Join Hector Alvarado as he welcomes you to the Inner Circle and dives deep into the essential topic of cost visibility and control for business success. Hector explains how many businesses fail to address hidden costs, which lead to a slow financial bleed rather than a single catastrophic event.
From unplanned overtime to unused software subscriptions, these small but frequent expenses can add up and erode profits. Learn from major organizations like Tesla, Amazon, Toyota, and Walmart on how they manage to keep costs in check through rigorous processes and cultural frameworks. Get actionable steps and insights to identify and eliminate 'profit killers' in your business, implement lean cost mapping, and develop a mindset shift that prioritizes efficiency and waste reduction.
End the session with a practical challenge to identify and assign top cost areas in your business to ensure they are managed effectively. Perfect for business owners and leaders looking to optimize their operations and achieve sustainable growth.
00:00 Introduction to Cost Visibility and Control
01:26 Identifying Hidden Costs and Leaks
03:10 Real-World Examples of Cost Inefficiencies
06:27 Principles of Lean Cost Mapping
07:38 Implementing Cost Review Practices
09:50 The Seven Steps to Muda
18:00 Mindset Shift for Cost Management
20:43 Open Discussion and Q&A
32:17 The Tech Stack Dilemma
33:34 Trendy Spending in Business
34:43 Real-World Examples of Cost Efficiency
37:16 Daily Performance Huddles
39:51 Subscription Management and Cost Control
43:32 Streamlining Processes in Trucking
49:23 Supplier Issues and Cost Implications
55:11 Final Thoughts and Weekly Challenge
The Inner Circle Podcast
Welcome to The Inner Circle, the podcast powered by Optimize Business Systems (OBS). This is where business owners, leaders, and doers come together to gain clarity, sharpen their vision, and unlock growth through proven systems and real-world leadership insights.
Each episode dives deep into the strategies, frameworks, and mindset shifts that turn chaos into clarity and leaders into legacy builders. From practical tools that streamline operations to conversations that challenge how you think about leadership, The Inner Circle is your weekly seat at the table with a community that’s scaling smarter, not harder.
https://optimizebusinesssystems.com/obs-program/
If you’re ready to lead with purpose, align your team, and build a business that works for you not the other way around pull up a chair. You’re in The Inner Circle.