Estimates say that as many as eight out of ten new businesses fail within the first eighteen months. More conservative estimates say that about half of new business start-ups are still in business four to five years later. In either case, the likelihood of business failure is very high. Studies prove that good planning practices more than double the chance of business success. Yet, the vast majority of small to medium sized businesses operate without a formal plan, and of those who do build a plan, only a handful carefully measure their targeted objectives and adjust their plans accordingly. Bu.