Business & Property

Managing Small Business Part II

Management is important when it comes to growing business even though you start it small. Good management is the right foundation so your business will be in the long run. Obstacles and challenges are also part of business you need to deal with.

Manage your small business

However, you can deal with them better through proper business management. It can save you from various types of headache. Management also involves certain methods and approaches you use to handle your business more efficiently.

How to manage your small business

This is the continuation of managing small business Part I we have discussed before. So here are some tips to build business management properly:

Be decisive. Running a business is about taking decision. Every decision you make has its own risk and weigh you need to calculate beforehand. Therefore, you can always prepare for the best and the worst. You need to schedule meeting with yourself. You are the one responsible for the business and everyone working for you. During every meeting with yourself, you need to acknowledge every goal you have.

Then, you need to review what you have been doing so far, how your performance was, and is there is problem you need to solve. This can help you making better decision for your business.

Pay your taxes on time. To run your business properly, you need to know your responsibility. One of them is paying the taxes. This can save you from many problems regarding to your finance. Dealing with your money can be stressing. Thus, paying tax on time can help preventing from unnecessary problem. This way, your business management will run smoothly as well.

Avoid multitasking and take one step at a time. Of course, there are people who can multitask without a problem. However, every individual has their own way in finishing task. For better business management, it is highly recommended to do one thing at a time rather than multitasking.

It is safe that way.

You and your employees should make sure one task is finished before jumping into another one. This will result in higher quality work. It can also prevent your brain from going haywire due to multiple tasks.

Manage your money by hiring reliable accountant. Invest your money in accountant is worth it. When you start your small business, your knowledge and experience of managing your finance is limited. Thus, trusting professional to do the job will be much more efficient for your business. It can save your time.

Professional accountant can help you with the cash flow. Thus, you can avoid getting into risky economic situation.

Spare yourself some time to breathe. Working 24 hours in a week won’t make you successful in running your business. It is not a form of good business management either.

By overworking, you lose your own potential to be more productive and efficient. Therefore, leave at least 20% of your work to do things outside of work. You can use the time to take a breath and think of relaxing things instead of the workload.

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Business & Property

Managing Small Business Properly Part I

Running a business no matter how small it is can be challenging. Being successful in a business you run cannot be done overnight. It is something to achieve with hard work.

Managing small business part I

Basically, there is no such thing as shortcut when it comes to successful business because everything needs to go through the right steps. Getting started in small business is a good start for you to build wealth. The real challenge is you being lack of knowledge and experience.

However, with the right management method, you can achieve your goal through your small business.

How to manage your small business

Business management can be formed by various strategies and approaches. You can choose which one of those you think will work perfectly with your business. The point is to make your business run in order and systematically well. Here are some tips for business management you can start considering:

Treat your business like one. It means, you need to set up an LLC to save you from troubles in the future especially the one related to law. Running legal business is essential. Besides, it is possible that you or your business get into troubles such as using a name that was copyrighted elsewhere. It can ruin your reputation and credibility if you involve in this type of trouble. It saves you from getting sued.

Distinguish your personal and business matter. It includes your financial setting. You need to separate personal and business finance to save you from unnecessary troubles. Separating both as different entities is a wise thing to do because even the banks require official business paperwork if you want to open up something in your business’s name.

Keep tracking your money is important. Therefore, it is great investment to pay for accounting software. There are lots of software you can use to manage your expense and finance in general. This way, you prevent yourself from losing receipts, forgetting major expense, etc.

Educate yourself. It is important to have better and deeper understanding of what you are getting into. Investing your money in education so you can avoid costly trials and errors is a wise thing to do. You can pay for courses to educate yourself about the business you run. Or, you can also pay to have someone who’s been there done that. In other words, you pay for consultation with the experts or someone who have more experience in the same business.

Trust your team. Your small business needs the right management done by the right people. You cannot just rely on yourself to run your business. Therefore, it is important to recruit the right people and train them well. Thus, they know the ins and outs of business you run. When you have competent people working for you, running business will be easier.

Pay attention on the marketing. It is one of the most important factors in business. Do your own research of the market so you can figure out what they need. You can use market to your benefit by building trust, hype, loyalty, as well as anticipation.

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Business & Property

What Makes Bali Villas Better Than Other Accommodations

Choosing accommodation is a matter of personal preference. Every individual has their own preferences to state their ideal place to stay during a vacation. However, Bali villas are most preferable amongst visitors. Of course, Bali has other accommodation including hostels, resorts, hostels, guest houses, etc. however, the number of villas in Bali are incredible. There are various types of villas as well that you can realize every of your fantasy for a perfect holiday. You can stay at villa overlooking the magnificent ocean while feeling so close to the clouds. Everything is possible when it comes to villas in Bali.

Bali Villas

Choosing Bali villas over other accommodations

Villas in Bali are varied in sizes, prices, and locations. The features are also varied from one villa to another. You can choose the one that fits you. For example, you can book a villa located in more secluded area if you are having honeymoon. Or, you can book a villa with high-end facilities if you are having luxury vacation. The choice should reflect what you need for your dream retreat. Here are some reasons why most Bali visitors choose villas over other type of accommodations:

  • The perk of staying at villa during your holiday in Bali is that you don’t get stuck in a long line just to have breakfast. You don’t have to wait in line just to enjoy your leisure time in a daybed because the others are using it. Or, you don’t have to share the pool with other guests. Villas give you more privacy. Even if the villa is not entirely private, at least you don’t have to deal with the crowds. The number of the guests you will encounter with are only a few.
  • Friendly, experienced staffs. When you stay at villa in Bali, you don’t have to lift your finger to do mundane things. Cleaning, laundry, or cooking are not included into your itinerary. All those jobs belong to the friendly, exclusive staffs. Villas in Bali have already had in-house staffs ready at your service. They are well-mannered, experienced, and can speak basic English at least.
  • Staying in villa means you can save money. It is even better when you travel in group because you can split the rent. You see, some resort charge up to $300 per night. If you need two room, the price is doubled. However, you can find villas with 2-3 bedrooms for less than 3300 per night. Who says villas in Bali are expensive? You can find the one that is more cost-efficient if you search enough.
  • Another reason why staying at villa is better than at other accommodations is modern facilities. Some people are worried that facilities and appliances in villas are less modern. However, Bali villas are well equipped with modern facilities. Entertainment system, kitchen appliances, and cable TV are usually included in the package. You also will be able to enjoy en-suite bathrooms and infinity pools. Those just make your holiday in Bali more perfect that you could ask for.
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Business & Property

How to Choose the Right Location for Starting Out a Business

Before you decide the space for starting out your business, you should already have a clear image of how much you can invest for space and what you should have in the location. Additionally, you should also think about things that will add the value of the place, and things that you won’t be able to tolerate.

How to choose the right location for starting out a business

You should take enough time when determining these criteria and give a deeper thought. You can repair and fix some mistakes that usually made when starting up a business. But, it is almost impossible to be corrected if you have wrongly chosen the business location.

Choose a location that fits your business style

First, you need to keep in mind what style you will run the business. Get a firm understanding of what type of business operation you are going to run. Whether it is a casual or formal type, the business location you pick should be in line with your specific image and style.

If the business you are starting up is retailing, would you like a conventional store or rather operating a booth or kiosk in a certain mall. You can also consider making a cart that will allow you to move to different locations.

Learn about demographic in the area

In order to choose a perfect place for your business location, you should learn about your target market. Afterward, you should also consider how important the customers’ proximity to your business location. For some types of business, the proximity might don’t give significant effect but retailing and some types of service providers, the location is really vital.

Besides the demographic profile, you should also observe the community. If you aim for local customers, you should make sure that the percentage of the population in the area is sufficient enough to support your business. If the community in this area have stable economic, it will create a healthy environment for your business.

Pay attention to the foot traffic

Foot traffic is a particularly important key for most retail business. Being tucked away in the corner will be very bad since shoppers will likely bypass your merchant. On the other hand, if your business needs some confidentiality, then high traffic location would only give pain to you.

If you already have a potential business location, you need to monitor the traffic at different times in a day and on different days in a week. This way, you can make sure that the pedestrian volume will meet your needs.

Consider the accessibility

You need to think about the accessibility of your business location to not only customers but also suppliers and employees as well. If you want an area on a busy street, you should if cars can get in easily or not. Also, make sure that your suppliers will be able to efficiently deliver all the materials you need.

Take your competition into account

Depend on your business type, being near your competing companies sometimes can be profitable. You may already know about comparison shopping. Located nearby to the existing businesses will give you a chance to catch the overflow. This will work out especially if you run a restaurant or other kind of entertainment facility. However, if being near with competitor will only make marketing job harder, then, it’s better to look for other location.

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Business & Property Travel & Leisure

How Many of Luxury Bali Villas In the Centre of Seminyak?

Renting the luxury Bali villas in Seminyak are still affordable for many travellers. It is because, there are so many existing villas at Seminyak so there are pretty much special offers we can get. But to be honest, have you been known the exact numbers of how many of them?

You don’t need to count the whole villas in Bali, just simply think about the luxury villas in Seminyak.

And have you been found out the answer is? If you are using search engines and looking for the answer of how many the luxury villas in Seminyak are, based on my experience, there won’t be an answer for that. You will keep on getting the villa offers rather than the exact answer for the question.

Maps preview of how many luxury villas bali in the centre of Seminyak

This can be caused by the government itself has not been collecting the data very well or they didn’t do that at all? Seminyak itself is so much popular as the location where the villa’s accommodations are almost any corners of the village. You can easily find the luxury villa at the beach, nearby it, from any design styles and number of bedrooms. But seriously, how can even the Seminyak environment itself can be well preserved if there won’t be data for that?

Why it is important to know how many luxury Bali villas in the centre of Seminyak?

I have just said that if we could identify the numbers of the villas, later we can also measure about the negative impacts for the environment. But, we can also use the data to know how many possible travellers can be invited and stay in luxury villas in Seminyak. It is as simple as tourism forecasting thing where you can forecast how many travellers the area can get in a year or even less than that.

It is great when Seminyak is so much popular for its beaches as well as its new image as the “land of thousands villas” (I made up this term myself) for the past recent years, but if there won’t be a single man knowing the numbers of the villas, then how the businesses are paying taxes?

Knowing the numbers of the luxury Bali villas in Seminyak can also be helpful for the tourists. They will notice that if they will need to stay in a beachfront villa in Bali, then they will need to go to Seminyak area, not else. Tourists will also identify that there are so many accommodation offers for the villas alone ever since that kind of rental property is dominating the area.

Anything can be the clue for travellers and anyone else to know more about the development of tourism in Bali. Knowing the number of the luxury villas can also contribute in identifying new discoveries in tourism. But until this moment when I published this post, it is very unfortunate that even though the tourism in Bali has been very well-known in the world, there still no chance for me to know how many of luxury villas Bali in the centre of Seminyak.

Did I looking for the data the wrong way?

So far, if this post will be delivered to you, then simply kindly enjoy your travelling in Bali and think about to rent the luxury villas at Seminyak no matter if we are all don’t know how many there are.

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Business & Property

Types of Business to Avoid Nowadays

When talking about business, there are good businesses and there are types of business to avoid as well. Actually, it is fine to establish the types of business mentioned in this article, but you must be prepared for the worst since they are simply no longer profitable enough nowadays due to the saturated markets. Well, here are the types of business you should not bother to start!

 

  • Restaurants

Restaurant as one of the business types to avoid nowadays

While most people argue that restaurant business would never fade away since people constantly need food to eat, establishing a strong restaurant on your own is actually an extremely tough task. Most people who understand about economy and business would never want to start a restaurant business since it has an extremely high rate of failure. Besides, establishing a base of loyal customers is very demanding and requires special effort that is simply not worth your time since you also need to spend more on marketing. Indeed, there are many successful new restaurants out there, but most of them are actually owned by the people who already have a vast experience in dealing with this kind of business or simply has large connections.

  • Taxi services

The old days where the taxi is the most reliable transportation choice have been long gone due to the presence of online transportations such as Uber or Grab. These online-based transportation services manage to revolutionise how a transportation business should work and we are grateful for it. Unfortunately, such a revolution costs heavily and some people need to pay the price. Because of the advanced level of simplicity offered by online transportations, taxi services struggle to find their customers and they have become the types of business to avoid since they are no longer profitable- it is no longer easy to convince a person to take a cab instead of booking an online pickup service.

  • Electronics repair

There is time when you don't need to do business in electronic repairs

For developing countries where less advanced electronics are still omnipresent, having this kind of business is actually not too terrible. However, for developed countries where high-tech electronics are heavily utilised, working as an electronics repairer is actually not a wise idea. The reason why being an electronics repairer is no longer a thing is that most appliances nowadays are deliberately designed to have a service life of fewer than ten years. Also, when one of them gets broken, repairing is pretty difficult and expensive since the components inside are ridiculously advanced and buying a new one is cheaper than having to repair a broken one.

  • Retail business

Well, while most people adore this kind of business since it is relatively simple to establish, having a retail business is actually not profitable anymore. Operating a retail business is getting tougher and tougher every day since there are too many large department stores which offer insane discounts such as Walmart. The thing gets worse since most people tend to favour online shopping even more. A retail business is simply not an option for you if you wish to make a living. Therefore, a retail business is one of the types of business to avoid!

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Business & Property

Best Accommodation to Choose from Bali Luxury Villas

Managing and designing holiday Bali experience for over 20 years, Bali Luxury Villas has many types of private villa you can enjoy. You see, renting a villa in Bali is more popular than booking a room in a hotel. Villa gives more privacy and comfort which makes most tourists feel at easy during their holiday in Bali. Bali is one of the most charming travel destinations. You should visit this place at least once in your lifetime because it is dubbed as the Island of Gods with a reason. This place is not only for couples who are craving for romantic getaway but also for family who are looking for bond-strengthening retreat.

Bali Luxury Villas

Recommended private villas featured in Bali Luxury Villas

There are various private, prestigious villas featured at Bali Luxury Villas both from more secluded areas or touristy one. You can customize your holiday by choosing the villa that you really want for ideal holiday in Bali. And here are some of recommended villas for you to book:

  • Hartland Estate Villa is located in Ubud, a more peaceful area in Bali which is more popular amongst visitors who crave from serenity and calmness during their holiday. This villa is nestled near Ayung River and Sayan Ridge. From the center of Ubud, it is only 7 minute drive away. It has three bedrooms which is equipped with extensive garden. The Suites are made from reclaimed teakwood. It also features unique shower with wooden deck overlooking the valley. Another amazing thing about this villa is it offers two dining rooms along with fully functional kitchen. There is also a pool overlooking the river and rice paddies views. For you who like relaxing, you can spend your time in a meditation gazebo spotted further down the hillside.
  • Frangipani Villa is located in Canggu, consisted of four bedrooms. It is nestled in the middle of rice terrace in a small valley. This villa is designed in traditional Balinese style. There are entertaining pavilion, stone swimming pool, as well as garden. The swimming pool is surrounded by frangipani as well as antique stone statue. Situated near a river, this villa offers you spectacular view of its surrounding and the valley. There are also dining and living area, lounge space, media room, and fully functional kitchen. You can also check on your works in the study room nestled at the opposite side of the living room.
  • Capung Villa is situated in Bukit with three bedrooms. It overlooks Jimbaran bay. The location of this villa is a favorite place for surfer. In this villa, you will get to experience the finest of Bali. Only 30 minute drives away from the airport, this villa is surrounded by beautiful lush. Inside the villa is open-air dining and living area, along with kitchen. There are also indoor and outdoor entertainments spaces, infinity edge swimming pool, and a luscious garden. This one of features villas at Bali Luxury Villas offers the best experience during your peaceful retreat in Bali with the best amenities and service.
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Business & Property

The Importance of Reviewing Your Property Manager

Property manager plays important role for your rental property investment. When you decide to invest in rental property, it means you have more works to do. It is not only about finding tenants who can pay the rent on time but also about property investment management in general. When you hire property manager, your burden is reduced to some extent. You don’t have to worry about property maintenance or responding to tenant’s complaints because it will be handled by your property manager. However, you still have to monitor the performance of your property manager. It is important to review their performance periodically to see if your business going well with them being in the frame.

Review property manager to stay in the loop

As you may have known that property market is cyclical, especially in rental sector. There are many elements within that can affect your property investing. Constant and unpredictable changes are real that you have to be prepared for them.

Aside from things happen in the property market, one of the most vital elements is property management. Therefore, it is important to review the performance of your property manager so your business stay in the loop regardless of the situation in property market. There are many things such as regulations, rules, and laws you might not capable of to handle without the help of others. Thus, working on your own will be much more difficult especially when you face the ups and downs. Thus, hiring property manager from the start is a good decision to make. However, you need to make sure that their performance is good and beneficial to your business. You need to do it by reviewing their performance.

Methods of reviewing property manager

There are many ways to review your property manager. You need to establish from the start that your property manager should give you periodic reports about everything happens to your property as well as the tenants. That way, you can see if they provide a good living condition to the tenants. You also can find out if the tenants maintain the property properly from the report.

Aside from reading and analyzing periodic report, you may also need to inspect the property yourself. You can visit your property to check if everything is under control. You cannot just trust property manager blindly because there are those who ensure you that everything is fine but then you end up with a costly surprises.

You need to be active in engaging with your rental property investment. Make sure you know everything about the agreement between you and your tenants such as about the leases. Near the end of the lease, your property manager should seek you out to inform if there is renewal.

If you find yourself keep contacting your property manager to do better at their job, it is a sign that you should let go of them and start the new one who are more professional and reliable. For now, make sure do regular review of your loans and portfolio.

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Business & Property

Why Stay at Canggu Villas for Holiday

There’s so many popular places in Bali when international tourists are flocking in such as Kuta, Legian, Seminyak, and many more. It also includes Canggu, one of the most favorite places in Bali due to its picturesque views. Besides, there’s so many things you can do while staying at one of Canggu villas. Yes, staying at villa while you are in holiday in Bali is more recommended. You will be provided with facilities and amenities in high quality. Besides, villas give you sense of home the most compared to other types of accommodation. Canggu has everything you need for a perfect holiday in Bali. Thus, booking one of the villas is just reasonable.

Canggu Villas

Benefits of staying at Canggu villas

Canggu is popular for many reasons. The most popular reason is the view. It is breathtaking and worth travelling for. From surfing, shopping to enjoying street arts, Canggu is an ideal place to stay for memorable holiday both when you do it solo or in group of friends or families. Here are what you get from choosing to stay at one of villas in Canggu instead of booking a room in hotel or hostel:

  • Canggu is popular but it is not too crowded. There’s still some senses of peace and calmness you can feel if you stay in Canggu. It is even better when you choose to rent a private villa.  Most villas in Bali is designed in artistic architecture which make them look even more stunning to look at. You can imagine how it feels to stay inside. The perfect vibe of exotic holiday can be felt during your stay at the villa.
  • Canggu is also popular for surfing. That’s why this area is flocked mostly by surfers both beginners and professionals. During your stay at the villa, you can attend local surf school. There’s so many of them so you can sign in if you are interested. They are also situated near some villas in Canggu, so you don’t need to go too far to go from your villa to the school.
  • Canggu is a heaven for massage. There’s so many massage house offering the best service for incredible massage in relatively low price. However, most villas in Canggu also provide spas so you don’t have to go anywhere else to get the best massage. You can even request massage therapist to your villa’s manager to come to the villa. This request may require you to pay extra aside from the rent payment at the initial.
  • For food enthusiast, Canggu is your safe haven. Many fine restaurants are scattered around Canggu. Aside from incredible dishes, the price is also affordable. From authentic Indonesian dishes, you can also find restaurants offering dishes in other styles such as Mexican, Chinese, Spanish, and many more. That’s why staying at one of Canggu villas is the right decision for you to make because you can enjoy various foods with high quality. Start your search of the best villa to stay at during your holiday in Bali now.
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Business & Property

Offering the Right Price to Buy an Investment Property

When you are going to by an investment property, it means you will have to deal with the selling agent. However, you also must have known that the price they are quoting is less than what the owner stated. Of course it is not illegal because the selling agent will be paid when the sale is made. Buying an investment property is like playing a game. You need the right strategy to win. In this case, you want to buy the property at the lowest price. Meanwhile, the selling agent also need higher price than what the owner is willing to take because that’s how they can receive their payment. The negotiation process is where you need to be prepared to make the best deal.

Deciding the right price when buying property

Buying a property is not as simple as buying candy in a store. It takes time especially in the negotiation process since both the seller and buyer want to get the best deal. If you are going to buy an investment property, you need to know more about the pricing beforehand. Thus, you will be more prepared. Here are some tips about pricing in buying an investment property:

  • First thing first, do your research especially if you are going to do it on your own not hiring a buyer’s agent. Your research will help you to buy a property that is worth your money. What you need to research is the market price. Try to search similar homes with the one you are going to look at. Thus, you will know the fair idea of the price. You also needs to know more about the asking price and the sale price. The one that you should focus on during negotiation is the sale price. Meanwhile the asking price is usually used as starting point for negotiation.
  • Another important thing about pricing when it comes to buying an investment property is the valuation. It is important because it is what determines the market value. The strategy you can use regarding to the valuation is to do it prior negotiation. Of course, this is not the most idea strategy since not all seller accept this condition. This may take longer time three or four days but it is worth trying if you really want to get the best deal.
  • Aside from doing your own research and doing valuation, you can also ask some questions to the selling agent during negotiation process. You can ask question related to the asking price. You can ask questions regarding to other offers. Try to find out if the selling agent has made other offers or not. This will help you to know if the vendor serious about selling the property. Next question is about the period of property in the market. Try to find out how long has it been there. And of course, you also need to know the reason why the owner wants to sell the property. This will open chance for you to know how desperate the seller is to sell their house.
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