I found this “Great Founder Checklist” via Y Combinator’s Investor School:
How many do you meet?
A great founder:
1. Has clear and concise communication, demonstrating a depth of understanding and clarity of thought.
2. Moves fast!
3. Accomplishes a lot with a little.
How much can you get done with no money?
4. Has an idea that is implausibly ambitious, or seemingly frivolous. If it’s somewhere in the middle, there’s probably a lot of competition. The best investments aren’t obvious.
5. Is a talent magnet. The best want to work with the best.
6. Makes something people want. Clearly a good sign :).
7. Is determined and committed. Start-ups are hard and unpleasant, if you’re not determined, you will probably give up. What to watch out for: are they hedging their bets? What is their plan B? If so – avoid. Have they made mistakes in their life? Be nervous about “perfect” people who have never failed. Founders cannot be scared of failure!
Credit to angel investor, Paul Buchheit.