Businesses succeed when the people and organization work towards their collective objective in a planful, measurable, trackable and iterative manner.
While most believe that businesses fail from being undercapitalized in their early years, research shows that failure to plan the business is the most often cited factor for business failure or stagnation. BP is the art of sketching the landscape and developing the focus and methodologies needed to succeed. BP is time and thought intensive. It requires patience measured with action steps. Good planning does not account for every contingency that the business landscape can toss a company's way. Good planning focuses the limited organizational resources on the most important goals while building the methodologies and systems to re-evaluate, change and take decisive action when things go awry. The successfully planned organizations have institutionalized the personalities and actions needed to overcome business obstacles.
Every Business needs a plan, its Contracts, Employment Benefits, Insurance, Accounting, Booking Keeping Processes. How to grow and how to avoid problems among many competing items. Each of these have legal impacts daily and good planning helps avoid legal problems and lawsuits with bad outcomes.