here to first meaningful revenue?”
Guiding Principle
- Build just enough to prove it works
- Sell just enough to prove people will pay
- Use both to unlock the next tranche of capital
Stay Customer-Focused
This phase is not the end of customer engagement—it is where it becomes critical.
- Continue talking to customers
- Listen to real usage feedback
- Observe actual buying behavior
- Adjust quickly
And throughout:
- Pre-sell whenever possible
Bottom Line
- Prove the technology with a working prototype
- Prove the market with real (preferably paid) customer engagement
- Tie both to a clear, credible execution plan
If you cannot demonstrate both, the venture is not ready to scale.