Money, Yes; Hell, No!

Make Money - Ask for Collateral!

MAKE MONEY - DON'T INDORSE WITHOUT SECURITY

    I hold that no man ought ever to indorse a note or become security, for
any man, be it his father or brother, to a greater extent than he can
afford to lose and care nothing about, without taking good security.
Here is a man that is worth twenty thousand dollars; he is doing a
thriving manufacturing or mercantile trade; you are retired and living
on your money; he comes to you and says:

    "You are aware that I am worth twenty thousand dollars, and don't owe a
dollar; if I had five thousand dollars in cash, I could purchase a
particular lot of goods and double my money in a couple of months; will
you indorse my note for that amount?"

    You reflect that he is worth twenty thousand dollars, and you incur no
risk by endorsing his note; you like to accommodate him, and you lend
your name without taking the precaution of getting security. Shortly
after, he shows you the note with your endorsement canceled, and tells
you, probably truly, "that he made the profit that he expected by the
operation," you reflect that you have done a good action, and the
thought makes you feel happy. By and by, the same thing occurs again and
you do it again; you have already fixed the impression in your mind that
it is perfectly safe to indorse his notes without security.

    But the trouble is, this man is getting money too easily. He has only to
take your note to the bank, get it discounted and take the cash. He gets
money for the time being without effort; without inconvenience to
himself. Now mark the result. He sees a chance for speculation outside
of his business. A temporary investment of only $10,000 is required. It
is sure to come back before a note at the bank would be due. He places a
note for that amount before you. You sign it almost mechanically. Being
firmly convinced that your friend is responsible and trustworthy; you
indorse his notes as a "matter of course."

    Unfortunately the speculation does not come to a head quite so soon as
was expected, and another $10,000 note must be discounted to take up the
last one when due. Before this note matures the speculation has proved
an utter failure and all the money is lost. Does the loser tell his
friend, the endorser, that he has lost half of his fortune? Not at all.
He don't even mention that he has speculated at all. But he has got
excited; the spirit of speculation has seized him; he sees others making
large sums in this way (we seldom hear of the losers), and, like other
speculators, he "looks for his money where he loses it." He tries again.
endorsing notes has become chronic with you, and at every loss he gets
your signature for whatever amount he wants. Finally you discover your
friend has lost all of his property and all of yours. You are
overwhelmed with astonishment and grief, and you say "it is a hard
thing; my friend here has ruined me," but, you should add, "I have also
ruined him." If you had said in the first place, "I will accommodate
you, but I never indorse without taking ample security," he could not
have gone beyond the length of his tether, and he would never have been
tempted away from his legitimate business. It is a very dangerous thing,
therefore, at any time, to let people get possession of money too
easily; it tempts them to hazardous speculations, if nothing more.
Solomon truly said "he that hateth suretiship is sure."

    So with the young man starting in business; let him understand the value
of money by earning it. When he does understand its value, then grease
the wheels a little in helping him to start business, but remember, men
who get money with too great facility cannot usually succeed. You must
get the first dollars by hard knocks, and at some sacrifice, in order to
appreciate the value of those dollars.

(From P. T. Barnum's, "The Golden Rules To Make Money")

Make Money - Do What You Love To Do and Are Gifted To Do!

MAKE MONEY - DON'T MISTAKE YOUR VOCATION

    The safest plan, and the one most sure of success for the young man
starting in life, is to select the vocation which is most congenial to
his tastes. Parents and guardians are often quite too negligent in
regard to this. It very common for a father to say, for example: "I have
five boys. I will make Billy a clergyman; John a lawyer; Tom a doctor,
and Dick a farmer." He then goes into town and looks about to see what
he will do with Sammy. He returns home and says "Sammy, I see watch-
making is a nice genteel business; I think I will make you a goldsmith."
He does this, regardless of Sam's natural inclinations, or genius.

    We are all, no doubt, born for a wise purpose. There is as much
diversity in our brains as in our countenances. Some are born natural
mechanics, while some have great aversion to machinery. Let a dozen boys
of ten years get together, and you will soon observe two or three are
"whittling" out some ingenious device; working with locks or complicated
machinery. When they were but five years old, their father could find no
toy to please them like a puzzle. They are natural mechanics; but the
other eight or nine boys have different aptitudes. I belong to the
latter class; I never had the slightest love for mechanism; on the
contrary, I have a sort of abhorrence for complicated machinery. I never
had ingenuity enough to whittle a cider tap so it would not leak. I
never could make a pen that I could write with, or understand the
principle of a steam engine. If a man was to take such a boy as I was,
and attempt to make a watchmaker of him, the boy might, after an
apprenticeship of five or seven years, be able to take apart and put
together a watch; but all through life he would be working up hill and
seizing every excuse for leaving his work and idling away his time.
Watchmaking is repulsive to him.

    Unless a man enters upon the vocation intended for him by nature, and
best suited to his peculiar genius, he cannot succeed. I am glad to
believe that the majority of persons do find their right vocation. Yet
we see many who have mistaken their calling, from the blacksmith up (or
down) to the clergyman. You will see, for instance, that extraordinary
linguist the "learned blacksmith," who ought to have been a teacher of
languages; and you may have seen lawyers, doctors and clergymen who were
better fitted by nature for the anvil or the lapstone.

(From P. T. Barnum's "Golden Rules to Make Money")

Make Money - FOCUS!

MAKE MONEY - DO NOT SCATTER YOUR POWERS

    Engage in one kind of business only, and stick to it faithfully until
you succeed, or until your experience shows that you should abandon it.
A constant hammering on one nail will generally drive it home at last,
so that it can be clinched. When a man's undivided attention is centered
on one object, his mind will constantly be suggesting improvements of
value, which would escape him if his brain was occupied by a dozen
different subjects at once. Many a fortune has slipped through a man's
fingers became he was engaged in too many occupations at a time. There
is good sense in the old caution against having too many irons in the
fire at once.

(From P. T. Barnum's "Golden Rules to Make Money")

    Engage in one kind of business only, and stick to it faithfully until
you succeed, or until your experience shows that you should abandon it.
A constant hammering on one nail will generally drive it home at last,
so that it can be clinched. When a man's undivided attention is centered
on one object, his mind will constantly be suggesting improvements of
value, which would escape him if his brain was occupied by a dozen
different subjects at once. Many a fortune has slipped through a man's
fingers became he was engaged in too many occupations at a time. There
is good sense in the old caution against having too many irons in the
fire at once.

(From P. T. Barnum's "Golden Rules to Make Money")

Make Money - Stay Informed!

MAKE MONEY - READ THE NEWSPAPERS

 

  Always take a trustworthy newspaper, and thus keep thoroughly posted in
regard to the transactions of the world. He who is without a newspaper
is cut off from his species. In these days of telegraphs and steam, many
important inventions and improvements in every branch of trade are being
made, and he who don't consult the newspapers will soon find himself and
his business left out in the cold.

(From P. T. Barnum's "Golden Rules to Make Money")


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BlogRUSH - John Reese

    The Internet is a great place to make money - YES!

    John Reese is one of the true gurus when it comes to Internet marketing.

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    BlogRUSH is utilizing the many aspects of what has become known as Web 2.0 and it can help you get to where you want to go online!

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Make Money - Be Generous!

Make Money - Be Charitable

    Of course men should be charitable, because it is a duty and a pleasure.
But even as a matter of policy, if you possess no higher incentive, you
will find that the liberal man will command patronage, while the sordid,
uncharitable miser will be avoided.

    Solomon says: "There is that scattereth and yet increaseth; and there is
that withholdeth more than meet, but it tendeth to poverty." Of course
the only true charity is that which is from the heart.

    The best kind of charity is to help those who are willing to help
themselves. Promiscuous almsgiving, without inquiring into the
worthiness of the applicant, is bad in every sense. But to search out
and quietly assist those who are struggling for themselves, is the kind
that "scattereth and yet increaseth." But don't fall into the idea that
some persons practice, of giving a prayer instead of a potato, and a
benediction instead of bread, to the hungry. It is easier to make
Christians with full stomachs than empty.

    Of course men should be charitable, because it is a duty and a pleasure.
But even as a matter of policy, if you possess no higher incentive, you
will find that the liberal man will command patronage, while the sordid,
uncharitable miser will be avoided.

    Solomon says: "There is that scattereth and yet increaseth; and there is
that withholdeth more than meet, but it tendeth to poverty." Of course
the only true charity is that which is from the heart.

    The best kind of charity is to help those who are willing to help
themselves. Promiscuous almsgiving, without inquiring into the
worthiness of the applicant, is bad in every sense. But to search out
and quietly assist those who are struggling for themselves, is the kind
that "scattereth and yet increaseth." But don't fall into the idea that
some persons practice, of giving a prayer instead of a potato, and a
benediction instead of bread, to the hungry. It is easier to make
Christians with full stomachs than empty.

Make Money - Marketing

MAKE MONEY - ADVERTISE YOUR BUSINESS

    We all depend, more or less, upon the public for our support. We all
trade with the public--lawyers, doctors, shoemakers, artists,
blacksmiths, showmen, opera stagers, railroad presidents, and college
professors. Those who deal with the public must be careful that their
goods are valuable; that they are genuine, and will give satisfaction.
When you get an article which you know is going to please your
customers, and that when they have tried it, they will feel they have
got their money's worth, then let the fact be known that you have got
it. Be careful to advertise it in some shape or other because it is
evident that if a man has ever so good an article for sale, and nobody
knows it, it will bring him no return. In a country like this, where
nearly everybody reads, and where newspapers are issued and circulated
in editions of five thousand to two hundred thousand, it would be very
unwise if this channel was not taken advantage of to reach the public in
advertising. A newspaper goes into the family, and is read by wife and
children, as well as the head of the home; hence hundreds and thousands
of people may read your advertisement, while you are attending to your
routine business. Many, perhaps, read it while you are asleep. The whole
philosophy of life is, first "sow," then "reap." That is the way the
farmer does; he plants his potatoes and corn, and sows his grain, and
then goes about something else, and the time comes when he reaps. But he
never reaps first and sows afterwards. This principle applies to all
kinds of business, and to nothing more eminently than to advertising. If
a man has a genuine article, there is no way in which he can reap more
advantageously than by "sowing" to the public in this way. He must, of
course, have a really good article, and one which will please his
customers; anything spurious will not succeed permanently because the
public is wiser than many imagine. Men and women are selfish, and we all
prefer purchasing where we can get the most for our money and we try to
find out where we can most surely do so.

    You may advertise a spurious article, and induce many people to call and
buy it once, but they will denounce you as an impostor and swindler, and
your business will gradually die out and leave you poor. This is right.
Few people can safely depend upon chance custom. You all need to have
your customers return and purchase again. A man said to me, "I have
tried advertising and did not succeed; yet I have a good article."

    I replied, "My friend, there may be exceptions to a general rule. But
how do you advertise?"

    "I put it in a weekly newspaper three times, and paid a dollar and a
half for it." I replied: "Sir, advertising is like learning--'a little
is a dangerous thing!'"

    A French writer says that "The reader of a newspaper does not see the
first mention of an ordinary advertisement; the second insertion he
sees, but does not read; the third insertion he reads; the fourth
insertion, he looks at the price; the fifth insertion, he speaks of it
to his wife; the sixth insertion, he is ready to purchase, and the
seventh insertion, he purchases." Your object in advertising is to make
the public understand what you have got to sell, and if you have not the
pluck to keep advertising, until you have imparted that information, all
the money you have spent is lost. You are like the fellow who told the
gentleman if he would give him ten cents it would save him a dollar.
"How can I help you so much with so small a sum?" asked the gentleman in
surprise. "I started out this morning (hiccuped the fellow) with the
full determination to get drunk, and I have spent my only dollar to
accomplish the object, and it has not quite done it. Ten cents worth
more of whiskey would just do it, and in this manner I should save the
dollar already expended."

    So a man who advertises at all must keep it up until the public know who
and what he is, and what his business is, or else the money invested in
advertising is lost.

    Some men have a peculiar genius for writing a striking advertisement,
one that will arrest the attention of the reader at first sight. This
fact, of course, gives the advertiser a great advantage. Sometimes a man
makes himself popular by an unique sign or a curious display in his
window, recently I observed a swing sign extending over the sidewalk in
front of a store, on which was the inscription in plain letters,

   

"DON'T READ THE OTHER SIDE"

    Of course I did, and so did everybody else, and I learned that the man
had made all independence by first attracting the public to his business
in that way and then using his customers well afterwards.

    Genin, the hatter, bought the first Jenny Lind ticket at auction for two
hundred and twenty-five dollars, because he knew it would be a good
advertisement for him. "Who is the bidder?" said the auctioneer, as he
knocked down that ticket at Castle Garden. "Genin, the hatter," was the
response. Here were thousands of people from the Fifth avenue, and from
distant cities in the highest stations in life. "Who is 'Genin,' the
hatter?" they exclaimed. They had never heard of him before. The next
morning the newspapers and telegraph had circulated the facts from Maine
to Texas, and from five to ten millions off people had read that the
tickets sold at auction For Jenny Lind's first concert amounted to about
twenty thousand dollars, and that a single ticket was sold at two
hundred and twenty-five dollars, to "Genin, the hatter." Men throughout
the country involuntarily took off their hats to see if they had a
"Genin" hat on their heads. At a town in Iowa it was found that in the
crowd around the post office, there was one man who had a "Genin" hat,
and he showed it in triumph, although it was worn out and not worth two
cents. "Why," one man exclaimed, "you have a real 'Genin' hat; what a
lucky fellow you are." Another man said, "Hang on to that hat, it will
be a valuable heir-loom in your family." Still another man in the crowd
who seemed to envy the possessor of this good fortune, said, "Come, give
us all a chance; put it up at auction!" He did so, and it was sold as a
keepsake for nine dollars and fifty cents! What was the consequence to
Mr. Genin? He sold ten thousand extra hats per annum, the first six
years. Nine-tenths of the purchasers bought of him, probably, out of
curiosity, and many of them, finding that he gave them an equivalent for
their money, became his regular customers. This novel advertisement
first struck their attention, and then, as he made a good article, they
came again.

    Now I don't say that everybody should advertise as Mr. Genin did. But I
say if a man has got goods for sale, and he don't advertise their in
some way, the chances are that some day the sheriff will do it for him.
Nor do I say that everybody must advertise in a newspaper, or indeed use
"printers' ink" at all. On the contrary, although that article is
indispensable in the majority of cases, yet doctors and clergymen, and
sometimes lawyers and some others, can more effectually reach the public
in some other manner. But it is obvious, they must be known in some way,
else how could they be supported?