The error of not clearly explaining the opportunity was more glaring to the venture capitalists, and they tend to draw conclusions about the management team after meeting them. One interesting response was that the entrepreneur failed to provide the name of anyone in the company to contact after finishing reading the plan. If you don't have a business plan and are a little overwhelmed by the prospect of completing one from scratch, there is help. There are consulting firms and accounting firms that specialize in assisting companies with their business plans. You can do it yourself and do a good job, but writing your plan is time consuming and not easy to do if you've never written one before.
Some people simply have difficulty expressing their thoughts on paper.
Most entrepreneurs focus on the attributes of their products and ignore their competition. They also assume that customers will come to them with a minimal marketing effort. However there are also sources that that provide free help or at a minimal fee. Try your local city's Small Business Programs Office or Small Business Assistance Office. Your state department of commerce may have an office to assist you or even provide a publication devoted to small business or starting a small business.