45.
Every year the business man goes over his stock, tools, fixtures, and accounts, and prepares a statement of assets and liabilities so as to get a fairly accurate understanding of his profit and loss.
If he didn't take this inventory, his net worth would be a matter of guess work.
This inventory, which deals with money, materials, etc., and things which are mixed more or less with the human element, is affected by conditions of trade, crops, competition, supply and demand.
The business man takes all these conditions into consideration in preparing for the coming year. He red flags the mistakes and green flags the good plans.
Self Inventory.
Listing the Liabilities.
The business man should carry the inventory further. Every month or so he should take a careful inventory of himself, putting down his assets of health, initiative, patience, ability to work, smiles, honesty, sincerity, and the like. So also he should put down on the debit side in the list of liabilities the pull-backs, hindrances and other business-killers. These items are untruth, unfairness, sharp practice, grouchiness, impatience, worry, ill-health, gloom, meanness, broken word, unfilled promises and the like.
In making up the inventory, pay particular attention to your habits: smoking, drinking, over-eating, useless display, useless social functions, and other useless things that pull on your nerves and your pocket book.