Start-up companies financed by venture capitalists have a much lower failure rate than companies financed by other means. Source of financing, ttherefore, must be a more important causative factor in the success of a start-up company than are such factors as the personal characteristics of the entrepreneur, the quality of strategic planning, or the management structure of the company.
The statement 'The strategic planning of a start-up company is a less important factor in the long-term success of the company than are the personal characteristics of the entrepreneur' most seriously weakens the argument above.