Music Trade Review -- © mbsi.org, arcade-museum.com -- digitized with support from namm.org
DECEMBER 16, 1922
THE MUSIC TRADE REVIEW
5
Concentration Necessary to Success
Bruce F. Richards Points Out the Danger of Endeavoring to Expand a Retail Business by Delving Into and Absorbing
Interests Apart From the Main Line—Building Upward on a Solid Foundation the
Real Secret of Business Success and Permanence
"Whenever I think of Blake and his many
Every music store business in your locality—
your own included—is either perpendicular or interests the picture of a wheel rises up before
horizontal in point of development. Perhaps me. Blake is the hub and all these interests
you, Mr. Music Store Dealer, as the head of a are the spokes. And, belief, me, they keep
going concern, have not realized this, but it is him turning round and round with, little chance
to stop!
true nevertheless.
"Now as for myself, I have never had time
Sometimes ideas which are a bit* unique and
enough to do my own job well enough to
even queer help us to understand just what
we are doing, why we are doing it and whether leave it and to branch out on horizontal lines,
or not the policy is a good one. Wrong poli- dipping my finger in this pie and that pie. The
cies or even a wrong application of a right facts are simply these: I am not constituted
policy may be disastrous. So let us consider so that 1 can play the 'artful dodger' act and
this matter together, with the idea of making make any creditable showing in a number of
a larger success of our own music store in the different things. Even in my own business I
months to come than we have in the years have stuck closely to my main line. No one
within my territory would have any doubt of
which are past.
A business man who began in a small way being well served in my business or its legiti-
and has actually increased his assets over five mate branches which I conduct.
"That is, I aim to serve the public as broadly
hundred times in a period of twenty years of
business life declared to the writer only yes- as possible in the music field. Anything which
terday that he considered this achievement to has to do with this main line or its allied in-
have been possible because his policy has been terests falls within my province, and I con-
from the very first a perpendicular instead of a 'sider that, in following this policy, I may con-
centrate to a reasonable degree, whereas if 1
horizontal one.
r
When asked to explain what he meant b x spread my butter so thinly over a large slice
of breacl I doubtless would. not have butter
this statement he smiled and said:
to make much of a showing anywhere.
"I began in rather a small way. In fact, rri-j
Protecting the Main Business
first undertaking was positively insignificant.
"I have passed up many an opportunity
I had only my small savings as a clerk. I was
still young and had a family at that.. So 1 which looked reasonably good as a money-
knew that I had to move very carefully. May-, maker. But I holdrtnyself down to the ques-
be it was a good thing, for it forced me to con-. tion: 'Can I put capital, time and push enough
sider every act of my business beginning with ln^o that without causing my straight business
the utmost seriousness. I could not afford to ,£(£ *jsufjer? Will I make more to go ittt<> this
make any mistakes. Then when I found I was side "venture, this untried interest^of this new
on the right track it was only the natural thing department, than_I will to ke^jS^fffugging away
that I should proceed along what I had proved at what I am now doing?'
"It has been a peculiar theory of mine that
to be safe lines.
I must keep a close supervision over every
Sticking to One Line
"For example, I chose my business line. part of my own business and bolster up the
Then I went on to build one story upon an- work of my associates wherever there was dan-
other, enlarging the original structure, always ger of their falling down or failing. This takes
keeping it modern and up to date by such im- all my time. Again and again I have tried out
provements and additions as were necessary some additional stunt only loosely connected
to keep step, or even to be in the lead of my with my business, and invariably I found that
it took so much time and pep to get the thing
competitors.
"Sometimes I was called conservative be- going that, in the end,' I was the loser.
"I find that bankers stick closely to banking
cause I didn't branch out along horizontal
lines, and go into this, that and the other ven- practice. They do not attempt to mend and
ture. Some of my business brothers in the black shoes, to run an amusement house or to
same line have called me hidebound because patch roofs. Banking interests are so impor-
I didn't go into all sorts of sideshow ventures tant that they absorb the interest of bankers.
and accept this, that and the other office in That is to say, bankers make a keen and close
study of money and finance, beginning with
local enterprises.
"For instance, my nearest competitor is a the mining of silver and gold, the manufacture
director in a local bank. He is prominent in of coin of the realm in the mint, the executive
a couple of lodges. He is an officer in a local management of banking institutions and the
transportation company. He is on endless com- handling of credits and investments in all their
mittees, and if there is a parade or a big blow- ramifications.
"That is just what I am trying to do—what
out of any kind he is marshal or director of
I have done! I have held myself to a per-
the whole show.
"Now all this is very fine and I do not criti- pendicular line, beginning with cause and ef-
cize him in the least because he does it. With- fect and building upward from that point. For
out doubt, he enjoys the associations and is example, I examine the lines of goods I sell
able to render valuable service. Probably be- thoughtfully and frequently and aim deliber-
ing a good mixer brings him friends and pat- ately to get back as near to the source of sup-
ronage. There are other happy circumstances ply as I can. Then I reach up and out and
connected with being chosen by one's fellow- serve my public with the greatest possible di-
rectness and efficiency.
townsmen to fill important positions.
"This means that my organization is a spe-
Too Many Spokes to the Wheel
"This same competitor of mine has an in- cialized one, and my labor turnover is neg-
ligible. Having increased my capital over five
terest in a small lumber yard. He is one of
fifty men who are financing a new hotel to hundred times, and my business having grown
attract conventions and traveling trade. It is from one small room in which it was housed
rumored also that he has a hand in a local to a dozen large plants and establishments, I
motion picture concern, but that is uncertain. feel that my method has suited my conditions,
He seems to enjoy life, although last year he at least.
"It may be only a happen-so that my com-
was obliged to spend several months in a
petitor, who is following business along hori-
sanitarium for nerves.
zontal lines, is continually harassed for money,
has not a very large borrowing credit and has
practically marked time in point of business
development. His assets are no more to-day
than they were fifteen years ago. Maybe this
would have been the case, anyway. It is a
good thing, though, for all of us to stop and
to consider whether or not we will make the
most headway by a plain perpendicular busi-
ness. My own plan has been one of extreme
thoroughness and of injecting a definite per-
sonality into the structure I am rearing.
"Hundreds of thousands of people who see
the picture of the Woolworth Tower, or the
Parthenon, or Bunker Hill Monument, or the
Taj Mahal, or the Statue of Liberty in New
York Harbor, will recognize these great monu-
ments of human skill and ideals instantly, with-
out any caption or label. All of these struc-
tures embody a personality.
Winning Confidence With Personality
"In my perpendicular building I have aimed
to give my business the backbone of a per-
sonality in which the public would have un-
bounded confidence and reason for confidence.
Whether I was succeeding in the expression
of this personality or not has always been de-
termined by the figures which my financial
statement showed me. It has been the index
as to the success a»d wisdom of my policies
and personality ideas. The only trend, how-
ever, which I have stressed, and shall con-
tinue to stress, is that of perpendicular effort—
up—and still up—and still up!"
The music store dealers of this country form
a splendid army of upstanding citizens and
business men. As might be expected in a
group made up of thousands, there are those
who differ from others in their idea of prog-
ress. There are those who vary in tempera-
mental make-up. There are those who, because
of overwork or lack of vision, become confused
and so forget the importance of perpendicular
business building as opposed to horizontal poli-
cies.
Let's think about it. Let's examine our own
affairs with the thought in mind of a business
backbone which will stand the strain of trying
times, readjustment and the burdens of taxa-
tion and competition.
In the evolution of the species man ceased
to walk on all fours. He quit the horizontal
and proudly assumed the perpendicular posi-
tion of standing and walking. Business life is
gradually evolving itself along similar lines.
Let's realize what we can do, may do and
should do by building story upon story in our
chosen place in the sun.
The increase of each unit to its maximum ca-
pacity of usefulness and profit will cut out me-
diocrity, disappointment and failure and will
make for the perpendicular business building
and profitable personality which our friend of
the 500 per cent increase has shown. It's worth
while. Let's go!
FIX BANQUET FOR JANUARY 2 5
CHICAGO, I I I . , December 14.—At the annual
meeting of the Piano & Organ Association,
which was held at the Palmer House at noon
to-day, the date for the annual banquet was
set for January 25, at which time the executive
committees of the National Association may
also arrange for the mid-Winter meeting.
The Linton Co., music dealer, of Philadelphia,
Pa., has leased more spacious quarters at 24
South Fifty-second street.