The Wilmington morning star. [volume] (Wilmington, N.C.) 1909-1990, 1945-07-13
Babson Advises Parents
OF u. S. Service Men
By ROGER w. BABSON

BABSON PARK, Mass, July l5.
Too many returning service men
want to 60 into business for them
selves. This is a good sign OF init
active, independence and enter
prise; but let me warn such that
starting business of ones own is
serious and risky matter. Better
buy into a going business;-if pos
sible one in which ones family is
now engaged.
PIONEERING VERY DIFFICULT
Pioneering is profitable when 1t
succeeds, but such success reqr res
patience, hard work and sacrifice.
Besides, one should have sufficient
capital to carry him through sew
eral years of struggle. 1t is be-
lieved that over 80 per cent of the
people starting new businesses fail.
This statement applies not only to
developing new kinds of business,
but also to starting new factories
or opening new stores in competi-
ton with existing factories and
stores.
The great mass of people are
actuated by their acquired habits.
They tend to purchase at the same
store, year in and year out. al
though other stores may give better
service. They buy the same kind Of
food, shoes and household goods
even though better products arc in
the market for less money. They
read the same newspaper and mag
azines, making it very difficult for
a new publication to get a foot
hold. Established habits make it
especially hard for new concerns.
Need Of More Education
OF course, there are enough ex-
ceptions to the above rule to bait
on newcomers who try to do like
wise. The few successful new firms,
like the few winners in lottery,
keep people continually Starting
new businesses. 1 am strongly in
in favor of helping the small bust
nessman who is already operating
small factory of retail store. But
l do advise parents of returning
veterans to warn their sons agalnct
trying to be pioneers unless they
nave great patience, good health
and sufficient capital. Better buy
an established business. But to Sue
coed in any business man should
have business education.
Therefore, returning service men
should go to some school to learn
tae basic principles of business or
else get a job which will enable
them to lean such principles. 1t
is great mistake to go oft into
the postwar business world without
first studying Economics, Account
ing. Distribution and Production
whether you are to have business
of your own some day, or are al
ways to work for some one else.
Ayalyze Your Sons
Every returned service man
should analyze himself and deter
meme for what he is best fitted.
Here are the six main groups:
Cd The Professions, such as med
icine, law and the ministry. (2>
Engineering, including chemistry
and electricity. 90 Real Estate,
i, building and construction work. a.
Agriculture, forestry and horticul
ture. 90 Manufacturing, designing
, and assembling. (6) Merchandiz
ing, advertising and promotion. But
| to succeed under competitive post
t war conditions, in any one of these
groups, a man should have
, years education in business.
< To help returning service mer
} get such a business education thu
U. S. Government will give $500
per year for tuition and $50 month
| for board and lodging. with per
FALSE TEETH