Take a Look at Joe Cossman's Rules for Success, Guidelines Developed Over a Lifetime in the Business World.
Editor's Note: As part of our tribute to the remarkable Joe Cossman, we're including an article based on Joe's book, How I Made $1,000,000 in Mail Order. This excerpt originally appeared in the Dream Merchant back in 1995.
Everyone in business has certain rules or a code to follow. Our rules developed as a result of our diversified activities. We've been using them from the beginning of our business and find ourselves practicing them even today. Looking back on our many years of successful mail order promotions, we realize that these rules have been, to a large extent, responsible for our success in business. Here they are:
1. Don't Rely on the Opinions of Others--People won't give you an honest and frank opinion of your new product. In fact, it's human nature to disguise a true feeling and strive to be either conservative or enthusiastic.In the years following World War II, there were several rape cases in the Pittsburgh area. As a result, we hired a engineer to design an inexpensive burglar alarm system that would work with a flashlight battery.
We then took it to more than five hundred private homes in the area for a "consumer" test. And people loved the item, claiming that they would certainly buy one when the product hit the market. Based on those interviews, we invested $6,000 in tooling and made ten thousand complete units. But what a shock! When we put the item on the market, the only people who bought the alarm were those who had been molested within the past week!
It was a costly lesson, but we learned not to put much faith in the opinion of others. Not until they actually plunk their dollar down on the counter to buy your product do you know their real opinion.
2. Be Persevering and Keep Digging--This is one of the most important rules. I've seen people within inches of success suddenly quit. By digging and digging, you can turn failure into success. Don't give up!
3. Be Honest--The world isn't as large as you might think. Shady business dealings usually end in embarrassment. Instead, build an honest reputation and people will approach you freely with their ideas.
4. Don't Get Emotional About Your Product--Beginning entrepreneurs often lose big money because they fall in love with a product and allow emotion to sway them. Don't allow your emotions to cloud your good judgment. If you do something successful, let your ego be satisfied, but don't do things merely to satisfy your ego.
5. Be Enthusiastic--I've always said--If you don't effervesce, you're just plain water. Enthusiasm and optimism create a climate conducive to successful thinking and business. And, believe it or not, enthusiasm is an easy habit to develop.
When I awake in the morning, I lie in bed for five or ten minutes and think of the workday ahead with optimism. Of course, there is an occasional morning when I find myself grouchy and grumpy. However, once I make the effort to appear happy, this mood passes quickly. It isn't always easy, but I suggest that you whistle or hum a song upon arising, even if it is against your nature at the time to do so.
Joe Cossman's classic book, How I Made $1,000,000 in Mail Order (And You Can, Too), is available from Fireside Books. It can be ordered through most bookstores or online at Amazon.com
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