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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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