At annual college program
Priorities for success
outlined by businessman
A South Carolina state senator who is
president of Copy Cat, Inc., in Greenville,
told a group of high school and college
students “that making a lot of money
should not be your first priority as a
businessman or businesswoman ’ ’.
David Thomas was the featured speaker
for the Horizons in Business program,
sponsored by the Department of Business,
and held annually during the Fall
Semester.
He spoke in Turner Auditorium on
“Making It Big in Small Business: Ad
vantages, Disadvantages, and Risks of
Being an Entrepreneur.” Mrs. Dorothy
Wallace, chairman of the Department of
Business, presided and introduced
Thomas.
Business Opportunities
Thomas said the advantages of owning
your own business are many. He said first
it is a way to make money. He told of a
friend who stands to make $250,000 in a
real estate deal in his hometown of
Greenville.
He said it gives you the opportunity to be
creative and imaginative. He said his
business. Copy Cat, began by giving one-
day turnover on business cards, an in
novative practice that attracted con
siderable business.
He said another advantage is the freedom
to do what you want to do. In a large
company, someone else tells you what to
do. He said when you won you own
business, you make the decisions.
Thomas said the security of knowing you
. can not be fired is an advantage. “You’re
your own boss and no one is going to fire
you. ’ ’ He said he was fired once when jobs
were eliminated in a bank and it’s not a
pleasant experience.
He said not to rule out becoming part of
a family-owned business. He said if you
can get along with your family, it might be
a good move to become associated with the
family business. It might be yours in ten
years or so, he said, so it might be to your
advantage to put up temporarily with any
problems arising from working with
relatives.
Stan Small
He said some possible businesses that are
profitable with a small investment include
mowing lawns, painting, running an office
supply company or hot dog stand. He told
the students they could hire others to help
with the mowing or painting. He said the
order of getting involved is to get the idea,
implement the idea, and if it’s not working
“get out and don’t spin your wheels.”
Thomas emphasized there are also
disadvantages to owning your own
business. One is the danger of theft from
your own employees. He said you must
have a good accounting system to avoid
internal theft. “Theft is a serious problem
for the small business. It could put you out
I
David Thomas, of Greenville, S. C., was
the featured speaker for the annual
business program.
of business.” He warned that “people are
not honest today.” He added, “You have
to watch your money. ’ ’
He said another disadvantage is the
unpleasant task of firing an employee. He
called this the “most distasteful part of
business.” He said it is not enjoyable
having to confront a slack employee.
You can not depend on a steady income,
he warned as another disadvantage. He
also said that you may not have a
retirement program, that a large business
could offer.
Other Risks Listed
For some, another disadvantage is “not
escaping your business.” He said this is
more of a problem for some businesses
than others such as for a doctor or dentist.
He then listed some risks. He said you
could go bankrupt. He gave the example of
the person who is running a hot dog stand.
He has a year’s lease but goes out of
business after three months. A lien may be
placed on his own property and he may
receive a bad credit rating. The tax people
may track him down, to add to his woes.
Another risk is that the success of similar
businesses may put you out of business. He
said he once ran a small grocery store that
went out of business when large super
markets came to Greenville.
He said he spent many sleepless nights
when he almost lost his printing business.
He reported the business is on firm ground
now but not before he went through a lot of
agony.
He told of a friend who once managed
100 people in a floor covering business. He
lost the business and now lays floors for a
living.
You should avoid becoming overex
tended, he said. This can lead to business
disaster. He said some people in business
are so absorbed in their business that they
neglect their family and friends and
relationships suffer. Some are so
aggressive they neglect their husbands or
wives and their children.
Set Right Priorities
He told the students they must have the
right priorities. He quoted scripture,
“What does it profit a man to gain the
whole world and lose his own soul?”
“If money is your first goal, so what? he
asked. “If you gain it, so what? Money can
only buy a certain degree of happiness.
How many cars do you need to own? Jesus
said, ‘Seek first the Kingdom of God.’
Don’t be money hungry. If you become
rich, fine, but that shouldn’t be your only
priority.”
He said your first priority should be
God. He said be conscientious about doing
the best you can in your business but “put
God and your family first. ’ ’
A Republican, Thomas represents
District No. 8A, Greenville County. A
Westminister native, he is a graduate of the
University of North Carolina at Charlotte
and holds masters degrees from South
western Baptist Theological Seminary and
Texas Christian University.
Thomas is a former member of the
Cathi Bames of Casual Comer, Norfolk,
Va., advised students to ‘‘Dress for
Success”.
Greenville City Council and was Mayor
pro tem, 1983-84. He began his service in
the Senate in 1985.
Horizons in Business also featured five
concurrent sessions that were presented
twice. Cathi Bames of Casual Comer,
Norfolk, Va., spoke on “Dress for
Success.” „
See BUSINESS, Page Ten
Department of Business professors, Mrs. Dorothy Wallace, chairman, and Dr. John
Virkler, economics, express appreciation to David Thomas for his presentation to the
large group of students attending the Horizons in Business program.
PAGE EIGHT—7>ie Chowanian, December. 1988