Business & Property

Finding Out And Narrowing Down Ideas For Business

Finding Out And Narrowing Down Ideas For Business

Starting a business can be challenging even before you really start. The first thing you need to tackle with is picking the right idea. You need to figure out what you want to sell, what kind of solution you want to give as solution to many people, etc. Those can be stressful but it is a process you need to pass. You have entrepreneurial bug inside you and you need to feed it something good. 

Formula to pick the right idea for your business

Generally, there is no exact formula when it comes to running a business. Every successful entrepreneur may have their own journey with different methods and strategies. Hence, there is no ultimate rules or formula to start a successful business. However, find and narrowing business ideas is possible with these useful tips:

Pursuing your passion

It is not a must but if you can run a business that comes from your passion then it has higher chance for longevity. Why? It is because you will be passionate doing it. It is something you like so you also have that higher excitement because it is your expertise, something you already have the knowledge about. Unlike when you do something you don’t like, it sometimes can make you feel like you are being forced. When you are not passionate about what you are working at, it is easier for you to have the urge to quit and give up. Emotionally-driven idea can worth a try if it something you are passionate about. 

Find idea that solves personal problems

Find idea that solves personal problems

Many successful entrepreneurs started their business due to the urge to help others by providing a solution. However, solving problems of the others means you need to know what their problems is. Interviewing every single person you see on the street is impossible and inefficient. Hence, you can start with your own personal problems. Remember that you are also part of the world and there are many people who share the same problems with you. Solving your personal problem may have solve the other’s as well. 

Try to be an active observer

Aside from looking from your own perspective in finding a problem to be solved, you can also become an active observer. It means you observe your surrounding community and feed your curiosity by talking with people, and get to know more about their lives. You will find differences and similarities a long the way that can be your path to find some brilliant ideas. This process can help you gain better understanding of people’s behavior as well. 

Brainstorm and identify something that need an improvement

Brainstorming is such a great activity to find ideas. You can do it by studying the past, observing the present, and developing foresight into possible future trends. You may get fair assumption that can be a valuable idea. Also, you may consider identifying something you think need an improvement. It means, you observe the existing product and service and find if there is mistake to fix to make them work better. 

Develop Skills of Finding the Best Opportunities for Your Business

It says that many entrepreneurs have some kind of sixth sense for opportunity. It means that they are able to tell what opportunities will pan out and what opportunities won’t be a good fit for their business during networking event for example. Some entrepreneurs can casually visualize an opportunity’s journey from start to finish. The problem is, not all entrepreneurs have that kind of skill. Some of them find it hard to even decide which opportunity that will be a good fit for their business. 

Develop Skills of Finding the Best Opportunities for Your Business

How to develop the skill

If you consider yourself as one of those entrepreneurs who don’t have the sharpest skill to find the best opportunities for your business, you are not alone. Besides, this skill is achievable through constant learning. With practice and dedication, you will gain the skill and have your business grow even greater. And here are some tips for you to develop the skill of finding best opportunities:

Never let your eyes closed

The thing about opportunity is that, it can come anytime even when you least expect it. Hence, it is crucial to keep your eyes open. For example, when you first connecting with a person through LinkedIn, it may not seem to be potential for successful opportunity. However, you may find potential for collaboration or partnership when you look deeper. Every time you meet new people, ask them about their experience, their goals, etc. Hence, you can see if their answer align with your own vision. When you keep your eyes open, it means you look for opportunities in every places even in the most unexpected ones. This way, you will develop sharper sense of finding the best opportunities that will work.

Have the right mindset

Even if you keep your eyes open all the time, you may not be able to find the best opportunities if you don’t have the right mind. Hence, it is important to keep your mind primes, meaning you feel open and willing to try new things in order to take your business in directions you have not considered before. If you have closed mind, you won’t be willing to pursue the opportunities that don’t fit your certain goals. Being stuck in the same mindset often make give you less opportunity to grow and success. It is because you limit yourself to find something that may actually be your breakthrough. 

Keep practicing

Keeping our eyes open and having the right mind cannot be done in just one try. The best thing to do is to keep practicing them until finding the best opportunities become your natural sixth sense for you. Remind yourself to look for opportunities in unexpected places and situations to keep your eyes open. Also, remind yourself to stay open-minded by not easily dismissing idea even if it sounds new for you. Try thinking through different ways you can play out the opportunity to see if positive outcomes if you pursue it. 

Terrain & Materials to Know Before Building Canggu Villas by the Beach

Terrain & Materials to Know Before Building Canggu Villas by the Beach

So, you’re going to build villas in Canggu? One of the most gratifying locations to live is on the beach, and Canggu is one of the prime beachfront locations in Bali. Having a villa near Canggu’s excellent surfing beaches also come with huge profit. Afterall, this little coastal town is highly desirable among tourists and its popularity is skyrocketing within the past 10 years.

However, constructing in such a coveted area comes with its own set of challenges. Building a house in coastal region will be different from building one in the city or mountain. So, here we have compiled some tips you need to consider before building your dream tropical house in Canggu. Aside of that, we also recommend working with a local architect or designer, as well as local engineers that have expertise constructing in coastal conditions, to ensure you get the most value out of your investment.

Building Canggu Villas Near the Water

The oceanfront will always be a prime location that sells fast—especially as a vacation rental. However, being in the frontline of the beach comes with a challenging terrain. If your location happened to be in the sandy area, you might need a special foundation design. Post and pier foundations are great for oceanfront Canggu villas. Your seaside vacation house will be protected against water damage and harsh weather conditions with a post and pier foundation. These raised beach cottages are ideal for locations that are prone to floods. When you’re on the upper deck, the raised flooring will also provide you a better bird’s-eye perspective of the surroundings.

Building the Villas in Former Rice-Field Plot

In several parts of Bali, new structures are being constructed on the sites of old rice fields. Especially in newly developed region like Canggu. To prepare the ground, paddy fields are covered with a layer of white coral stone that is typically 1 meter thick and on which the structure is constructed. If the home being constructed is very large, the fill may not be compacted well and may subside (many are these days). The expansion and contraction of the muck in the paddy is the most common cause of difficulties. Paddy fields’ muck has been worked to retain as much moisture as feasible. It compresses significantly during the dry season before expanding again during the rainy season, which is not ideal under a home. Thus, you will need specific strategies to build a house in such terrain.

Preparing the Former Rice-Field Plot for Your Canggu Villas

Preparing the Former Rice-Field Plot for Your Canggu Villas

The first step you need to take is to ensure that the ground is stable. It should be adequately compacted if it has been filled. If the area used to be paddy fields, having the muck cleaned before filling the site is a smart idea.

After that, you need to ensure that the foundation is solid. It should be planned properly by a technically competent individual, and construction should be continuously monitored to ensure that the design specifications are met. Reinforcing steel should have the diameter required by the engineer, and concrete should have a suitable cement content. Keep in mind that to save money, local builders may frequently reduce the size of reinforcing steel or the cement content in concrete.

Lastly, ensure that the building has a well-designed integrated structure that allows it to function as a single unit. If the earth shifts, the home will shift as well.

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Choosing Materials for Your Villa

The corrosive tendency of sea salt is another problem for coastal buildings, and it may influence many external material choices. Therefore, material selections is very important if you want to build a high-quality, durable villas in Canggu.

Woods & Composite – Choose materials that can endure exposure to sea air and are naturally resistant to harsh weather, such as decay-resistant woods or composite materials that require little or no care.

Metal – Metal is a robust and durable material. However, it is sensitive to salt air if left exposed. Cedar and concrete are both excellent choices since they are both durable and weather resistant while also being attractive.

Non-Wood Composite – Non-wood composite materials such as fiberglass and non-cellular PVC plastic, which are more weather resistant, should be used for all external trim and siding.

Seam Metal Roof – This material is indeed more costly. However, they can provide superior wind and corrosion protection. Standing seam metal roofs also give off a strong architectural appearance, which can be a plus for a luxury ambience it gives to your villa.

Owning Bali Holiday Villas: What Nobody Tells You About

Owning Bali Holiday Villas: What Nobody Tells You About

So you decide to buy a villa in Bali for investment and your second source of income? Here’s some of the truth of owning Bali holiday villas that nobody have told you about. See if owning a vacation home in this tropical island really suits you. 

There’s More to Reap from Your Bali Holiday Villas than Just Money 

All of the decisions you make as a property manager benefit you in your daily life. Choosing the amount you want to charge your tenants, determining the value of various services and amenities, and budgeting to prepare your house as a holiday rental all help you manage your personal finances in your own home. Even if you only rent out your property once, the financial lessons you acquire will benefit you for years to come. It’s a budgeting and accounting lesson. Using a dependable property management system can also assist you in keeping things running smoothly, with all potential snags and problems worked out.

There Are Some Special Features that Boost Bookings

It may come as no surprise that certain characteristics are highly sought after in a vacation home, but did you realize that allowing pets to stay in your Bali holiday villas can have a major impact on the amount of bookings you receive? Adding a big hot tub or oven in the kitchen on the other hand, can boost your property’s charm as well as its booking value. Spending time researching what features are in demand in your area and what the competition has to offer will help you stand out from other holiday homes in the area.

There Are Some Special Features that Boost Bookings

It’s the Small Gestures that Give You Five Star Reviews

Small details go a long way toward making your guests feel at ease at your vacation home. Simply turning on the fan before to your visitors’ arrival on Bali’s hottest day, or adding a few comfortable touches to make the space feel welcoming and homey, may make a big difference in how they feel during their stay at your property. Also, why not provide some goodies for your visitors before they arrive?

You’ll Meet All Sorts of People from All Around the World

You’ll be interacting online with a large number of new people from all over the world. Especially if you manage your Bali holiday villas by yourself. If you reside on or near the property, you may have the opportunity to meet them in person and make direct contact. Your world will soon be expanded by visitors from all walks of life, which can only be a good thing!

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Owning Bali Holiday Villas Will Teach You Trusts

You’re essentially bringing complete strangers into your home to live there for a short period of time, and you want them to treat it well and respect it as if it were their own. As a result, every time you accept a booking, you are effectively learning trust. While you should have a comprehensive insurance policy in place, you must also trust others, which in most, if not all, circumstances benefits both parties.

What To Consider Before Expanding Your Business’s Operation

What To Consider Before Expanding Your Business’s Operation

In business world, growth is often considered being equal as expansion. Well, it is not entirely wrong to equate growth and expansion but doing it hurriedly is not the right thing to do either. It is not a simple project to do because business expansion regardless how small the step is can be risky. The impact is not only for one area but can be for all. Hence, taking some consideration before expanding business’s operation is the best thing to do. 

Details to consider before expanding your business’s operation

Jumping into business expansion without taking any consideration is like a suicide mission for entrepreneurs. You don’t know what will happen but the highest possibility is that you are going to fail. It is more detrimental that you think regardless of how much of a risk taker you are. Here are some things to consider before expanding your business’s operation:

Understanding the size of your market and your ability to access it is essential when it comes to expansion or scaling. You need to analyze every aspect of the marketing to know the access route of customers, the channels, etc. When you expand your business, you need to be ready with more exposure. It may sound good but more exposure come with more demand. If you are not ready, sustainable growth will be harder to achieve. 

Details to consider before expanding your business’s operation

Before scaling, make sure you know your capabilities especially the ones you already have. Then, you need to know how to leverage all those capabilities towards the new offerings when it comes to the expansion. If you scale too high, it may be too difficult to handle because your capability is not there yet. 

Find out if the expansion you are planning aligns with your core expertise. If your new products or services stray too far away from your core then your business will have nothing ‘unique or different’ to offer. You will be like one of the group of fish swimming in the water. Make sure that the expansion you talk about hit that sweet spot so you get amazing outcomes. 

Financial setting is also not less important than other factors when it comes to business expansion. Regardless of how brilliant your idea for the expansion is, it will get nowhere if you don’t have the right support with the right resources. Hence, make sure to review and determine your working capital needs first. 

Find out more about your offering’s relevance. Do not do this after spending your money but before. Find out what reaction you get through content you use as a test market to different areas. Marketing your product or service on platform that can give you data you can use later. Follow the data and see which area focus well with your offering. Also, it is important that you optimize your current offer before expanding it to a new one. It will make it easier to expand if the base offering is optimized already. 

How Technology Can Help Small Business Retailer To Thrive

How Technology Can Help Small Business Retailer To Thrive

There are many types of retailers all around the world. It is considered one of the most promising career path because it offers opportunities and flexibility. This year, buying habit has shifted into eCommerce due to the global pandemic. More challenges appear in business field which also affect how retailers are going to work. However, technology does matter in helping small business retailers to navigate through this hard times and thrive. 

Thriving with technology for small business retailers

Retail strategy is not ill-fated even during this gloomy time. Even with the situation with the global pandemic, the surveys show that most buyers choose to buy from small, independent local retailers. It means, small business retailers have big opportunities to navigate better. The key is to familiarize themselves with technology that can support them to make it work.

Be aware of the social awareness

Be aware of the social awareness

Today, there has been growing movement of social awareness. Small business retailers can take advantage of this situation. This way, they can put their efforts so customers know that their values are aligned with the local retailers they trust. Staying relevant in local market is just as- if not more – important as diversifying revenue by reaching out new audiences through eCommerce. 

Find ways to stay relevant

Retail entrepreneurs can use various strategies to stay relevant in local market while growing their revenue. For example, they can use digital ad geofencing. This is a strategy to reach local buyers by designing digital ad campaigns that target them based on their geographic location. Geofencing allow retailers to restrict their ads to be only seen to specific areas. This can benefit retailers in increasing traffic. 

Personalization is key

Personalization is the next key retailers can take advantage by using technology. Customer data collection is essential especially when face-time with shoppers are so limited today. Personalizing marketing messaging can help retailer build connection more with buyers. Personalizing marketing messages can be in various ways. For example, using buyers’ birthday to give special offers. The data collection will also contain information regarding to buyers’ interests. It can be used to deliver more personalized service as well. 

Track local customers’ shopping habits

Local customers’ shopping habits can be tracked using technology and retailers should take advantage of this. Retailers will be able to identify what customers like to buy or the hours of buyers tend to shop. This is valuable information to collect. With the right technology, this process is very possible. Modern retails need more actual data to be used as the base for making strategies. Data is the most important key for retailers to provide excellent service and buying experiences. 

Try the AI programmes 

AI-driven programmatic advertising is also technology retailers can fully take advantage of. It can target high-value demographics in their area. Even with limited advertising funds, small business retailers can still be able to maximize the effects. It might be a little difficult to navigate using this technology but it truly pays off when it is used properly. Continued recession is still possible in the next few months. However, small business retailers still have chance to survive and thrive using the right strategies. 

Setting Business Goals For Next Year

Setting Business Goals For Next Year

For entrepreneurs, 2020 is surely one of the toughest time to pass. The challenges and obstacles entrepreneurs are and have been going through are not something small. For sure, 2021 is expected to be the better year. Many entrepreneurs hope for something brighter to come next year. Now is the right time for reviewing and setting business goals. Sometimes, you set business goals that seem to be so unattainable making you feel exhausted even before the new year start. Hence, it is important to know how to set business goals for the new year. 

Setting business goals are crucial

Goals are important elements when building a business regardless the size. Without goals, it feels like you are running without destination. Hence, you don’t know whether or not your business has improved. Goals will help you create the best strategies you will stay in the right direction and path. 

Many entrepreneurs focus more on big goals. However, it is not always necessary to always stick to big goals. Hence, set small goals to achieve as well. When you can achieve small goals, you will be more motivated to reach even the bigger ones. Hence, do not feel inferior just because you set some small goals for your business. Every goals are equally important and will be meaningful for your business. By setting goals, your business will grow. 

Setting business goals are crucial

It is okay if you cannot set the goals in one sitting. Sometimes, it can be confusing to start setting new goals for new year. Sometimes, current problems can be so distracting that you find difficulty in setting goals. What you can focus more in the beginning of goal setting is not to think about the goal itself but what you want to accomplish. For example, you want to have better finance management. To achieve this, you will have to review and analyze your finance management. Then, you will be coming up with the goals. 

Avoid setting goals that sound too general, so be more specific with your goals. So when the times come for you to achieve those, you know whether you have accomplished them. You can go descriptive and with your goals so you can see them as clear as possible. Put some details if necessary so you can envision what to do to achieve those goals. 

After setting the goals, commit to them. Goals are nothing until you put some efforts to achieve them. You don’t have to keep second-guessing your goals. Instead, stay focused and determined to reach those goals. Track your results consistently so you know how far you have progressed. 

Implement self-discipline to achieve goals. You can do it by setting deadlines. Hence, you won’t even think about procrastinating. Time-focused goals can help you more committed. It can also help boost your spirit to achieve those goals. Also, remember to celebrate the milestone you reach and goals you achieve regardless how small they may seem to you. This is to appreciate your hardwork so you feel more motivated to achieve more. 

Real Estate Bali Seminyak is the Best Investment for 2021

Bali travellers and investor usually have their own financial plans, and Real Estate Bali Seminyak will always be ones to favourite. The reasons for this is because bali real estate investments will always have as strong and predictable cash flow. In addition, Makes investors’s future financial align more straightforward. Also in general, this investment will provide a higher return because of the uprising demand and positive leverage.

Real Estate Seminyak Bali

Much preferably, the Seminyak area which consider as top destination for travel and leisure. This area provide a never ending loop for leisure and entertainment for its visitor. This indicate that more visitor are willing to live in Seminyak area for short term and even a long term residence.So what else support this as a best investment?

Appreciation in the Market

This is an interesting indicator, because after the covid19 pandemic hit Bali’s tourism really hard. It seems that now the industry are slowly recover from the bottom hole. Furthermore the depreciation levels of real bali estate have risen significantly during these past month. And we could see a strong stimulus in the market until the end of 2020.

Improvable Real Estate Bali Seminyak

You can purchase an almost empty real estate bali seminyak, and with enough repairment, you can change it into something luxury masterpiece. So imagine that you invest in the unit for $40,000, and you budget to spend $20,000 to add extra rooms in which add up the unit interior and make it more modern. Not to mention you could also add additional unique features to it.

Real Estate Seminyak Bali

Furthermore, whenever you finish repairing your property, you could compare it to the market and state that the value is now worth multiple times than before.  That’s an effective small investment and time for a huge return. Besides directly selling it, consider to renting out instead. You would make more return investment back over the years. Not to mention, the family would have been proud with this kind of investment.

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Retirement Planning

Another point that makes invest in real estate bali seminyak is an interesting business is that usually by the time the unit close its investment, all of the real estate that you own with mortgage will be paid off. Furthermore, with this indication your cash flow is likely to increase for a long period of time.

Investor often consider state as a forced saving practice. In addition, you will get a passive income and significant amount as the time goes by. In which, someday you will need those amount to provide you the best treat for retirement. This is why real estate bali seminyak most likely a perfect investment for retirement.

Predictable

Unlike stocks and shares that you find it difficult to predict the interest and rate of cash flow you will get from your portfolio. Investing in bali real estate provide a huge different than those stocks and shares. In addition, you can easily predict the return you will get from your real estate portfolio.

Real Estate Seminyak Bali

Cash flow is the net spendable income that given by the investment portfolio after its operations, and mortgage payment. What we discussing here is at least greater than 10% investment ratio

Lessons Every Business Owners Should Take From Covid-19

Lessons Every Business Owners Should Take From Covid-19

2020 is surely the year of the big storm even for business industry. There are many businesses who couldn’t survive the waves and shut down completely. However, there are also few of them who have survive and keep on thriving through the waves. Those who survive have been forced to pivot. Adapting is the only way for a business to keep going during this tough time. Those who are not willing to pivot and will be left swallowed by the waves. 

Valuable lessons to learn from covid-19

Surviving crises is part of running business but the situation with covid-19 has hit very hard that it has forced many to closed down entirely. However, it is possible for many other crises in the future to happen. That’s why it is important to take lessons from the covid-19 to help you and your business more ready to face the future. 

Crisis happens

The first lesson is that crises happen and sometimes they are inevitable. Even if you have prepared your business from the bottom to the top, there will always be possibility to face crisis in any form. However, it is not about avoiding crises but more like responding to crises. It is best to make the best plan for your business but be prepared for the plan you need for the wors case scenario. It means you you plan for the worst but hope for the best. Anticipating crisis will allow you to think creatively and flexibly. 

Strong company culture can be a great asset

Lessons Every Business Owners Should Take From Covid-19

Strong company culture is also a great asset for your business to keep steady even during crises. This is what a few business had when they survived the waves of covid-19. They have mutual trust and understanding with their team members allowing them to find the best solution together while adapting to work remotely efficiently,and productively. Therefore, it is time to build strong company culture in your organization so everyone has solid foundation to face the unknown of the future in unity. 

You need strong communications

Strong communication is also a great lesson you have to take from covid-19. it doesn’t matter if you choose to be over-communicating. It is important to keep your communication steady with your customers, employees, as well as partners and suppliers. You can use various platforms from conventional to modern to maintain communication. 

Saving is important 

Save your cash. It is also a great lesson to take from covid-19. At least, you have cash that can help your business survive for 6 months. During that period, you can plan strategies to adapt with the crises without letting your business falling. Try to maintain enough resources so your business will still have full fund for operation when a major disruption hits. 

Innovation is your help

Innovate is like major lesson to take from covid-19. those who are unwilling to innovate won’t survive any crises. When you can innovate and reinvent quickly, your opportunity to stay steady during major disruption is higher. Innovation helps you to adapt to any changes with more agility, helping your business find its way to keep thriving.

Tips To Increase The Loyalty Of Your Customers

Building a reliable customer base is crucial for a business. Without loyal customer base, it will be harder to reach your goals. Therefore, it is essential to cultivate your customers’ loyalty as well as give your audience a reason to keep coming back to you. Retaining loyal customers is not an easy thing to achieve in business. Many are still struggling. In fact, retaining existing customer is proved to be harder than acquire a new one. 

Increasing the loyalty of your customers effectively

Increase customer loyalty can result in many good thing for your business such as boosted sales, stronger customers relationship, and more. Loyalty is something that you can improve of your customers. Using the most effective strategies is needed. Here are some of the tips of increasing customers loyalty you can consider:

Improve your customer service. Customer service is just as important as the product or service quality. Make sure that you know how to provide your customers of what they need. An innovative line of products can attract customers. However, excellent customer service will get you their loyalty, making them keep coming back to you. Excellent customer service is one of the most important ingredients in driving your revenue as well.

Customer

Excellent customer service can be accomplished by giving quick response to your customers’ problems, make them feel appreciated as human being, and improving services or features. For example, you can add a live chat feature so your customers can ask their questions and get the answer directly without having to wait for it days later. Make sure that your customer service department consists of people who have great communication skills, empathy, and patience.

Reward customers who make repeat visits. It is a way to make them feel noticed and appreciated as customers. When they keep buying your product or using your service, it means a great opportunity to build long lasting relationships. Thus, do not hesitate to reward them. There is wide variety of programs you can use as a reward system for your customer. Point system is one of the programs you can use to reward your customers. The more they make purchase, the higher their points, and the more rewards they possibly get. 

To increase your customer’s loyalty, it is important to gather their feedback first. Make sure they you gather their honest opinions so you know if they have good experience doing business with you. You can collect data by sending emails, using social media, or reviewing your website analytic. 

Another way to increase the loyalty of your customers is by providing social proof. This is when you have someone endorsed with your products and shared their positive feedback. Your customers will see this and able to decide if your brand is trusted or not. Social proofs can be in a form of hiring influencers, providing testimonials from your previous customers on your website, showing ratings and reviews, and many more. You can choose one or combines different social proofs to maximize your effort in increasing your customers’ loyalty.

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