Starting With a Plan
Your brilliant idea isn't enough. You need a good plan of action.
By Amy Rauch Neilson • May 5, 2006 Originally published Apr 4, 2002
Opinions expressed by Entrepreneur contributors are their own.
Who needs a business plan? Isn't it enough just to have agreat idea? Your winning idea is a good place to start, butit's probably not enough to sustain your business over the longhaul.
Dana Philen found this out while completing a class project withthe Entrepreneur Invention Society (EIS) in which she had to notonly come up with an original invention, but write a business planas well. The Atlanta teen invented the Walk 'N Train dogcollar, which combines a choke chain with a regular collar.According to Philen's plan, her invention could be more than aclass project--it could be the start of a successful business.
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