The most intelligent man living cannot succeed in accumulating
money—nor in any other undertaking—without plans which are practical and workable.
Just keep this fact in mind, and remember when your plans fail, that temporary
defeat is not permanent failure. It may only mean that your plans have not been sound.
Build other plans. Start all over again.
Thomas A. Edison "failed" ten thousand times before he perfected the
incandescent electric light bulb. That is—he met with temporary defeat ten thousand
times, before his efforts were crowned with success.
Temporary defeat should mean only one thing, the certain knowledge that
there is something wrong with your plan. Millions of men go through life in misery and
poverty, because they lack a sound plan through which to accumulate a fortune.
Henry Ford accumulated a fortune, not because of his superior mind, but
because he adopted and followed a PLAN which proved to be sound. A thousand men
could be pointed out, each with a better education than Ford's, yet each of whom
lives in poverty, because he does not possess the RIGHT plan for the accumulation
of money.
Your achievement can be no greater than your PLANS are sound. That may
seem to be an axiomatic statement, but it is true. Samuel Insull lost his fortune of over
one hundred million dollars. The Insull fortune was built on plans which were