ADVICE TO YOUNG MEN.

Horowhenua Chronicle, 17 June 1936, Page 3

ADVICE TO YOUNG MEN.

NINE POINTS WHEN STARTINGA BUSINESS. “HORSE-SENSE ESSENTIAL.” Nine points of advice to a young man entering business were put before members of the Canterbury Advertising Club last week by Mr. J. Mawsou Stewart. The speaker’s advice was agreeably spiced with breezy anecdotes and a great deal of informative comment. In opening 4>i- s address Mf. 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 1 mean horse-sense. It is not always the most highly educated men who arc the most successful,” the speaker said. He emphasised the necessity for adequate capital, ( J Mr. Stewart’s main points were : (1) “Find some business that has been neglected and you can by push i 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, £IOO a year, as a basis on which to build.” (3) “if you have to go to anyone 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 going into. A sound balance-sheet is one that shows sufficient liquid assets to wipe out at any time its liabilities,” (G) “>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.” (8) “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 business that 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.” The president (Mr. J. *Stout), who was in the chair, introduced the speaker, and an enthusiastic vote of thanks was carried on the motion of Mr. J. ,T. Staples.