Cutting Costs: Maximizing ResultsNov 02, 2020
Even as a small child, I have always been a problem solver. I love taking complex things and making them simple. I say "I" but it is always a "we" approach to it all. In my work, I have blessed to find ways to cut costs, improve the human relationship, and maximize results. Here are some tips about what I have learned:
People First, Profits Later.
Now please don't stop reading after I say this, but I believe by focusing on the people aspect of the business you can exponentially grow your business to greater success. Bob Chapman built his entire business around this thought and I highly recommend everyone to read his book Everybody Matters. But as a child, I was blessed to get to watch this perspective be lived out first hand with my father's company.
My father invented a lot of the splicing machinery in the carpet industry. He has run a successful company for years with little turnover, lean staffing, and engaged personnel for almost 25 years. I believe an example of my father's style of leadership was displayed recently when one of his staff's spouses tragically was killed by lightning. (I say staff because the company really doesn't have titles) Needless to say, my father treats his people as family and went out of his way to make sure this new widow was accommodated. She knew that she would be taken care of and that sense of security made all the difference in these uncertain times. She is open about how good my father is to his employees and he truly cares. She didn't have to have this situation to know this as he daily puts his people first because he believes it is the right thing to do. As a result, he runs a profitable business by focusing on his people first. One of my favorite things he has taught me is to treat your people right and your bank account will show you how well you are doing. The people approach should be your business approach.
Find your Geniuses.
In today's world, we need to rely on each other more than ever. Having my geniuses has been instrumental in my success. I have saved companies millions with this simple idea. At one company, we were faced with this issue of a program running poorly by a third party vendor. Ineffective and money-wasting strategies drive me crazy as I could be one of the most frugal people you will meet. So how did I combat this issue, I talked to the geniuses that dealt with the program daily. We brainstormed, got all the right people to the table, and came up with solutions that were a win-win for the people. As a result, we saved over a million dollars annually and allowed the program to give more comprehensive care to the people it was intended for. The results have come from additional referrals back into the system, better health outcomes, and less perceived boundaries to care.
Make it simple.
I believe we sometimes make problems harder than they truly are. For me, I sometimes overthink the problem so I have found ways to break it down to be easily understood. I want to make the problem so I can clearly explain it to my children. One of my professors always said if your professor is using a PowerPoint with a lot of words and reading it, they don't know the material. I take this philosophy to the business world. If I have to teach something and am reading verbatim off a slide deck, I won't be able to answer the intricate questions that could be thrown my way. That doesn't mean I believe I know it all but my evolving style has two consistent things: Talk with my geniuses and make it simple. If they can not understand what I am trying to relay, then I am not communicating it well. I ask how they would explain it, ask questions to seek understandings, then reevaluate my approach. I think the more simple you can break down the parts of the puzzle without taking away from the bigger picture, the more successful you can be. This simple approach has to lead me to discover other issues that wouldn't have been addressed if I had gone another route.
So get out there, focus on your people, find your geniuses, and make it simple so you can cut costs by maximizing results. If you ever need help, Workzbe is here to facilitate conversation and make an impact for your people and on your results.