Doing DIY legal for your business is like doing DIY earthquake prevention for your business. Chances are, if your business is going to fail, it'll probably fail because you're out of money, time, customers, employees, etc., not because of legal troubles or earthquakes... furthermore, there are tons of small businesses who are of a dubious legal / earthquake preparation, but nevertheless make money and do fine for a really long time. But when a major earthquake or lawsuit does occur, you're probably going to lose everything without proper earthquake / legal protection (you might still lose everything with proper earthquake / legal protection).

So should you do your own legal? Yes if you're <20 employees, no if you're >40 employees or you're putting your business through a hype-generator and you've generated hype or you think the law profession is somehow worshipful and you're cowed by lawyers.