????
SEPT. 19, 1974
1 Going Int.
..*- ! .
^ : by
Charles T. Byrd Jr.
<* * _ .
<>
At one time or another, most
people have the thought of going
into business for themselves. The
idea of* ownership, freedom in
decision-making, and being your
own boss certainly has great
* * a *
universal appeai.- ine tragic tact
is that many do not realize the
dedication to hardwork and the
many hazards 'that busint&s
equity may present.-^
First let's deal with the idea of
ownership. There are three basic
forms of business organization the
sole proprietorship the
partnership and the corporation.
The specific type of organization
most suitable for any particular
business' must be decided
dependent upon the peculiarities
of the business, the resources of
the organizers, and the amount of
liability (risk) to be assumed, In
any case, ownership usually is
synonomous with contributed
capital. -TTie paradox of ownership
is evident when the capital
necessary to commence
operations must be borrowed.
This debt financing . o?, a new
.. venture is not only difficult to
obtain but usually causes
financial pressures that an-infant
business and owner cannot
relieve. -
Secondly, the concept, of
freedom in decision-making is a
misnomer when dealing with the
_i reality of the process. Decisions
must be made within the constraints
of time, experience,
business resources (financial
ffSftian, and physical) and ethics.
The "bondage of decision-tfiakliig
can become very intense when
the choice between alternatives
may mean the "life or death" of
your economic dream.
Ig the third case, being your
own boss creates your own
headaches for which you are the
only remedy. It often means
doing the job when no one else
will, solving problems that others
don't know exist, and starting the
second half of the working day
u/hon fho cnn nftftp
> VII VIIV ouil UUWI1.
<J_L_
Wachovia Joins
Nationwide
Network
Wachovia Mortgage Company
has announced that it has become
a part of the Automated Morgage
Market Information Network,
a nationwide mortgagetrading
information system.
Through AMMINI7T, Wachovia
Mortgage Company will have
. instant access to the largest
possible market and the most
? advantageous interest rates.
"In this way," said the mortgage
company's president,,
Williams I>. Arant,J?\, "we are
trying to provide the most constant
and adequate supply of
mortgage funds to our community
that we can. AMMINKT
is quite new and we hope it will
work, because it will hopefully
attract needed new investors into
- housing finance and improve the
liquidity of current housing investors.
"
AMMINKT Inc. is a nonprofit
corporation sponsored by the
Mortgage Bankers Association of
America, the American Bankers
Association, the Federal Home
I ,oan Mortgage Corporation, the
National Association of Mutual
Savings Banks, the National
' Savings & Ix>an league and the
U.S. -League of Savings
Associations.
The system, similar to that
used by the National Association
of Securities Dealrtrs for trarlinu
<s 7" ?
over-the-counter stocks, allows
traders to list offers to buy and
sell mortgage investmentswhole
loans, participations or
See Network Page 6
4 - .
TP
'V"V^'T"7 ""."""I
6 Business I
s
v I
* * *
Although this article has
served to expose some of the
negative aspects of entrepreneurship,
it is written with
the hope Of Inspiring a positive
approach to the formation,
management, and goals of a
successful business. . The
necessity of securing
professional assistance cannot be
\ overemphasized. Using the expertise
of an accountant, banker,
and lawyer can lighten the
burden of decision-making.
THpsp inHiviHnals arp trained to
effectively handle specific needs
of the business community and
their advice often increases the
longevity of the business entity or
au
cuauics ine owner 10 more
quickly realize when his in_
vestment is no 'longer
economically sound. r "
In spite of all efforts to seek
assistance, the heart of the
business concern is kept pumping
by the effective manager. The
manager must fill the void that
outside aid cannot. He must
possess the expertise in his
chosen field of endeavor. Not only
must he know what needs to be
done, he must assume the role "of
a leader by influencing other
individuals to perform effectively.
The coordination of these activities
leads to a successful
business venture and the
financial rewards and moral
satisfaction make alkthe effort
worth the attempt.
WSSU Trustees
Hold 1st Meet
The Winston-Salem State
University Board of Trustees
held its first meeting of the
1974-75 academic year on
Wednesday, September 11th
on the^ WSSU campus. The
election of hew officers and
the receiving of administrative
staff reports
were the primary agenda
items.
The Board re-elected Mr.
?r\C. Ross '-'"Chairman; Mr
Ralph Stockton, Jr. Vice<
hairman; and Mr. Roland H.
Hayes, Secretary. All three
men served most admirably
in these positions during their
previous terms in office.
All committee chairpersons
were re-appointed. It is expected
that this continuity in
responsive leadership will be
h positive factor during
WSSU's current phase of
rapid growth and development.
The administrative
staff reports provided an
overview of the University's
progress and a discussion of
some of the inherent problems
of rapid growth^ they^also^
outlined some immediate and
long-range plans for further
development.
"
j rui
| SAF
S OFF
The City of WINSTON
applications from qualifie
J seeking interesting, exciti
Public Safety Officers ar
Police training and ear
Excellent employee benef
City Hall.
I
EQUAL EMF
OPPORTUNITY
J . 'i
WINSTON-SALEM CHRONICLE
*?
Winston-Salem Man Transit (WS
transportation program for th
obtained from information
_ to give np yonr seat foi
. the bos.
Piedmont Manag
% *
Conference Oct.
Practicality and utility is the
emphasis of the annual Piedmont
Management- Conference Ho b<t
held Oct. 1. and Oct. 2 at the
Benton Convention Center.
The conference, sponsored by
the greater Winston-Salem
Chamber of Commerce, will
feature Bob Richards, Olympic
pole-vaulter , of -the 1950's and
"wheatie" champion. He will
deliver a talk on motivation
entitled "The Greatness In You."
The keynote speaker for the
small business workshops will be
the man behind "pack power,U_
N.C. State Coach Norm Sloan. He
was voted the NCAA Coach of the
year after his team won the 197374
National Collegiate Basketball
Championship. Coach Sloan will
speak on an area of crucial
pnilpprn t n ouoruAno in
?w V ? V i J WIIV , III
management or not - TimeControl,
Self-Control, and
motivation.
The conference takes on a new
slant this year. This new area is
devoted to the problems incurred
in the ownership and
management of small businesses
(gener&lly ' classified as those .
with fewer than 200 employees).
Leading off this year's
program will be Benton H. Burns,
a specialist in the field of pension"
design and administration, who
serves as Vice President and
*
'"""""""""""i i
JLIC {
:ETY !
ICER S
-SALEM is now accepting
u men ana women wno are .
ing and rewarding careers.
e given excellent Fire and
n $644 - $998 per month,
its. Apply Personnel Office*
i - * '1
'LOYMENT 5
EM PLOYER
&
rnmmmmmmmmmmm
< *
* V
IMT) recently announced Its
e elderly. The program can be
of the WSMT.lt to worthwhile
r the elderly II you are riding
:ement
*
1st & 2nd
*7 T
Director o! the advanced underwriting
department with a
large mid-western life insurance
company. Mr. Burns will sfteak
retirement plans with emphasis
on the current pension legislation
in Congress. Not only timely, this
material is of absolute necessity^
to those individual^ with or
contemplating qualified
retirement plans, whether incorporated
or unincorporated.See
Piedmont
Page 6
I 5 5 discount <
I more purchas
I Newiy-W
I Pay-Less Now
I _For all 18 Piecea
I Modem BEDROOM
OtotMT Omt 1 Mirvw
MNh mi bi Sfriwp
I
S'f
I Yom Always Pay
I Slate's PA
I nnrnmiM
I Now 2 Sfores
*505 N. Liberty St.,
tOW HurrtW
*820 Akron Drive and
(CIom to the Atrpa
-m 1~
s
? PAGE 3
Math Could
Be Fun
To Study
That the study of mathematics
^~can be butli fun and meaningful
will be the thesis of a two-day
meeting at A&T State University
October 4-5.
The statewide mathematics^
conference on 44Motivation: Key
to Success*1 will be sponsored by
the North Carolina Council of
Teachers of Mathematics in
conjunction-, with the , State .... _
Department of Mathematics at
A&T. More than 1,000 persons are
expected to attend the meeting.
"We have sought to bring some
of the natiofi's foremost ,
authorities on the teaching of
mathematics to these sessions,"
said Mrs. Virginia Newell,
president of the Council. "We
would hope that teachers of all
levels from kindergarten through
college will avail themselves of .
this opportunity." Mrs. Newell is
on the staff at Winston-Salefti
State University7
Consultants for the conference will
include Chuck Allen of the
Ix>s Angeles City Schools system;
Audrey Buffington of the
Maryland Department of
J'education; Jack Frymier of Ohio
State University; Robert Kalin?of
Florida State University, Robert
I<aing of Western Michigan
University and Zalman Usiskin of
the University of Chicago.
"Allen really takes the
-drudgery out of mathematics and
makes it. sa much fun for the
teachers^as well as the students,"
added Mrs. Newell.
Also featured during the
conference ~will be^ workshops,
films and cotnmercial and
student exhibits. A banquet on
Oct. 4 at 7 p.m. and a luncheon on
? Oct. 5 at 12:30 p.m. will beheld in
the new Student Dining Center at
A&T.
Persons interested in attending
the conference?are asked?to
contact Mrs. Newell at WinstonSalem
State University and the
Department of Mathematics at
A&T.
. *
>n any $ 25 or I
e with this ad I
ed Special I
re at 1 LOW PRICE I
'A-BID and Matching I
IAIR in Heavy Vinyl I
tabus
1 >3881 I
5-PC. OIMETTC I
I 1 finj
f 1 I II
l' |
Table ft 4 Chairs
In Durable Vinyl I
' less ?f Pmy-lMs
Y-LESS I
I COMPANY I
to Serve You! I
722-1148 ~~
V IMg ) H ^
Glenn Ave. 767-4594
?t> Opa* Niqhtft tH 1T^