Dollars and Sense | Page 3

jaws firmly and say No. The friends who go back on you and criticize you for saying No to the things that are hurtful to you are unworthy of the name of friends, and you can very well get along without them.
Friends who ask you to do the things you should not do are the very ones who are of no service to you in time of need.
The individual who says No regardless of the flings and taunts that are cast at him is the one who eventually makes a success.
Character counts above all things in the business world. The banker extends credit on character oftener than we imagine. The banker knows how to say No.
A man's credit and character are most important factors in business, and many a man without security has attained magnificent success through untiring energy, ability, character and courage enough to say No.
In proportion as you grow strong and unhesitating in saying No, the temptations and opportunities to say Yes will lessen in number.
Exercise your back bone and your jaw bone, so you can say No and stick to it.

Credit
No factor is so necessary in building up business as credit, and no factor is so necessary in building up credit as truth.
It is comparatively easy to start credit, but the art is to keep credit.
The young business man who says "I want no credit, I buy and sell for cash" makes a mistake. It is all right to pay promptly, but do not establish a spot cash payment basis, for later on, when you ask credit, your creditors will think something is wrong.
Establish a credit whether you need it or not. It is a good advertisement and a frequent help.
Be reasonably slow in paying your bills, but positively sure that you do pay them.
When you get a sharp or blunt letter asking for a settlement, go to your creditor face to face, set a date when you will make a payment and keep your agreement.
Don't be specific as to amount unless you are decidedly sure you can do it. Be specific as to date, however, and be there or have your check there on the date.
Suppose a man owes you $100 and you ask him for it and he says "Here are ten dollars on account, and on next Thursday I will make another payment, and as often as I can I will pay something until you are fully paid up." You don't get angry at that man when you see his intentions are good and he is doing his best.
So long as your creditor gets something every time he writes it keeps him good natured.
It is the man who breaks promises who gets hard usage from the creditors.
If you owe more than your present cash balance can liquidate, make a pro rata payment all around among your creditors. Write a good square letter saying nothing would please you more than to send a check in full, and that this payment is made as evidence of your willingness and intention to keep good faith.
Keep in touch personally with your creditors as far as possible. Talk to them of your plans and prospects. Always tell the truth. Have your account as a moral risk rather than as a Dun or Bradstreet risk.
There is sentiment in business. Creditors have hearts and they have good impulses. They appreciate friendship and especially gratitude. Don't believe a word of that great untruth "There is no sentiment in business."
Don't get angry when asked for money. Admit your slowness and tell your creditor that as an offset for your present slowness you have a good memory and a heart that appreciates, and some day your purchases will be much larger, and those who are your friends now will certainly get the benefit when the time comes that you do not require favors.
An honest, frank, heart to heart talk is most valuable. The credit man keeps the truthful man in mind and his account under his protecting wing. The credit man glories with you, and has a distinct interest in your success when it comes.
It often happens that the small bank or small manufacturer is the best place for the beginner to go for credit. You can get closer to the small growing creditor than you can to the big fellow who is independent.
The big bank is cold blooded. It insists upon security and collateral. Your account in a big bank is only an incidental detail, and the cashier is cold and distant and blunt.
The small bank, however, gives you more time and attention, is more interested in you and can remember you much better than the big bank.
Avoid bad associates. You can't play the races and give wine dinners and maintain strong confidence with your creditors.
You must be worthy of the confidence reposed