Make the Most of Black Friday Without Overspending in Your Business

How many of us have fallen victim to overspending in your business when Black Friday comes around? My hand is high in the air. And if yours isn’t—well, lucky you! In my personal life, I’ve definitely spent more on myself than on actual gifts in the past.

We don’t want to bring that habit into our business. Instead, we want to have a strategy for what we’re going to spend money on so we don’t get caught up in shiny object syndrome. Shiny object syndrome catches many of us leading to overspending in your business. Today, we’re going to go over some of those strategies and how to plan ahead, so you can make wise purchases this month—without regretting them later. Be sure to read all the way to the end of this because I’ll be sharing one more tip that you might not have thought of, but it could really save you money this time of year.

It’s so easy to fall into the trap of overspending in your business—especially when Black Friday comes around or you see a good deal. That’s why we need a clear plan for what we’re going to buy, so we stay on track. It can feel overwhelming to see all the deals and promos flying around and try to figure out what you actually need for your business at this stage. That’s exactly what we’re diving into today.

First, I want you to make a wish list.

Channel your inner child and make your list for Santa—but this time, it’s all about your business. What would you love to purchase right now? Maybe it’s a software or tool you’ve had your eye on. Maybe it’s hiring help, snagging your favorite template, or jumping into a discounted mastermind.

List out everything that comes to mind. No need to prioritize yet—just get it all down. Then, do some research. What’s the average price? What kind of discount do you expect? This step is helpful because sometimes prices are inflated just before sales to make discounts seem better than they really are.

Hopefully, most businesses are being honest about their deals, but this is your chance to double-check before the frenzy starts. Take time to confirm whether it’s a good investment for you—and look at how much you’d actually save by purchasing now.

I think this also takes some of the pressure off. For example, if something only saves you $10, it’s probably not an urgent thing to spend money on—especially compared to something with a more significant discount. You’ll likely want to prioritize those higher-value items instead.

So, the first step is to create your wish list—your Santa Claus-style list—for your business. Write down all the things you’d love to spend money on right now, and then note the average cost of each item.

Next, back through and prioritize your list as best you can.

Sometimes this part can be tricky, so consider asking a friend to review it with you and help you figure out what matters most. As you prioritize, think about your biggest pain points. What purchases would relieve stress? What would buy back your time? These are often great investments. Also, consider whether each item is truly relevant to your current season of business or the one coming up in the next quarter. I know from personal experience it’s easy to get tempted by a great deal, even if it’s for something that’s more of a “next-next” step rather than the very next thing. But when we take on too much at once, our focus gets scattered. That’s why a clear priority list helps you identify what will actually move the needle in your business—and feel good about spending money on it.

Another helpful step when it comes to avoinding overspending in your business is to look at your finances.

Do you already have enough cash in the bank to cover the purchase? If it’s a payment plan, ask yourself how many more clients, services, or products you’d need to sell to cover those future payments. It’s so easy to get caught up in a good deal and feel like you need it, but we often overlook the real cost—whether that’s current cash flow or future sales. Taking time to write it all out and go through this prioritization process will help you make smarter decisions.

Now that your list is made and your priorities are clear, it’s time to maximize your savings. Sign up for email newsletters from service providers and keep an eye out for their promos. If it’s a software or tool, look for advance announcements or early access deals. See if a friend has an affiliate link you can use to stack discounts. Whether it’s promo codes, cashback offers, or loyalty rewards—make sure you’re getting the best deal possible. After all, Black Friday is all about scoring a great deal.

Now here’s where the hard part about overspending in your business comes in—because we all know that during the week of Thanksgiving, the emails will start pouring in. Deals, promos, and offers will show up for things we didn’t include on our original list. They might not be in your top 1, 2, 3, or even top 10 priorities—they might be number 20—but the discount is so good that you’ll feel tempted to jump on it anyway.

This is exactly why having a plan is so important. It helps protect you from getting swept up in all the flashy deals that sound amazing but aren’t aligned with your actual goals. However this looks for you, make sure you have some kind of accountability in place—whether it’s a business friend, a mentor, or even a quick check-in with yourself.

Now, I’m not saying you need to stick to your plan with zero flexibility. Sometimes opportunities come up that are genuinely helpful and just weren’t on your radar when you made your initial list. That’s okay! But when those moments come, I want you to go back through your decision-making steps:

• Am I feeling pressured by the urgency of the deal?
  
• Is this really the next right thing for my business?
  
• Will this move the needle forward?
  
• Am I willing to bump something else off my priority list to make room for this?
  

Even when time feels tight, asking yourself these questions can help you avoid regret later. That’s what I’m really here to help you with.

In summary, I hope this plan empowers you to feel in control of your money. That’s what a smart, strategic CEO does—she makes wise decisions based on the resources she does have. Whether you have a few dollars to spend this season or a more generous budget, having a plan in place ensures you’re investing with intention.

As you evaluate each potential purchase, ask yourself:

• Will this streamline something in my business?
  
• Will it save me time?
  
• Will it help increase revenue?
  
• Will it solve a current pain point?
  

Those are all great reasons to invest in something—as long as it’s the right thing at the right time.

One last tip to avoid overspending in your business

It’s easy during this season to focus only on new things you want to buy. But you can also save money by locking in deals for current subscriptions or tools you already use. Many platforms offer Black Friday discounts for annual plans or upgrades. If you know you’re going to keep using a tool, it’s worth checking if you can lock in a lower rate now for the coming year.

Just be sure to evaluate your cash flow first. Many of these deals require you to pay upfront for six months or a full year to get the discount. So think through how much money you have available versus what else you’d like to spend on.

I hope all of these ideas have encouraged you to think about the long-term vision for your business.

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