The lesson we need to draw from this is that having the capability to enhance the process of getting the task quicker and cheaper, without compromising the quality of the task being done, will help catapult the individual who simplified the procedure to the top of his/her field.
Cents saved in your house service can develop into dollars at the end of the day, and dollars can rapidly multiply into hundreds or countless dollars with time.
Doubt me if you will, but let me ask you a concern. Do you believe a saving of 2 fifths of a penny could make any real distinction in the revenue margin of a home based business? Naturally the best answer is “it depends upon how lots of transactions are carried out in a year, making use of the savings of the two fifths of one cent.”
You know the one who was a billionaire, and was so concerned about germs that he passed away 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 cent. He did nevertheless make a lot of money from his two fifths of one cent. It appears Howard owned a can manufacturing company. And one day, Howards group found out how they could make one small modification in the design of their food can to lower the amount of tin required to make a single can.
As the story goes — — if my memory serves me properly — — the reduction in tin usage equated to a saving of 2 fifths of one penny per can. Howard — — being the really clever businessman that he was — — chose that he would not be so greedy as to keep all of the cost savings for himself. What Mr. Hughes did was to keep half of the cost savings for himself, and provide the other half to his customers. The unbelievable feature of Mr. Hughes decision is that by conserving his customers an extra one fifths of one cent per can, he handled to take more market share away from his competitors — — netting his company a additional and significant part of the total market share in the canning market.
Let us return our thoughts to your house business. Have you ever gotten the sensation of enjoyment — — when you checked out something or thought of something — — that you could not wait to execute this originality? This might be one of those minutes……. In every home based business, there are certain processes that we do over and again. Sometimes it might be possible to trim the time or cost of a procedure which in turn will include dollars or cents to your bottom line. Your cost savings will multiply into hundreds or thousands of dollars in regular monthly savings if it is a procedure that you do hundreds or thousands of times per month.
Picture what running a house business resembled BEFORE the computer…….
Before the individual computer, we needed to hand type all letters and invoices. Now, we can set up a letter or invoice that we send out frequently, and we can wait in our word processor so that when we need to utilize it again, we can print it quickly and efficiently. There is no longer a requirement to type the document once again from scratch.
The computer system has simplified our business communications and has provided us the opportunity to lower our costs of doing organization.
Think about all of the other procedures that the computer has allowed us to do for far less expenditure than what we could in the past.
In this case, the computer is a tool that permits us to save time and cash.
My challenge to you is to start examining the procedures in your own house service and look for methods in which you can save yourself time and cash. Simply put, you understand your business much better than anybody on the planet does.
The extra pennies and dollars you could extract from your business could spell the distinction between success and failure for your house company enterprise.
Of course the best answer is “it depends on how numerous deals are done in a year, utilizing the savings of the two fifths of one penny.”
You understand the one who was a billionaire, and was so worried about bacteria that he passed away of starvation? Now Howard did not make all of his cash on his 2 fifths of one cent. He did however make a lot of money from his 2 fifths of one penny. And one day, Howards team figured out how they could make one small change in the design of their food can to minimize the quantity of tin needed to make a single can.
Henry Ford taught us that to simplify the manufacture of vehicles, that the very best method to do so was to set up the assembly line. That a person modification transformed the car manufacturing market permitting the industry to build automobiles at a cost that would allow the average person to manage one.