Self Help
THE space you occupy and the authority you
exercise may be measured with mathematical
exactness by the service you render.
If you will use your credit in helping market this course I will place it in
your business college, as one of the regular departments of your
curriculum and take entire charge of this newly created department.
No other business college in the city will be able to meet your
competition, for the reason that no other college has such a course
as this.
The advertising that you do in marketing this course will serve, also, to stimulate the demand for your regular business course. You may charge the entire amount that you spend for this advertising, to my department, and the advertising bill will be paid out of that department, leaving you the accumulative advantage that will accrue to your other departments without cost to you.
Now, I suppose you will want to know where I profit by this transaction, and I will tell you. I want you to enter into a contract with me in which it will be agreed that when the cash receipts from my department equal the amount that you have paid out or contracted to pay out for advertising, my department and my course in Advertising and Salesmanship become my own and I may have the privilege of separating this department from your school and running it under my own name.
The plan was agreeable and the contract was closed. (Please keep in mind that my definite purpose was to secure the use of $25,000.00 for which I had no security to offer.)
In a little less than a year the Business College had paid out slightly more than $25,000.00 for advertising and marketing my course and 8 the other expenses incidental to the operation of this newly organized department, while the department had collected and, turned back to the College, in tuition fees, a sum equalling the amount the College had spent, and I took the department over, as a going and self-sustaining business, according to the terms of my contract.
As a matter of fact this newly created department not
only served to attract students for the other departments of the College,
but at the same time the tuition fees collected through this new department
were sufficient to place it on a self-sustaining basis before the end of the
first year.
Now you can see that while the College did not loan me one penny of actual capital, it nevertheless supplied me with credit, which served exactly the same purpose. I said that my plan was founded upon equity; that it contemplated a benefit to all parties concerned.