They say it takes money to make money in business, and that it is certainly true when it comes to business conferences. At the same time you’re trying to score big deals with new clients, you are spending money on everything from a hotel room to eating out for each meal. To make sure you’re not spending more money than you’re making at your next business conference, follow these tips to keep your expenses under control.

Use Prepaid Credit Cards

Traditionally when you go on a business trip you save your receipts and then settle up upon your return. This can lead employees to spend money wildly on everything from drinks to lavish meals because they are confident that they will be reimbursed. By issuing a prepaid credit card, like the REACH card, to each employee attending the conference, a spending limit can be set. Since only the money put on the card can be used, there is no chance for you to take the whole town out for a business dinner.

Look for Group Dining Discounts or Buffets

Business conferences are all about learning what’s new in the industry and making deals. However, many of those deals are made outside of the conference halls, usually over a plate of food. Reeling in new business over dinner doesn’t mean spending a ton when you can get a discount. Try finding restaurants that will offer discounts for large groups, and then, take multiple clients out at once. If group rates are unavailable, consider a fine buffet in the area instead of spending a la carte.

You can also use services like Yelp! to see what’s nearby and rated well- so you won’t waste money at some place you end up hating.

Research the Cost of Hotel Amenities before making Reservations

When the business conference ends for the day, it’s high likely you’ll still be working – sales made will have to be processed, more supplies may have to be ordered, and so on. Thats the beauty of businesses having project management systems and internal cloud computing services. You can “ABC” … that is, always be closing.

That’s why it’s important for your hotel to have a wide variety of business tools at its disposal, such as the Internet, shipping services and fax machines. At some hotels, however, those options come at a cost.

Before booking a hotel, research hotels in the area that provide amenities for free to help you save while you work.

Stay at the Conference Hotel

Many business conferences are held right at a hotel and, in the hopes of drawing the most attendees, that hotel will offer room discounts. If the conference isn’t at a hotel, there surely is one in the area that has made an agreement with the organizers.

You will be hard pressed to find cheaper rates than the hotel that hosted or sponsored the conference. Always find out which hotel that is and book as early as possible, since the rooms are sure to go quickly.

Conclusion

There are just some costs of attending a business conference that are unavoidable such as airfare. During the conference, however, there are plenty of ways to keep spending under control through the tips provided above. How do you keep your and your employee’s spending in line during business conferences?

Share

Like this post? Subscribe to my RSS feed and get loads more!