In the United States, 100 cents make up the value of a dollar. One hundred cents equals one dollar. One dollar is made up of 100 pennies. Pennies are worth one-hundredth of a dollar. If you were to get all the pennies together, you would be left with one dollar. You would need about 250,000,000 pennies to make up a dollar. If you had enough money, you could go around and collect the pennies and give each one a dollar. That would give you a total of one million dollars.
1. Break down $100 into its parts
How much does $100 cost? You probably think it costs a lot more than it really does. But have you ever tried to figure out how much a dollar bill costs? When I first started out, I had no idea how much money a dollar bill actually cost.
I would look at one and think, “Oh, that must cost about a dollar.” But then I’d start thinking about all the other things that are usually included in that dollar and realize that a dollar bill is actually really expensive. So if you want to save money, don’t think about the price of a dollar bill.
Think about how much you spend on the other stuff that usually goes into a dollar bill. Or, if you want to break down a dollar bill into its parts, just go ahead and do that yourself.
2. Multiply each part by its relative value
Headlines are one of the hardest things to get right in any marketing effort. They’re incredibly important for building trust, convincing prospects that your message is worth listening to, and inspiring action. Yet they can also be the biggest time suck. So why bother at all? Because headlines are one of the most critical elements for getting traffic, leads, and sales, which in turn are responsible for generating more traffic, leads, and sales. This is one of the most important and powerful ways to multiply each part of your marketing campaign by its relative value.
3. Calculate the total
I believe that everything happens for a reason. And in order for you to succeed, you must first decide to succeed. What do I mean by that? It’s simple: if you don’t think you can achieve a goal, then you can’t do it. That being said, I think one of the best ways to know for sure if you can or can’t achieve a goal is to calculate the total cost of getting there. By calculating the total cost, you’ll know whether or not achieving your goal is realistic.
4. Calculate the pennies
There are a number of ways to calculate the total cost of your business. The best way to calculate the pennies (and cents) is to look at your profit margin. You can do this by subtracting the cost of goods sold from your total revenues. So, if you make $10,000 in sales, but spent $6,000 on inventory, your cost of goods sold is $4,000. Subtract the cost of goods sold from your revenue and you get the amount of money you actually made. The difference between the cost of goods sold and your revenue is your profit margin. If your profit margin is 20 percent, then your profit would be $400. Your profit margin will vary depending on your product line, your size, and other factors.