Tuesday, March 1, 2011

Use Groupon

Want to take your money further and experiment doing new things? Groupon might be the answer.

Groupon is a service that sends you daily deals on products and services being sold near your location. In order to use it, you give them your geographic location, your e-mail address, and they send you discount coupons that are often offer massive savings.

The massive savings are obtained essentially by strength in numbers—this explanation via Wikipedia:
The company offers one "Groupon" ("group coupon") per day in each of the markets it serves. The Groupon works as an assurance contract using ThePoint's platform: if a certain number of people sign up for the offer, then the deal becomes available to all;if the predetermined minimum is not met, no one gets the deal that day. This reduces risk for retailers, who can treat the coupons as quantity discounts as well as sales promotion tools.

Groupon makes money by keeping approximately half the money the person pays for the coupon.So, for example, a $80 massage could be purchased by the consumer for $40 and then Groupon and the retailer would split the $40. That is, the retailer gives a massage valued at $80 and gets approximately $20 from Groupon for it. And the consumer gets the massage, in this example, from the retailer for which they have paid $40 to Groupon.
A couple caveats apply--first, there are rumors of whether or not Groupon actually benefits the retailers it gives deal to, except you don't have to care about that, so long as you benefit!

Second, the service works better if you’re female, because most of the site’s services are aimed towards women. Also in order for this to be a positive for your life, you need to resist the urge to blow money on stuff you don’t need, since you get deals every day.

But if used sparingly and only used for things one needs, then Groupon can be a powerful tool for you to save money and to live large, the two things Bosses excel at.

So use Groupon, and keeping on Living The Boss Life!
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  1. Groupon is literally the best invention every.

  2. Heh, I might not go that far, considering it hurts some businesses rather than helping them, but it can be pretty cool and useful.

  3. It's certainly an ingenious idea for whoever came up with it. Don't know if I'd use it though, now that I know it hurts the people trying to do legit business. Thanks for sharing. :)

  4. Groupon has taken over the interwebs.

  5. I'm not sure I like this. While it seems really useful and all, it seems like businesses are getting the short straw.

  6. good to know, nice post

    + followed:)

  7. I've never heard of it before. Thanks.

  8. I live for groupon. I just wish i could buy a bunch off the coupons at a time. They always have an imposed limit.

  9. it's a nice idea, have a few friends woh checked it and they say it's ok, i will se

  10. Aye, I've been using Groupon on my Android phone for a week or so now. Good stuff.

  11. It is bad for the business, but businesses need to experiment sometimes to make money. Not every experience ends in failure. And customers (myself included) think its great.