Coins and experience points
The best to acquire experience points and coins is to complete quests. If a required item is on cooldown, spend the time earning coins and experience. If all your items are on cooldown, put your dragon to sleep, then poke it and walk around with it to earn experience points. You can also do other things to earn resources while waiting, including watching the advertisement videos to earn coins.
Need bars
When one of the Food, Fun, and Sleep bars at the top left corner of the screen reaches the red level, stop what you are currently doing. Feed, play, or put your dragon to sleep to restore that bar.
Recover from item cooldown
Instead of waiting for the indicated amount of time for an item to complete its cooldown, advance the time on your device by that amount. Then, set the time back to its correct value.