If you’re like most B2B founders, you’re pitching your startup while you’re still knee-deep running “in-process” experiments. These are hypotheses you’re trying to validate—and often, you’re seeking funding to test them.
That’s all well and good, but in 2025 you can’t rely solely on in-process narratives when it comes to raising venture capital. Instead, focus on completing closed-loop GTM experiments—what we’ll call “finished stories”—that start with a well-defined Ideal Customer Profile (ICP) and end with clear results.
The Pitfall of In-Process Stories
In-process stories are exactly that: stories. You’re telling investors and partners what you think might work, but there’s a big, unaddressed question: Will it actually produce revenue?
When your target market and unique value proposition are still a work in progress, even the best guess is vulnerable to real-world unknowns. It’s easy to spin an exciting narrative around big possibilities, but until you see tangible feedback in the form of paid customers, your story remains incomplete.
The Power of Finished Stories
Once you define your ICP—down to specific industries, job roles, and pain points—you can run closed-loop GTM experiments that test exactly how and why your solution solves a critical problem.
These finished stories yield hard evidence instead of “it might work.” They translate directly into:
- Revenue Validation
Showing that people will pay for your product is the ultimate proof of demand. - Feedback-Driven Insights
Real-world usage reveals critical clues for refinement. You know what resonates and where you need to pivot. - Credible Narratives
Finished experiments replace speculation with data points, boosting credibility with investors, partners, and customers alike.
Moving Toward Product-Market Fit
Too often, founders think they need to “scale fast” based on a series of half-finished experiments. Instead, see each GTM test through its full cycle:
- Hypothesis: Identify a specific customer pain point that you believe your solution can solve.
- Test: Target your ICP, engage them with your core offering, and measure the resulting response.
- Result: Did you secure paid customers? What usage patterns emerged? Where did they drop off?
- Refine: Take these insights into your next iteration, focusing on deeper validation with the same ICP or a closely related one.
When you complete this loop, you have a finished story—one that tells prospective investors and customers how your product actually performs in the market.
Key Takeaway
Don’t rely on half-baked, in-process hypotheses when you could be telling powerful, data-backed stories.
Closed-loop GTM experiments that target a well-defined ICP and generate tangible feedback—especially revenue—are what drive real growth and establish your credibility.
By focusing on running (and finishing) those experiments, you’ll be on the fastest path to product-market fit and a narrative that resonates with investors, customers, and your own team.