Is it too late to save?

More and more I hear about business owners and managers discussing the utilisation of cost cutting measures to compensate for lack of sales in hopes of maintaining margins.   

Not to say that cost cutting is not a valid undertaking, optimization is key in manufacturing / operations but it really isn't an overnight exercise.  No doubt savings will be found however, if you are seeking a sustainable process (sustainability - the key in any business initiative) you need to address the cultural side of costs; how does your staff feel about and treat (your) money. 

Building a sustainable cost conscious culture means you'll have to deal with 'change' - it becomes a bigger undertaking.

If you are hiring a firm to find cost savings - ask what they will do with respect to developing the proper culture - if that isn't addressed the initiative will end with the end of the consultant's contract.