# The Importance of Defining Project Milestones with Dave Millman of SalesDev.Global

- Show: [Predictable Designs Podcast](https://hardwarepodcasts.com/podcast/predictable-designs-podcast)
- Published: 2020-08-24
- Length: 53m
- Page: https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob

## Summary

Dave Millman of SalesDev.Global and host John Teel discuss the critical importance of defining project milestones to reduce risk and increase valuation for hardware startups. They outline a progression from initial customer validation and proof-of-concept prototypes to letters of intent, revenue, and profitable manufacturing. Millman emphasizes that an idea alone has no value, and investors look for tangible progress, such as customer testimonials and working prototypes, to mitigate the high risks associated with hardware development. The conversation highlights strategies for engaging investors early by sharing progress updates rather than making unrealistic timeline commitments.

## Chapters

- [0:00](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=0) Introduction: The dual perspective on milestones
- [2:18](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=138) Milestones as risk reduction for investors
- [4:10](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=250) The first milestone: Customer validation
- [9:40](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=580) Managing investor expectations and timelines
- [11:30](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=690) Validating technology with prototypes
- [17:25](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=1045) B2B validation and the cash-vs-product test
- [25:02](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=1502) Validating the whole product and revenue
- [32:00](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=1920) Validating manufacturability and cost
- [35:25](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=2125) Selling before building: Crowdfunding and B2B strategies
- [46:56](https://hardwarepodcasts.com/podcast/predictable-designs-podcast/2020-08-24-the-importance-of-defining-project-milestones-with-dave-millman-of-salesdev-glob#t=2816) Summary: The journey from idea to high-value startup

## Topics

- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)
- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Crowdfunding & preorders](https://hardwarepodcasts.com/topic/crowdfunding)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Prototyping & iteration](https://hardwarepodcasts.com/topic/prototyping)

## Most relevant to

early-stage companies

## Mentioned

- SalesDev.Global (company)
- Hardware Academy (other)
- Texas Instruments (company)
- Blockbuster (company)
- Kickstarter (other)
- Indiegogo (other)
- Chirp Sounds (company)

## Related episodes from other shows

- [S1 E7: Level Up Your Hardware Product Pitch with Haje Kamps](https://hardwarepodcasts.com/podcast/the-builder-circle/2023-06-27-s1-e7-level-up-your-hardware-product-pitch-with-haje-kamps) (The Builder Circle)
- [216: 5 Key Tips For Starting Your Product Development Journey](https://hardwarepodcasts.com/podcast/product-startup/2024-03-11-216-5-key-tips-for-starting-your-product-development-journey) (Product Startup)
- [Deep Tech Investing](https://hardwarepodcasts.com/podcast/oxide-and-friends/2022-08-02-deep-tech-investing) (Oxide and Friends)
- [178: Venture Capital Funding for Hardware Startups](https://hardwarepodcasts.com/podcast/product-startup/2023-06-01-178-venture-capital-funding-for-hardware-startups) (Product Startup)
- [#066 - How to apply lean startup principles to hardware, with Ash Maurya of Leanstack, USA](https://hardwarepodcasts.com/podcast/the-hardware-entrepreneur/2019-01-16-066-how-to-apply-lean-startup-principles-to-hardware-with-ash-maurya-of-leanstac) (The Hardware Entrepreneur)

## Citing this page

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