Why The Right Travel Card Is A Must For Entrepreneurs
Shop around and ensure that your travel card offers exclusive benefits
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Entrepreneurs often spend most of their time managing their businesses online. But sooner or later you will be required to visit clients, attend conferences, and map out new markets in-person. The right travel card can either make travel into a necessary sacrifice or an effective use of funds. With travel always getting more expensive, cards like the SELECT black card have become a "must' for entrepreneurs.
With the US travel industry being worth $1.35 billion per year, this guide is going to show you why the right travel card is an essential for entrepreneurs.
Travel is Only Getting More Expensive…with a Limited ROI
The rise of the Internet has completely transformed the need for travel and the way entrepreneurs are using travel. A risky trip from San Francisco to New York, for example, can put you thousands of dollars in the hole without a guarantee of a return.
Tracking ROI is extremely difficult, particularly if you're not signing a contract with a client. Researching a new market or attending a conference, for example, can cost thousands of dollars and you're not sure whether it was all worth it.
So what's the answer?
Your only option is to reduce the cost of travel, and that's where the SELECT black card comes in. It helps you to continue cultivate your business relationships without hurting the bottom line of your business.
Compete with the Big Companies
Unfortunately, entrepreneurs will quickly discover that most rewards programs, relating to hotels and other travel perks, are out of reach of entrepreneurs. You have to be a big business spending thousands of dollars every single year on travel to access them.
But what entrepreneurs may be happy to discover is that they can compete for the first time. Carlo Cisco, the CEO of SELECT, says, "It's a natural fit for the entrepreneurial community. We give them access to benefits and rewards beyond what many of the largest companies in the world can access; we help them compete."
Entrepreneurs need to start looking into the little-known programs that target them. They need to stop aspiring to the programs that big companies have access to.
Does Your Travel Card Give You Exemplary Travel Benefits?
Before you start looking into cards that could facilitate affordable business travel, you need to take a step back and think about the benefits you actually want. There's little point in getting discounts on flights to Europe if all your flights are domestic, for example.
Take a look at the things you actually need, such as rental car discounts, hotel discounts, and some extra luxury features, including free or discounted meals. Big ticket items like private jets are nice, but most entrepreneurs need to consider whether these are really necessary right now.
Are they Exclusive Benefits?
To get more value out of your travel card you should start looking into exclusive benefits. This is what traditionally separated the programs aimed at big companies and those aimed at smaller companies. Now entrepreneurs have access to a package of exclusive benefits with the SELECT card.
For example, you can get discounts of up to 60 per cent in major markets like Miami, Los Angeles, and San Francisco. You know you're getting value from your travel card when you're getting access to exclusive benefits.
Can You Turn those Benefits to Business Purposes?
Don't just think about the benefits themselves. Think about whether your card offers exclusive benefits that can be turned into a benefit for your business. For example, the SELECT card provides access to exclusive events, including gallery openings and rooftop parties.
Events like this can serve as a powerful asset for you as an entrepreneur. Make the right impression by taking out your prospective clients to events they could never get access to. Show them that they mean a lot to your business. Don't just tell them. Little gestures like this can give you a client for life.
This is the part that many entrepreneurs forget about. Travel cards can prevent you from having to pay for entertainment out of your own pocket. This can add up to thousands of dollars saved over the course of the lifetime of your business.
Last Word – Choose Your Travel Card Carefully
Travel cards are an essential tool for entrepreneurs who have a need to travel. It's vital that you choose your card carefully, however. Shop around and ensure that your travel card offers exclusive benefits that you can put to good use for both your business and your clients.
Make the right decision and you could save a lot of money without compromising on quality. What do you think is the best travel card for you?