Here's how you can save money in your organization by using problem solving skills.

“People waste” is among the most expensive forms of inefficiency. Do you have the right person doing the right activity? Baseball managers may shift a player from one field position to another, because it makes the team better. Do you have employees doing low-level tasks that would be better done by a machine or outsourced? Free people to do more productive and revenue generating activities.

Time is the most valuable commodity. Keeping people productively engaged not just busy or worse yet idle is important. Work is for working. Be productive.

The people who perform procedures and processes are often the most knowledgeable about what needs to be changed, and the least consulted! Top- down management is inefficient, and leads to employee disengagement.

Find ways to know what drives people and what drains people. People can be good or even great around a certain skill sets. However, just because someone is good at something, if they are not motivated to do can cause business efficiency drainage. Simple example, I am proficient in reading numbers and in cost analysis. If I were to have to look at accounting statements all day, I would not be driven any more in my position. My passion is to talk to people and problem solve. So, I would probably need to be in front of people talking and serving. Not spreadsheets all day looking at numbers. Put people where their strengths are identified and your business will be a well oiled machine.

Negotiate with everyone: suppliers, customers, employees and contractors. There are always trade offs between price, quality and time. Employees may be willing to work for less, if remote work or a more flexible schedule is offered. Recognizing the best is often more important than a small raise of salary.

Beware of the “shiny object” syndrome. Chasing the “new” can result in your organization Beta testing some unproven idea. Make sure that the result will fit your long-term goals. Begin with the end in mind.

It's important to remember that even "smart" and seemingly good spending can eventually become wasteful. That’s why it’s crucial to keep your financial projections and data clean and measurable. Doing so will not only help you move forward in the most effective way, but it will also enable you to cut waste along the way, rather than waiting until you’re forced to make tough decisions at the last minute.

Stagnant ponds collect parasites. Innovation is key to staying alive. What is that saying that is detrimental to a business, “this is how we have always done it.” Create new ways to be efficient and get ahead of the competition.

One simple yet effective way to save money in your organisation is to talk to others. Connect with people within your organisation, fellow business leaders, and those in mentoring groups or masterminds. These conversations can offer valuable insights into cost-saving strategies. Start by sharing details about a specific area in your business and ask how they handle similar challenges. They may share tools, systems, or alternative methods that achieve the same results more efficiently.

The worst thing you can do when business is off is to stop advertising and lay off your sales force. Without sales, there is no revenue coming in, no reason to produce, and inventory builds. If a product or service is no longer needed or wanted by the marketplace, get rid of it, and find something that is in demand. Businesses who succeed are constantly reinventing themselves.