DON’T MISTAKE YOUR VOCATION
Selecting a vocation which is most congenial to your tastes is the safest plan for a man to succeed. More often than not parents admonish their children on the vocation to pursue, regardless of children’s natural inclinations, or genius.
“Unless a man enters upon the vocation intended for him by nature, and best suited to his peculiar genius, he cannot succeed.
SELECT THE RIGHT LOCATION
After securing the right vocation, you must be careful to select the proper location. Do not commence a business where there are already enough to meet all demands in the same occupation.
AVOID DEBT
Young men starting in life should avoid running into debt. There is scarcely anything that drags a person down like debt. It is a slavish position to get in. Borrowing and repaying, repeat is adopting a habit that will keep you in poverty. “Debt robs a man of his self-respect and makes him almost despise himself. Grunting and groaning and working for what he has eaten up or worn out, and now when he is called upon to pay up, he has nothing to show for his money; this is properly termed “working for a dead horse.”
“If a young man,” he says, “will only get in debt for some land and then get married, these two things will keep him straight, or nothing will.” That is commendable but getting in debt for what you eat and drink and wear is to be avoided.
The creditor goes to bed at night and wakes up in the morning better off than when he retired to bed because his interest has increased during the night, but you grow poorer while you are sleeping, for the interest is accumulating against you.
When interest is constantly piling up against you, it will keep you down in the worst kind of slavery.
There is nothing animate or inanimate that will work so faithfully as money when placed at interest, well secured. It works night and day, and in wet or dry weather.
You must have determination and go-aheaditiveness to succeed, you cannot allow the ‘horrors’ to take possession of you, so as to relax your energies in the struggle for independence if you do so some bolder hand will stretch out before you and get the prize. Dealing with a slack hand makes one a poor, diligent hand makes one rich
WHATEVER YOU DO, DO IT WITH ALL YOUR MIGHT
Work at it, if necessary, early and late, in season and out of season, not leaving a stone unturned, and never deferring for a single hour that which can be done just as well now.
The old proverb is full of truth and meaning, “Whatever is worth doing at all, is worth doing well.” Many a man acquires a fortune by doing his business thoroughly, while his neighbor remains poor for life because he only half does it. Ambition, energy, industry, perseverance, are indispensable requisites for success in business.
DEPEND UPON YOUR OWN PERSONAL EXERTIONS
A man may be a manufacturer: he has got to learn the many details of his business personally; he will learn something every day, and he will find he will make mistakes nearly every day. Learn details of your business, sure you will make mistakes but you will gain experiences if you heed them.
I hold that every man should thoroughly know his business.
Rothschilds said, “Be cautious and bold.” Meaning, you must exercise your caution in laying your plans, but be bold in carrying them out.” A man who is all caution will never dare to take hold and be successful, and a man who is all boldness is merely reckless, and must eventually fail.
You must have both the caution and the boldness, to insure success.
The Rothschilds have another maxim: “Never have anything to do with an unlucky man or place.” That is to say, never have anything to do with a man or place which never succeeds.
USE THE BEST TOOLS
If you get a good employee, it is better to keep him, than keep changing. He learns something every day, and you are benefiting by the experience he acquires. He is worth more to you this year than last, and he is the last man to part with, provided his habits are good, and he continues faithful. The art of money getting demands the use of best tools available.
If the best employee thinks he is so invaluable and indispensable and starts demanding an exorbitant increase in salary, he is good for nothing and he should be discharged to show him his place can be supplied.
An important element in an employee is the brain. Brains and experience are the most valuable and not to be readily parted with; keep them, at reasonable advances in their salaries from time to time.