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Starting With a Plan

Your brilliant idea isn't enough. You need a good plan of action.

This story appears in the April 2002 issue of Teen Startups.

Who needs a business plan? Isn't it enough just to have a great idea? Your winning idea is a good place to start, but it's probably not enough to sustain your business over the long haul.

Dana Philen found this out while completing a class project with the Entrepreneur Invention Society (EIS) in which she had to not only come up with an original invention, but write a business plan as well. The Atlanta teen invented the Walk 'N Train dog collar, which combines a choke chain with a regular collar. According to Philen's plan, her invention could be more than a class project--it could be the start of a successful business.

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