The practice of doing more with less is ideal for all businesses, especially when it comes to business travel expenses. However, the knee-jerk reaction to cut business travel altogether is something I warn against. Such a drastic move would likely be a greater negative impact on your company’s revenue than the corresponding cost savings. Keep this in mind - every dollar invested in business travel has brought in $20 in extra profits. Can you think of another investment in this day and age that would yield returns even close to that? No, we didn't think so.
So if we are in agreement that travel is an expensive but necessary evil required to grow sales, how do we make the trips happen without breaking the bank?
By Mike Marcin,