Ask The Entrepreneurs: 8 Money-Saving Tips for Business Travel
Business travel can be an exciting and rewarding experience, but it can also be costly. Fortunately, there are ways to save money without sacrificing the quality of your trip. In this edition of Ask The Entrepreneurs, we asked members of the Young Entrepreneur Council to share their best money-saving tips for business travel. From booking smarter to leveraging rewards, here are eight tips to help you level up your travel game.
1. Use Startup Stay
If you’re looking to connect with the local startup ecosystem and save money on accommodations, consider using a platform like Startup Stay. This platform is like couchsurfing for entrepreneurs and can help you make connections that might result in unexpected opportunities.
Christopher Pruijsen, FounderBus
2. Stay an Extra Day
Instead of rushing in and out of an event, consider staying for an extra night or two. This allows you to take advantage of peak flight rates and better hotel rates for longer stays. It also gives you time to catch up with new contacts, local leads or colleagues.
Kelly Azevedo, She’s Got Systems
3. Don’t Do It
While face-to-face meetings and events can be productive, they can also be expensive and tiring. Consider using video conferencing platforms like Skype and Google+ Hangouts to connect with people instead of traveling.
Jim Belosic, ShortStack/Pancake Labs
4. Decide Early
If you’re unsure whether you’ll need to be onsite for a meeting or event, you might be tempted to wait until the last possible minute to book a trip. However, this can be expensive. Plan your trips for the year and decide early on which events will provide the most value. Then, commit by booking your airfare and hotel at lower rates.
Aaron Schwartz, Modify Watches
5. Stack Trips Together
If you know you’ll need to travel multiple times in the next few months, see if you can block them together. While this can be tiring, it can ultimately save you money on flights and accommodations in the long run.
Thursday Bram, Hyper Modern Consulting
6. Don’t Pay Cash to Travel
Leverage the purchasing power of your business by charging all your company’s expenses on credit cards with aggressive reward points programs. Purchase everything from materials to office supplies to vendor payments and marketing services on your credit card to rack up points. When it’s time to travel, simply trade points for airfare and hotel rooms.
Anthony Saladino, Kitchen Cabinet Kings
7. Find a Flat-Rate Airport Car Service
If you need transportation to and from the airport, consider using a flat-rate car service. These services are available in many cities and can provide a more luxurious and professional experience than a taxi or rideshare.
Benji Rabhan, MorrisCore
8. Find a Credit Card Without Foreign Transaction Fees
Travel can be expensive, especially when it comes to foreign transaction fees. If you travel frequently, consider using a credit card without these fees, like the American Express Platinum card. While the annual fee may seem high, the rewards, bonuses and travel benefits can ultimately save you money in the long run.
Matt Wilson, Under30Media
Business travel doesn’t have to break the bank. By using these tips, you can save money on accommodations, flights, transportation and more. Remember to plan ahead, leverage rewards and be open to new ways of connecting with people. Happy travels!