Haste can make waste when actions precede sufficient thought.
Sufficient thought implies a business plan. There is not enough time to prepare a business plan for every decision made throughout the day-to-day operations of a small business. Besides, not every decision warrants a venture appraisal or a formal business plan.
There is time to consider contingency plans for anticipated events or events that have a medium to high probability of eventually happening. For instance, you don't need to have had a major loss of information before you install backup procedures for your database. Or, when there are a series of break-ins in your area you review your security systems.
An immediate-response discipline, for handling most unforeseen events, can be developed in advance. This is a discipline that becomes a part of your instinctive reaction to surprises. It's a procedure not unlike the training given to prepare military and police personnel.
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Small Business - Time Management - Business Plans - Business Plan Coaching