So you’re ready to set up your business, but there’s one thing that’s holding you back: your budget! You want to make sure you boost your ROI with every business expense you make.
One of the biggest expenses you’ll have is for your business technology. You want to make sure you don’t splurge on computers, laptops, and other gadgets.
You’ll also want to make sure that any business technology you buy will last for several years.
So how do you ensure the best ROI on your business technology? How do you find the best discounts on technology?
Here’s what you need to know:
Patience Is a Virtue
You’ll pardon the cliched adage, but if you don’t have an urgent need for a gadget, you should wait for the price to drop.
For example, you might want to look at computer deals on Black Friday or Cyber Monday. You might also want to wait to buy a technology product a few months after its launch.
You might find an external hard drive will drop in price a few months after it launches. A few years ago, you would’ve expected to pay over $100 for a 4TB external hard drive. Now you can find portable 4TB hard drives for under $100!
Only purchase your business technology when you have an immediate need for it.
Always Look for Deals
You should visit the technology website to find deals for your technology gadgets.
These are especially important for finding deals on computers and deals on laptops. These will be among your most expensive gadgets, and you’ll need them to last for several years.
For example, you can look on this site to find great deals on desktop computers.
Deals are great for finding discounts on otherwise premium products. You can also find discounts for bundled products. You’ll find discounts for bundles that include computers, monitors, and accessories.
Choose Your Retailer
Make sure that you take your time researching your retailers. You want to choose one that has an extensive selection of technology products.
For example, you want to find a few reliable retailers to buy all your business technology. This ensures that you can develop a regular relationship with your retailer.
Choose retailers that offer loyalty programs or exclusive offers for regular customers. These retailers will also take extra care with offering the best products.
Finally, you want also to make sure that your retailer offers great customer service. There should be a variety of options to contact a customer service agent. These can include email, phone calls, and live chat.
Make sure you assess the quality of customer service before you choose your retailer.
Contrary to popular belief, it would help if you considered buying your business technology products from the brand.
Buying a Lenovo computer or laptop from the Lenovo website will bring better deals.
You’ll also find that the customer service agents are more knowledgeable than those from other retailers.
Consider Refurbished Business Technology
While we all prefer to buy newer business technology, you’ll be able to cut down on your business expenses if you buy secondhand products.
Of course, with secondhand products, you run the risk of buying faulty or even obsolete products.
However, if you take your time to research the product’s quality, you’ll save without compromising your business technology.
For example, you might buy a laptop that’s been used for 1 year. If it’s only been used for 1 year, there’s a great chance that it’s still functioning well.
Most likely, the condition will be of the “like new” variety. The seller will also give you a generous discount on your product.
It’s best not to buy used or refurbished business technology that’s over 1 year old. When possible, please take the opportunity to inspect the item before you buy it.
Consider Older Models
No matter how much we all love our iPhone 12s, we can expect to see long queues at the Apple Store when the iPhone 13 gets released!
This “Fear of Missing Out” also exists within startups who break the bank to get the latest business technology.
To get great discounts on technology, you want to consider buying older models. These may still offer what you need at a much lower price.
You don’t want to choose obsolete models, of course. Don’t choose a Newton for your tablet device!
But a Kindle Fire is sufficient for an e-reader. A 2017 MacBook Air is almost as efficient as a 2020 MacBook Pro. You want to choose the models that work best for your company’s needs.
When choosing an older model, you want to make sure that it meets the following criteria:
- It has a large storage capacity; 100 GB as a minimum, including for mobile devices.
- It has a high-performance speed.
- It can work with newer operating systems and applications.
- It has a warranty or can get repaired or has replaceable parts that can get easily bought.
Choose Fewer Products
A great hack to save on your business technology is to choose fewer products. For example, instead of having 4 external hard drives, can you choose 1?
Instead of 4 external hard drives that contain 1 TB each, choose 1 hard drive with 4 TB storage space. Instead of giving each worker a desktop and mobile device, could you give them a laptop?
With a laptop, they can use it at the office and outside the office. This saves the need to have 1 device for each location.
You should also minimize accessories when they aren’t needed. For example, you should only choose a mouse if it improves efficiency. Otherwise, a laptop is fine with a trackpad and doesn’t need a mouse.
Save on Software
Part of your business technology expenses will include having to save on buying software. This is where you can actually save as much money as possible.
For example, you can opt for using Google Suite instead of Microsoft Office. You’ll save on paying a yearly subscription for a word processor, presentation maker, and spreadsheet program.
You can also use the free versions of Google Drive, Dropbox, or Box for many startups before you buy an external hard drive.
It might also be affordable to outsource tasks rather than invest in software. If you need occasional graphic design, you can hire a freelancer through Fiverr. This is much cheaper than paying a yearly subscription for Adobe Photoshop!
Another great strategy for saving on business technology is to stock up on coupons. Many online retailers will send coupons to loyal customers or if you sign up for their email newsletter.
You can also look to online coupon retailers such as Groupon for finding discounts on business technology. Physical retailers such as Best Buy might offer free catalogs that are filled with coupon vouchers.
You should also install browser extensions such as Honey to scout discounts while you shop online.
These browser extensions can add coupon codes to your online shopping cart. They’ll always look for ways to save money while you shop for business technology.
If your retailers offer referral or affiliate services, you should take advantage of them. For example, if you use a VPN service, you might get a discount for a subscription renewal if you refer more customers.
If you convince more businesses to use the same technology you use, you can expect generous discounts for future purchases.
Follow Blogs and Other Content
A great avenue for learning about discounts on technology is by following blogs and other content.
Technology blogs will inform you of the best deals on computers, laptops, and other gadgets. The most popular blogs might also offer exclusive discounts just for their readers.
The same goes for other types of content — particularly video content. For example, if you watch a video of a tech entrepreneur, they might share an exclusive discount code for products.
Many content creators might even give away business technology products. If you need to buy new hardware or try out the software, you might win it through a competition!
Ask Your Accountant
The best way to make sure you always save on business technology is to ask your accountant. Give them the responsibility of shopping for the best technology discounts and deals.
They can analyze your accounts to see how much your company has spent on business technology. You can give them a goal of how much you wish to spend each quarter on business technology.
It’ll be their responsibility to make sure your expenses remain below this line. They’ll continue to research throughout the year on finding the best technology discounts.
Get the Best ROI
Now you know how to save on your business technology and get the best ROI for your company.
Make sure you start by researching the right business technology for your company. Next, you want to find retailers, coupons, and deals that’ll help you save money on your purchases.
As your business grows, you can expand your business technology inventory. In the beginning, you want to start small and make sure that you stick within a tight budget.
You can find more tips on technology and entrepreneurship on our website!