While many of the assumptions that your business model relies on can be validated by examining competitors and analogs, the leaps of faith must be measured and examined regularly.
Your dashboard should contain a specific metric to test the validity of each hypothesis in your plan. Now, validating your business model becomes a matter of testing and proving each hypothesis as quickly and cheaply as possible. If each assumption proves to be true, it’s time to pull the trigger on scaling up. If not, it’s time for plan B.