Newman's Own is now a major brand in supermarkets, with sales exceeding $100 million annually and profits of more than $12 million. Since its start in 1982, Newman's Own has given all its profits--more than $137 million--to charity and established the Hole in the Wall Gang camps for kids with serious diseases. But its humble beginnings offer lessons for any entrepreneur. Like many rookie proprietors, actor Paul Newman and his sidekick, the writer A.E. Hotchner, had a good product (the actor's homemade salad dressing) but lacked the experience to launch it in the hotly contested world of packaged goods. In this...
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