Heather Smith and Katie Jones are launching a personal finance software company. They conducted a thorough feasibility analysis, and are now working on their business plan.

Heather just sent you an e-mail message. The subject line of the message read, “Are we jumping the gun?” In the message Heather tells you that the plan is going well, but she and Katie have had to rewrite certain sections of the plan several times because they keep coming across new information that impacts the way they’d like to structure their business. Heather wants to know if this is normal, or if they should have had a more definite picture of what their business would look like before they started writing the plan.

What would you tell Heather?.