Purpose is an explanation, so I would evaluate it as to whether their purpose satisfies some basic criteria of good explanations. You’ve highlighted one aspect: how would you quantify or measure it? Does their purpose connect to their lived reality? To what extent have they devoted their time and resources to it? If it’s an aspirational purpose (for example, a tech entrepreneur as a new entrant in healthcare), can they relate their aspirations to their life (e.g. the health of a loved one)?

But this empirical aspect is only one criterion, and certainly not the most illuminating. More importantly, is their purpose coherent, which is to say, does it fit within broader communal or societal purposes? An entrepreneur doesn’t need a nation, but she will need to identify how her purpose will connect to likeminded people and motivate those people to action.

I would also consider whether their purpose can be expressed in functional terms. I wouldn’t expect an early-stage entrepreneur to have a precise formulation of their solution, but I would expect their purpose to be deep enough to support a functional frame ( if only provisional). To return to the example of the tech entrepreneur in healthcare, how do the aspects of their technology capabilities, their healthcare purpose, and their innovative vision relate? In my experience, these questions often surface gaps in their experience or market research that should be addressed prior to financing.

If you’re interested, I’ve documented my own evolving experiences in this area as The Terrifying Clarity of Purpose. The differences in these graduations of purpose are stark.

Thanks for asking.