The Entrepreneur's Checklist
A linear guide from $0 to $100k/Month. Review daily.
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PHASE 1: FOUNDATION (Pre-Revenue)
1. Mission Statement Written
Target:
One paragraph explaining why your business must exist (not what it does).
Format:
"We exist to [transformation] for [specific audience] because [deeper why]".
Reference:
Simon Sinek's Golden Circle.
2. Business Model Chosen
Target:
Decision documented - either "Lifestyle Boutique" (3-12 people, high profit) OR "Performance Business" (built to sell).
Must have:
Written 3-year vision matching chosen model.
Reference:
Daniel Priestley's framework.
3. Aspirational Hourly Rate Set
Target:
Calculate and document your buyback rate.
Formula:
(Target annual income ÷ 2,000 hours) ÷ 4 = Buyback Rate.
Example:
$200k target = $25/hour buyback rate.
Reference:
Dan Martell, Naval Ravikant.
4. Market Validation Score ≥32/40
Massive Pain:
Score 1-10 (how desperately they need solution).
Purchasing Power:
Score 1-10 (can easily afford premium pricing).
Easy to Target:
Score 1-10 (can find them in specific places).
Growing Market:
Score 1-10 (expanding, not shrinking).
Target:
Total score ≥32 (minimum 8 on each criterion).
Reference:
Alex Hormozi's market selection.
5. Customer Interviews Completed
Target:
25 documented interviews with target market.
Required:
Pain points ranked by frequency mentioned.
Output:
One "bleeding neck" problem mentioned by ≥60% of interviewees.
Reference:
Sam Ovens' validation process.
PHASE 2: CONCEPT VALIDATION ($0 → First Sale)
6. MVP/Prototype Created
Target:
Clickable prototype, slide deck, or detailed brochure completed.
Test:
Can explain solution in <2 minutes and get "I want that" response.
Reference:
Sam Ovens' SnapInspect approach.
7. 10x Value Proposition Articulated
Target:
One sentence explaining how you're 10x better than alternatives.
Format:
"Unlike [current solution], we [unique approach] resulting in [10x outcome]".
Validation:
3+ customers say "that's completely different".
Reference:
Elon Musk's 10x principle.
8. Pre-Sales Achieved
Target:
5 customers paid deposits or full payment before product is built.
Minimum:
$500 per pre-sale (total $2,500 collected).
Reference:
Sam Ovens' pre-selling framework.
9. Product-Market Fit Score ≥40%
Target:
Survey 30+ users, ≥40% say "very disappointed" if product disappeared.
Method:
Sean Ellis PMF survey after 2+ uses in 2 weeks.
If <40%:
Return to item #5 (more interviews needed).
Reference:
Sean Ellis' 40% rule.
PHASE 3: AUDIENCE BUILDING ($500 → $5k/Month)
10. Content Library = 7 Hours
Target:
7 hours of binge-worthy content published.
Breakdown:
4 long-form pieces (45-60 min each) + 20 short pieces (3-10 min).
Reference:
Daniel Priestley's 7-11-4 formula.
11. Multi-Platform Presence Established
Target:
Active on 4 platforms with consistent posting.
Metrics:
Each platform has 100+ followers/subscribers.
Reference:
7-11-4 formula requirement.
12. Lead Magnet Conversion ≥25%
Target:
Landing page converting ≥25% of visitors to email subscribers.
Test:
100 visitors = 25+ email sign-ups.
Reference:
Alex Hormozi's lead magnet principles.
13. Email List = 150 People
Target:
150 engaged subscribers (≥40% open rate).
Quality check:
All subscribers match ideal customer profile.
Reference:
Daniel Priestley's minimum viable audience.
14. Daily Activity: Rule of 100
Target:
Every day without exception, complete ONE: 100 personal outreach messages, 100 minutes creating content, OR $100 spent on ads.
Tracking:
30-day streak minimum before proceeding.
Reference:
Alex Hormozi's Rule of 100.
PHASE 4: OFFER PERFECTION ($5k → $10k/Month)
15. Grand Slam Offer Created
Value Equation Score all ≥8/10:
Dream Outcome, Perceived Likelihood, Time to Value, Effort Required.
Reference:
Alex Hormozi's Value Equation.
16. Value Stack = 10:1 Ratio
Target:
Total perceived value ≥10x your price.
Components:
Core offer + 3-5 bonuses addressing objections.
Reference:
Alex Hormozi's value stacking.
17. Guarantee Eliminates #1 Objection
Target:
Bold guarantee addressing biggest customer fear.
Format:
"If you don't [specific result] in [timeframe], we'll [consequence]".
Test:
50% of prospects mention guarantee as decision factor.
Reference:
Alex Hormozi's guarantee framework.
18. Scarcity/Urgency Implemented
Target:
Real constraint creating action (not fake).
Options:
Limited spots (10 max), cohort deadlines, or founding member pricing.
Reference:
Alex Hormozi's scarcity principles.
19. Price Point Validated
Target:
Price achieves path to $10k/month with <50 customers.
Minimum:
$297/month recurring OR $2,000 one-time.
Test:
3+ customers paid full price (no discounts).
Reference:
High-ticket positioning.
PHASE 5: SALES MASTERY ($10k → $30k/Month)
20. Sales Pitch = 2 Minutes
Target:
Deliver complete pitch in <2 minutes, achieve 30% "tell me more" rate.
Components:
Problem + Impact + Solution + Proof + Ask.
Reference:
Daniel Priestley's perfect pitch.
21. Sales Funnel Metrics Tracked
MQL → SQL:
≥13% conversion.
SQL → Opportunity:
≥31% conversion.
Opportunity → Close:
≥20% conversion.
Reference:
Industry benchmarks.
22. Average Deal Size ≥$2,000
Target:
Average customer value ≥$2,000 (one-time or 6-month LTV).
Method:
Upsells, payment plans, or recurring model.
Validation:
Last 10 sales average ≥$2,000.
Reference:
High-ticket selling.
23. Sales Cycle <30 Days
Target:
First contact to close averages <30 days.
Tracking:
Document all touchpoints for last 10 sales.
If >30 days:
Strengthen urgency and social proof.
Reference:
B2B SaaS benchmarks.
24. Win Rate ≥35%
Target:
Close ≥35% of qualified opportunities.
Denominator:
Only count prospects who saw full pitch.
If <35%:
Revisit items #15-18 (offer strength).
Reference:
High-performance benchmarks.
25. Customer Satisfaction ≥90%
Target:
90% of customers rate experience 8+ out of 10.
Method:
Survey within 30 days of purchase.
Required:
Address any issue causing <8 ratings.
Reference:
Service-first selling.
PHASE 6: SCALING OPERATIONS ($30k → $100k/Month)
26. LTV:CAC Ratio ≥3:1
Target:
Lifetime Value ≥3x Customer Acquisition Cost.
If <3:1:
Increase prices or reduce acquisition costs.
Reference:
SaaS sustainability benchmarks.
27. First Hire: Executive Assistant
Target:
VA/EA handling all sub-$25/hour tasks.
Hours:
Minimum 20 hours/week delegated.
Reference:
Dan Martell's Replacement Ladder.
28. Fulfillment Systemized
Target:
Delivery requires <20% of your time.
Documentation:
Complete playbook for service delivery.
Team:
Fulfillment lead or contractor in place.
Reference:
Build systems, not jobs.
29. Marketing = 50 Leads/Week
Target:
Generate 50+ qualified leads weekly without your involvement.
Quality:
≥13% convert to SQL.
Reference:
Predictable revenue.
30. Sales Team Closing Deals
Target:
Sales happen without your involvement.
Metric:
Salesperson closing ≥5 deals/month.
Commission:
10-20% of revenue.
Reference:
When sales = 50% of founder time.
31. 30-Day Cash Buffer
Target:
30 days of operating expenses in bank.
Calculation:
Monthly expenses × 1.5 (safety margin).
Discipline:
Never touch unless emergency.
Reference:
Financial stability.
32. Weekly Revenue ≥$25,000
Target:
4-week rolling average ≥$25,000/week.
Consistency:
No week <50% of target.
Growth rate:
10% month-over-month minimum.
Reference:
$100k/month trajectory.
33. Churn Rate <10% Monthly
Target:
Keep 90%+ of customers/revenue monthly.
If recurring:
Track cohort retention.
If one-time:
Track repeat purchase rate.
Reference:
Sustainable growth metrics.
34. 5 Core Assets Documented
✓ Sales playbook, ✓ Marketing playbook, ✓ Fulfillment playbook, ✓ Financial model, ✓ Culture document.
Reference:
Daniel Priestley's 24 Assets.
35. Leadership Team Started
Target:
Maximum 5 direct reports to you.
Roles filled:
Operations, Marketing, Sales, Finance (can be part-time).
Meeting rhythm:
Weekly leadership meeting established.
Reference:
Executive capacity limits.