Business plans do not sell equity in a company.   Business plans communicate a story, a strategy for the company to become a high growth well run company.   An investor ready business plan will commuincate to an investor how they could see a return on their investment.   For some reason, early stage companies seem to think that all they need is a business plan.  They spend time and money creating investor interest, but can't get the investors across the goal line because they don't have the necessary documents to actually facilitate the transaction.  They need some sort of an offering memorandum to communicate the structure of the deal and the risks associated with the deal.  Then they need member operating agreements for LLC and subscription agreements for C corps.  Without these, they can't actually sell the shares.