Assessing a team by its level of progress means asking if it is better than the day before? the month before? the year before?
As applied to investing in companies:
“My recommendation is that you should NEVER say no or yes to accepting startups or investing in them after the first meeting; the most woeful presenters might surprise you (and act on feedback you might give before the second meeting), and the most polished ones might turn out to be just only that, polished presenters with good documents, but no capability of execution.
Just that metric alone (PROGRESS) speaks volumes about the individuals in the team, their capabilities, their attitudes and their ability to execute. You get great insight into their thinking and can be a much better judge of the compatibility between the entrepreneurs and you. The very best startups of course, also update you during the course of the four weeks and can speak detailed volumes about the relevant way they progressed every aspect of their startups in the previous four weeks.”
Cyclist and nice view