Tuesday, July 22, 2008

Pennies Really Do Add Up In Your Small Business

I remember a story told to me as a young boy. It goes like this: In a far off land, many years ago, there was a very poor man that went in front of a king of a very rich land and offered to work for the king for that day for just one penny, and if the king liked his work, the poor man would continue to work for the king every day after that first day for a total of thirty consecutive days.

The only contingency to this payment plan for the king was that for every day that went by that the poor man worked, the king would have to double the poor man’s previous days wage from the first day’s wage of one cent for thirty consecutive days. After those thirty days, the king would then pay the poor man in full for his thirty days of labor (example, day 1=.01, day 2=.02, day 3=.04, day 4=.08 and so on). Well, the king just knew that he had a sucker in front of him. He thought that he could get the poor man to do a lot of work for him without paying him very much money.

Do you know what happened next? At the end of those thirty days, the poor man made $5,368,709.12 a day and the king owed him $10,737,418.23, due in full at the end of the thirtieth day! The king forgot the exponential factor of the money doubling and never asked about what the poor man was earning daily throughout the month, because to the king, a penny meant very little and could never add up to any real amount of money.

The story ends like this: the king was broke, the poor man rich, and the moral of the story is that a penny really does add up. So focus your attention on each penny within your business unit.

If you save just two widgets a day by training the staff not to waste those widgets, and those widgets cost fifteen cents each, you would save $109.50 a year. This would be just the tip of the iceberg for savings within your business. There is a penny to save here and a penny to save there. Just look around, and when you are done, over time, that penny will multiply to thousands of dollars a year that your business unit can bring down to the bottom line, by simply remembering that “A penny really does add up!”


1 comment:

Anonymous said...


Listen I've been passing through your blog for quite a while now, and since your are interested in getting sales or increasing your website revenue, I just wanted to let you know that I have a company that specializes in finding leads - customers for different types of companies and activities.

Don't like to brag much but we really are good at delivering tons of leads/customers for any professional area, including yours, and our service is guaranteed to work.

We really can help you because our services include free search engine optimization, free web analytics, free pay per click management , and other important web marketing tools, and we only charge $10 per customer we deliver, not for the leads, only for the real solid results, so might be worth just to check it out.

So if you're interested please check my website, HotHelpsYouSell.com .

Anyway, thanks for your time, and really nice blog