Bali Property: Setting Up Best Rent Prices for Maximised Profit

Setting Up Best Rent Prices for Your Bali Property for Maximised Profit

Calculating rental fees for your Bali property villas is not an easy task. If you price your property too high, you risk attracting guests with high expectations who feel overpriced. If you set your pricing too low, you may not be able to make a profit, and potential clients may question your property’s quality. Low prices are also more likely to attract bargain hunters looking for a good deal, who may end up destroying the establishment. So how should you put the right price for your properties in Bali? Let us assist you in developing the optimum pricing plan for your property.

Set Up the Target Market of Your Bali Property

Going online to prominent vacation lettings websites. Our favourite is this Bali property website, Kibarer, to look at thousands of villas and properties in the island comparable to yours to check out the market. Examine holiday rentals with roughly the same amount of bedrooms and amenities. Keep in mind that you must also evaluate the surrounding neighbourhood. 

Competitor Research 

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Find similar holiday rentals in your region by narrowing your search. Examine homes that have the same amount of bedrooms, baths, and amenities like a garden, private parking, and outdoor seating. This will give you a more realistic idea of how much you can charge – though you should still keep an eye on what your competitors do throughout the year so you can change properly.

Set the Bar of Your Financial Goal from the Bali Property

Most individuals get into the holiday leasing business to supplement their income, so the first thing to think about is how much money you’ll need from your vacation let to support your living expenses (such as cleaning and laundry services, welcome baskets etc.).

Just for the laundry and cleaning, an ordinary 2/3 bedroom villa let will cost roughly IDR 500.000 per week. If you like your 3-bedroom villa’s AC on all the time and have a pool pump to run, expect to pay between IDR 2.5 and 3 million a month. Also consider insurance and upkeep bills in your accounting book. Many owners overlook these expenses, but you can’t afford to ignore them.

Prioritise Your Short and Long Term Goals

Setting up priorities of goals that you want to achieve from the property come next. Now you have rough ideas of how your Bali property villa should cost based on competitor analysis and financial goal. Next, you should be asking yourself on which one that you care the most. Do you want to make profit straightaway or do you want to develop a good reputation among holidaymakers first?

If profit is your primary objective, you may charge your competitors a similar (or even slightly higher) fee. However, if getting your holiday rental up and running with paying visitors giving reviews is your top priority, you might want to go a little lower.

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Discounts Planning 

It’s great to be busy at peak periods, but what about the slow weeks? When individuals are normally too busy working to take a vacation, some of my clients want to provide special offers or discounts to persuade customers to book during off-peak seasons.

If guests are only going to utilize one room, you could try offering a ‘cosy couples’ discount – but keep in mind that the lowered cleaning expenses aren’t that great, so only a 5% or so discount might be fair.

Marketing Mistakes Small Business Owners Should Avoid

Marketing Mistakes Small Business Owners Should Avoid

Just because you made mistakes doesn’t mean you are a total failure in building your business because even seasoned entrepreneurs make mistakes too. Sometimes, things just don’t go as planned. There are many ways you can make mistakes when building business especially in the marketing area. What’s most important is use mistake as positive asset to teach you valuable lessons so you can improve your business.

Mistakes small business owners can avoid

Mistakes are sometimes inevitable because of one thing or another. However, there are also mistakes that can be prevented. It is important to avoid big mistakes that can cost your business  a lot or damaging in long-term. Below are the types of mistakes due to misunderstanding of best marketing practices and you can actually avoid them.

Self-branding without adequate skill

Self-branding without adequate skill

The first mistake is doing branding on your own even though you have no sufficient skill. Marketing your business without  a brand strategy is bound to fail. Branding is essential in marketing and you need to do it with good plan and strategy. It is not only about logo but also about the message you want to deliver. If you don’t understand how to do it well, do not hesitate to bring in an expert. 

Treating everyone as your potential customers

While it is good to be hopeful and positive, a mindset like that won’t get you anywhere. What you offer might not be suitable for everyone. Hence, it is important to decide who your target customers to market to. Be more specific with who you want your brand to be recognized by and it will help your brand to standout. Be unique and and relevant by crafting your message specifically for one niche segment of the marketplace.

Making broad assumptions about customers

Everything that is based on assumption often ends bad. Keep in mind that you are not your customers so making decision based on what you assume of them will do no good for your business. The result will be disappointing. Rely more on data and research to support your ideas. It is highly likely that you have different perspective with your customers. So make sure not to assume you know them well if you don’t. 

Not calculating the initial marketing thoroughly

Being all out from the initial marketing campaign to get the spark. This is marketing mistake you should avoid because investing too much money at the start of your campaign is too risky. If it fails, it costs a lot. Excess waste will be what you get. Instead, get to know who your audience first then decide what kind of campaign that work best. Slowly, you will get more data about your audience and what platform that work best for your marketing campaign. 

It is common sense to avoid the mistakes above. However, there are still many entrepreneurs and small business owners alike who still make those mistakes. Build your network with marketing experts and balance the advice you get with your knowledge of the marketplace, experience, trends, etc. 

Transitioning Office Work Environment To Remote Work

While many businesses are starting to prepare themselves to return to work at the office, there are also some who consider the opposite. Some businesses consider permanent remote work after finding the efficiency of remote work to their business force. If it is also your plan for this year, you may have to start with the preparation. This is such a big decision. It is just as big as your preparation to return to office work. 

How to seamlessly transfer your team to work remotely

With various vaccines that are being approved, there is hope for many business to return to their office. Meanwhile, some others plan to continue with their remote work environment. However, transferring your company to remote work permanently is not something easy to deliver. Here are things to consider to do so successfully.

Transitioning Office Work Environment To Remote Work

Ask for Feedback

First thing first, it is a must to ask for feedback and opinion from the members of the board before deicing to permanently change your business operation into remote work. Also, you need to know whether or not your employees agree to this decision. It is possible for a split to happen. Some employees may wish to stay working from while the others are craving to return to the office. Make sure that everyone is informed when the decision is made. 

Make Sure Everyone Knows

Also, make sure that everyone in your company knows why you make such decision. Give them reasons why it is more beneficial for everyone to work remotely. After making sure that everyone is on the same page, you need to provide the right facilities or tools to help your team working seamlessly from home. For example, load your team with required access, software, and hardware. This way, your team can corporate network and database seamlessly. 

Scheduling is Important

Scheduling is Important

Create a schedule that allow workforce to flow smoothly. One of the biggest challenges of remote work is scheduling and maintaining established communication. Hence, make sure that the schedule planned contained all obligatory planning meetings be it daily, weekly, or monthly. You have to ensure that the schedule set the time for regular reporting on the progress. It may sound a lot of work but it is essential for smooth remote work. 

Find the Right Software to Support Remote Work

Remote work is possible because the advance of technology. Many modern software for business makes remote work runs easier for employees as well as business owners. Hence, it is important to provide the right tools for your employees be it for individual, collaborative, or management works. The tools should be trusted and reliable to ensure the management and communication run seamlessly. 

Anticipate the Risks

Anticipate possible mistakes and challenges of permanent remote work. You might have learned few things after experiencing remote work in your organization. You can identify possible mistakes and how they can affect your remote workforce. This way, you can start planning for the right solutions to prevent and deal with those possible mistakes. Technical problem can be varied from time to time during remote work. Make sure you have the solutions for them in advance instead of waiting until they happen. 

How To Know If Difficult Times Are Affecting Your Team Productivity Negatively

How To Know If Difficult Times Are Affecting Your Team Productivity Negatively

Right now, times are tough for everyone but not all of them will come out to admit they they are struggling. It may happen to your team as well. Surely this difficult period has affected every individual differently. However, some of them are not willing to just come out and tell they have difficult times adjusting to the situation or dealing with their problems. The cause can be pride, or anything on personal level. 

Signs to spot in your team productivity

When your team are affected by difficult times, there are signs you can spots. It is better to notice the signs so you can provide solutions to help your team’s well being and productivity. Here are some of the most common signs to spot:

Unable to concentrate on their work

When your team are affected greatly by something, more problems come and it will be harder for them to stay focused on their tasks. The sign can be in more frequent breaks or dip in output. Also, different department may show different signs. For example, production teams keep lagging on meeting deadlines. Or customer service department has their declining calls increased. 

Tardiness

Tardiness

When your team members are experiencing problems outside of work their tardiness tend to show even more. They are late coming at work, or trying to get home as early as possible. Even the small mishaps at work can make them feel disengaged more, making them unable to be on time in many things related to their responsibilities. 

When team members are affected

Quality of work decreasing is also a sign of when your team members are affected greatly by difficult times. It can be some missing details that keep increasing, or submitting works that are not what have been required during the previous meetings. This sign is usually more visible in content creation team because you can see any differences and changes of their quality work. 

Withdrawing from any social engagement

Regardless of how stiff or tight a workplace is, social element will always be there. Many social activities can bring your team closer even simply from sharing talk during lunch or in the pantry. Team members who are having difficult times tend to avoid any social events both at work or outside. 

Consistent needs for approval

Keep asking for approval could be a sign that your team members’ confidence have been affected by difficult times they are experiencing. The need of constant reassurance is being asked to make them through the day. They tend to have more uncertainties in making decisions as well. 

Do not judge too quickly

The best thing you can do as team leader when spotting these signs is to not judge too quickly. Avoid second-guessing yourself or assuming things. Try to be as supportive as you can and provide help they may need from you. If they truly need extra hours, give them. Then, try to motivate your team in a positive and encouraging manner so they can get back on track. 

Differentiating Your Ideas To Have Higher Survival Chance

Differentiating Your Ideas To Have Higher Survival Chance

When it comes to business, the competition can be so tough that it can make you feel disheartened sometimes to keep going. It is also often to feel useless when the problem you are solving with your company already has a solution. It can be hard to compete with similar ideas. Business environment has diversified so it is important to develop similar ideas but standing out from the rest of your competition. 

How to differentiate your ideas when growing your business

Your business need to stand out to be more memorable in the mind of customers. Only then you will have higher chance than others to survive and expand. You can differentiate your ideas when competing in the same space. Setting yourself apart from the rest of your industry is not impossible to do. And here are some tips to do it well:

Investing in your customer support

It means, you need to improve your customer experience by providing excellent customer service from the moment your customers sign up. If you cannot afford to provide more service, go for small things. Sometimes those small details in customer service are the ones that are mostly forgotten by other businesses to pay attention to. Hence, you can take advantage of the situation by providing more detailed, personalized customer service. 

Good brand story

Good brand story

Create good brand story that shows your customers more personal touch. People love listening to something that is more authentic, personal, and genuine. It attracts more empathy from customers if you create personal brand story that is not only interesting but also inspiring, and motivating. A simple story will draw more attention if it is captivating and resonates well with the audiences. 

Be more specific with your product offering

Instead of trying to offer your product to everyone, narrow down your target market to the more specific area. You don’t have to keep adding more products or service just to fit everyone. Instead, focus on one specific target market and remove any other thing that won’t bring you benefits. 

Build and develop your authority

You can build authority by creating online presence such as blogging, vlogging, podcasting, using social media, and many more. Through your online platform, you can share information based on your expertise and experience. This will attract more audience to put their trust on you. This thing helps you a lot in setting you apart from the rest since you are ready to be the source of reliable information. 

Building credibility

Build your credibility as a way to stand out from the rest of your competition. Trust is the key when it comes to building credibility. Through trust, you will be able to build more loyal customer base who are there for a long time. You can build credibility through honest messaging with a touch of sincerity and care. Do not be afraid to show off your unique brand personality. Being different is not bad in business. It can be a huge factor to make you stand out from the crowd. 

Marketing Strategies To Boost Your Online Sales

Marketing Strategies To Boost Your Online Sales

Attracting customer can be done in various marketing strategies. As of today, people are staying at home due to the situation with covid-19. Many of them turn into online shoppers. There is high potential for you to make them into loyal customers. You will need to plan fundamental strategies as well as marketing approaches to gain the benefit of this trend. You can boost your online sales and build loyal customer base. 

How to boost your online sales

Every entrepreneur and business owner has different marketing strategies. However, it is not recommended to just follow the strategies other find useful because it might not be suitable for your brand. Instead, it is best to plan marketing strategies that can boost your online sales and fit your goal to build loyalty to your brand. 

Understand your target customers

Know your brand values

Learn everything about your target customers. As you are planning to attract customer online, you need to choose proper method to understand them more. You cannot go face-to-face due to the situation but you can still proactively get to know them. You can use analytic tools in your online store as well as POS system so you can identify any purchasing patterns and preferences. You can generate useful data from email, online chat, or phone calls. 

Find out how they found you

You also have to find out how your customer find your store online. Analytic tools can be used to find out the information more accurately. If your customers find your stores through online articles, you need to write more articles that is relevant and related to your products. Make sure the content is relevant not only to your products but also to the topic your customers find the most interesting and useful. If online shoppers find your store through social media feeds, you need to post interesting contents with relevant topic as well in your social media platform. 

Know your brand values

Understand your target customers

Find something that your brand can offer and the others can’t. you can build your personal brand through the behind story of your brand. You can share it through online platforms so more people are more aware. Make sure to highlight what makes your brand different so you have unique selling propositions to gain more customers online. 

Engaging contents

Create engaging quality contents. Your online store can be not only a place for shopping but also where informative contents can be found by your customers. Make sure that the topic of your content is relevant to your target customers. Also, post content on regular basis so your visibility on search engine will be more consistent. 

Improve customer experience

For example, make shopping experience as accessible as possible. Keep in mind that improving customer experience doesn’t mean adding something complex. In fact, you need to simplify it. Make sure that customers can find what they need as easy as possible. Make sure the process of finding and buying items in your online store is not something that give your customer horrible experience. Find something that needs to be fix to improve your online store such as search feature, checkout, navigation, etc.

Removing Clutters To Improve Your Performances In Running Business

Working daily to run your business can be very tiring especially when there are clutters here and there that keep disturbing you from focusing. It can be cluttered space you are using to do your work. Too many items placed unorganized can disturb your sleep as well as performance in finishing your task. Especially with how work from home is implemented. However, cluttered space is not the only thing that can disturb your performance in running your business. There are other clutters you need to deal with just as urgently. 

Business Performance

Remove clutters to improve your business operations

You are dealing with more stress and anxiety do to the uncertainty happening now. If you cannot take real actions to remove those clutters, it is possible for you to ruin your business operations. Being focus on what’s important is essential in running business. So here are things you can do to remove or at least minimize disturbing clutters:

Try to reduce the frequency of virtual meetings that involve too many people in it. This can be an effective way to hold successful meeting because too many people can also mean too many unnecessary noise. If it is possible, you can split the virtual meeting into smaller groups to help increase the result and remove unnecessary clutter. You can also conduct a one-on-one connection with your team members when needed instead of calling all members at the same time. 

Reevaluate the groups you are a part of as a way for you to more get more focused networking. Being part of so many groups doesn’t guarantee successful networking. Your feeds and inbox might be clogged if you join too many group even if your intention is to extend your network for your business. Thus, it is better to choose groups that provide useful connections and exciting projects. Remove groups that only provide unnecessary noise. To decide which group to be a part of, you can look back to your experiences in the past. Which one of them have netted you new clients and interesting projects?

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Simplifying your workload can be a form of removing disturbing clutters as well. It is often that you feel like you are so busy with too many tasks at hand while the time is so limited. However, it can be because you are busy dealing with small tasks that can actually be automated just fine. Try more effective ways for you to organize your work day. If there are tasks that can be dealt perfectly fine with automation then why not. Keep in mind that technology is there to innovate and revolutionize. So make the best of it. 

Go paperless if possible to help you more focus when working. Papers scattered here and there can be very disturbing. You can save files in digital spaces on your computer where you can access them anytime needed. You can also organize your workspace and choose comfortable furniture to support you such as replace old, ratty chair that give you back pain.

Find the Best Villa Agency in Bali For You

The Villa Agency in Bali currently booming in real estate industry. As Indonesia is now witnessing uprising growth within property niche due to the major reform. Furthermore this sector is looking at a big momentum and apart of gigantic real estate investors. No doubt that the market surges in upcoming months to years.

Villa Agency in Bali

The stakeholder and investors strongly determine this as an investment portfolio. They have study a lot and forecast all the possibility that could happen in Bali property. Thats why, in this conducive environment, Villa Agency in Bali stand tall to bridge these all interest.

Villa agency in Bali roles to advocate when buying, selling, and villa for sale bali. In addition, meaning that the agent has to cover your interest whenever you are in situation of real estate transaction. However, due to the fact of most laws in the region that could be trick or bypass by the player, some agent currently working hard to maintain a transparent deals for their client.

So lets get through the guide on finding a trusted agency in Bali:

Expertise of Villa Agency in Bali

A agency employs the services of professional agents which specialize in real estate niche. For instance, whenever you seek to sell a plot in Bali, then the agency which located nearby will have a good knowledge of the market and plot price in there.These bunch experts are well learned about the emerging market. They can provide you a clear and realistic assessment of the plot or unit. After you employ the agency service, you could leave the rest to them to get your unit sold base on current market index.

Exceptional on Negotiation

The stakeholder in real estate are master in price negotiation. Once they employed by you to find your demand, then villa agency in bali will help you to negotiate on behalf. Whatever the cases is, from selling, buying, or leasing property, your agent will guide you through negotiating. Since they are known as the market experts, they tend to do a successful bargains with others for your enquiry.

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Aware of Legal Paper and Documentation

Most agents have a great grasp on documentation needed for any deal in properties. The most vital indicator of real estate transactions is the document verification. Thus , if you have hired your best agency, you should not worry about any legal or documentation. It will be their responsibility to prepare any documentation and its legal standing on your behalf.

Villa Agency in Bali

These are useful guide to find the best villa agency in Bali. You should keep in mind whenever you seek for property for sale, consider to reach out to trusted agency to help you. In case you need few mention to your list, we recommend you to reach www.villabalisale[.]com .  Its the best agency with great reputation and trusted for hundreds of its client. They could also provide you a complete guidance and enquiry for villa for sale.

Impact of the global economy due to the Corona virus

Impact of the global economy due to the Corona virus

China has decided to close its economic path to stop the spread of the epidemic of the corona virus (covid-19). As the country of origin of the plague, the Chinese economy will of course be devastated. The problem is that China is a country with the second largest economic power in the world. They represent almost a third of global economic growth. In other words, if they were hit, it would have a domino effect. Namely, other countries will also be devastated and could be more serious. So, no need to be surprised if the New York Times classroom media published an article titled “China Shuts Down Economic Activities to Fight Corona Virus”. Now the world is suffering “.

As the country with the second largest economic power in the world, even the largest population in the world, China holds the economic role of many countries, mainly in tourism. In the AfDB’s notes, the five countries with the most tourist visits from China in 2018 are Hong Kong (68% of tourists come from China), Palau (39%), Cambodia (33%), Vietnam (32%) and South Korea (South Korea) 31%).

Brief analysis on Tourism Impact

With these notes, the AfDB also established four scenarios of economic influence on the tourism side. First, if tourism in China is closed 2 months (best case scenario), then 3 months (moderate), 6 months (bad) and more than 6 months (worst).

Brief analysis on Tourism Impact

Best case scenario: Tourism from outside Asia to non-Chinese Asian countries, such as East or Southeast Asia, will decline in the same way as during SARS, around 7.7 %.

Moderate scenario: Tourism from outside Asia to non-Chinese Asian countries, such as East or Southeast Asia, will decline by around 17.7%.

Bad and worst-case scenario: Tourism from outside Asia to non-Chinese Asian countries, such as East or Southeast Asia, will drop by 47.7%.

Impact of overall losses

According to AfDB calculations, the global impact of the corona virus will be between 77 and 347 billion US dollars. This figure is equivalent to 0.1% to 0.4% of global GDP. In the same scenario, on a global scale, the potential loss of the world economy reaches 155 billion dollars and China alone, 103 billion dollars. It is in a moderate scenario. If the scenario is bad, on a global scale the potential loss of the world reaches $ 346 billion. The figure comes from the potential loss of China (US $ 236 billion), non-Chinese Asian countries (US $ 42 billion) and the rest of other countries (US $ 68 billion).

The global losses incurred due to the corona virus are indeed devastating as a result, how a country could collapse because of this corona virus. How does the world overcome exactly that? Let us all pray that this virus disappears quickly and that no victims fall because of this virus

The Idea Of Self-Coaching For Entrepreneurs

Many entrepreneurs including the seasoned ones have claimed that having a business coach is very beneficial for themselves and their business. Business coach is like your facilitator with the right skills, tools, and method to guide you. The coaching industry within this past few years has increased significantly. It means that many people find it helpful to have a business coach. However, have you ever considered coaching yourself instead? Will it be helpful just like hiring professional business coach?

Entrepreneurs

Self-coaching and successful business

Many professional business coaches have recommended that while you hiring a professional, it is good if you can coach yourself as well. They suggest their clients to continue the process of self-reflection outside of your sessions. It allows you to improve and grow yourself because you add another dimensions to help you achieve your goals. 

Here are what you can do if you are interested in self-coaching:

Have a courage to make a deep conversation with yourself. It is not something crazy. Actually, you have been used to do it but maybe you are not really aware. Now, you can try to make a conversation with yourself consciously. The conversation allows you to make your own review of your own performances. 

You will also be able to address the issues you have. In this type of conversation, you have to be brave enough to ask yourself if the real problems is you and what solution is best to take. It sounds simple but not many people are courageous enough to face and overcome their own personal challenges and barriers. 

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Then, you can also try to challenges yourself to see and review your projection. Keep in mind that when you hire a business coach, it is often for you to share opinions. Sometimes, it clashes because you see from different perspectives. However, you learn something from that. Now, you try to make conversation with yourself and challenge how you interpret your internal and external world through variety of perceptions. This way, you will be able to spot something wrong. 

Be courageous to admit your own mistakes started to yourself. It is easy to blame mistakes to others. However, it is not the right norm because it is unhealthy and unhelpful. Remember self-coaching is far different from self-loathing or self-blaming. It is about how you can admit to yourself if you make mistakes and how to turn them into learning opportunities. Therefore, you can make objective judgment and analysis to fix the problems. Through self-coaching, you learn how to be more insightful, mindful, and authentic. 

Focus on the right challenges or problems so you can stay focused in your self-coaching. It allows you to navigate your energy into finding what is exactly going on. It also allows you to find more clarity on small-scale-issues. This results in increasing your self-awareness so you will find the right questions. Then, you will ultimately find the right answers and solutions. Self-coaching needs self-acceptance to be successful so you grow to become more conscious, mindful, aware, and insightful.