Management Management is the name of the game. You can have a great product, and if your management team is not very good, the company will fail. You can have an average product and if your management knows what it is doing, the probability of success is high.
Most investors look at resumes right behind the product idea.
Some investors want to see resumes before they see a business plan. Historically the companies that already have a management team in place are the first to get investors on board. When a new company comes into our offices, we look to see the capabilities of the management team and work with them to fill the spots needed in order to have the best opportunity for success. Companies who take the position that if they had the money they would find the management have difficulty in finding funding. The real process is to come up with a great idea, bring people to that idea and build your team.