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Recipe for success!
Page 69
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There was an object lesson in how to stay in business and be happy, handed out in Aberdeen last Saturday when G. T. Fraser Ltd celebrated its Golden Jubilee. When the present md, George, left the Royal Engineers in 1946 to join the family business he found that the fleet of seven horse drawn vehicles was working for one customer at a gross profit of £7.50 a week. G. T. told the customer "Up the rates or we stop working for you." They lost that contract but are still in business with 60 vehicles and a band of very loyal employees. "We believe in discipline and the men accept it," G. T. told us. As proof of that Mr E. Fraser, a founder partner in the business, presented watches to seven employees with an aggregate of 183 years service.
Last Saturday was looking back day. This week G. T. Fraser was planning diversification into vehicle distribution but whatever happens they will remain independent. All take-over bids have been gently but firmly turned aside. "Some were serious, some less so," said G. T. "but retaining the family's independence is important to us."
His recipe for success he says, is "Get paid for the job, exercise discipline from top to bottom and retain your independence." After fifty years of practising this philosophy, G. T. Fraser should know.