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Business travel: Three reasons to loosen the purse strings
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Business travel: Three reasons to loosen the purse strings

News Desk
News Desk
January 31st, 2023
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#3 – The cost of potential delays

The delays you can suffer should you choose to travel by cheaper options are bad enough in terms of actually making your appointments on time, but they can also be costly. This, obviously, defeats the objective of travelling on cheaper options; they can ultimately end up costing more.

Here’s an example of how this can play out:

You and three colleagues need to travel from New York to Los Angeles for an important meeting at 3 p.m., so you book a flight with a standard passenger airline. The flight leaves at 8 a.m., so you have plenty of time to make the trip. It costs $400 per person.

When you arrive for your flight, you discover there is a delay, and the airline cannot guarantee that you will be able to fly that day at all.

You cannot miss this meeting, so you have no choice — you have to book the second flight, at last-minute hiked prices, with another airline. These tickets could potentially cost up to $1,000 each, and you’ll have to pay this in addition to the $1,200 you have already paid. You may be able to obtain a refund on the first flights, but it’s unlikely. You’ve also suffered a huge amount of stress, anxiety, and delay, which is far from ideal on a day when you have a number of important business meetings. Suddenly, your cheap deal has actually turned out to be costly in a number of different ways.

The cost of chartering a plane would have been more expensive, but it would have been far simpler, and it would have taken off on time. You could have taken the time to find an “empty leg” flight that worked with your schedule. An empty leg flight is a circumstance when private and charter aircraft would otherwise be flying empty, so flight costs are hugely discounted as a result, so there’s a real potential for bargains if you can organize your trip around these flights.

With private and charter planes you know the money is spent on a service that will be genuinely beneficial, and that you’ll be able to use. The same cannot be said for cheap standard carrier flights, which will always have an element of jeopardy to them.

In conclusion

No business owner or CEO wants to spend a fortune on travel, but the truth is, it can be worth it. Loosening the purse strings to ensure you get where you need to be, when you need to be there, is ultimately a good business decision. It might not come naturally, but in life, you tend to get what you pay for. If a trip is important to your business, then saving money shouldn’t be your first consideration; furthering the progress of your business should always be your number one influence on the decisions you make.

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