Milestones

milestones

All participants in TenX programs – Fundraising PrepSprint & Marathon – are encouraged to tackle milestones that will move the business forward.

Please review the milestones below, and select 6 (Fundraising Prep), 12 (Sprint), or 24 (Marathon), that you plan to accomplish during the program. If you are in Individual Advising or Growth Advising, please select 2 milestones per # of weeks in your advising contract.

After you have selected your milestones, please email these to info@tenx.org for review.

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Revenue

  • Establish and hit an aggressive revenue target for the quarter
  • Make your first sale
  • Double your current daily, weekly, or monthly revenue
  • Find and pursue $X0,000-$X,000,000 opportunity in your market
  • Define & test revenue model
  • Define & test pricing structure
  • Define the steps in your sales process
  • Set up & actively use an Excel spreadsheet or CRM that tracks your sales pipeline

Traction

  • Secure your first paying client
  • Double your client/user pool
  • Secure a high-profile article in a regional or national publication or news outlet
  • Secure a high-profile advisor from your industry
  • Double your sales
  • Prep & deploy a successful marketing campaign as you enter the market
  • Build & deploy a successful product/service launch as you enter the market
  • Secure funding from a credible source
  • Land a major partnership
  • Win a startup or industry-specific achievement award

Business Development

  • Complete market validation
  • Complete competitive research
  • Define the value target clients receive from your product/service
  • Write simple business plan
  • Identify sources of referrals
  • Set up a corporate bank account & basic accounting
  • Create 6 Week or 90 Day Milestones
  • Create a project management plan for accomplishing your milestones
  • Create a concise tagline that sums up the company in 10-15 words
  • Create and memorize elevator pitch
  • Create a basic 10-slide pitch deck
  • Complete basic brand/identity work, including a logo, company name, landing page
  • Set up basic company email/phone information
  • Prepare a media kit, including press release template
  • Design & order basic business cards

Product/Services Development

  • Request specifically desired features/functionality for the service/product from users/clients
  • Identify a test pool of users/clients
  • Spell out/architect the basic functionality required for a Minimum Viable Product (or Service)
  • Create a Minimum Viable Product (or Service)
  • Complete user testing
  • Launch a Minimum Viable Product(or Service)
  • Work with users to collect feedback and implement into product/service updates

Team

  • Identify your most valuable set of skills, interests, and experience
  • Rehabilitate founder burnout to an acceptable level
  • Create an organizational chart for the next 12 months of the business
  • Add 1-4 cofounders/contractors to your team
  • Secure basic service providers — lawyer, accountant, etc.
  • Set up and run weekly team updates or meetings
  • Clarify founder roles, compensation, and responsibilities via founder agreement documents
  • Resolve outstanding founder conflicts o Clarify the cap table with founders & investors
  • Secure the necessary team, tasks, and resources in order to meet deadlines
  • Set up a Tax ID, business license and registration, legal entity, file taxes

Resources

  • Complete 12 Month profit & loss projections
  • Complete 12 Month cashflow projections
  • Complete 12 Month personal profit & loss projections
  • Complete 12 Month personal cashflow projections
  • Create a best & worst case funding plan
  • Find and secure a part-time or full-time consulting, contract, or employment opportunity
  • Pursue & secure startup/operating capital
  • Define and set up a payment mechanism for clients (credit card, checks)