The Fourth Step toward Riches

THERE are two kinds of knowledge. One is general, the other is specialized. General knowledge, no matter how great in quantity or variety it may be, is of but little use in the accumulation of money. The faculties of the great universities possess, in the aggregate, practically every form of general knowledge known to civilization. Most of the professors have but little or no money. They specialize on teaching knowledge, but they do not specialize on the organization, or the use of knowledge.

KNOWLEDGE will not attract money, unless it is organized, and intelligently directed, through practical PLANS OF ACTION, to the DEFINITE END of accumulation of money. Lack of understanding of this fact has been the source of confusion to millions of people who falsely believe that “knowledge is power.” It is nothing of the sort! Knowledge is only potential power. It becomes power only when, and if, it is organized into definite plans of action, and directed to a definite end.

This “missing link” in all systems of education known to civilization today, may be found in the failure of educational institutions to teach their students HOW TO ORGANIZE AND USE KNOWLEDGE AFTER THEY ACQUIRE IT.

Many people make the mistake of assuming that, because Henry Ford had but little “schooling,” he is not a man of “education.” Those who make this mistake do not know Henry Ford, nor do they understand the real meaning of the word “educate.” That word is derived from the Latin word “educo,” meaning to educe, to draw out, to DEVELOP FROM WITHIN.

An educated man is not, necessarily, one who has an abundance of general or specialized knowledge. An educated man is one who has so developed the faculties of his mind that he may acquire anything he wants, or its equivalent, without violating the rights of others. Henry Ford comes well within the meaning of this definition.

During the world war, a Chicago newspaper published certain editorials in which, among other statements, Henry Ford was called “an ignorant pacifist.” Mr. Ford objected to the statements, and brought suit against the paper for libeling him. When the suit was tried in the Courts, the attorneys for the paper pleaded justification, and placed Mr. Ford, himself, on the witness stand, for the purpose of proving to the jury that he was ignorant. The attorneys asked Mr. Ford a great variety of questions, all of them intended to prove, by his own evidence, that, while he might possess considerable specialized knowledge pertaining to the manufacture of automobiles, he was, in the main, ignorant.

Mr. Ford was plied with such questions as the following:

“Who was Benedict Arnold?” and “How many soldiers did the British send over to America to put down the Rebellion of 1776?” In answer to the last question, Mr. Ford replied, “I do not know the exact number of soldiers the British sent over, but I have heard that it was a considerably larger number than ever went back.”

Finally, Mr. Ford became tired of this line of questioning, and in reply to a particularly offensive question, he leaned over, pointed his finger at the lawyer who had asked the question, and said, “If I should really WANT to answer the foolish question you have just asked, or any of the other questions you have been asking me, let me remind you that I have a row of electric push-buttons on my desk, and by pushing the right button, I can summon to my aid men who can answer ANY question I desire to ask concerning the business to which I am devoting most of my efforts. Now, will you kindly tell me, WHY I should clutter up my mind with general knowledge, for the purpose of being able to answer questions, when I have men around me who can supply any knowledge I require?”

There certainly was good logic to that reply.

That answer floored the lawyer. Every person in the courtroom realized it was the answer, not of an ignorant man, but of a man of EDUCATION. Any man is educated who knows where to get knowledge when he needs it, and how to organize that knowledge into definite plans of action. Through the assistance of his “Master Mind” group, Henry Ford had at his command all the specialized knowledge he needed to enable him to become one of the wealthiest men in America. It was not essential that he have this knowledge in his own mind. Surely no person who has sufficient inclination and intelligence to read a book of this nature can possibly miss the significance of this illustration.

Before you can be sure of your ability to transmute DESIRE into its monetary equivalent, you will require SPECIALIZED KNOWLEDGE of the service, merchandise, or profession which you intend to offer in return for fortune. Perhaps you may need much more specialized knowledge than you have the ability or the inclination to acquire, and if this should be true, you may bridge your weakness through the aid of your “Master Mind” group.

Andrew Carnegie stated that he, personally, knew nothing about the technical end of the steel business; moreover, he did not particularly care to know anything about it. The specialized knowledge which he required for the manufacture and marketing of steel, he found available through the individual units of his MASTER MIND GROUP.

The accumulation of great fortunes calls for POWER, and power is acquired through highly organized and intelligently directed specialized knowledge, but that knowledge does not, necessarily, have to be in the possession of the man who accumulates the fortune.

The preceding paragraph should give hope and encouragement to the man with ambition to accumulate a fortune, who has not possessed himself of the necessary “education” to supply such specialized knowledge as he may require. Men sometimes go through life suffering from “inferiority complexes,” because they are not men of “education.” The man who can organize and direct a “Master Mind” group of men who possess knowledge useful in the accumulation of money, is just as much a man of education as any man in the group. REMEMBER THIS, if you suffer from a feeling of inferiority, because your schooling has been limited.

Thomas A. Edison had only three months of “schooling” during his entire life. He did not lack education, neither did he die poor.

Henry Ford had less than a sixth grade “schooling” but he has managed to do pretty well by himself, financially.

SPECIALIZED KNOWLEDGE is among the most plentiful, and the cheapest forms of service which may be had! If you doubt this, consult the payroll of any university.


First of all, decide the sort of specialized knowledge you require, and the purpose for which it is needed. To a large extent your major purpose in life, the goal toward which you are working, will help determine what knowledge you need. With this question settled, your next move requires that you have accurate information concerning dependable sources of knowledge. The more important of these are:


One’s own experience and education


Experience and education available through cooperation of others (Master Mind Alliance)


Colleges and Universities


Public Libraries (Through books and periodicals in which may be found all the knowledge organized by civilization)


Special Training Courses (Through night schools and home study schools in particular.)

As knowledge is acquired it must be organized and put into use, for a definite purpose, through practical plans. Knowledge has no value except that which can be gained from its application toward some worthy end. This is one reason why college degrees are not valued more highly. They represent nothing but miscellaneous knowledge.

If you contemplate taking additional schooling, first determine the purpose for which you want the knowledge you are seeking, then learn where this particular sort of knowledge can be obtained, from reliable sources.

Successful men, in all callings, never stop acquiring specialized knowledge related to their major purpose, business, or profession. Those who are not successful usually make the mistake of believing that the knowledge acquiring period ends when one finishes school. The truth is that schooling does but little more than to put one in the way of learning how to acquire practical knowledge.

With this Changed World which began at the end of the economic collapse, came also astounding changes in educational requirements. The order of the day is SPECIALIZATION! This truth was emphasized by Robert P. Moore, secretary of appointments of Columbia University.


“Particularly sought after by employing companies are candidates who have specialized in some field–business-school graduates with training in accounting and statistics, engineers of all varieties, journalists, architects, chemists, and also outstanding leaders and activity men of the senior class.

“The man who has been active on the campus, whose personality is such that he gets along with all kinds of people and who has done an adequate job with his studies has a most decided edge over the strictly academic student. Some of these, because of their all-around qualifications, have received several offers of positions, a few of them as many as six.

“In departing from the conception that the ‘straight A’ student was invariably the one to get the choice of the better jobs, Mr. Moore said that most companies look not only to academic records but to activity records and personalities of the students.

“One of the largest industrial companies, the leader in its field, in writing to Mr. Moore concerning prospective seniors at the college, said:

“‘We are interested primarily in finding men who can make exceptional progress in management work. For this reason we emphasize qualities of character, intelligence and personality far more than specific educational background.’


“Proposing a system of ‘apprenticing’ students in offices, stores and industrial occupations during the summer vacation, Mr. Moore asserts that after the first two or three years of college, every student should be asked ‘to choose a definite future course and to call a halt if he has been merely pleasantly drifting without purpose through an unspecialized academic curriculum.’

“Colleges and universities must face the practical consideration that all professions and occupations now demand specialists,” he said, urging that educational institutions accept more direct responsibility for vocational guidance.

One of the most reliable and practical sources of knowledge available to those who need specialized schooling, is the night schools operated in most large cities. The correspondence schools give specialized training anywhere the U. S. mails go, on all subjects that can be taught by the extension method. One advantage of home study training is the flexibility of the study programme which permits one to study during spare time. Another stupendous advantage of home study training (if the school is carefully chosen), is the fact that most courses offered by home study schools carry with them generous privileges of consultation which can be of priceless value to those needing specialized knowledge. No matter where you live, you can share the benefits.

Anything acquired without effort, and without cost is generally unappreciated, often discredited; perhaps this is why we get so little from our marvelous opportunity in public schools. The SELF-DISCIPLINE one receives from a definite programme of specialized study makes up to some extent, for the wasted opportunity when knowledge was available without cost. Correspondence schools are highly organized business institutions. Their tuition fees are so low that they are forced to insist upon prompt payments. Being asked to pay, whether the student makes good grades or poor, has the effect of causing one to follow through with the course when he would otherwise drop it. The correspondence schools have not stressed this point sufficiently, for the truth is that their collection departments constitute the very finest sort of training on DECISION, PROMPTNESS, ACTION and THE HABIT OF FINISHING THAT WHICH ONE BEGINS.

I learned this from experience, more than twenty-five years ago. I enrolled for a home study course in Advertising. After completing eight or ten lessons I stopped studying, but the school did not stop sending me bills. Moreover, it insisted upon payment, whether I kept up my studies or not. I decided that if I had to pay for the course (which I had legally obligated myself to do), I should complete the lessons and get my money’s worth. I felt, at the time, that the collection system of the school was somewhat too well organized, but I learned later in life that it was a valuable part of my training for which no charge had been made. Being forced to pay, I went ahead and completed the course. Later in life I discovered that the efficient collection system of that school had been worth much in the form of money earned, because of the training in advertising I had so reluctantly taken.

We have in this country what is said to be the greatest public school system in the world. We have invested fabulous sums for fine buildings, we have provided convenient transportation for children living in the rural districts, so they may attend the best schools, but there is one astounding weakness to this marvelous system–IT IS FREE! One of the strange things about human beings is that they value only that which has a price. The free schools of America, and the free public libraries, do not impress people because they are free. This is the major reason why so many people find it necessary to acquire additional training after they quit school and go to work. It is also one of the major reasons why EMPLOYERS GIVE GREATER CONSIDERATION TO EMPLOYEES WHO TAKE HOME STUDY COURSES. They have learned, from experience, that any person who has the ambition to give up a part of his spare time to studying at home has in him those qualities which make for leadership. This recognition is not a charitable gesture, it is sound business judgment upon the part of the employers.

There is one weakness in people for which there is no remedy. It is the universal weakness of LACK OF AMBITION! Persons, especially salaried people, who schedule their spare time, to provide for home study, seldom remain at the bottom very long. Their action opens the way for the upward climb, removes many obstacles from their path, and gains the friendly interest of those who have the power to put them in the way of OPPORTUNITY.

The home study method of training is especially suited to the needs of employed people who find, after leaving school, that they must acquire additional specialized knowledge, but cannot spare the time to go back to school.

The changed economic conditions prevailing since the depression have made it necessary for thousands of people to find additional, or new sources of income. For the majority of these, the solution to their problem may be found only by acquiring specialized knowledge. Many will be forced to change their occupations entirely. When a merchant finds that a certain line of merchandise is not selling, he usually supplants it with another that is in demand. The person whose business is that of marketing personal services must also be an efficient merchant. If his services do not bring adequate returns in one occupation, he must change to another, where broader opportunities are available.

Stuart Austin Wier prepared himself as a Construction Engineer and followed this line of work until the depression limited his market to where it did not give him the income he required. He took inventory of himself, decided to change his profession to law, went back to school and took special courses by which he prepared himself as a corporation lawyer. Despite the fact the depression had not ended, he completed his training, passed the Bar Examination, and quickly built a lucrative law practice, in Dallas, Texas; in fact he is turning away clients.

Just to keep the record straight, and to anticipate the alibis of those who will say, “I couldn’t go to school because I have a family to support,” or “I’m too old,” I will add the information that Mr. Wier was past forty, and married when he went back to school. Moreover, by carefully selecting highly specialized courses, in colleges best prepared to teach the subjects chosen, Mr. Wier completed in two years the work for which the majority of law students require four years. IT PAYS TO KNOW HOW TO PURCHASE KNOWLEDGE!

The person who stops studying merely because he has finished school is forever hopelessly doomed to mediocrity, no matter what may be his calling. The way of success is the way of continuous pursuit of knowledge.

Let us consider a specific instance.

During the depression a salesman in a grocery store found himself without a position. Having had some bookkeeping experience, he took a special course in accounting, familiarized himself with all the latest bookkeeping and office equipment, and went into business for himself. Starting with the grocer for whom he had formerly worked, he made contracts with more than 100 small merchants to keep their books, at a very nominal monthly fee. His idea was so practical that he soon found it necessary to set up a portable office in a light delivery truck, which he equipped with modern bookkeeping machinery. He now has a fleet of these bookkeeping offices “on wheels” and employs a large staff of assistants, thus providing small merchants with accounting service equal to the best that money can buy, at very nominal cost.

Specialized knowledge, plus imagination, were the ingredients that went into this unique and successful business. Last year the owner of that business paid an income tax of almost ten times as much as was paid by the merchant for whom he worked when the depression forced upon him a temporary adversity which proved to be a blessing in disguise.

The beginning of this successful business was an IDEA!

Inasmuch as I had the privilege of supplying the unemployed salesman with that idea, I now assume the further privilege of suggesting another idea which has within it the possibility of even greater income. Also the possibility of rendering useful service to thousands of people who badly need that service.

The idea was suggested by the salesman who gave up selling and went into the business of keeping books on a wholesale basis. When the plan was suggested as a solution of his unemployment problem, he quickly exclaimed, “I like the idea, but I would not know how to turn it into cash.” In other words, he complained he would not know how to market his bookkeeping knowledge after he acquired it.

So, that brought up another problem which had to be solved. With the aid of a young woman typist, clever at hand lettering, and who could put the story together, a very attractive book was prepared, describing the advantages of the new system of bookkeeping. The pages were neatly typed and pasted in an ordinary scrapbook, which was used as a silent salesman with which the story of this new business was so effectively told that its owner soon had more accounts than he could handle.

There are thousands of people, all over the country, who need the services of a merchandising specialist capable of preparing an attractive brief for use in marketing personal services. The aggregate annual income from such a service might easily exceed that received by the largest employment agency, and the benefits of the service might be made far greater to the purchaser than any to be obtained from an employment agency.

The IDEA here described was born of necessity, to bridge an emergency which had to be covered, but it did not stop by merely serving one person. The woman who created the idea has a keen IMAGINATION. She saw in her newly born brain-child the making of a new profession, one that is destined to render valuable service to thousands of people who need practical guidance in marketing personal services.

Spurred to action by the instantaneous success of her first “PREPARED PLAN TO MARKET PERSONAL SERVICES,” this energetic woman turned next to the solution of a similar problem for her son who had just finished college, but had been totally unable to find a market for his services. The plan she originated for his use was the finest specimen of merchandising of personal services I have ever seen.

When the plan book had been completed, it contained nearly fifty pages of beautifully typed, properly organized information, telling the story of her son’s native ability, schooling, personal experiences, and a great variety of other information too extensive for description. The plan book also contained a complete description of the position her son desired, together with a marvelous word picture of the exact plan he would use in filling the position.

The preparation of the plan book required several week’s labor, during which time its creator sent her son to the public library almost daily, to procure data needed in selling his services to best advantage. She sent him, also to all the competitors of his prospective employer, and gathered from them vital information concerning their business methods which was of great value in the formation of the plan he intended to use in filling the position he sought. When the plan had been finished, it contained more than half a dozen very fine suggestions for the use and benefit of the prospective employer. (The suggestions were put into use by the company).

One may be inclined to ask, “Why go to all this trouble to secure a job?” The answer is straight to the point, also it is dramatic, because it deals with a subject which assumes the proportion of a tragedy with millions of men and women whose sole source of income is personal services.



“Why go to all this trouble?” do you ask?

Well, for one thing, the PLANNED PRESENTATION of this young man’s application for a position clipped off no less than ten years of time he would have required to get to where he began, had he “started at the bottom and worked his way up.”

This idea of starting at the bottom and working one’s way up may appear to be sound, but the major objection to it is this–too many of those who begin at the bottom never manage to lift their heads high enough to be seen by OPPORTUNITY, so they remain at the bottom. It should be remembered, also, that the outlook from the bottom is not so very bright or encouraging. It has a tendency to kill off ambition. We call it “getting into a rut,” which means that we accept our fate because we form the HABIT of daily routine, a habit that finally becomes so strong we cease to try to throw it off. And that is another reason why it pays to start one or two steps above the bottom. By so doing one forms the HABIT of looking around, of observing how others get ahead, of seeing OPPORTUNITY, and of embracing it without hesitation.

Dan Halpin is a splendid example of what I mean. During his college days, he was manager of the famous 1930 National Championship Notre Dame football team, when it was under the direction of the late Knute Rockne.

Perhaps he was inspired by the great football coach to aim high, and NOT MISTAKE TEMPORARY DEFEAT FOR FAILURE, just as Andrew Carnegie, the great industrial leader, inspired his young business lieutenants to set high goals for themselves. At any rate, young Halpin finished college at a mighty unfavorable time, when the depression had made jobs scarce, so, after a fling at investment banking and motion pictures, he took the first opening with a potential future he could find–selling electrical hearing aids on a commission basis. ANYONE COULD START IN THAT SORT OF JOB, AND HALPIN KNEW IT, but it was enough to open the door of opportunity to him.

For almost two years, he continued in a job not to his liking, and he would never have risen above that job if he had not done something about his dissatisfaction. He aimed, first, at the job of Assistant Sales Manager of his company, and got the job. That one step upward placed him high enough above the crowd to enable him to see still greater opportunity, also, it placed him where OPPORTUNITY COULD SEE HIM.

He made such a fine record selling hearing aids, that A. M. Andrews, Chairman of the Board of the Dictograph Products Company, a business competitor of the company for which Halpin worked, wanted to know something about that man Dan Halpin who was taking big sales away from the long established Dictograph Company. He sent for Halpin. When the interview was over, Halpin was the new Sales Manager, in charge of the Acousticon Division. Then, to test young Halpin’s metal, Mr. Andrews went away to Florida for three months, leaving him to sink or swim in his new job. He did not sink! Knute Rockne’s spirit of “All the world loves a winner, and has no time for a loser,” inspired him to put so much into his job that he was recently elected Vice-President of the company, and General Manager of the Acousticon and Silent Radio Division, a job which most men would be proud to earn through ten years of loyal effort. Halpin turned the trick in little more than six months.

It is difficult to say whether Mr. Andrews or Mr. Halpin is more deserving of eulogy, for the reason that both showed evidence of having an abundance of that very rare quality known as IMAGINATION. Mr. Andrews deserves credit for seeing, in young Halpin, a “go-getter” of the highest order. Halpin deserves credit for REFUSING TO COMPROMISE WITH LIFE BY ACCEPTING AND KEEPING A JOB HE DID NOT WANT, and that is one of the major points I am trying to emphasize through this entire philosophy–that we rise to high positions or remain at the bottom BECAUSE OF CONDITIONS WE CAN CONTROL IF WE DESIRE TO CONTROL THEM.

I am also trying to emphasize another point, namely, that both success and failure are largely the results of HABIT! I have not the slightest doubt that Dan Halpin’s close association with the greatest football coach America ever knew, planted in his mind the same brand of DESIRE to excel which made the Notre Dame football team world famous. Truly, there is something to the idea that hero-worship is helpful, provided one worships a WINNER. Halpin tells me that Rockne was one of the world’s greatest leaders of men in all history.

My belief in the theory that business associations are vital factors, both in failure and in success, was recently demonstrated, when my son Blair was negotiating with Dan Halpin for a position. Mr. Halpin offered him a beginning salary of about one half what he could have gotten from a rival company. I brought parental pressure to bear, and induced him to accept the place with Mr. Halpin, because I BELIEVE THAT CLOSE ASSOCIATION WITH ONE WHO REFUSES TO COMPROMISE WITH CIRCUMSTANCES HE DOES NOT LIKE, IS AN ASSET THAT CAN NEVER BE MEASURED IN TERMS OF MONEY.

The bottom is a monotonous, dreary, unprofitable place for any person. That is why I have taken the time to describe how lowly beginnings may be circumvented by proper planning. Also, that is why so much space has been devoted to a description of this new profession, created by a woman who was inspired to do a fine job of PLANNING because she wanted her son to have a favorable “break.”

With the changed conditions ushered in by the world economic collapse, came also the need for newer and better ways of marketing PERSONAL SERVICES. It is hard to determine why someone had not previously discovered this stupendous need, in view of the fact that more money changes hands in return for personal services than for any other purpose. The sum paid out monthly, to people who work for wages and salaries, is so huge that it runs into hundreds of millions, and the annual distribution amounts to billions.

Perhaps some will find, in the IDEA here briefly described, the nucleus of the riches they DESIRE! Ideas with much less merit have been the seedlings from which great fortunes have grown. Woolworth’s Five and Ten Cent Store idea, for example, had far less merit, but it piled up a fortune for its creator.

Those seeing OPPORTUNITY lurking in this suggestion will find valuable aid in the chapter on Organized Planning. Incidentally, an efficient merchandiser of personal services would find a growing demand for his services wherever there are men and women who seek better markets for their services. By applying the Master Mind principle, a few people with suitable talent, could form an alliance, and have a paying business very quickly. One would need to be a fair writer, with a flair for advertising and selling, one handy at typing and hand lettering, and one should be a first class business getter who would let the world know about the service. If one person possessed all these abilities, he might carry on the business alone, until it outgrew him.

The woman who prepared the “Personal Service Sales Plan” for her son now receives requests from all parts of the country for her cooperation in preparing similar plans for others who desire to market their personal services for more money. She has a staff of expert typists, artists, and writers who have the ability to dramatize the case history so effectively that one’s personal services can be marketed for much more money than the prevailing wages for similar services. She is so confident of her ability that she accepts, as the major portion of her fee, a percentage of the increased pay she helps her clients to earn.

It must not be supposed that her plan merely consists of clever salesmanship by which she helps men and women to demand and receive more money for the same services they formerly sold for less pay. She looks after the interests of the purchaser as well as the seller of personal services, and so prepares her plans that the employer receives full value for the additional money he pays. The method by which she accomplishes this astonishing result is a professional secret which she discloses to no one excepting her own clients.

If you have the IMAGINATION, and seek a more profitable outlet for your personal services, this suggestion may be the stimulus for which you have been searching. The IDEA is capable of yielding an income far greater than that of the “average” doctor, lawyer, or engineer whose education required several years in college. The idea is saleable to those seeking new positions, in practically all positions calling for managerial or executive ability, and those desiring re-arrangement of incomes in their present positions.

There is no fixed price for sound IDEAS!

Back of all IDEAS is specialized knowledge. Unfortunately, for those who do not find riches in abundance, specialized knowledge is more abundant and more easily acquired than IDEAS. Because of this very truth, there is a universal demand and an ever-increasing opportunity for the person capable of helping men and women to sell their personal services advantageously. Capability means IMAGINATION, the one quality needed to combine specialized knowledge with IDEAS, in the form of ORGANIZED PLANS designed to yield riches.

If you have IMAGINATION this chapter may present you with an idea sufficient to serve as the beginning of the riches you desire. Remember, the IDEA is the main thing. Specialized knowledge may be found just around the corner–any corner!