Business plan
Validating demand before endorsement: evidence that convinces assessors
Most early-stage applicants have an idea, a plan and no customers. That is allowed — but a plan with no outside evidence asks the assessor to trust your assumptions. Evidence from real potential customers is the cheapest way to make a plan believable.
Updated · 3 min read
What counts as evidence
- Letters of intent from named businesses saying they would pilot or buy
- Signed pilot or trial agreements, even unpaid ones
- Survey or interview results with a clear method and numbers
- Pre-orders, waitlist sign-ups or deposits
- Advisers or partners who have committed time in writing
How to get letters of intent
Start with people who already know you: former employers, clients, people in your industry network. Show them the problem and a simple version of the solution, ask what they would pay, and ask whether they would put their interest in writing. A short, honest letter from a real business is worth more than a long one that reads as a favour.
Test willingness to pay, not just interest
"That sounds useful" is not evidence. Ask what they use today, what it costs them, and what price would make them switch. Write down the answers. Those numbers feed straight into your pricing and financial model, which is where assessors look next.
Plan the evidence before writing the plan
Give yourself four to eight weeks of validation before the business plan is final. The plan will be stronger, and you will be far more confident answering questions in an endorsement interview.