Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1916-05-04


five years ago, three years ago. 1t is
different all the time.
1T Is played so close that you fig
uratively match razor points. Is yours
| dull, blunt or nicked with Anticipated
! business methods or Is it bright, sharp
and shining with modern ideas?"
Get Down to Level.
The speaker then took up the atti.
tude Of many people against univer.
sity man coming to tell a business
man how to run his business. Again
he emphasized the fact that he was
not theorizing but giving actual facts
as they have been proven by other
business men in Iowa and other states.
He said that it was necessary for the
school man to get on the business
mans level, put their heads together,
talk over the problems and try to find
way to solve them. The university,
with it's adequate means and profiting
by the experiences Of others in the
same predicaments, would be quail
fled to help. A few years ago a col
lege man was looked upon as high
brow; not one who could tell bust
ness man any thing practical. He was
called theorist. Today his position
has changed. Men are coming, more
and more every day, to realize the i'm.
portance of training along this line.
Eliminate All Waste.
Among the economies of efficiency
Is the elimination of all waste. This
must be carefully watched. Then
comes organization. The human fac.
tor plays a big part in this" continued
hov
among your employees to bring about
the best results. You can't succeed un.
less you have their enthusiasm, their
loyalty and their interest.
"Then there is system. If you don't
have 1t you are like a ship without
rudder. You can't keep afloat in the
sea of competition unless you have
this rudder either.
Customer Is Important.
"Your customer Is one of the most
important items you have to consider.
It Is your customer who is the Judge.
It is the customer who Is the king;
not you. He 1t is that decided whether
you and your store shall succeed or
not.
"You must watch the costs. You
must know what it costs to run your
business. There must be property
system there and service is another
one of the important items.
Discusses salesmanship.
c. F. Kurtz, Of the university ex-
tension department, discussed sales
manship with the men for an hour to-
day. He said in part:
"The place to begin in making a
study Of retail merchandising is with
the town. In this connection the uni
versity advises study or an inven-
tory of the demand possibilities of
the community served. We have
means of ascertaining just the amount
Of money should be in circulation in
town or city.
IF for instance, we know that the
per capita for consumption of shoes
in the state of Iowa is SO in a town of
5000 population, with this town serv-
ing 1000 additional, making 1000 in all
the amount Of money that should be in
for shoes would be $4,000.
If my shoe business on the basis of
capital invested represents one-eighth
or one-fourth of the business of the
town it is very easy for me to calcu-
late what my gross sale should amount
to. It is an interesting study to trace
the evolution of retailing.
I'VE may explain the chain store,
the department store and the mail or
der house if we have made a compre-
hensive analysis of the principles gov
erning the merchandising operations.
The chain store was made possible
by perfecting the permanent inven-
tory. by this means absolutely accurate
records may be kept Of the business
of thousand stores,
these records being kept at the central
office and by keeping tract of tho
goods that go into the various estab-
lishments and the goods that go out
In the form Of sales there is no chance
for theft without detection, no chance
Of accommodating dead stock without
It's being known, no chance OF over
looking accounts and above all it
makes it possible to increase the
of business done on stated
capital.
"a thorough knowledge Of the turn
over made the department store pos
sible. The turn over is the device by
which gross profit Is turned into a
net profit. For instance, if store
lid business of $4,000 over and above
he business of the previous year the |
question is what additional expense |
his business could be transacted on.
Assuming that the over head expense |
vas Is per cent and the profit 10 per :
cent it stands to reason that the addi-
ional $4,000 in business could be
transacted on considerably less than
he original over head which was Is
per cent. The probability is that 1t
would be cut in half or go even less.
Whether you know it or not your
store policy Is the handspring of your t
establishment. How many Of you men
could write for me the policy by
which you are shaping your business
activities? 1t saves much time and
rouble to have a policy that is gen.
orally understood about your estab-
ishment. The business men of this
section are more progressive than the
business men of any other section Of
he country.
1.-THE problem of the extension divis. |
on of the state university is to keep |