There are various factors that lead to a successful business plan. Here are some of the more important ones:
The business plan is properly organized with a logical structure so the reader can easily navigate the business plan.
Ideas and information are presented clearly and concisely.
The business plan illustrates managements ability to run and make the business a success.
The business plan is realistic, believable and based on solid analysis.
The business plan shows sustained growth and profitability.
Good cash flow. Cash flow is critical in it's importance. It is often misunderstand to mean profits. Lots of profitable companies go under because of cash flow problems.
Implementation strategy. How are you going to achieve what you are planning and projecting? This is where the plan forces you to become realistic and show how you are going to actually come up with results.