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March 20, 2008

Wine and Dine Your Clients without Breaking the Bank

5 Easy Ways to Stretch Your Client Entertainment Dollars

Businesslunch Meeting and entertaining clients is a necessity if you're in sales or a service business. (Shoot, every entrepreneur is in sales!)

But what to do if you're on a tight budget?

Here are my five tips to save on meeting your clients over food: 

1. Remember that lunch is cheaper than dinner, and coffee is cheaper than lunch.

2. Become a regular at one or two local spots. That way, the wait staff gets to know you and is more likely to give you great service and the little extras that stretch your dollar further and impress your client.

3. Donate to your local public radio station and get a MemberCard. In 170 U.S. cities, this card will get you two-for-one entrées or admission at local hot spots –- there are more than 12,000 participating restaurants and entertainment venues, including opera, theater, and golf.

4. Pay for the meal with a business check card that offers airline frequent flyer miles or other reward points. That way, the miles or rewards you earn on your business purchases can offset other business expenses or even a personal or family vacation.

5. Register all your check cards and credit cards with Rewards Network (formerly iDine).  You can choose your reward: either 20% cash back on your dining purchases at participating restaurants or points towards your favorite frequent flyer program. The best part about it is the savings or point accumulation is automatic –- you pay your food bill like you normally would and a few days later your points show up in your account. No special card or certificate to present at the restaurant, so you don't look like a cheapskate!

(TIP: To get frequent flyer miles as your reward instead of cash back, sign up for Rewards Network directly through your airline's frequent flyer program.)

In fact, you can multiply your miles on a single purchase by registering your airline check card with the Rewards Network program –- you get one set of miles from the check card, and another set of miles from Reward Network. BAM!

Using these techniques, not only have I saved hundreds every year on client meetings, but I usually earn enough miles every year for at least one free trip to the Caribbean -– my reward of choice. Island hopping is always fun, but getting it for free is even better!

We want to hear from you -- what's your favorite way to save money when you entertain clients?

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