Anyone who travels often for work can tell you it can be extremely expensive. For those who work for companies where all the costs are reimbursed, those costs may not mean much; but for those who are required to pay it, whether because they own the business or it is simply a part of their job, those costs can dramatically impact the bottom line. So if you are in a situation where those costs really impact you, here are 4 tips to reduce your costs and save some money while travelling.
1. Rewards – The benefits of rewards programs cannot be overstated. At minimum, you get back at least 1% on all of your costs. But for many loyalty programs, that benefit can be as much as 3%. In addition, loyalty reward programs with airlines and hotel companies can include free upgrades, free flights or nights, and other perks which cut costs and make the travel experience more tolerable.
2. Meet at the Office – When travelling to meet clients, it is common to meet at dinner at an expensive restaurant. And while this might help to get a meeting with a prospect, a good client is not going to need this enticement every time to meet with you. These bills can often be into the thousands of dollars, and have limited impact upon a sale. Instead, try to schedule the meetings during business hours at the client’s office and cut out those exorbitant costs. You’ll also be surprised how many clients will appreciate not having to go to something after working hours, when they would rather get home.
3. Plan Early – The earlier you book, usually, the cheaper the flight and hotel will be. In addition, by planning early, you can often fit more into a trip. If you are based out of New York and have clients in San Francisco, you want to get as much accomplished on that trip as possible. If you book last minute, clients may be unavailable, however if you book months in advance, you will have less trouble getting on their calendars. This, in turn, will lead to less frequent trips.
4. Consider Uber or Lyft – It is, at times, more convenient to have a rental car, however in many major cities, public transportation and Uber or Lyft will be much cheaper than the cost of a rental car. Do your research on the cost of a ride from your hotel to your destinations, and factor that against the cost of a rental car. On a weeklong trip, this can mean hundreds of dollars in savings.
Business travel is often an unavoidable expense, but by thinking about how you spend money on business travel, you can often cut those costs. Following these tips can save you tens of thousands of dollars a year on travel, which anybody can use.
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