Spacing out: oops! Forgot to include something crucial in your business plan? So did these entrepreneurs

ARE YOU SURE YOUR WELL-THOUGHT-OUT business plan covers all the bases? As these entrepreneurs learned the hard way, something vital could be missing. Here's what they forgot--and what they learned from their mistakes.

* "We forgot to plan for the obvious, like who would watch our kids and clean our houses while we worked 18-hour days. And we should have included a chapter in our business plan about the effects of sleep deprivation on wholesome snack production. These are things you think you'll just figure out as you go but should really be discussed in the planning stages."--Lisa Coates, 35, who launched Monkey Muffins, a Nyack, New York, maker of wholesome children's snacks, with partner Robin Rarrick, 42

* "My business is in New York City. However, when I compiled my annual financial projections, I did not include New York City's tax rate in the business plan's annual tax calculation. This made it more difficult for us to reach our annual net profit goals. Fortunately, in 2003, we exceeded our net profit by 3 percent--after paying the [city] taxes."--Clay Siegert, 29, who launched board-game business Intellinitiative with co-founders and siblings Anne Siegert, 27, and Evan Siegert, 25

* When Tom Szaky set out to produce an environmentally friendly way to handle garbage, the idea didn't quite work out as planned. The plan was to have worms consume the garbage--and it worked, until he and his business partner realized they hadn't factored in the huge amount of worm excrement they would have as a byproduct. "Only at the end [did we realize] it could grow plants well. The liquid [fertilizer] turned out to be profitable, and [that became the core of the business]."

--Szaky, 22, who founded TerraCycle, a Princeton, New Jersey, company that makes products out of waste materials, with Jon Beyer, 21

--N.L.T.

Because dog breeds are judged simultaneously in different rings, there is often a need for multiple photographers. Before you get started, however, you should:

* Talk with entrants at these shows. Ask how often they need photographs and if they're happy with the photographers they've used in the past.

* Listen to theft complaints. How can you provide photos better, faster or cheaper than they're getting them now?

* Watch your competitors in action. Noting the things they do--or don't do--can help you satisfy future customers.

* Do some research. Check out magazines and Web sites (such as www. showdogsupersite.com) that cover championship events for other markets.

* Broaden your scope. To make enough money, you may need to branch out and cover horses, birds, fish and other pets. You could also expand what you offer to include videos, DVDs, and portraits of animals with their owners at their homes.

Authors and career coaches Paul and Sarah Edwards have written 15 books, including Working From Home. Send questions to www. workingfromhome.com or in care of Entrepreneur.

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