A business plan should be presented in many scenarios such as loans, investments, working with partners and management team, also when selling your business. “Most banks require a plan, and even those that don’t strictly require it expect it. They expect it to be a summary of the business, with some predictable key points” (Berry.) Evidently most banks won’t take you serious if a business plan is not presented. As for investments, “the plan won’t get you the investment, but not having a plan will mean you won’t get investment. Investors require a business plan. They invest in the people, the idea, the track records, the market, the technology, and other factors; but they look to the business plan to define and explain the business” (Berry.)When partners are in the picture, a business plan is crucial because no one can read minds and people can forget, so plan is a great firm foundation both parties to rely on. Management team holds the same idea as partners. “The day-to-day business routine is distracting, problems come up, opportunities appear, and commitments should be followed and tracked. How do you know where you are in business…