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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.
Resource Box:
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