A first class plan is essential in assisting new ventures as they evolve from idea to reality, or to map out the future direction of an existing business.

The plan needn’t be overly long and certainly shouldn’t be written to fit a predetermined template.  It must be crafted and tailored to peak the interest of the intended audience.

Think of the scenario with a venture being hatched in the garage, looking for its first sale.  Compare this to a new business unit being planed for a multinational conglomerate.  Both need structure and funding, yet both have vastly different perspectives.  One will be pitched initially to family and friends, the other to a hardened board of directors.  And in between there is a myriad of other scenarios including the the need for professional investors, or further rounds of capital injection to fund growth, or the launch of an IPO.

Business planning in 2010 is about identifying the means at your disposal.  It is about exploring your identity, your knowledge base and your social networks to set the frame for possible outcomes.  It is about recognising a level of affordable loss (not just expected returns), building strategic partnerships and having contingencies to deal with unexpected events.

Through research, reflection, constant reviews and revision, business plans must present financial drivers and evidence of the venture’s credentials.

The AMR Commercial approach to business planning enables the consideration of multiple outcomes and encourages the exploration of possibilities.  It is about creating the future, not trying to predict it.  This process is integral (but not sufficient on its own) in bringing a new venture to fruition, or for an existing enterprise looking to the future.