Money gives us education, comfort, travel, recreation, merchandise, happy homes. It is the most beneficent influence in the world.

How to get money

A skilled money maker has acquired a wide knowledge of many subjects, such as efficient manufacturing, salesmanship, advertising, buying, display, organisation, management, office work, finance etc. He has studied the many causes that create a higher percentage of net profit. He does not merely work hard. He works with intelligence & technique.

Most people will not exert themselves to learn, to do hard work, to earn more money.

An ambitious man spends his money on acquiring knowledge. Then he spends money on travel.

A study of the lives of great businessmen shows that a career can begin anywhere. There is an old saying: “All roads lead to Rome.”

The first job does not matter. What does matter is how well it is done. The man who regards his work as something worth doing & who tries to do it better than it has usually been done — he is on his way to the higher levels.

Success comes from hard work, plus learning, thinking & planning. Whenever a business expands, there are new ideas & methods that need to be learnt. One must acquire enough new specialised knowledge to solve new problems.

The truth about opportunities is as follows:

1. It is true that there are plenty of opportunities lying about.

2. There are big opportunities for big men.

3. There are small opportunities for small men.

4. Every man should seize his own size of an opportunity.

When a man has built up his business to a certain point by hard work, he needs to work less & plan more. He must become an organiser & a staff trainer. His main work should then be to build up an organisation, & as far as possible to stand clear of the routine work. He will then give his business a fair chance to grow. The worst thing to do to save money at this stage is to try to do everything yourself. By ridding himself of routine, he has time to think & read & do creative work. The fact is that every business man who tries to make himself indispensable – who distrusts his helpers & meddles constantly with the routine work, is keeping his business small.

Probably, 95% of work in any company is routine work. It requires memory, not thought. It is more or less standardised work. But 5% of the work of the company is different from this. It is not routine work at all. It is creative work — thinking, planning & improving. The net profits of any firm depend more upon the 5% of creative work than upon the 95% of routine work.

The most efficient way to save is to buy up-to-date equipment. Tens of thousands of businesses are losing money every year by NOT spending.

Many men are VOLUME-MINDED. They have the delusion that selling is business. They say: “Give me volume & profit will take care of itself.” They sell on price. Their main object seems to be to take business away from competitors. They never know their costs. The road to hell is paved with the pursuit of volume.

Many manufacturers are PRODUCTION MINDED. They have small inefficient sales departments. The men at the top are usually engineers or chemists who under-value the art of salesmanship & the power of advertising. They may make high quality products, but they do not sell enough of them. It is a fact in industrial history that the inventor, by himself seldom succeeds. His work has to be supplemented (1) by the manufacturer and (2) by the salesman. Invariably, the inventor is a man of limited mind. He is self-centered. His mind is interested only in its own creations. He is out of touch with the public. His knack is not in selling nor in making money, but in working out some theory or idea of his own.

When the man at the head of the business keeps net profit always in mind, he does not run his business in the dark. He flood-lights his business & looks for the wastes, losses & opportunities.

“Potential” value is everywhere. Opportunities are everywhere. But there is never any real value until the right man arrives.

A speculator is seldom skilled in the art of management. He does not know the thousand & one practical things that a managing director should know. He is a man who enjoys taking risks. He cares nothing for “Safety First”. He is not interested in the technique of business-building. By taking the plunge, he often prepares the way for a business man, but he can seldom follow up a success by creating an organisation. Speculation & business require two different types of men. In all business there is a speculative element, but a competent business man tries to eliminate this element by his knowledge & skill.

If you pay a man, for heaven’s sake train him. Staff training is still one of the most neglected duties in business firms. The delusion still prevails that an employee is like a tool — finished & unimprovable.

The general belief is that customers must be pleased at any cost.

(Specially true for short-runs). That these losses must be accepted.

This is a wrong practice.

Caution: Many a really competent man is held back for lack of social qualities. He is self-centered. He does not consider the feelings of other people. Perhaps he has a sarcastic tongue & creates ill-will all around him by his gibes. Perhaps he is a know-it-all. He has contempt for any knowledge but his own. Perhaps he has a temper. He has no patience. All these defects cannot be regarded as insignificant. They have prevented thousands of men from being winners.

How to use money

Never invest your money in anything that you know very little about. If you have had no experience in retailing, do not start a small shop. Do not bet on yourself until you first get knowledge.

Have nothing to do with strangers nor with people who have previously been unsuccessful. As soon as you have money, you must become watchful. Keep clear of schemes unless you have a scheme that you thought of yourself, & which you have the ability to carry out yourself. Do not let family pressure make you lend money to relatives. Never go into a partnership, except with someone whom you have known & liked for at least 5 years & who has saved as much money as you have.

Wealth is a living thing. It needs as much care & attention as a living thing. It has diseases & may die if not cared for.

Prosperity is the best use of your HIGHEST POWERS.

An ambitious, efficient man should think first of creativeness, not happiness. There is a higher kind of happiness that comes to a creative man. There is a joy of achievement. The highest happiness eventually comes to the man who has not thought of his own happiness at all — who has aimed to do a big job that was worth doing. When a business man retires, he should retire with purpose. True happiness is possessed when we are working — even when we are struggling.

The right way to look at the world is to have these two purposes in mind:

1. To find people & ideas that will help you.

2. To find out what you can do to help others.