Beta users, pilot customers, and letters of intent. How to find them and what to do with them.
At the MVP stage, investors aren't just looking at what you've built. They're looking at whether anyone cares. Early customer evidence is proof that real people are engaging with your product — not just people who said they might in a survey, but people who've actually used it, paid for it, or committed in writing to doing so.
The good news: you don't need many. At this stage, three to ten engaged users is enough to show meaningful signal. It's not about volume. It's about depth and credibility.
Beta users are people who've signed up and tried the product, even if they're not paying yet. They're useful as evidence of interest, but not strong on their own. What matters is whether they kept coming back, gave you feedback, and told anyone else about it.
Pilot customers are organisations or individuals who've agreed to use your product as part of a structured trial. This is stronger because there's a mutual commitment — a pilot customer is saying: we believe this is worth our time to test.
Letters of intent (LOIs) are the strongest pre-revenue signal. An LOI is a document where a potential customer says: if you build X, we will buy it, and here's approximately what we'd pay. It doesn't close a deal, but it signals genuine commercial intent from someone with budget authority.
Start with your own network. Who do you know who has the problem you're solving? Ask them directly — not "would you try this?" but "can I show you what I've built and get your honest reaction?" Then ask them to introduce you to two or three others with the same problem.
If you're B2B, LinkedIn is your friend. Find the specific job title that represents your buyer. Send a short, direct message explaining the problem you're solving and asking for 20 minutes of their time. You're not selling — you're researching. Most people will respect that.
Document everything. Screenshot positive feedback. Save emails. Note the date users signed up and whether they came back. This is the raw material for your traction slide.
When presenting to investors, be specific. "We have 40 beta users" is weak. "We have 40 beta users, 28 of whom have used the product more than three times in the last month, and two have said they'd pay £50/month for it when it launches" is strong.
Counting sign-ups who never logged in. Describing advisors or friends as customers. Presenting feedback from people who know you personally as independent validation. Investors know the difference.
A founder who can say: "We have 12 pilot customers. Seven are using the product weekly. Two have signed LOIs at £200/month. Here's a quote from one of them." That's a traction story. It doesn't need to be bigger than that to get a meeting.
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Try the funding finder →This is general information, not financial or legal advice. Always do your own research and seek independent professional advice.