How would you define a good entrepreneur? is quite literally a million dollar questionif not multi-million.

Imagine for a moment that you are an angle investor. An angle inventor is a person that has some (okay, more like a lot of) extra money to invest in small, start-up companies. An angel could be your rich uncle, a friend, or a more seasoned angle investor that may even be part of an angel investor group that holds monthly meetings. When they hold theses meetings they review possible businesses to invest in. If the idea sounds nice and the right people are involved, then they will provide finding for the project.

So, now how do you tell if the right people are involved? Do they fit the definition of an entrepreneur? True, you can look at their entrepreneurial experience and see if they have been successful I the past, but doesnt a person have to start somewhere? Could you be missing out on a big opportunity if you turn down an individual who doesnt seem to have much experience starting a business?

I would conclude that you may very well be doing just that. However, when dealing with someone that has no track record, I would recommend assessing them according to the following:

1. How have they been with small commitments? If they are late or dont follow up on what they say they will do pre-money, they will be even more relax when you have committed to provide financial backing.

2. Only feed them a little at a time. You may give them the benefit of the doubt and provide them money. However, you dont have to give them everything right away. Set milestones and hold them to those milestones.

3. Ask for referrals. If they fit the definition of an entrepreneur, then people will have noticed.

4. Get to know the entrepreneur yourself. Do more then just sit through meetings together. Dont rush into a relationship that you might regret.

If you keep these things in mind and, as always, pay attention to your gut. Then you will be in good shape in finding the right kind of investment and finding those people that fit the definition of an entrepreneur.