"Unless you have a spectacular track record as an entrepreneur or an exceptionally great new business idea, you cannot raise capital without a business plan. I have invested in six start-ups and three of those were sold for a total of $2 billion. The other three went out of business."
Read article here
http://www.inc.com/peter-cohan/the-anatomy-of-a-killer-business-plan.html?cid=em01012week33
