Sometimes thinking small is the best way to achieve big results. Such is the case for closely-held businesses looking for unique ways to save in a tough financial landscape. And while executives are trimming from the top, every employee can help play a role in reducing excess waste.

One thing a tough financial market can do for the better is force you to take stock of your business and to be creative with new business strategies. And while it's critical to examine the bottom line and cut costs, it's just as important to focus on new growth, evaluate your company's services and products and pay attention to your customers' needs in ways that you may have overlooked in stronger times.