Fundamentally everyone’s life is not much different than a business. You generate revenue, have expenses and if you spend less than you make you retain profits (savings).

More time, effort, energy and thought go into figuring out how to make businesses healthier and more profitable than everyone combined spends on their personal finance.

Don’t you think businesses have figured out some methods and techniques to improve their bottom line that could be used to your benefit as well? Of course, and one of the more successful management approaches over the ages is a concept called Lean Management.

A core concept to managing a business in a lean manner is elimination of wastes. Take a look here to see the exploration of the waste of money.