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