Early Stage Milestones
Milestones and Stepping Stones in the Early Stage of a Startup's Development
The early stage generally refers to the phase that follows the seed stage and is often entered when the Company raises its first significant round of funding. In the early stage, the major milestones involve releasing the product, launching the Company, forming strategic partnerships, hiring a professional management team, closing the first sales and preparing to scale up.The cash is in the bank, the investors are lookin
g to move ahead at lightning pace, this is what you’ve been waiting for. Now you can hit the ‘go’ button on all those projects that you’ve been holding off until you closed your funding. This is the time many companies start recruiting, move into new offices and buy their new hardware, software and other essential equipment. Once you start spending like this, it’s sometimes difficult to figure out where to draw the line. Just remember that you’re a technology startup not a luxury furniture showroom and most shareholders like to know that you’re flying at the back of the plane rather than the front. The company may have millions of dollars in its bank account but it’s important to keep costs under control.
Notes about Milestones
Milestones have to be achieved in parallel—when reviewing these milestones, it's important to recognize that the process is not entirely serial. Management has to work on several milestones in parallel. Milestones are different for every company—the list of milestones has to be tailored for each company to reflect its specific market, technologies and challenges. Milestones have dependencies—some milestones cannot be commenced until others have been successfully completed.
Select an Early Stage Milestone:
Close your First VC Round of Funding
Press all the 'Go' Buttons. Accelerate the Ramp-Up.
Hire a Salesperson
Outsource Everything that Moves
Set Up a Bookkeeping and Accounting System
Build a Scalable I.T. Infrastructure
Structure Sales Agreements
Close Sales Agreements
Set Up a Scalable Financial Management System
Polish Your Business Plan Presentation