How do you identify talented founders apart from their schooling and work experience?
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First, a quick caveat.
A founder may be talented but their idea may not be right for a given investor. Or their business may not be VC-backable. So please don't think that being a "talented founder" automatically ensures you'll get funding.
That said, here's what our team looks for in founders:
- Speed of execution
- Focus
- Desire to keep learning + accept feedback
- The “must have”
Let’s break those down.
Speed of execution
Great founders have started selling (or pre-selling) by the time they start raising. And when they want to test something, they build a scrappy version and start collecting data right away.
Ability to focus
If a founder has 5 or 6 different ideas for how the business can make money, that’s a red flag. There are always going to be opportunities to try new things. It takes a special person to identify the biggest, best opportunity and go all-in on that.
Always learning
This trait tells us two things: 1) they are willing to try new things, even if it’s not their idea, and 2) they'll seek out people who are smarter than them, which will make the business that much better. A founder who thinks they have nothing to learn from other, more experienced people will likely their ego get in the way of the business.
The “must-have”
We wrote an article about this.