Excerpt from Credits and Collections
It is extraordinary, but true, that business is the only profession which men can enter without previously preparing themselves. A man cannot become a doctor, a lawyer, an architect, he cannot become even a stonemason or a hodcarrier without preparation, but he can always go into business no matter how inadequately prepared he may be in the science of business. This fact probably accounts for the great number of failures in business.
It is because there are so many failures in business that the credit man has become a prominent figure in commercial life. It is his duty to safeguard his firm against losses due to failures. Up to a comparatively short time ago, few credit men thought of themselves as sales-promoters. They were content to exercise a purely destructive function.
Within the last few years a remarkable change has been noted, and the credit man who is not constructive is now out of date. By a constructive credit man I mean one who is a sales-builder and a profit-maker.
A credit man may be constructive in many ways, but principally by helping those customers whose failure to prosper is due to lack of capital or lack of knowledge about business science. The first he can aid by judicious extension of credit, while the second can be helped by being taught modem business methods.
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