Businesses are likely to fail within how many months without a proper plan?

A significant number of businesses that lack a proper planning strategy often experience difficulties within the first 18 months of operation. This timeframe reflects the critical period during which entrepreneurs refine their business models, establish their customer base, and navigate the initial challenges of running a business. Without a well-defined plan, organizations may struggle to allocate resources properly, manage cash flow, and make informed strategic decisions, which can lead to early failure. The 18-month mark serves as a crucial juncture where many startups either succeed in overcoming initial hurdles or fall short, underscoring the importance of planning in the early stages of a business's lifecycle. In contrast, the other timeframes, such as 12 months, 24 months, and 36 months, either underestimate or overstate the timeline in which businesses typically face critical challenges without a coherent strategy.