The Small Business Owner's Guide to Scoring the Best Black Friday Deals
As a small business owner, Black Friday can be an exciting yet overwhelming time of year. On one hand, the potential to score incredible deals on the tools and resources you need to grow your business is enticing. But on the other, the sheer volume of sales and promotions can make it challenging to separate the must-have offers from the tempting-but-unnecessary purchases.
In this blog, we'll strategize your Black Friday shopping and ensure you make the most of the biggest shopping season of the year! By the end, you'll have a clear plan of action to help you save money, avoid impulse buys, and invest in the products and services that will truly move the needle for your small business.
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Step 1: Take Stock of Your Current Business Expenses
The first step in preparing for a successful Black Friday shopping spree is to take a close look at your existing business expenses. Grab a pen and paper (or open up a digital document) and make a comprehensive list of all the tools, software, and resources you're currently using in your business.
This could include:
An email marketing provider (like ConvertKit)
A website platform (such as Squarespace)
Video hosting and recording tools (e.g. Loom)
Productivity apps
Graphic design software
AI writing assistants (like ScaleNut)
Online course platforms
Project management tools
Accounting software
And any other subscriptions or memberships you have
As you review this list, make a note of which tools or services you know for certain offer Black Friday deals. A quick Google search should reveal if they've participated in past sales, and you can sign up for their email lists to stay informed about this year's promotions.
Step 2: Create a Wish List of New Tools and Resources
In addition to your current business expenses, it's also important to consider any new tools, software, or resources you've been wanting to try out. These might be products you've had your eye on for a while, or perhaps services you've been curious about but haven't yet invested in.
Go ahead and jot down a "wish list" of these items. Again, do a bit of research to see if the companies behind these products typically offer Black Friday discounts. If so, make sure you're on their email lists so you don't miss out on any limited-time deals.
Some examples of items that might be on your wish list could include:
Online courses or coaching programs
Digital product templates (like my Notion Templates)
Stock photo or graphic design libraries
Project management software
Accounting or invoicing tools
Social media scheduling platforms
Website themes or plugins
The key here is to be intentional about what you add to your wish list. These should be products or services that will genuinely enhance your business operations and help you work more efficiently. Avoid the temptation to add anything that's simply a "nice-to-have" but not a true necessity.
Step 3: Identify the Purchases You Should Avoid
Now that you've got your "must-have" and "want" lists compiled, it's time to create a "do not buy" list. These are the products or services that you know you'll be tempted by during the Black Friday sales, but that you should ultimately steer clear of.
Some examples of items that might end up on this list include:
Font bundles or graphic design assets from sites like Creative Market
Impulse purchases of online courses or digital products that don't directly align with your business goals
Subscription services or software tools that you've been curious about, but that you know you won't actually use on a regular basis
Physical products or merchandise that might be discounted, but that don't serve a clear purpose in your business
The key here is to be brutally honest with yourself. It's easy to get caught up in the excitement of a good deal, but those impulse buys can quickly add up and leave you with a pile of unused subscriptions or products. By identifying these temptations ahead of time, you'll be better equipped to resist the urge to click "add to cart" during the Black Friday frenzy.
Step 4: Set a Realistic Black Friday Budget
With your three lists in hand - must-haves, wants, and avoid - it's time to set a realistic budget for your Black Friday shopping. Take a close look at your current business bank account and cash flow, and determine how much you can reasonably afford to spend without putting your finances in jeopardy.
Remember, the goal here isn't to max out your credit card or drain your savings. Instead, you want to strike a careful balance between taking advantage of the sales and maintaining a healthy, sustainable cash flow for your business.
As you're setting your budget, consider factors like:
Upcoming expenses or bills that you'll need to pay in the next few months
Any major investments or purchases you've already planned for the new year
Your current revenue and profit margins
The potential long-term value of the products or services you're considering purchasing
Once you've landed on a budget number, stick to it. Avoid the temptation to overspend, even if you come across an irresistible deal. Impulse purchases, no matter how good the discount, can quickly derail your financial plans.
Step 5: Stay Organized and Accountable
With your lists and budget in place, the final step is to stay organized and accountable throughout the Black Friday shopping season. Here are a few tips to help you do just that:
Sign up for email lists: Make sure you're subscribed to the email lists of any brands or companies that are offering products or services on your must-have or wish lists. This will ensure you're the first to know about their Black Friday deals.
Set calendar reminders: Mark your calendar with the specific dates and times of any sales you plan to take advantage of. This will help you stay on top of the limited-time offers and avoid missing out.
Stick to your budget: Refer back to your budget frequently, and don't be afraid to walk away from a deal if it doesn't fit within your predetermined spending limits.
Avoid impulse purchases: When you're tempted by a sale, take a step back and ask yourself if the item is truly a necessity for your business. If it's on your "avoid" list, close the tab and move on.
Review your purchases: After the sales are over, take some time to review what you actually ended up buying. Reflect on whether those purchases were truly worthwhile, or if you have any regrets.
By staying organized, accountable, and disciplined throughout the Black Friday shopping season, you'll be able to make the most of the sales without compromising the financial health of your small business.
Bonus: My Personal Black Friday Recommendations
As a fellow small business owner, I know firsthand how valuable the right tools and resources can be in helping you grow a sustainable, profitable company. That's why I'm excited to share a few of my personal Black Friday recommendations with you.
First up, if you're looking for strategically simple ways to make your business work better for you, be sure to check out MY Black Friday sale.
Another tool I highly recommend is ConvertKit for all your email marketing and automation needs. Their platform is incredibly robust, yet still manages to be user-friendly - perfect for small business owners who want to level up their email game. Keep an eye out for their Black Friday deals!
And if you're looking to streamline your video creation and hosting, be sure to check out Loom. I use their screen recording and video messaging tools all the time, and their Black Friday discounts are always worth taking advantage of.
Finally, for all you content creators and bloggers out there, don't miss out on the ScaleNut Black Friday sale. Their AI-powered writing assistant has been a game-changer for my own content creation process, and I know it could do wonders for your productivity as well.
Of course, these are just a few of my personal recommendations. As you go through the Black Friday sales, be sure to refer back to the lists and strategies we covered earlier to help you make the best purchasing decisions for your small business.
Conclusion
Black Friday can be an incredibly valuable time of year for small business owners, but only if you approach it with a clear plan and a disciplined mindset. By taking the time to review your current expenses, create a wish list, and set a realistic budget, you'll be able to take full advantage of the sales without risking the financial health of your company.
Remember, the key is to stay focused on the products and services that will truly move the needle for your business, and to avoid the temptation of impulse purchases or unnecessary splurges. With a little bit of strategic planning, you can walk away from Black Friday feeling confident that you've made smart, intentional investments in the future of your small business.
So what are you waiting for? It's time to start planning your Black Friday shopping strategy!
