What we look for

A founder's week is mostly decisions made without enough information.

People who have done hard before are ready for that in a way that is difficult to fake. Six things we watch for.

Finds a way

Makes a little go a long way without being asked to. Capital efficiency as an instinct, not a target.

Adapts before it is forced, and without drama. Most founders wait too long because changing course feels like admitting something.

The week everything slips, the team still knows what is happening. Composure is a communication skill before it is an emotional one.

Makes the call while the picture is incomplete, and owns it afterwards.

Earns trust quickly, having had to earn it somewhere harder.

Not stubbornness. Having done hard before, and knowing what the far side looks like.

Building a company may be the closest thing to a machine for producing adversity.

Hiring mistakes, products that miss, customers who leave, rounds that stall. Handled well, each one compounds into more of the same capital.

If you are as interested in this as we are

The long version — sources, counter-evidence and all. About 7 minutes.