Entrepreneur - AngelSpan, Inc., Angel Legacy, LLC, Legacy Capital Management, Inc. Money manager for angel investors, angel investor. Former clients include executives at Sequoia Capital, Wilson Sonsini, Silicon Valley Bank. Band of Angels founded in my office at 3000 Sand Hill Road.
Look at the Lean Start Up model for good milestones associated with each stage of the start up lifecycle.
That will give you a good framework to operate stay focused, and to communicate with your team/stakeholders/investors on what you are working on, what is going well, and where/why challenges have arisen.