That Crucial First Year

Your new business needn't be one of the countless ventures that don't make it to year two. Veteran entrepreneur Barry Thomsen offers tips

Barry Thomsen began his entrepreneurial career as a 10-year-old running a paper route and selling lemonade to workers at construction sites. From there, he sold Amway and Avon (AVP), delivered pizza, and started and owned a number of businesses that ranged from a small manufacturer to a business forms supplier. During the course of some 30 years as an entrepreneur, Thomsen has observed and experienced many of the problems that occur in the all-important first year of business—a period when the majority of new businesses fail.

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