When it comes to investing in new business, you have to have the right entrepreneurial team. Nothing is more important. In fact, nothing is a close second.

Employers don't want government money - they want governments to provide them with the nation's talent.

I have seen too many business plans where the focus is almost entirely on "the numbers" ... I have seen none that directly address the ability of the team to deliver the plan.

Most business plans tend to be weak on at least one of three elements.
Not enough working capital!
Too many skill gaps - or too many chiefs!

Its all about a 'balanced score card' approach rather than the 'SWOT' that traditionally dominated business plans and can tend to create dangerous imbalance's.
[Businesses] need the customer at the center and lean thinking as the culture.
You are right to see the whole as the real deal breaker, too many fail if they do not.

Quite simply a good Management Team can rescue/save an ailing business and a bad Management Team can irrepairably ruin a good business. Whilst a business has to have sound fundamentals lets not forget, it is the Management Team that will implement the model and in my opinion there should be as much diligence on the Teams ability to deliver rather than just focus on the numbers and legals.

Great management teams mean more to investors than even greater business plans

9 out of 10 earlystage investments fail to deliver

The most common exit of MBOs is receivership

Many entrepreneurs behave as if the invention is all that matters

Early stage investors aren't interested in the technology behind most start-ups... I don't care how something works... but someone will buy it

There seems to be a widespread assumption that because a businessman is successful, intelligent and rich, he knows what he is doing; often this is not the case

Assembling a strong management team is cruical

A talented group of individuals isn't enough! You must be a team

Make changes [to your executive team] before you set out the deal - or at worst during the deal

Those business angels who perform at least some due diligence experience fewer failed investments

Predicting entrepreneurship from personality is flawed

When Business Angels took an active management role the failure rate increased

You are not looking for a situation where you know more than the founders - if that's the case, then the team is too weak

I've never seen a startup fail because the technology failed...failure consistently lies at the feet of the senior leadership team. Yet, Business Angels typically struggle to properly evaluate the soft skills of leadership...

...it is the attributes as much as the skills of the leadership team that will greatly determine success. From my research and experience, it is the Emotional Intelligence of senior management...their Self Awareness, Self Management, Social Awareness, and Relationship Management abilities