There is perhaps no one thing which works more detriment to one’s affairs in general, than carelessness in preserving a good credit. The habit resorted to by many, of contracting debts at every opportunity presented, and then devoting a large share of their valuable time, and all the ingenuity they possess, in trying to avoid meeting their creditors and in making excuses when they do meet them, is contemptible and despicable. The man who thus compromises himself need not look for nor expect success.
It is a very easy matter for almost any person to gain the confidence of his fellow man, and thereby become his debtor, in which event there should be the utmost precaution used against betraying that trust, which if once betrayed, can never by any word or act be completely restored.
One of the impossibilities of this world is for a man to pay a debt when he has nothing to pay with; but it is possible for him to be frank, honorable and manly, in acknowledging the same, and instead of crossing the street to dodge creditors, it is his duty to act directly the opposite, and if possible meet those to whom he is under obligations and convince them, by his candor and business like manner, that he intends to satisfy their claim sooner or later.
The businessman cannot treat the matter of credit with too much care or precision. An absolute verbal promise to pay a debt on a certain day should be treated the same as a promissory note; and no thorough business man would think of giving the latter unless he either expected to meet it on the day that it became due, or satisfy the holder of it in some other way.
The habit resorted to by many business men of ignoring correspondence relative to the collection of bills past due, and treating the matter with silence, until such time as they find it inconvenient to remit, ia annoying to those with whom they deal, and damaging to their own credit. Promptness is a virtue, and sure to receive its reward.
Recreation and vacations are essential to the success of every business man, and the best and most satisfactory method of supplying those needs without the interference of business, directly or indirectly, should be a matter of consideration.
Those who indulge in outdoor exercises are productive of more active and successful business ideas than those who seek recreation in close and unventilated rooms.
There should be a time for business and a time for pleasure, and those who undertake to combine the two will meet with failure; for the success of every enterprise depends on the unlimited amount of candor, earnestness, energy, honesty and close attention to business.
Business men and women should do everything in their power to maintain good credit. Every business person needs an infusion of cash every once in a while, weather these come from banks, friends or investors. Do not borrow unless you intend to pay and moreover, do not borrow unless you are quite sure that you will be able to pay back. Uncle J.P. did not have to deal with credit cards or collection agencies but his advice still applies; do not duck your bills. Meet them head on and make sure that you are letting whatever agency or person know that you will be paying them back, soon. Don’t let your debts get taken over by a collector.
Bad credit is bad credit and it will come back to haunt you. This also applies to back room pleasures. A bad rap is like bad credit, it will eventually catch up with you and it can ruin your business rep which is your livelihood. Honesty and open conduct are what solidifies a business person’s standing in the community and without trust you don’t have anything. Don’t mix business and pleasure.