Your Home
Business: Turning Pennies into Dollars
Copyright ©
Stone Evans, The Home Biz Guy
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.
About the
Author:
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Stone Evans
helps ordinary people all over the world make money online with affiliate
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Quote of the
Day:
"We are
what we repeatedly do. Excellence, therefore, is not an act but a habit."
-- Aristotle
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