On Target
On Target
By Mark Henricks
Entrepreneur's StartUps
February 2007
Bypass some of the most common mistakes made by startup entrepreneurs, and you’ll zero in on a better business plan.
Jessica D. Herrin’s first experience presenting a business plan to investors taught her many lessons, including a hard-knocks course in humility. During the dotcom boom, Herrin’s plan for an online wedding gift registry called for selling products directly to consumers and also through retailers. Herrin, a business school student at the time, lacked wedding industry experience, so she didn’t know retailers would never support a startup that competed with them. "When we presented the plan, people looked at us like we were crazy," Herrin recalls.
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