Success Through A Positive Mental Attitude

Now while it is true that some bankers won't take the time to learn their client's business, Oran Kite and other officers of the Republic National do. Charlie explained his plan to them. And, as a result, he was able to employ unlimited credit to build his insurance business through the lead system.

You see, it was because of the American credit system that Charlie Samnions was able to build the Reserve Life Insurance Company. And under such a system he was able to develop a premium volume from four hundred thousand dollars to over forty million within the short space of ten years. Again because he used OPM in his investments, he is able to invest and own controlling interest in hotels, office buildings, manufacturing plants and other enterprises.

But you don't need to go to Texas to use OPM. W. Clement Stone bought an insurance company with one million six hundred thousand dollars in assets, using the seller's own money. He went to Baltimore.

How W. Clement Stone bought a $1,600,000 company with the seller's own money. This is how he describes the purchase:

It was the year-end, and I was engaging in study, thinking, and planning time. I determined that my major objective for the following year would be to own an insurance company that was licensed to operate in several states. I set a deadline as to when this was to be accomplished: December 31st of the next year.

Now I knew what I wanted and a date was set for its achievement. But I didn't know how I could get it. This wasn't really important, for I believed that I could find a way. Therefore

I must, I thought, look for a company that would fulfill my requirements: (1) that it have a charter to sell accident and health insurance, and (2) that it be licensed to operate in nearly all the states. I didn't need established business. Just a vehicle.

Of course, there was the problem of money. But I would face that problem when it arose. Even then it occurred to me that I was a salesman by vocation and therefore I could, if it should become necessary, work out a three-way deal: a contract to buy the company; reinsure the entire business with some large company; and thus own everything but the insurance in force. These other insurance companies were willing to pay a good price for established business. I didn't need established business. I had the experience and ability to build an accident and health business as long as I had the vehicle. I had already proved this by building a national insurance sales organization.

And then I made the next step: I asked for Divine guidance and help.

While analyzing the immediate problems with which I might be faced, it occurred to me that I should let the world know what I wanted, and the world would help me. (Now this conclusion was not in conflict with the principles laid down by Napoleon Hill in Think and Grow Rich wherein he states that you keep your definite objectives a secret except to members of your mastermind alliance. When I found the company that I wished to buy, I would, of course, follow his suggestion and keep the negotiations a secret from the world until I closed the deal.)

So I let the world know what I wanted. Every time I met a person in the industry who might give me information, I told him what I was looking for.

Joe Gibson of Excess Insurance was such a person. I had met him on just one occasion.

The new year was started with enthusiasm as I had a big objective and I set out to reach it. One month passed. Two. Six months passed. At last ten months had gone by. And although I had checked into many possibilities, none fulfilled my two basic requirements.

Then one Saturday in the month of October when I was seated at my desk with my papers pushed back, engaged in study, planning, thinking time, I checked off the list of my objectives for the year. All had been achieved but one ? the important one.

Just two months to go, I said to myself. There is a way. While I don't know what it is, I know I'll find it. For it never occurred to me that my aim could not be reached or that it wouldn't be reached within the time limit specified. There is always a way, I said to myself. Again, as on similar occasions, I asked for Divine guidance and help.

Now two days later something unexpected happened. I was again seated at my desk. This time I was busy dictating. The telephone rang a disturbing note at my elbow. I picked up the receiver and a voice said: "Hello, Clem. This is Joe Gibson." Our conversation was short, and I will never forget it. Joe talked rapidly: