Your Home Business:
Turning Pennies into Dollars
Copyright © Stone Evans, The Home Biz Guy
http://www.pluginprofitsite.com/main-5814
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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Reprinted with permission from the Plug-In Profit Site Free Website Builder.