BUSINESS RULES.
In Andrew Carnegie’s “Empire of Business” he sets down the prime conditions of success as they appear to him. Above all, he says, a young man should concentrate his energy, thought and capital exclusively on the business which he has adopted. If he has begun on one line, he should fight it out on that line.
The concerns which fail are those which have scattered their capital, which means that they have scattered their brains also. They have investments in this, or that, or the other, here, there and everywhere. “Don’t put all your eggs in one basket” is all wrong. I tell you “Put all your eggs in one basket, and then watch that basket.” Look round you and take notice; men who do that do not often fail. It is easy to watch and carry the one basket. It is trying to carry too many baskets that breaks most eggs in this country. He who carries three baskets must put one on his head, which is apt to tumble and trip him up. One fault of the American business man is lack of concentration.
To summarize what I have said: Aim for the highest; never enter a barroom; do not touch liquor, or if at all, only at meals; never speculate; never indorse beyond your surplus cash fund; make the firm’s interests yours; break orders always to save owners; concentrate; put all your eggs in one basket and watch that basket.