Today I am going to talk about another “big winner” who has been successful in establishing a large business based on ethics, integrity, and belief in the people who he hired.
J.C. Penney began working for a dry goods store in 1902. By 1920 he owned 13 stores of his own and in 1913 he named his stores “JCPenney.” Penney attributes his success to hard work and honesty. By 1917 he was operating 175 stores.
This rapid growth was achieved by requiring the store managers to own 33 percent of their store. This was an early form of franchising.
J.C. Penney established “Six Principles for Winning” which I will share with you today.
Preparation Wins. A man must know all about his business. He must know a little more than any other man knows. As a rule we achieve what we prepare for.
Hard Work Wins. The only kind of luck that any man is justified in banking on is hard work, which is made up of sacrifice, persistent effort, and dogged determination. Growth is never by chance. The success we build will be the achievement of our united efforts.
Honesty Wins. This must be not only the kind of honesty that keeps a man’s fingers out of his neighbor’s still, but the finer honesty that will not allow a man to give less then his best, the kind of honesty that makes him count not his hours but his duties and opportunities and constantly urges him to increase his efficiency.
Confidence in People Wins. J.C. Penney found his most successful associates by giving them responsibility, by making them feel that he relied up them. Those that have proved to be unworthy have only caused the others, who far outnumbered them, to stand in a clearer light. Do not throw away common sense, but believe in yourself, and trust your fellow workers.
The Spirit Wins. It is the spirit of the individuals comprising any organization, the spirit of the pioneers in any enterprise or endeavor – that spirit of men and women who are at the foundation of such organizations and enterprises – which will solve problems, conquer difficulties, and achieve individual and collective successes.
Practical Application of the Golden Rule. As enunciated by the Master Teacher on the hillsides of Judea nearly two thousand years ago, the golden rule runs, “Therefore all things whatsoever ye would that men should do to you, do ye even so to them; for this is the law and the prophets.”
Pretty good wisdom to pass along, wouldn’t you say? Which point spoke to you and why?
We can learn so much from those who have walked ahead of us….
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