Don't Think You're Above Your Business

7 min

Young men after they get through their business training, or apprenticeship, instead of pursuing their avocation and rising in their business, will often lie about doing nothing. They say; "I have learned my business, but I am not going to be a hireling; what is the object of learning my trade or profession, unless I establish myself?'"

After finishing their business training or apprenticeship, young men often sit around doing nothing instead of working and advancing. They say, "I have learned my business, but I’m not going to work for someone else. What’s the point of learning my trade or profession unless I go into business for myself?"

"Have you capital to start with?"

"Do you have money to start with?"

"No, but I am going to have it."

"No, but I'm going to have it."

"How are you going to get it?"

"I will tell you confidentially; I have a wealthy old aunt, and she will die pretty soon; but if she does not, I expect to find some rich old man who will lend me a few thousands to give me a start. If I only get the money to start with I will do well."

"I’ll tell you in confidence. I have a wealthy old aunt, and she’ll die pretty soon. But if she doesn’t, I expect to find some rich old man to lend me a few thousand to get started. If I can just get the money to start with, I’ll do well."

There is no greater mistake than when a young man believes he will succeed with borrowed money. Why? Because every man's experience coincides with that of Mr. Astor, who said, "it was more difficult for him to accumulate his first thousand dollars, than all the succeeding millions that made up his colossal fortune." Money is good for nothing unless you know the value of it by experience. Give a boy twenty thousand dollars and put him in business, and the chances are that he will lose every dollar of it before he is a year older. Like buying a ticket in the lottery; and drawing a prize, it is "easy come, easy go." He does not know the value of it; nothing is worth anything, unless it costs effort. Without self-denial and economy; patience and perseverance, and commencing with capital which you have not earned, you are not sure to succeed in accumulating. Young men, instead of "waiting for dead men's shoes," should be up and doing, for there is no class of persons who are so unaccommodating in regard to dying as these rich old people, and it is fortunate for the expectant heirs that it is so. Nine out of ten of the rich men of our country to-day, started out in life as poor boys, with determined wills, industry, perseverance, economy and good habits. They went on gradually, made their own money and saved it; and this is the best way to acquire a fortune. Stephen Girard started life as a poor cabin boy, and died worth nine million dollars. A.T. Stewart was a poor Irish boy; and he paid taxes on a million and a half dollars of income, per year. John Jacob Astor was a poor farmer boy, and died worth twenty millions. Cornelius Vanderbilt began life rowing a boat from Staten Island to New York; he presented our government with a steamship worth a million of dollars, and died worth fifty million. "There is no royal road to learning," says the proverb, and I may say it is equally true, "there is no royal road to wealth." But I think there is a royal road to both. The road to learning is a royal one; the road that enables the student to expand his intellect and add every day to his stock of knowledge, until, in the pleasant process of intellectual growth, he is able to solve the most profound problems, to count the stars, to analyze every atom of the globe, and to measure the firmament this is a regal highway, and it is the only road worth traveling.

A young man makes no greater mistake than believing he will succeed with borrowed money. Why? Because every man's experience agrees with Mr. Astor's, who said, "Earning my first thousand dollars was harder than earning all the later millions that made up my enormous fortune." Money is useless unless experience has taught you its value. Give a boy twenty thousand dollars and set him up in business. Chances are, he will lose every dollar within a year. Like buying a lottery ticket and winning a prize, it is "easy come, easy go." He does not know the money's value. Nothing is worth anything unless it takes effort. Without self-denial, thrift, patience, and persistence, you cannot be sure of building wealth, starting with money you have not earned. Young men should get to work instead of "waiting for someone to die and leave them money." No group is less obliging about dying than these rich old people. Fortunately for their would-be heirs, the old people are so uncooperative. Nine out of ten rich men in our country today began life as poor boys. They had determination, a strong work ethic, persistence, thrift, and good habits. They advanced gradually, earning and saving their own money. This is the best way to build a fortune. Stephen Girard began life as a poor cabin boy and died worth nine million dollars. A.T. Stewart was a poor Irish boy, and he paid taxes on an annual income of a million and a half dollars. John Jacob Astor was a poor farm boy and died worth twenty million dollars. Cornelius Vanderbilt began by rowing a boat from Staten Island to New York. He gave our government a steamship worth a million dollars and died worth fifty million. "There is no royal road to learning," says the proverb. I might say, just as truly, "there is no royal road to wealth." But I think there is a royal road to both. The road to learning is a royal one. It lets students expand their minds and add to their knowledge every day. Through this pleasant process of intellectual growth, students become able to solve the deepest problems. They can count the stars, analyze every atom of the globe, and measure the heavens. This is a royal highway, and it is the only road worth traveling.

So in regard to wealth. Go on in confidence, study the rules, and above all things, study human nature; for "the proper study of mankind is man," and you will find that while expanding the intellect and the muscles, your enlarged experience will enable you every day to accumulate more and more principal, which will increase itself by interest and otherwise, until you arrive at a state of independence. You will find, as a general thing, that the poor boys get rich and the rich boys get poor. For instance, a rich man at his decease, leaves a large estate to his family. His eldest sons, who have helped him earn his fortune, know by experience the value of money; and they take their inheritance and add to it. The separate portions of the young children are placed at interest, and the little fellows are patted on the head, and told a dozen times a day, "you are rich; you will never have to work, you can always have whatever you wish, for you were born with a golden spoon in your mouth." The young heir soon finds out what that means; he has the finest dresses and playthings; he is crammed with sugar candies and almost "killed with kindness," and he passes from school to school, petted and flattered. He becomes arrogant and self-conceited, abuses his teachers, and carries everything with a high hand. He knows nothing of the real value of money, having never earned any; but he knows all about the "golden spoon" business. At college, he invites his poor fellow-students to his room, where he "wines and dines" them. He is cajoled and caressed, and called a glorious good follow, because he is so lavish of his money. He gives his game suppers, drives his fast horses, invites his chums to fetes and parties, determined to have lots of "good times." He spends the night in frolics and debauchery, and leads off his companions with the familiar song, "we won't go home till morning." He gets them to join him in pulling down signs, taking gates from their hinges and throwing them into back yards and horse-ponds. If the police arrest them, he knocks them down, is taken to the lockup, and joyfully foots the bills.

The same applies to wealth. Move forward with confidence, study the rules, and above all, study human nature. For "the proper study of mankind is man." As you strengthen your mind and muscles, your growing experience will help you build more capital every day. That capital will grow through interest and other means until you become financially independent. You will generally find that poor boys become rich and rich boys become poor. For example, a rich man dies and leaves a large estate to his family. His oldest sons, who helped him earn his fortune, know the value of money from experience. They take their inheritance and add to it. The younger children's shares are invested to earn interest. The little boys are patted on the head and told a dozen times a day, "you are rich. You will never have to work. You can always have whatever you wish, for you were born with a golden spoon in your mouth." The young heir soon learns what that means. He has the finest clothes and toys. He is stuffed with candy and almost "killed with kindness." He goes from school to school, pampered and flattered. He becomes arrogant and conceited, mistreats his teachers, and insists on having his own way. He knows nothing about the real value of money because he has never earned any. But he knows all about the "golden spoon" business. At college, he invites his poor fellow students to his room, where he "wines and dines" them. They flatter him, shower him with affection, and call him a wonderful fellow because he spends so freely. He hosts dinners featuring wild game, drives his fast horses, and invites his friends to celebrations and parties. He is determined to have plenty of "good times." He spends his nights in wild fun and drunken excess. He leads his companions in the familiar song, "we won't go home till morning." He gets them to join him in pulling down signs and taking gates off their hinges. They throw the gates into backyards and ponds used for watering horses. If the police arrest them, he knocks the officers down, gets taken to jail, and happily pays the bills.

"Ah! my boys," he cries, "what is the use of being rich, if you can't enjoy yourself?"

"Ah! my boys," he exclaims, "what's the point of being rich if you can't enjoy yourself?"

He might more truly say, "if you can't make a fool of yourself;" but he is "fast," hates slow things, and doesn't "see it." Young men loaded down with other people's money are almost sure to lose all they inherit, and they acquire all sorts of bad habits which, in the majority of cases, ruin them in health, purse and character. In this country, one generation follows another, and the poor of to-day are rich in the next generation, or the third. Their experience leads them on, and they become rich, and they leave vast riches to their young children. These children, having been reared in luxury, are inexperienced and get poor; and after long experience another generation comes on and gathers up riches again in turn. And thus "history repeats itself," and happy is he who by listening to the experience of others avoids the rocks and shoals on which so many have been wrecked.

He might more truthfully say, "if you can't make a fool of yourself." But he is "reckless," hates anything slow, and doesn't "get it." Young men loaded down with other people's money are almost sure to lose everything they inherit. They also pick up all sorts of bad habits that, in most cases, ruin their health, finances, and character. In this country, one generation follows another, and today's poor become rich in the next generation or the third. Their experience guides them, and they become rich and leave vast fortunes to their young children. These children, raised in luxury, lack experience and become poor. Then, after much experience, another generation comes along and builds wealth in turn. And so "history repeats itself." Fortunate is the person who learns from others' experience and avoids the rocks and shallows where so many have been wrecked.

"In England, the business makes the man." If a man in that country is a mechanic or working-man, he is not recognized as a gentleman. On the occasion of my first appearance before Queen Victoria, the Duke of Wellington asked me what sphere in life General Tom Thumb's parents were in.

"In England, a man's occupation determines his social standing." If a man in England is a mechanic or laborer, he is not recognized as a gentleman. When I first appeared before Queen Victoria, the Duke of Wellington asked about General Tom Thumb's parents' social standing.

"His father is a carpenter," I replied.

"Oh! I had heard he was a gentleman," was the response of His Grace.

"Oh! I had heard he was a gentleman," His Grace replied.

In this Republican country, the man makes the business. No matter whether he is a blacksmith, a shoemaker, a farmer, banker or lawyer, so long as his business is legitimate, he may be a gentleman. So any "legitimate" business is a double blessing it helps the man engaged in it, and also helps others. The Farmer supports his own family, but he also benefits the merchant or mechanic who needs the products of his farm. The tailor not only makes a living by his trade, but he also benefits the farmer, the clergyman and others who cannot make their own clothing. But all these classes often may be gentlemen.

In this republic, a man gives his business its standing. Whether he is a blacksmith, shoemaker, farmer, banker, or lawyer, he may be a gentleman if his business is legitimate. So any "legitimate" business is a double blessing. It helps both the man who runs it and other people. The farmer supports his own family. But he also benefits the merchant or mechanic who needs his farm’s products. The tailor not only earns a living from his trade. He also benefits the farmer, the clergyman, and others who cannot make their own clothing. But men in all these occupations may often be gentlemen.

The great ambition should be to excel all others engaged in the same occupation.

Your main ambition should be to do better than everyone else in the same line of work.

The college-student who was about graduating, said to an old lawyer:

The college student who was about to graduate said to an old lawyer:

"I have not yet decided which profession I will follow. Is your profession full?"

"I haven't decided what career to pursue yet. Is your field already full?"

"The basement is much crowded, but there is plenty of room up-stairs," was the witty and truthful reply.

"The basement is very crowded, but there's plenty of room upstairs," came the witty and truthful reply.

No profession, trade, or calling, is overcrowded in the upper story. Wherever you find the most honest and intelligent merchant or banker, or the best lawyer, the best doctor, the best clergyman, the best shoemaker, carpenter, or anything else, that man is most sought for, and has always enough to do. As a nation, Americans are too superficial—they are striving to get rich quickly, and do not generally do their business as substantially and thoroughly as they should, but whoever excels all others in his own line, if his habits are good and his integrity undoubted, cannot fail to secure abundant patronage, and the wealth that naturally follows. Let your motto then always be "Excelsior," for by living up to it there is no such word as fail.

No profession, trade, or line of work is overcrowded at the top. The most honest and intelligent merchant or banker is always in demand and always has enough work. So does the best lawyer, doctor, clergyman, shoemaker, carpenter, or anyone else who is best at his work. As a nation, Americans are too superficial. They try to get rich quickly and generally do not do their work as soundly and thoroughly as they should. But anyone who outperforms all others in his field is certain to attract plenty of customers or clients. That is true if he has good habits and his honesty is beyond question. The wealth that naturally follows is certain too. So let your motto always be "Excelsior," meaning "ever higher." If you live by that motto, there is no such word as failure.