New Ulm weekly review. [volume] (New Ulm, Minn.) 1878-1892, 1879-08-27
Hints to Business Men.

Hints to Business Men.
To be successful in business it is
necessary to be economical to figure
carefully in every transaction, and cut
OF all expenses not absolutely essen
tial. This rule, though applicable to
all, addresses itself especially to be-
ginners. In q new business q thou-
sand dollars is of as much utility as
double that amount in an old one, with
q good reputation for integrity. Cash
must figure largely in initial pur-
chases to insure confidence and secure
favorable terms. In subsequent trans
actions, the reputation for reliability
and integrity that has been established
may safely be relied upon to answer
almost as good 8 purpose for brief
season as cash itself.
Good management is the most 20
tential agency of all in conducting any
and all kinds of business to success.
Look about you, and you can scarcely
fail to see, no matter in what CITY or
town you are, men who appear to be
morose and unpopular, but who are
nevertheless remarkably successful.
Their morOsenoss and unpopularity are
positive drawbacks in keeping busi-
ness away from them, but their close
attention to duty, their admitted integ-
rity, and their excellent management
overcome all. and they get rich.
Let the people say what they like
about no man being able to grow
wealthy nowadays without being dis
honest. That statement, frequently
repeated though it be, is void of truth.
Honesty in business transactions, where
the public has to be dealt with, is alb
solutoly essential to success. If hon
esty is not practiced, confined to small
operations though it be, the fact will
sooner or later be discovered, and Gus
tom will dwindle away from that mo-
ment. In public and official life,
where dishonesty does not address
itself to the immediate cognizance of
people, and make itself felt directly by
them, it has too frequently prospered
and led to the acquisition of wealth,
but it can scarcely ever do so in bust
ness. @ s"
Another important adjunct to sue
cess is reliability. A mans word read
lily becomes an important auxiliary for
his bond, If not substitute for it.
When people grow into the habit of re-
garding Q mans word as certain of
punctual fulfi!lment, they will by easy
gradations learn to regard his note as
inevitable of it.
Never run up big bills with employees
unless they so desire. If you do, in
difference as to their work will grow
upon them. They will become care
less about holding their positions.
They will not feel inclined to do their
work with the earnestness and vim
that would characterize them if they
did not feel quite SO independent.
When an employer settles up these
bills promptly, large numbers of COM
potent persons are always anxious to
enter his service, and this conscious
ness makes him quite independent and
exercises, at the same time, very
salutary influence upon the conduct of
his employees.
In making purchases from wholesale
merchants or manufacturers, an ex-
perienced buyer, as Freddy says, is
usually q person of very few words,
but of clear observation and method
ical habits. Such a man prepares q
memorandum of what he wants to
buy, and does not trust himself in the
excitement of the market without it.
He scans the newspapers containing
advertisements of firms that deal in
the commodities which he wants to
buy, notes what they have to offer,
and informs himself respecting their
reputation for reliability, fair dealing,
and disposition to consider the inter-
ests of their customers as we'll as their
own.
When he needs whole. case or bale
of one kind of goods, he endeavors to
procure it from the manufacturers
agents, if possible; but, as general
rule, he understands it is cheaper to
pay the wholesale Dealers profit than
to buy more of any one kind of goods
than he can advantageously dispose of.
Before he purchases he explains to the
seller how he proposes to pay, whether
in cash or by note, and, If part cash
and part credit, what proportion of
each. In his demeanor during the
negotiation, a good buyer is courteous
and gentlemanly, not harshly critical
of what the seller commends, know
ing that bargains are not given, nor
concessions in price made, to Disagree
able customers.
Where it is feasible, it is good policy
to adopt the system of making up q
detailed list of articles wanted, and
solicit proposals for furnishing them.
Finally, where there is not full oppor-
tunity for examination, or there is
room for doubt, a good buyer always
demands q guaranty that the merchan-
disc is what it is represented to be-
Pomeroy's Democrat.