Are You Over-Spending When You Travel For Work? Here are 3 Ways Smart Entrepreneurs Save Instead
To be an entrepreneur anywhere in the world is no easy task today. Even the savviest of business people still have to deal with the ever-rising taxes, high utility bills, and hesitant clients. Take Ikea’s founder Ingvar Kamprad, who was notorious for flying economy and staying at budget hotels. The furniture store executives follow his example to this day despite their global success.
If it’s important to you to save money during business trips, start with your choice of hotel.
“Wasting resources is a mortal sin” -Kamprad
Sometimes, you have to go above and beyond in your efforts. You have to be smarter, faster, and more efficient than the competition. You may have to go where the customers are, even if that incurs additional travel expenses. And, let’s say you may charge the client a little extra for these expenses, but you know that every coin you don’t spend during the trip is yours to keep.
So, whether you’re making the trip yourself or sending one of your colleagues to fulfill the task, avoiding unnecessary expenses is essential. A place to stay and food to eat are necessary expenses, but even so, you can still make smart decisions.
If You’re Not Planning On Spending Most Of The Time In Your Room, Stay Somewhere Simple
You’ll find that hotels with pools, saunas, gyms, or game rooms will have a higher cost per room than hotels without these amenities. Do you plan on staying a few days and having enough time to enjoy them? Then, by all means, be my guest (or rather, be their guest). But if you’re in town just for business, you can find more affordable accommodations by choosing the simpler options.
If what you truly need is just a clean, comfortable room to sleep in for a night or two, then don’t be afraid to sort by lower price, look at the reviews, and chances are you’ll save money during your business trip by booking with a smaller hotel.
Don’t Bother With Room Service
Room service can be extremely convenient for a tired traveler. But it’s also expensive. The expenses that hotels have to pay just to keep the staff and the kitchen active are not cost-effective. In fact, it’s not unusual for hotels to add a 15% service fee to cover them, which you may only realize has been added to your bill once you stand in front of the reception at the end of your stay.
Instead, you’ll find that centrally-located hotels are surrounded by dozens of restaurants, delis, and markets, where you can get a bite to eat for a much more reasonable price. If you feel a little anxious about wandering out in an unknown city, remember that the person at the front desk is literally getting paid to be of service to you. Ask them.
Book Directly With Your Hotel Of Choice
Booking platforms are an excellent place to start looking for a hotel because they offer you the chance to compare different options in your area. What you may or may not realize is that each hotel must kick back a percentage to the booking platform per room booked. This prompts some hotels to raise their prices to make up for the lost income.
Another way to save money during your trip and get a discount on your room might be to find the hotel’s website or phone number and book directly with them. There’s a very good chance they’ll give you a better price than the one you saw on an online travel agency’s website.
The Bottom Line
Making smart decisions is the only way to ensure your business thrives in any economy. Trimming travel expenses is an easy way to save–and booking with a low-cost hotel is a sure way to save money on those business trips that won’t affect the quality of your work or product in the slightest. Go ahead, put it to the test and let us know how much you saved by commenting below.