Strategic planning is a mature, well researched area of study. Although much of the literature has focused on identifying a relationship between strategic planning and business competitiveness, none has yet shown a relationship between lack of planning and failure of firms. As a result many firms are either unaware of or fail to understand the importance of having a strategic plan for their business. When examining ICT firms many might argue that ICT SMEs do not plan as a response to a turbulent and unpredictable business environment. However, this paper insists that strategic planning is even more important under these conditions because it helps to predict opportunities, foresee trends and identify possible solutions to business problems. Three case studies from failed ICT SMEs are presented to highlight the strong relationship between lack of strategic planning and business failure. The analysis demonstrates that most challenges faced by these companies are related to a lack of strategic planning