This is one of the most critical aspects. A strong management team in a weak business is arguably a better bet than a great business being taken over by a poor management team.
You will need to demonstrate that your team is more than capable of running and growing the business, ie has the right spread of skills and necessary experience. A typical MBO team is made up of the following elements, consisting of 3-4 people usually:
- Managing Director
- Finance Director
- Sales Director
- Production/Operations Director
If you can’t cover all these aspects it may be possible to fill the gaps with an external candidate. The VC team or your advisor may be able to help find the right person. The above team is also not prescriptive. The key is to involve all significant members of management and this will vary case by case.