Your
Home Business: Turning Pennies into Dollars
Copyright © Stone
Evans, The Home Biz Guy
http://www.pluginprofitsite.com/main-2508
Henry Ford taught us
that to simplify the manufacture of automobiles, that the best way to
do so was to install the assembly line. That one change revolutionized
the auto manufacturing industry permitting the industry to build cars
at a cost whereas the average person could afford to buy one.
The lesson we should
take from this is that having the ability to improve the process of
getting the job quicker and cheaper, without compromising the quality
of the job being done, will help catapult the person who simplified the
process to the top of his/her field.
Pennies saved in
your home business can turn into dollars at the end of the day, and
dollars can quickly multiply into hundreds or thousands of dollars over
time.
Doubt me if you
will, but let me ask you a question. Do you think a saving of two
fifths of a penny could make any real difference in the profit margin
of a home business? Of course the right answer is "it depends on how
many transactions are done in a year, utilizing the savings of the two
fifths of one penny."
You only have to
think back a couple of decades to really appreciate this question. Do
you remember the nut that lived and died in a Las Vegas hotel room? You
know the one who was a billionaire, and was so worried about germs that
he died of starvation? If you guessed Howard Hughes (1905-76), pat
yourself on the back.
Now Howard did not
make all of his money on his two fifths of one penny. He did however
make a ton of money from his two fifths of one penny. It seems Howard
owned a can manufacturing company. And one day, Howard's team figured
out how they could make one minor change in the design of their food
can to reduce the amount of tin necessary to make a single can.
As the story goes
--- if my memory serves me correctly --- the reduction in tin usage
equaled a saving of two fifths of one penny per can. Howard --- being
the really smart businessman that he was --- decided that he would not
be so greedy as to keep all of the savings for himself. What Mr. Hughes
did do was to keep half of the savings for himself, and give the other
half to his customers. The incredible thing about Mr. Hughes decision
is that by saving his customers an extra one fifths of one cent per
can, he managed to take more market share away from his competition ---
netting his company an additional and substantial portion of the total
market share in the canning industry.
Let us return our
thoughts to your home business. Have you ever gotten the feeling of
excitement --- when you read something or thought of something --- that
you could not wait to implement this new idea? This could be one of
those moments...
In every home
business, there are certain processes that we do over and again.
Sometimes it may be possible to trim the time or expense of a process
which in turn will add pennies or dollars to your bottom line. If it is
a process that you do hundreds or thousands of times per month, then
your savings will multiply into hundreds or thousands of dollars in
monthly savings.
Imagine what running
a home business was like BEFORE the computer...
Before the personal
computer, we had to hand type all letters and invoices. Now, we can
setup a letter or invoice that we send out quite often, and we can save
it in our word processor so that when we need to use it again, we can
print it quickly and efficiently. There is no longer a need to type the
document again from scratch.
The computer has
simplified our business communications and has provided us the
opportunity to reduce our costs of doing business.
Think about all of
the other processes that the computer has enabled us to do for far less
expense than what we could in the past.
In this case, the
computer is a tool that permits us to save time and money.
So, my challenge to
you is to begin examining the processes in your own home business and
look for ways in which you can save yourself time and money. It is far
better for you to contemplate on this matter than it is for me to do so
for you. Simply put, you know your business better than anyone on the
planet does. Therefore, you are in a better position than anyone to
find those extra dollars that will decrease your costs and increase
your profits.
The extra pennies
and dollars you could extract from your business could spell the
difference between success and failure for your home business
enterprise.
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