GoE MindMillion Daily ExercisesThe Energy Of Wealth
154. Penny Flowing
Today's Money Energy Exercise is: Penny Flowing.
I guess you’ve heard of “penny pinching”?
That is held to be by common wisdom (which can be a right old turnip riding on a three legged pig, and that’s a fact!) to be a bad thing.
And that’s certainly true in certain situations, especially when ordering a romantic Valentine’s dinner for your date – penny pinching doesn’t look good there, does it.
Have you also heard that banks have these accounts where “left over pennies” accrue, and because they turn over so very much money, these accounts have hundreds of millions in them?
When you have just ten dollars, or ten pounds, penny pinching doesn’t really get you anywhere. But when you have hundreds of thousands, or millions, then we’re talking about a flow of pennies, and that many make a raging river!
So the principle, and our exercise, is as follows.
The more you spend, the more the pennies start to count, start to mount up.
If your business needs one ream of paper in a year, it is absolutely immaterial if you spend 1 dollar or 1 dollar and a penny.
If your business needs 1,000 reams of paper, you can start to see the difference; but it should use 1,000,000 reams of paper, even A QUARTER of a penny is going to make a BIG difference on your bottom line.
In a moment, have a think about the MAIN purchases across the year in your business or budget, and do a spot of penny pinching right there – where it matters, where it is WORTH DOING, and where you will earn more by spending some time re-locating your orders, finding a new supplier or re-negotiating any deal down just by a fraction than if you didn’t.
And that’s what produces the penny flow.
Alright, your 60 seconds start – right now!