Two Harvard Business School graduates have found success by building an online shopping network with more than 3 million users.
The Financial Times reports that Alexis Maybank, 35, and Alexandra Wilikis Wilson, 33, bypassed the normal process of creating a business plan and created a short presentation to investors. Mybank says that she and her colleague didn’t have time to write a long business plan.
“You could have taken a good month to write a beautiful 40-page business plan, but you could have lost a critical month in getting your product to market,” says Ms. Maybank, who adds that competition was coming quickly. “You don’t really know how an idea is going to take off before putting it in front of customers.”
The two women, who graduated HBS in 2004, decided to start the business after looking through clothing at New York’s sample sale, held annually.
Other members of the Harvard Business School community will soon get their chance to try and create a successful company. HBS recently announced that it was launching a $50,000 fund in order to help students create proto-types for companies.
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