While it can be easy to look at Cyber Monday as that day that you buy a new TV for your living room or finally pull the trigger on an Amazon Echo (yes – they’re $149 today), it’s also a great time to lock in savings for your business.
I started doing this years ago, and it has saved me a small fortune over the years. There’s also some simple data-driven logic that I now apply to it that makes it more systematic. Here’s how to perform the analysis yourself:
- Look at your business bank account
- Review services that you pay monthly
- Go to the website of each company, see if they are offering a Cyber Monday deal on the year
- Pay the year in advance at the Cyber Monday rate
- Now look at services you have already paid for a year in advance for
- Go to the website for those companies and see if they have a Cyber Monday deal
- Next – equipment, are you buying any laptops, monitors, power strips, etc. in the first 3 quarters of 2016? Buy them now instead.
- Now for domain names – planning on renewing next year? Look for Cyber Monday deals at your registrar.
- Next up, gift cards – sometimes companies you use on a regular basis will offer gift cards where you pay $80 and get $100 credit or similar. If you know you’re going to spent $2,000 with a particular company, and you can get $2,000 in gift cards for $1,600 you’ll save $400 just for leveraging this deal. I’ve done this many times and it’s one of the things I see get overlooked so often because people only think of gift cards as gifts for other people.
- Last but not least – if you need new clothes for work, Cyber Monday is the best day to buy online, pick your favorite brands and there’s a good chance you can lock in savings that you won’t see until this time next year.
So don’t look at Cyber Monday as a time to lock in some serious savings for your business and start 2016 ahead of the pack.