4: Achieving lowest expenses

• Wealth accumulation is a matter of frugality
• The man next door
• The power of compounding
• The value of the money you save
• The Wal-Mart Model
• Keeping costs low and discounting heavily
• Ranked number one for lowest ratio expenses to sales
• Share profits with your managers
• Operating principles
• Frugality does not mean compromising quality
• Toyota
• See's Candy
• Other Risks in cost-control plans
• Deferred repairs and maintenance
• Inadequate product development and research
• Ways to accomplish ongoing corporate frugality
• Create profit sharing incentives
• Practical cost saving ideas
• Build an image of austerity
• Top Ten Do's and Don'ts
• Further Learning
• Session Quiz