In our personal lives, most of us know that the holidays really bring about a season of great deals. But did you know that there are lots of ways to prioritize holiday savings for your business, too?
When it comes to your small business, the more deals you can find, the better! Every single spot where you can save money is going to make a difference in helping you grow.
Finding the right deals starts with knowing how to efficiently navigate all of the holiday savings that are out there. With deals happening on multiple days—Black Friday, Small Business Saturday, Cyber Monday, and after Christmas and New Years’—there’s a lot to keep tabs on.
Luckily, you don’t have to handle this all on your own! I’ve picked up lots of tips and tricks to help small business owners take advantage of this amazing season.
How To Identify The Best Holiday Savings Opportunities For You
Before we dive into some specific deals you can take advantage of this holiday season, let’s talk about some tips and tricks for identifying and finding holiday savings opportunities.
Think About What Your Business Really Needs
Before you spend any money, you need to think about what your business really needs. What would improve your current business processes and make you more efficient and profitable? What’s working really well in your business, and what’s slowing you down?
Think about what programs, tools, and services you’re currently using and whether or not they’re helpful. As a quick reminder, if you’re currently paying for anything that isn’t helping you grow, now’s a good time to eliminate that expense. That way, you have more money to spend on the holiday savings you find!
Identifying what you actually need will help you sift through numerous holiday savings opportunities more easily.
Use A Business Card That Offers Cashback When Shopping
If you don’t already have a business card that offers rewards and cash back, you’re missing out! It’s time to maximize your money. If you’re making a purchase, why wouldn’t you want to get cash back or rewards?
As you start thinking about holiday savings, make sure you’re prepared to get the most “bang” for your “buck.”
Do Thorough Research
Remember: just because certain holiday savings exist doesn’t mean they’re right for your business (or right for your business right now). You’ll want to do thorough research on companies, products, programs, and services prior to the holidays.
After all, the holidays are busy, and you want to be prepared! Start early and set yourself up for success when it comes to holiday savings in your business.
When Handling Your Taxes, Don’t Forget To Deduct Your Expenses
Surprise: business software can be a tax write-off! In fact, lots of business expenses can be tax write-offs.
If you find holiday savings on software, tools, services, or programs for your business, it might be the perfect time to take advantage—you can potentially save a little on your taxes at the end of the year.
Related: How To Handle Basic Bookkeeping For Your Business On Your Own Like A Pro
Be Sure To Compare Prices On Office Supplies To Find The Best Deals
Just as you would in your personal life (hopefully!), you should compare prices to find the best deals for your business as you browse for holiday savings.
For example, check places like Amazon, Staples, and Office Depot for similar items to see where the best savings are.
Don’t impulse buy just because something looks like a great deal! You might actually find a better deal elsewhere, so do your research and weigh your options.
The Best Way For Business Owners To Find Holiday Savings Opportunities
Now that we know how to get prepared, let’s talk about the season where our inboxes start to fill up with discounts and deals. Finding the best holiday savings is possible, but there’s a right way to do it.
I typically don’t recommend spending a bunch of money all at once. But there is a trick this time of year to saving money in the long run! As online business owners, we use a number of different software programs and a lot of those programs run Black Friday or Cyber Monday deals.
In addition, since it’s nearing the end of the year, this is a great time to consider if there are any large expenses you want to invest in. Those big purchases can decrease your tax liability for the year.
I only recommend doing this if you have excess funds in your business right now. If not, don’t worry about it—you’ll be able to catch some of these deals next year.
If you do have excess funds in your business, I recommend going through your software subscriptions and seeing if any of them are offering holiday savings. Even if they’re not, look at what the annual cost of the subscription is as opposed to the monthly cost. There are almost always savings when you choose the annual subscription.
Another caveat – you should only do this for software you know you’ll use for the next year. If you may cancel it, then stay on the monthly subscription.
Evaluating My Own Software Subscriptions
Recently, I dug into some software subscription costs, and this is what I found in terms of annual savings!
- Canva – $119.99 per year (savings of $36 per year vs monthly billing)
- Teachable – $348 per year (savings of $120 per year vs monthly billing)
- Yesware – $180 per year (savings of $48 per year vs monthly billing)
- Zoom – $149.90 per year (savings of $30 per year vs monthly billing)
- ActiveCampaign – $108 per year (savings of $72 per year vs monthly billing)
Total cost now – $905.89
Total savings per year – $306
Not too bad!
Some companies might even offer bigger deals for annual plans purchased during the holiday season.
You can see that some offer more savings than others, so you can weigh that into your decision if you can’t pay for all the annual subscriptions, but you can do a few.
You can also do this throughout the year. But it’s worth checking for these deals especially around Black Friday since there tend to be bigger opportunities for savings.
Score Deals On Programs and Courses, Too
Obviously, a lot of software and tools go on sale during this time of year (between Black Friday and Cyber Monday). But keep in mind that a lot of programs and courses go on sale during this period, too!
Your favorite business owners may be running really great promotions and opportunities for holiday savings during this time. If you have a program or course on your wishlist that you’ve been considering purchasing, try to hold off until they’re running a deal. This time of year is the best time to score those really big savings!
Finding holiday savings for your business feels a bit like unwrapping the perfect present—exciting in every way. And when it comes to being an entrepreneur, you deserve to save in all the spots you can!
So do your research and utilize these tips…they’ll keep the season more merry and bright than ever before.