Definition: A plan that outlines a company that hasn't been started yet. These plans are meant to analyze the company before it forms in order to weed out bad ideas and present good ideas. Business plans are important for companies to get financed.
TeenAnalyst Advice: If you're thinking about starting a business, be sure to write a business plan. It'll give you a chance to figure out all the good and bad ideas about your business idea before you go ahead with it. Many people who write a business plan realize that their business won't work out or they'll realize more difficulties than they originally thought they'd face.
Also, if you want to get financed, you'll need to write a business plan. No one will loan you money or invest in your business without a business plan.