Lucinda Cross' virtual marketing assistance business went under over the course of two years because of her lack of planning, she said. "Lights were turned off, cars were repossessed, I moved in with my mother," she said. "It was a huge mistake, a six-figure mistake." However, Cross bounced back and opened a new business, called LC Associates. Along the way, she learned the value of developing a plan, assembling a team of advisers and improving her skills.