Evolution is an extremely important process. From evaluating the right employees to evaluating the right investors, this is an intricate process that deserve the founder’s attention. I believe, what is most important is looking inward towards your business first. You need to know the company values, goals, and mission to really demand and set standard to a particular evaluation process.
What are some evaluation criteria that the founder should adopt? I think the most important things is familiarity with the product, service, or industry you are in. I believe this is important because it allows for the individual, whether it be an investor or early employee, to be emotionally involved in the business. Another criteria that I think is important is willingness to sacrifice and be selfless. If the individual has these qualities, then success is more obtainable. The startup process is about growing, adapting and failing to achieve success. With the willingness to sacrifice and be selfless this will elevate the company that much more.
Lastly, the criteria I believe is important in the evaluation process is proximity to the product or service. Whether that be physical or business wise, proximity to your business is key when evaluating talent. This allows for more of a streamline way of doing business and buy in.
Amis, D., & Stevenson, H. H. (2001). Winning angels: the seven fundamentals of early-stage investing. London: Financial Times Prentice Hall.