- An absence of fear of the future and of veneration of the past. One who fears the future, who fears failure, limits his activity. Failure is only the opportunity more intelligently to begin again.
- A disregard of competition.
- The putting of service before profit. Without profit, business cannot extend. There is nothing inherently wrong about making a profit. Well-conducted business enterprise cannot fail to return a profit, but profit must and inevitably will come as a reward for good service.
- Manufacturing is not buying low and selling high. It is the process of buying materials fairly and, with the smallest possible addiction of cost, transforming those materials into a consumable product and giving it to the consumer. Gambling, speculating, and sharp dealing, tend only to clog this progression