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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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