Chapter 2: Starting in Business:

Why Men Fail—Luck on the side of

Pluck—Marking the Day’s Profits
Before they Begin—No Diamond Like
the Eye—The Man Who Takes His
Bank to Bed With Him—The Two
Hands of Fortune.

Many men fail because they

undertake a business without
considering whether there is room for
it; others because they do not
thoroughly establish themselves in
the place, making no effort to get a
constituency; and yet others because
they do not keep the goods that are in
demand, or do not renew the stock
sufficiently quick, or do not present
their goods in an attractive way. Such
causes of success or failure as are in
the line of this work will now be
considered. Here are the rules of an
old merchant which he would take for
his guidance were he to start anew in
business:

12. The Minimum Basis.—Enumerate

the entire number of heads of families
in the town, village, ward, or
neighborhood where you purpose to
begin business. Figure out the number
of such persons you will require as a
minimum basis in order to get on—
that is, how many persons or families,
spending each on an average a
certain amount per day or week at
your place of business, you will
require in order to make a living. Do
not go blindly into your work, trusting
to luck. Luck is always on the side of
pluck and tact. Determine what per
cent. of the people’s patronage is
absolutely essential to your success.
The first step is to ascertain if such
per cent. is likely to come to you.

13. The House to House Canvass.—

Make a personal canvass from house
to house. Do not trust the work to your
friend, relative, or clerk. Nobody can
help you so much as you can help
yourself. Nobody has your interests
so much at heart as you have. Tell
people pleasantly that you are a new
bidder for their patronage. Inform
them what you propose to do. Make
them to understand that no man shall
undersell you, or give them in any way
a better bargain. If possible, take a
few samples of your choicest goods
with you.
14. The Choice Location.—If you
become popular, the people will come
to you; but at first you must go to
them. Your place need not be central
or on a corner, but it must be where
many people pass. Step out largely
and conspicuously. You could make
no greater mistake than to rent a
shabby place on a back street. Have
out all manner of signs, curious,
newsy, and alluring. Do not think to
sustain yourself by people’s
sympathies. Men will trade most
where they can do best.

15. The Maximum Basis.—The

maximum basis is the high-water
mark. It is the number of persons or
families that under the most favorable
state of things can be your patrons.
All you cannot expect. Kindred,
religion, politics, friendships, and
secret fraternities, will hold a portion
of the community to the old traders.
The sharpest rivalry will meet you.
Also, you must consider what
incursions are likely to be made by
out-of-town dealers, and what
prospect there is of others setting up
business in the place. But you should
have an ideal trade toward which you
steadily work. Declare daily to
yourself, “my gross earnings shall be
$—per day,” or “—— (so many) persons
shall be my patrons.” When you fall
below the mark, bestir yourself in
many ways.

16. The Personal Equation.—

Remember that you yourself in
contact with your customers count for
more than anything else. The weather
of the face, the temperature of the
hand, the color of the voice, will win
customers where other means fail.
Make your patrons feel that you are
their friend. Inquire about members of
their family. Be exceedingly polite.
Recommend your goods. Mention
anything of an especially attractive or
meritorious nature you may have. Join
the church, the regiment, the fire
company, and the secret society.
Become “all things to all men, if by
any means you can sell to some.” Be
everywhere in your place of business.
Oversee the smallest details. Trust as
little as possible to your clerks. The
diamond of success is the master’s
eye. Remember there is no fate. There
are opportunity, purpose, grit, push,
pluck, but no fate. If you fail, do not
lay the blame upon circumstances,
but upon yourself. Enthusiasm moves
stones. You must carry your business
in your brain. “A bank never gets to be
very successful,” says a noted
financier, “until it gets a president who
takes it to bed with him.” There was an
angel in Michael Angelo’s muddy
stone, and there is a fortune in your
humdrum store. Hard work and close
thought are the hands that carve it
out.