This is how I understand version control, and I will make this description as simple as possible.
Start at version 1.0.0 - make that release the version you show the stakeholders
Then start adding features and fixing bugs.
Use the ABC rule.
When you fix a bug increase c by 1 (c+1). When you fix a few bugs increase c by 2 or more.
When you add features increase b and reset c. (b+1 c=0)
When you revise large sections of the code or you add features that will likely cause the program to become unstable increase a by 1 and reset both b and c (a+1 b=0 c=0).
If you do a complete code rewrite, rename the project. Example the first code was called project A this new project is called Project B and this is version 1.0.0.