"Anybody can slide down hill, but it takes good legs and good wind to go up."—Silent Partner. The brightest minds of the business world are endeavoring to solve the problem of how best to market an article. Of course, unlimited capital, and a good article greatly lessen the problem. But to start with little or no money, build up a business, equip the plant, buy raw materials, hire help, manage a factory, establish credit, advertise, fill orders, collect accounts, and do the thousand and one other things necessary to make success of a business requires a good, virile mind, and plenty of hard work and close attention to detail, and should be a steady, gradual development. With honesty of purpose, quality of product, absolute fair-dealing, push and untiring energy as guides, any man or woman given good health, common sense and a fairly meritorious patented article can unquestionably succeed in profitably marketing it. A steady climb with unflagging zeal and singleness of purpose always win out. The motto should be, "This one thing I do." It has been found from experience that it is usually well to get the best expert advice in connection with the establishment of a new business before making plans for spending much money. There are specialists in all business lines today, and as a rule it proves to be wise economy to spend money in payment of their services. Some of the largest industrial establishments in the world are the direct outgrowth of a very small plant judiciously handled and energetically developed. Of course, in marketing a product, one must know exactly what the product costs. Allow proper margin for management expenses, fixed charges, depreciation, selling expenses and the like. It is usually safe to add one hundred per cent. to the manufacturing cost for the purpose of covering administrative and fixed charges. Wholesale selling prices should always conform to the list put out by other manufacturers. In other words,
The gross prices are approximately as follows:
It is usually customary to give a discount of from 5 per cent. to 10 per cent., if ordered in gross lots. Terms of settlement show considerable variation in different lines, and range anywhere from 1 per cent. to 8 per cent. for cash in ten days, with extension of credit of from thirty days net to ninety days "extra dating." There are some splendid books advertised and published along these lines which can be had from the various publishers. There are also weekly and monthly periodicals that will prove of great benefit to anyone engaging in a new business. Carefully prepared catalogues, stationery, printed matters, follow-up letters, etc., should be used. Consult a specialist about these matters. "The world always listens to a man with a will in him." |