If you can’t give it away, you’re never going to sell it
This is called validation and it’s the first benchmark because you have to have tangible demand to know what you’ve truly got. The more validation you have, the more opportunities you will have. Validation is what investors look for, it’s what customers look for and it’s what differentiates you from the competition. Yes, there is always competition so you have to be tough, creative and frugal, keeping your eye on the goal all the time—business is sales and there is no better money than revenue.
So forget about all the ways you can waste money, whether it’s yours or not, on offices, employees, trade shows and cool new gadgets that are sure to make you successful. Validate your idea as broadly as you can and create demand.
Supplying the demand you’ve validated will be the next benchmark, but you’re not there yet, you’re here and there’s a lot of work ahead as you set off on validation.