Your
Home Business: Turning
Pennies into Dollars
Copyright © Stone Evans, The Home Biz Guy
http://www.pluginprofitsite.com/main-9334
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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