Three Costs of Waste

Experience a loss…and it will cost you three times. It’s a clear fact drawn from the science of economics. And, when you, or your team members, become aware of this fact, it changes how they work. They safeguard resources such as time, money and materials.

This tutorial will show you clearly how a loss of $1,000.00 literally costs you $3,000.00. How a loss of 20 minutes, costs you 60 minutes. That’s right. When you lose or waste (or allow someone to waste) 20 minutes of your time, the laws of economics reveal that you really lost a full hour – at least.

The tutorial entitled, “The Enormous Cost of Waste,” intended for senior leaders and business owners, amplifies this concept to include the enormous loss of income associated with waste. It also gives you more instruction on how to address this issue.

This tutorial, however, is designed for everyone and is intended to raise awareness of the issue. The good news is this: we’ve found that awareness is often half the battle. Just understanding the three costs of waste helps reduce the act of wasting.

Duration – 3:46