Reference
Velocity of Value Recognition
The speed at which a customer comes to recognize value, which happens two ways: seeing credible potential before anything has been delivered, and seeing value that has actually accrued. The second runs at the slower of two clocks, the value accruing and the customer noticing that it did.
What it is not
Not time to first value, which is one point on the curve.
Where it was staked
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VVR is the speed at which a customer perceives and realizes value. That's two verbs, not one, and they come apart. A customer can be getting exactly what they bought while nobody on their side has noticed, and that customer will never expand. Milestones are the markers. VVR is the speed between them.