From Small (accounting jobs) Business To Big Business: Sears, Roebuck and Co
No commentsBy Cash Miller
Often a person is led onto the path of a becoming a successful businessman by a series of fortunate events that transpire. It could be said that Richard Warren Sears stumbled upon just such a path. But once he was on that path he did everything he could to not fall off. In the end he left not just a company but a legacy. So how exactly did it all begin? Amazingly enough it started with a failed scam.
You see apparently in 1886 there had developed a fairly common scam of wholesalers shipping items to retailers in other parts of the country. But the retailer that it was shipped to would never have actually ordered the merchandise. So of course the retailer would refuse the item. Well the wholesaler who had already hiked the price above normal would then offer the items on consignment at a reduced price. He’d justify this by telling the retailer that the cost of shipping these items back would be even worse for the wholesaler. The retailer suddenly thinking he was getting a deal would then agree to the new price and accept the merchandise.
This is how Richard Sears got lucky indeed. A Chicago jeweler was trying to pull just such a scam on a retailer by the name of Edward Stegerson. But Mr. Stegerson was aware of the scam and wasn’t about to get taken. So he flatly refused to accept the order. Richard Sears though had learned of the watches and he jumped at the chance since he was able to get them on consignment. After agreeing to pay a price of $12 per watch he then turned around and began to sell them at $14 per watch. By the time he was out of watches he’d made a profit of about $5,000. And with that the R.W. Sears Watch Company was born.
By 1887 Richard Sears found it necessary to move his watch company to Chicago, Illinois. That same year he decided to hire his first employee. A watch repairman by the name of Alvah Curtis Roebuck. By 1893 it was decided that the two should become partners and Sears, Roebuck, and Co. was officially born. That was also the year that the company published its first ever catalog. Previously they had bought ad space in other catalogs of the time. Within four years of that first catalog which had only offered watches they were offering a variety of other goods. Items such as clothing, farm plows, bicycles, silverware and much more could be found inside their catalogs.
Eventually their catalog would grow to 500 pages and be offered to a number of rural customers across the United States. Long before they had department stores they had the catalog which would be eagerly awaited by many of the company’s customers. By 1906 they had opened their first catalog plant inside the original Sears Tower.
Richard Warren Sears who would amass a sizable fortune during his lifetime passed away in 1914 at the relatively young age of 50. Alvah Curtis Roebuck who for health reasons left the company for a number of years but eventually returned would live to be 84. He passed away in 1948. When asked to compare his wealth to that amassed by Richard Sears after Mr. Sears had already passed he was quoted as saying. “He’s dead, me I never felt better”.
It’s important in business that we remember our own health. You can have the wealth of a world but if you are not around to enjoy it then it means nothing. Entrepreneurs often work in stressful environments but they fail to pay attention to their health even though a look in a mirror would reveal the truth. Mr. Sears would be proud of the legacy he left but would have probably liked to have enjoyed it longer. You need to make sure you do not sacrifice your health for your business. You want to be around to enjoy your success.
Cash Miller is an experienced entrepreneur and speaker who has spent over a decade as a small business owner. His years of experience in small business cover a variety of topics. If you are looking for more small business help please check out http://www.smallbusinessdelivered.com
Carbon Copy Pro Features And Benefits
By Roberto Garabelli
” Your Success”
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The problem with most companies or leaders is that 95% of the network marketing companies dont do it right! Simply because they dont know how to market. You must realize that some network marketers are like home builders except when they fail to build their house, they go back to the tool store and try a new hammer. When that doesnt solve the problem, they go do it again and again and again! (Like trying different companies and opportunities over the years).
NOT WITH US! The SYSTEM is the KEY! Remember Good Systems Work - People Fail!
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Find Accounting Information And Resources For Your Business
Good Accounting Practices is the Key to Your Company’s Survival
By Christine Harrell
Running a business involves attention to a wide variety of company functions. Whether you are a one-person business run out of a spare bedroom or a large organization with hundreds of employees one thing is true: if you don’t know where your money is then you are doomed to fail.
Studies Show Good Accounting is Good Business:
According to The Small Business Book, the frequency and quality of a company’s internal accounting services directly correlates to the organization’s survival rate.
-Monthly Accounting: 79.9% Company Survival Rate
-Quarterly Accounting: 71.5% Company Survival Rate
-Half Yearly: 49.9% Company Survival Rate
-Annually: 36% Company Survival Rate
Even if a company does manage their accounting services regularly the quality of accounting services can also impact a company survival rate.
Quality of Accounting Records:
-Excellent or Good: 63% Company Survival Rate
-Average: 49.8% Company Survival Rate
-Inadequate: 20.1% Company Survival Rate
-Poor or Non Existent: 2.5% Company Survival Rate
Without proper accounting services in place, it is impossible to plan for the future. When situations arise such as a sudden increase in purchasing costs, you may not see the problem until it reaches a critical juncture.
When you file your taxes, good accounting records make the process a lot easier. In the event of an audit your bookkeeping services can directly decide your company’s future.
But I Can’t Afford to Hire an Accountant:
The obvious and flip response to that is, “You can’t afford not to hire an accountant.” Saving money by offloading bookkeeping services on someone inexperienced is a false economy. If your company fails, that saved money won’t do you any good.
To be fair, it really isn’t feasible for some companies to have an accountant on staff. Small organizations may not have enough work to keep a full-time accountant busy, requiring the person to waste time with other work to fill out a 40-hour week. Often accounting services fall to the shoulders of the owner who may be flying blind and who certainly has better things to do building the business.
There is a solution for all businesses large and small: outsourced accounting services.
Let the Experts Do the Job:
By hiring an outside accounting firm to take care of your books, you have qualified and experienced professionals handling the problem. These are people who do nothing but accounting all day and have the background to get your company’s financial records in order.
This doesn’t mean you give up control of your books. Today almost all accounting organizations use online bookkeeping services that give you full access to your records at any time of day, even after hours. You are never out of the loop or surprised by developments as long as you make a point of checking your financial reports now and then.
Although your data is easily accessible, that doesn’t mean it is insecure. Access is limited by the latest in web encryption technology. You get the benefit of services such as regular data backup and network security, services that your company may not be able to provide.
Give your business the competitive edge by updating your accounting services before it’s too late.
Author is a freelance copywriter. For more additional information on Controller
Services, visit http://www.OSIBusinessServices.com.
Sunday, August 24th, 2008 at 1:10 am and is filed under business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
