This week, I wrote about college business plans that developed into successful businesses. But even if you write the best plan and win several prestigious business plan competitions, your success isn't guaranteed. Kelly King Anderson, 34, knows this firsthand. The Brigham Young University grad placed second at Wake Forest's nationwide competition and worked her way into the final 12 at Rice's global competition, and yet King Anderson's business plan for a children's experience retail store called Princess Sweet never came to be. Though potential investors liked her idea, it was still a risky one since it wasn't a high-growth business model. And King Anderson had become pregnant with her third child at the same time she was aggressively seeking funding, which became close to impossible to juggle.

But all was not lost for the spunky entrepreneur. "My startup dreams have come true, they're just different from where I originally started," says King Anderson. She now spends her days working from home on her blog, Start Up Princess, which she built to help other women entrepreneurs get inspired and have an outlet for advice and support.

In addition, King Anderson is spearheading a new segment of BYU's annual business plan competition focusing on home based business plans. She hopes this new category will help students, especially females, compete for startup money despite not having a high-growth business model.