There is only one way to make money in business-selling good of services for more than it costs to produce the goods or render the service. If a person can do that persistently and continuously, he will make money.

There is a drawback-several million persons have the same idea and objectives. Many of them are trying to improve what they are making or selling at the same time to reduce the cost of  producing. The normal result of this competition is increasing better products and services at relatively lower prices. The businessman who cannot get his costs down and keep them down soon finds that he has no business, unless he can produce such as superior product or service that his customers prefer to deal with him rather than with his competitors, regardless of price.

Some businesses are very large, such a general motors, metropolitan life insurance, each with assets of more than a billion dollars. Many businesses are quite small-a filling station, a neighborhood grocery store.

All these businesses require people to keep them running. Some of these people are managers, many workers, and others are supervisors. Some people do nothing but sell. A multitude of people do nothing but keep records.

Hundred of thousand of people are running their own businesses, millions of others are working for them on a salary, wage, or commission basis. When a young man graduates from a college course in business, he has no a choice of going into business for him self or of working for someone else. If his training has been through, he will probably want to test it in someone else’s business before establishing a business of his own. The combination of first class training and good experience, with intelligent and industries application, is pretty nearly unbeatable. The advantage of working for someone else at first is the chance to observe firsthand how to other people do business. But beside that, there is disadvantage of working for someone, after gained confidence in his own ability, is that he may be subject to the whims of his employer and gradually may lose in ambition and sense of independence.

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