Planning is an indispensable part of doing business. Having a business plan is crucial because it allows you to map out where you are and where you want to be. You can always refer to your business plan in the future to see whether or not your business is going in the direction you intended for it to go. If you were to build a house without a house plan this will lead to chaos. The same principle apply's to your business. This doesn't have to be a 20 page elaborate plan, but having that business plan is one of your critical success factors.