If the first plan which you adopt does not work successfully, replace it with a new plan, if this new plan fails to work, replace it, in turn with still another, and so on, until you find a plan which DOES WORK. Right here is the point at which the majority of men meet with failure, because of their lack of PERSISTENCE in creating new plans to take the place of those which fail.

The most intelligent man living cannot succeed in accumulating money --- nor in any other undertaking --- without plans which are practical and workable. Just keep this fact in mind, and remember when your plans fail, that temporary defeat is not permanent failure. It may only mean that your plans have not been sound. Build other plans. Start all over again.

Thomas A. Edison "failed" ten thousand times before he perfected the incandescent electric light bulb. That is --- he met with temporary defeat ten thousand times, before his efforts were crowned with success.

Temporary defeat should mean only one thing, the certain knowledge that there is something wrong with your plan. Millions of men go through life in misery and poverty, because they lack a sound plan through which to accumulate a fortune.

Henry Ford accumulated a fortune, not because of his superior mind, but because he adopted and followed a PLAN which proved to be sound. A thousand men could be pointed out, each with a better education than Ford's, yet each of whom lives in poverty, because he does not possess the RIGHT plan for the accumulation of money.

Your achievement can be no greater than your PLANS are sound. That may seem to be an axiomatic statement, but it is true. Samuel Insull lost his fortune of over one hundred million dollars. The Insull fortune was built on plans which were sound. The business depression forced Mr. Insull to CHANGE HIS PLANS; and the CHANGE brought "temporary defeat," because his new plans were NOT SOUND. Mr. Insull is now an old man, he may, consequently, accept "failure" instead of "temporary defeat," but if his experience turns out to be FAILURE, it will be for the reason that he lacks the fire of PERSISTENCE to rebuild his plans. No man is ever whipped, until he QUITS --- in his own mind.

This fact will be repeated many times, because it is so easy to "take the count" at the first sign of defeat.