Having a well thought-out business plan doesn’t guarantee success for your new business. Things won’t always go your way and you can’t control everything that might affect your fledgling enterprise. But if you don’t have a sound business plan, which details your goals and strategy, you’re significantly more likely to fail.
Planning should never be rushed or insufficiently informed, but rather the result of sound research and careful consideration. Bad planning can ultimately result in business failure. At the very least, your business might not grow as quickly as you want or in the way you hope.