• A business plan is a summary of how a business owner, manager, or entrepreneur intends to organize an entrepreneurial endeavor and implement activities necessary and sufficient for the venture to succeed. It is a written explanation of the company's business model for the venture in question. Business plans are developed for ventures in both business and government.
• A business plan is a written description of your business's future. That's all there is to it--a document that describes what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you’ve written a plan, or at least the germ of a plan.

Contents and Elements required in a Business Plan

• Business plans tend to have a lot of elements in common, like cash flow projections and marketing plans. And many of them share certain objectives as well, such as raising money or persuading a partner to join the firm. But business plans are not all the same any more than all businesses are.
• The Following Necessary Factors Which Will Produce A Successful Business: A sound business concept, Understanding of your market, A healthy, growing and stable industry, Capable management, Able financial control, A consistent business focus.
• A business plan should include all the important matters that will contribute to making your business idea a success. These generally include the following: Your basic business concept., Your products and services and their competitive advantages.,  The markets you’ll pursue,  The background of your management and key employees, Your strategy and the specific actions you plan for implementing it., Your financial needs.