TVB 150: THE STORY OF JACOB JOHN ASTOR










BUSINESS TRAINING: 
(Culled from Turn-Ideas 2 Cash Business Seminar)

Jacob John Astor illustrated what can be done anywhere. He had mortgage once on a millinery store, and they could not sell bonnets enough to pay the interest on his money. So he foreclosed that mortgage, took possession of the store, and went into partnership with the very same people, in the same store, with the same capital. He did not give them any dollar of capital. They had to sell goods to get any money. Then he left them alone in the store just as they had been before, and he went out and sat down on a bench in the par, in the shade. 

What was John Jacob Astor doing out there, and in partnership with people who had failed on his own hand? He had the most pleasant part of that partnership on his hands. For as John Jacob Astor sat on that bench he was watching the ladies as they went by; and where is the man who would not get rich in that business? As he sat on the bench, if a lady passed him with her shoulders back and head up, and looked straight at the front, as if she did not care if all the world did gaze on her, then he studied her bonnet, and by the time it was out of sight he knew the shape of the frame, the color of the trimmings and the crinkling in the feather. 

Then he went to the milliners in that store and said to them: “Now put into the show window just such a bonnet as I describe to you, because I have already seen a lady who likes such a bonnet. Don't make up any more until I come back." 

John Jacob Astor repeated these same actions many times each day. His milliner’s shop produced only what women ALREADY liked. 

The tide of custom began immediately to turn in, and that has been the foundation of the greatest store in New York in that line, and still exists as one of three stores. Its fortune was made by John Jacob Astor after they had failed in business, not by giving them any more money, but by finding out what the ladies liked for bonnets before they wasted any material in making them up. 

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TOPE A. BANJO, Business Trainer and Author, Trains you to Start-Up profitable Business; and, Manage Business profitably!

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