Many of you business owners out there will love this money saving tip. You probably have it sitting in your wallet. It’s called a membership card. The one I’m talking about may have been given to you after graduating college or completing the training needed to learn your trade. It is a membership to a professional organization.

Go ahead. Look in your wallet. Snag that Alumni Association card or the Plumber’s Union membership, or even that Women Writers of the Midwest card. Chances are, many of you haven’t looked at these outside the yearly tax deduction taken each year. Don’t worry, that will change today.

It is simple really. That little laminated or paper card is your key to some great benefits. In these economic times, such benefits can help to save your business a great deal of money. They can also introduce you and your business to a new world of like-minded people. Here’s just some of the perks.

Five Ways to Save Using your Organization Discounts

From Alumni Associations to Union and Club memberships, all professional organizations offer its members specials on certain products or with certain vendors. Although these discounts are sometimes viewed as minimal, they can be a godsend when you are having trouble making ends meet. That extra 20 percent off on office supplies comes in handy when you need toner but haven’t made the revenues to pay the entire delivery bill.

1. Vendor Discounts are are usually provided through the places that you will frequent most in your profession. An example is a home improvement store discount for professionals in an electrician’s organization.
2. Buy in bulk. Some associations also come with a discounted membership to wholesale retailers like Costco and Sam’s Club. These stores are great places to restock when you can’t afford to go to your regular vendor.
3. Universal benefits like hotels and car rental discounts are another perk. Save on that next business trip or conference by using your association membership discounts.
4. Group benefits are another way that professional association discounts can save you money. Yes, this includes insurance—health, auto, life, etc. For a small business owner, this is a must because individual policies are often much too expensive.
5. Discover the participating vendors by looking at your organization’s website.

Three Ways to Get Free Advertising

Professional organizations have monthly newsletters that keep members updated on their professions and fellow members. This periodic report is also used to showcase the businesses of members, especially those doing something unique in that particular industry. The result is free advertising for the lucky business.

Actually, it isn’t luck at all. The information gathered by the newsletter comes from news reports and word of mouth news as well. Here are some ways to get your business in the “news”.

1. Just write simple letter to the association telling about your new marketing strategy or successful cost cutting or even an anniversary.
2. If you are on MySpace or Facebook, add the association as a friend and send out bulletins when you have news. This is another way that the association gathers news for the newsletter.
3. You can also write an article of your own, touting your business throughout of course. This may also net you some extra cash as some newsletters pay for articles.

Using that professional association membership to save money is just one of many ways to take resources and turn them into benefits and opportunities.