Owning a business that operates internationally provides multiple opportunities that a local business may not. On the other hand, all the meetings, trade shows, and other important events you have may not take place near your office. This is where traveling by plane, train or automobile come in. If you manage these expenses properly, you can reduce your company’s costs. Fasten your seatbelts; this could be a bumpy ride.
If you don’t want to pack up a suitcase, leave home, and spend the rest of the day traveling, video conferencing or online meetings may be your solution! There are services available that range in cost and the amount of people able to participate in each meeting. Video conferencing is cheaper, more convenient, and it can get the job done in more than half the time.
However, there are times when you do have to pack up your suitcase and jump on the next flight to who knows where. In that case, make sure you know your travel budget. Then you can research the cheapest flight through search engines like Expedia, Orbitz, and Travelocity. By picking the less popular airport, you can save money because flights tend to be cheaper. It’s also important that you book in advance. As you get closer to your date of departure, prices could go up, or tickets could be sold out. It is better to be cautious then to lose business because of faulty planning.
Don’t forget that you have to budget money for a taxi, shuttle, bus, or subway both to the airport and once you reach your destination. Once you are there, it is smarter to stay away from pricy mini-bars, room service, and hotel restaurants. It may be cheaper to walk to a local restaurant.
Lastly, keep your receipts. You can plan and budget all you want, but if you don’t keep track of what you are spending, it all goes to waste. By evaluating how and where you are spending your money, traveling can be a lot less expensive for your company.