NINE POINTS.

Auckland Star, Volume LXVII, Issue 139, 13 June 1936, Page 10

NINE POINTS.

YOUNG MEN ADVISED.

STARTING IN BUSINESS.

« HORSE-SENSE » ESSENTIAL.

Nine points of advice to a young man entering business were put before members of the Canterbury Advertising Club by Mr. J. Mawson Stewart (states the "Stai'-Sun"). The speaker's advice was agreeably spiced with breezy anecdotes and a great deal of informative comment. In opening his address Mr. Stewart said that, even to-day, in the present hard times, there was an opportunity for young .men entering business who were prepared' to work hard. They had to have, brains —"and by brains I mean horse-sense. It is not always the most highly educated men who are the most successful." tlie speaker said. He emphasised the necessity for adequate capital. Mr. Stewart's main points were:— (1) "Find some business that has been neglected and you can by push and energy put back on a prosperous footing." (2) "If possible, have something to start on. An accountant, for example, can go ahead more confidently if he has a secretaryship worth, say, £ 100 a year, as a basis on which to build." (.'J) "If you have to go to ajiyone for your capital, select some man who can push business your way." (4) "Plan ahead." (5) "Be sure to have some knowledge of a balance-sheet, or else you cannot judge the business you are <n>ing into. A sound balance-sheet is" one that shows sufficient liquid assets to wipe out at any time its liabilities." ((>) "See that the free assets of a business are sufficient to enable you to extend the business." (7) "Remember that you can got nowhere without horse-sense." (S) "Whether you have a small business or a large business, you must budget for receipts and expenditure. Do not wait until the end of the year to ascertain results. You should have a good idea during the year as to how you are going to stand at the end of it."

(9) "If you have a 1m siness tliat depends on its sales department for revenue, you must have a plan for advertising. This, of course, is more important with a new -business than with an old business. Here again horse-sense comes in. You must know how to advertise."