What You Need to Know About Small Business Owners And Entrepreneurs Of This Generation

What to know more about this generation’s small business owners and entrepreneurs

Small business community today is getting bigger and its growth can be seen from the increased number of people that turn into small business owners and entrepreneurs. There are many reasons why people choose this path. For example, they want to build their own financial freedom where they can create their own revenue instead of relying solely on their salary. Also, the access is wider now with how technology has improved a lot. 

What to know more about this generation’s small business owners and entrepreneurs

Many people say that to become an entrepreneur or small business owner is so easy. However, the reality is not like that at all especially because you have to start from zero. Even though the access is easy, the competition becomes tough as well.  Here are things you need to know more about small business owners and entrepreneurs of this generation:

Entrepreneurs are not going anywhere

What You Need to Know About Small Business Owners And Entrepreneurs Of This Generation

It means entrepreneurs and small business owners are only getting started. The challenges given by the global pandemic last year doesn’t make entrepreneurs and small business owners disappear from the industry. Small business community keeps thriving with the growth of more ambitious sole proprietors, pre-revenue startups, as well as self-funded shops. 

Small business owners and entrepreneurs come from all backgrounds

It is wrong to generalize small business owners and entrepreneurs based on one single background because in fact, they come from all backgrounds. Today, you can see people from different cultures are also in small business community. It means that small business and entrepreneurship belong to everyone who are willing to build their own success. Hence, it doesn’t matter what they come from because they share the same entrepreneurial goals. 

Small business owners and entrepreneurs are self-reliant

It is true that this generation’s small business owners and entrepreneurs are mostly self-funded, self-driven, as well as self-sustaining. In the U.S alone, almost 90 percent of small businesses are sole proprietors or have at least 20 full-time employees. Instead of waiting for help from others, they prefer taking action themselves to move forward. 

This generation’s doers are optimistic

Despite the global pandemic that hit 2020, 80 percent of small business owners and entrepreneurs believe that owning their business still outweigh the challenges the pandemic gave. They have put high hope for brighter future in 2021 with how vaccination is already started and global economy is predicted to recover soon. 

This generation’s doers have their own way to success

It is true that this generation’s doers are more creative in finding their own best strategies and plans to improve efficiencies. They are more bold to take out of the box ideas into reality to make sure they can reach their entrepreneurial goals. They have big picture in their vision of the future. They reimagine small frames altogether to create innovation that is beyond the board. Being part of small business community and surrounded yourself with driven, self-reliant people will have positive impact on you. 

Scuba Diving Shark in Bali Adventure: Dos & Don’ts!

Adventure Scuba Diving in Bali: Dive with Sharks Dos & Don’ts!

Scuba diving in Bali offers countless amazing underwater adventures, and shark encounters is just one of the favourites. In Bali, you may see three types of reef sharks: blacktip, whitetip, and grey reef sharks. Each species of reef shark has its own distinct personality and behavior, and we will provide a quick advice on what to do and what not to do while encountering them. The remote Gili Biaha is renown for sharks diving. We have two excellent dive sites to select from when diving on Gili Biaha. Shark Cave and Biaha Slope are the names of two outstanding diving locations. Normally, these two dive sites are merged into a single dive, but only if the currents let it. Going down, the shark cave is around 12 meters deep. It’s a very exciting dives for the advanced, but there are certain rules you need to adhere during scuba diving adventure with sharks in Bali. 

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What You Should Do during Scuba Diving Shark Adventure in Bali 

Expect Nothing during Scuba Diving Adventure with Shark in Bali 

It’s critical to realize that every shark encounter is unique. The fact that numerous individuals have calmly watched a procession of sharks swim past at a certain spot does not guarantee that you will have the same experience.

Touching the Shark

Dress Like the Enemy of Sharks

Different people have different ideas about which colors are most likely to catch a shark’s interest. Every possible color combination has been explored at some point in an attempt to discourage shark attacks. Even broad black and white stripes have been attempted in an attempt to mimic the appearance of a banded sea serpent, which is shunned by the majority of shark species.

Wear Dark Gloves with No Stripes

There is nothing more enticing to a shark than two tiny lily white “fish” fluttering around in front of them. If you don’t have gloves, keep your arms crossed over your chest. Swimming with your hands is a recipe for disaster.

Dive in Groups

When you plan for scuba diving adventure with sharks in Bali, always plan to dive in a group. Sharks will generally attack a lone diver, like how they attack their prey. When you dive in pack, sharks will less likely to see you as potential prey. 

Swim Close to the Reef

Never swim so far away from the reef that you can’t immediately return to it – don’t let yourself go too far away from the reef and into open water. If you are washed off a reef into deep water, you may need to be rescued fast, therefore always carry a bright orang safety flag or tube with you when you are in the sea.

Don’ts of Scuba Diving Shark Adventure in Bali

Dress Like Prey Fish 

Tropical sharks are primarily fish eaters and, as such, are drawn to bright and flashy items. As a result, it would seem reasonable that a bright yellow wetsuit would attract the attention of hungry sharks. In shark diving circles, bright yellow is known as “yum yum yellow.” Other bright colors may have the same effect. So if you’re going to be in the vicinity of tropical fish devouring sharks on a daily basis, it would be a good idea to go with a more subdued hue or black.

Wear Bright Fins

What You Should Do during Scuba Diving Shark Adventure in Bali

Fins are another popular prey. Dive manufacturers have recently pushed for brighter and more complex fins. Some businesses even offer fins with fish-tail forms on the ends. While this could help you swim more effectively, it also appears as delicious snack for the sharks. Simple fins will enough, and avoid purchasing white ones unless you want to show off your teeth marks to your buddies after the dive. The lesson of the tale is to attempt to tone it down if it twitches, wiggles, or rattles.

Touching the Shark

Grabbing a shark by the tail or any other part of its anatomy is the greatest method to get bitten. You might not believe it, but a startling number of shark bites are the direct result of divers attempting to manhandle apparently placid sharks.

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Fast Movements

It is well known that sharks have electrical sense. A row of microscopic hairs in an elevated canal running laterally over their flanks is one of the subtle ways they perceive their surroundings. The shark’s delicate hairs detect minute motions in its surroundings. The more sudden the movement, the more probable it is that they will explore. Use calm, rhythmic fin strokes unless you want to be scrutinized. It’s also vital to have good buoyancy. Crashing into the reef or trying to remain down may provoke aggressiveness, or it may have the opposite effect and scare away a shark that you were hoping would hang around.

Supporting Flexibility And Functionality Of Working From Anywhere

After the pandemic, remote work has been used as an alternative for people to keep working without jeopardizing their safety and health. There are benefits of remote work but the disadvantages are there as well. Today, with how the pandemic in on the work of being contained through various methods, many entrepreneurs hope for a better year. In fact, some companies around the world have started to assign their employees to return to the office. What about those who implement hybrid work or permanent work? Can you also do the same?

Supporting Flexibility And Functionality Of Working From Anywhere

The importance of supporting flexibility of working from anywhere

It is possible that you implement permanent remote work or hybrid. The problem is, not all leaders trust their employees to work from anywhere outside the office. Many argue that working in the office is more efficient. However, you can still create great result of hybrid or remote work if you support flexibility and functionality to your employees for working from anywhere. And how you get started? Here are some useful tips to consider to implement great support of flexibility of working from anywhere:

Remember that you don’t have all the answer

Even if you force your employees to work from the office, there is no guarantee that you have all the answer needed for every question arise during running business operation. Hence, it is essential to get comfortable operating without playbook. What you can do to create a new operating model is by following the build, measuring, and learning the method. However, it could take years so it is vital to have that kind of support for flexibility and functionality. It is also a must that you create a space for open dialogue among stakeholders to collect valuable data that help drive decision to the right impact for everyone. 

Keep in mind that everything is evolving, including the solutions to support remote workers

Spontaneous interaction often generate some of the best ideas. However, there are many types of interactions and you don’t have to be face to face to have it. Remote work today is more possible and manageable because of advanced technology. Not to mention that technology never stops evolving. Even if you cannot find a solution for today, it will come up tomorrow because technology will keep getting better at alleviating pitfalls of distributed works. You still have the opportunity to grow the most valuable company with different working method. 

Provide your people with the right tools

Investing in your people is vital as a form of giving support so they can do their best. No mater when or where they choose to work, provide them with the right software, hardware, and services that facilitate more seamless solutions. Also, you can invest in your people in the form of training them on virtual human interaction to keep the communication efficient. Communication is vital especially in hybrid model. To make remote work runs smoothly, your employees need to develop new skills related to virtual human interaction and good communication. 

You Will Love Staying in Canggu Bali Villas and This is Why

You Will Love Staying in Canggu Bali Villas and This is Why

Canggu hasn’t been on the tourist map for long, but it’s quickly becoming a popular destination for those searching for an alternative to Legian and Seminyak that’s still near to the beach but not as cool as Ubud. Canggu, Bali’s hippest hotspot, is especially popular with digital nomads and expats, as evidenced by the many sophisticated villas springing up among the beautiful green rice fields and a slew of new cafés founded by foreigners. Canggu has been dubbed the “New Seminyak” by some. Canggu has a distinct hipster atmosphere about it, as well as certain endearing traits. And it’s quickly becoming a full-fledged Bali tourist attraction. Canggu offers it all: Seminyak’s stylish cafés, Ubud’s wealth of good food, Bali’s hinterland verdant paddy fields, and long stretches of beach as far as the eye can see. Try live in Canggu Bali villas for a week and you’ll surely enjoy the experience. This is why.

Living the Ultimate Villas Life Experience in Canggu Bali 

The ultimate fantasy of living in Bali is to be able to afford the villa lifestyle you’ve always desired. Waking up seeing the garden, plunging to the pool during the hot days, and escaping to the beach for sunset and waves in the afternoon. That’s a life that villas in Bali can give to you. 

These days, prices of villas are rising as a result of a growing number of foreigners desiring the same item. Furthermore, landlords are getting more demanding and choosy, requiring full payment on Day 1 or renting it out to someone who is willing to do so. On the plus side, you have a very wide selection of Canggu Bali villas to choose! Villas are all over the place in terms of what they have to offer, how they’re run, and what happens after the lights go out!

Heavenly Delicious Vegan Restaurants — Even When You’re Not Vegan!

Heavenly Delicious Vegan Restaurants — Even When You’re Not Vegan!

Canggu is known for its nutritious and delicious cuisine, which can be found at a variety of restaurants and cafes. You can dine quite good for a very low price here. There are numerous cafes and restaurants to choose from, none of which will disappoint. Healthy salads, delectable smoothie bowls, excellent coffee, and a wide range of cuisines — Italian, Thai, Japanese, Mexican, and more! The cafes in Bali Canggu, especially for breakfast brunch, are a dream. Many vegetarian and vegan eateries are also available. Non-vegans are flocking to some of these cafés and restaurants, amazed at how tasty vegan food can be.

Very Affordable Living Costs 

You can travel and live relatively cheaply in Canggu — and Bali in general. It is entirely up to you how much money you spend in the end. If you want to save money compared to Europe, stay outside of Canggu and away from the beach, and eat primarily in Indonesian restaurants. As a result, you will be able to live in Bali on a shoestring budget.

If you want to spend a little more, there are no boundaries, and you can have a wonderful room in a guest house or a shared villa with pool and cleaning service for (relatively) little money.

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Reliable and Fast Internet Especially for the Digital Nomads 

A fast and stable internet connection is critical for the many Digital Nomads in Canggu, Bali. In comparison to other parts of Asia, the internet connection in Bali is excellent. There is good Wi-Fi in practically every café and restaurant, and many people sit for hours at their favorite cafés and work from there.

The Digital Nomad Living from Canggu Bali Villas or Co-working Space

Digital nomad is big in Canggu—it’s even associated with that. Many tourists you see in Canggu are actually remote professionals. The villa lifestyle allows you to be both productive and enjoying your wonderful Canggu Bali villa at the same time. All you need is a weekly routine and the determination to stick to it. Basically, don’t plan too much and don’t get too comfortable; the idea is to discover that sweet pot.

How Should Business Leaders View Their Employees As?

Most employees spend their life at work. Sometimes, they feel closer to the people they work with than their own family due to the frequency of interacting with each other. Workplace culture is one of the most important keys to success for any business. Your organization will reach success more smoothly if you have great culture workplace filled with solid teamwork of your team. As a business leader, how should you view your employees? As a family or sport team?which is better?

How Should Business Leaders View Their Employees As

Understanding both views first

Before drawing conclusion of which better to view your employees is, it is important to understand both comparison first. Firstly, family is is precious part of your life and driven by emotions, primal instinct, and filial bonds. When you consider an ‘outsider’ your family, it means you put a high level of trust, loyalty, and reliance mutually reciprocated and fulfilling. What you can call family is a circle knit together through mutual tradition, support, attachment, and acceptance. When you view your employees as family, it could be a viable proposition in some scenarios. 

Meanwhile, a professional sport game analogy can be seen in professional setting like business industry. In a successful sport team, we see well-oiled machines with power structure, tactics, elaborate plans, and clear goals. Those elements are built by relationship and trust. Some sport teams call themselves family due to the bond they have built together along the way. In business industry, a good sport team can also result in successful achievement because everyone is so attuned with each other, knowing each other strength and weakness, and complete each other. 

Nurturing bonds with employees

Whether you view your employees as family or sport teams, the most important factor to pay attention to is how you can nurture the bonds with them in a healthy, positive way. As a business leader, you need to keep reminding yourself that the success you have been able to reached so far is a result of incredible work by your employees. As the leader, give your employees a vision to build something to reach the goals. Give them platform to put their best without fear, allowing them to experiment and accomplish in their own way. Those processes are what to build strong bonds especially when you nurture it with trust, loyalty, appreciation, and respect. 

Does label truly matter?

As mentioned earlier that workplace culture is the big asset you need to establish as good as possible to be rewarding for everyone in your company. It is where you and your employees grow and thrive together through healthy bond. Calling your employees as your family doesn’t really matter especially when they have been working with you for years. Every employee may be driven by different factors to motivate them such as loyalty, professional pride, or even money. What you can do as a leader is to cultivate all those various motivating factors and build the team ethos to pull everyone together in the same direction and deliver success. 

You’ll Love Staying at A Villa in Ubud and This is Why

You’ll Love Staying at A Villa in Ubud and This is Why

There’s always something so relaxing and magical about Ubud. This beautiful small town is located in Balis highland, surrounded by sacred forests and ancient temples, and has long been the centres of arts and culture since the old times. The relaxed atmosphere of this beautiful small town make it perfect for a place to rest and rejuvenate tired souls. It offers a wide range of activities, including traditional dancing acts, cultural performances, and celebrations of Hindu holidays and festivals, as well as yoga and cookery classes. With so many things to do, staying in a villa in Ubud will be nice—and here’s how you’ll love every second of it.

Strolling and Shopping in Ubud Art Market

The Ubud Art Market is a terrific area to take a stroll and is conveniently located in the heart of the city. The sellers are busiest in the morning and during the day’s peak hours. Around dusk, they begin to close down. There are shops all along Ubud’s main streets, in addition to the art market. Handcrafted wood figurines, rattan purses, and apparel items are popular souvenirs. Due to the high concentration of tourists, prices in Ubud are slightly higher than elsewhere on the island. Credit cards are accepted in a few of the brick and mortar stores, but case is preferred. Negotiate as needed.

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Life in Villa Ubud, Surrounded by Rice Fields and Forests

Life in Villa Ubud Surrounded by Rice Fields and Forests

Away from strips of white golden sands and lapping waves, here’s life consist of rice paddies, tropical forests, and temples. You will love staying in a villa Ubud and wake up with a tranquil view of vast rice paddies spread from the terrace. Imagine hearing roosters crowing in the morning, hearing pigs squeal, and watching ducks walk through rice fields. Here in Ubud, you will live in a Balinese community. People are living side by side with the nature. Sometimes you will be visited by curious wild animals like squirrels or even monkeys. Be careful, though, because living side by side with the nature means dangerous animals like snake could also pay a visit to your villa!

The Calm and Serene Atmosphere of Living in Villa Ubud

The Calm and Serene Atmosphere of Living in Villa Ubud

You will love spending slow days in a villa Ubud. Various medical research have shown that living in large cities increases stress levels and, as a result, lowers quality of life and health. The greatest remedy for this type of situation is to find a quiet location to rest. As a result, modern villas are the ideal escape from the city’s difficulties. The tranquillity of a modern villa will improve your quality of life, and because most villas are part of a closed community, you will enjoy a lot more private life.

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A Perfect Mix of East and West

One of the reasons why people (and you, eventually!) loves Ubud is that this little town provides the ideal balance of East and West. You will get to see the amazing culture and natural beauty that Bali has to offer, but you will also have our own veggie restaurants and other creature amenities. Ubud is well-known for having some of Bali’s finest restaurants. It’s home to two of Indonesia’s most prestigious fine-dining establishments, as well as Bali’s most famous babi guling warung. This intriguing neighborhood has it all (cocktails included!) for any budget or foodie whim, from gourmet to gastro, vegan to carnivorous. One can easily have Mediterranean breakfast, followed by Mexican lunch, and close the nice evening with crispy Balinese duck!

Private Yoga Room

It’s not a secret that Ubud has long been recognised as a Yogi’s dream. Along with celebrated vegan cultures and conscious living, yoga is an inseparable part of Ubud life. This little town is brimming with yoga studios and classes for all levels and different types of yoga. With that in mind, it’s not difficult to find a villa in Ubud that have their own yoga studio! There’s nothing like a little zen to help you relax while on the road. Some villas feature beautiful yoga shalas that are perfect for a private yoga lesson or hosting a Bali retreat.

Establish Mental Discipline To Navigate Business Challenges

In business, having a strong mindset is not the only thing that matters. It is important for you to be able to be brave and more decisive in making decision, or solve problem. However, there is also mental discipline you need to build so you can navigate business challenges the right way. It is not easy to establish mental discipline as every individual may have different tendencies and characters. For examples, some people tend to find goodness in everything. Meanwhile, some others like to victimizing themselves when bad situation occur to them. 

What you need to do to build your mental discipline

Mental discipline is also about how you acknowledge of how deserving you are to have what you want because of how hard you have worked for it while turning your mind away from ‘self-victimizing’ thoughts. You can practice your mental discipline in both entrepreneurship and relationship. Both are crucial and intertwined with each other. It is essential for you to know how to disengage bad narratives and control and manipulate them into something joyful and fulfilling for you. 

To practice mental discipline, you need to choose to stay present int he situations you encounter even if they are not ideal. This is to allow you perceive and experience magic and synchronicity. By choosing to stay present, you stop yourself from doing unnecessary thing such as fighting in denials or arguing with reality which doesn’t generate any good result but mental exhaustion. However, it is also important to know that practicing mental discipline is not an attempt to make you good at pretending to ignore what is happening both in your personal life and business life. 

When you are facing non-ideal situation, what you need to do instead of complaining is ask yourself what quality you can develop to face the situation. Focus more on what you want to be in the situation and let it guide you through actions. it allows you time to reflect in yourself instead of haphazardly trying to fix the problem or bemoaning the situation. Only then, you will be able to develop the qualities you want to have. You will no longer focus on how to control the uncontrollable that will only lead to failure and frustration and choose to increase your power and potential instead. 

Avoid adding extra meaning to the bad situation you encounter. It can lead to more confusion and frustration, making you feel like you have done something wrong where in fact it is just the situation happens. Look at every bad situation happening to your business as an opportunity for you to get more creative so you can bring in more revenue.

Practice your mental discipline by focusing more on what qualities you want to develop during hard times. This way, your mental discipline will help guide you to choose aligned actions to respond more nimbly. With good mental discipline, you will be able to keep adjusting your target while staying on track with your goals regardless of the situation you encounter along the way.

Tips for Embarking Thrilling Scuba Diving Adventure in Bali!

This little tropical gem in Indonesia is called the Island of God for a reason. Not only for abundant natural wonder and rich cultural heritage in the surface, but also marvelous marine life under its blue water. Bali is the “all-you-can-eat” of diving. There are so many dive sites in Bali enough to fill 10 days adventure of scuba diving. And you will be indulged by the variety of dive sites! From a simple site with reefs and fishes to cave dive filled with sleeping sharks, shore dives or drift dive, muck dive or pelagic ‘hunt’, you name it. Best of all? Bali sits in a tropical country which makes diving available for almost all year round! Before you book your next plane ticket to Bali, here’s what to know about diving in this tropical island.

Head to the Northeast Coast of Bali to Start the Adventure Scuba Diving Bali

With so many sites to choose, it’s just logical if you get confused with where to start. We suggest you to hear to the northeast. This region is arguably the most popular diving location, with dozens of incredible dive sites lining up the coast. There are lots of dives to enjoy from Padang Bai to Tulamben, and Candidasa is smack in the center. Because of the calm seas surrounding Padang Bai and Amed, this is one of the greatest places of Bali for anyone seeking to get certified or improve their abilities. Drift dives in Candidasa and the nearby islands of Nusa Penida and Nusa Lembongan, which are both within easy reach of Candidasa and Padang Bai, will appeal to more experienced divers.

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Find Bali Dive School or Operator for Your Adventure

Find Bali Dive School or Operator for Your Adventure

Visitors visiting Bali, like most things, have a plethora of options when it comes to selecting a diving school or operator. You can always choose the ultimate freedom and dive without guide at all. However, we don’t really recommend it if this is your first time going to Bali and are not familiar with the local underwater situation.

Looking for the right dive operator is not hard. To locate one that matches your criteria, you’ll need to search about and read internet reviews. Around Bali, there are around 130 licensed dive operators who follow industry standards for personnel training, safety procedures (including decompression), and up-to-date equipment. Our favourite to have scuba diving adventure in Bali is Dune Atlantis, which was one of the oldest and well-known dive operator in this island.

Look for Weather Forecast

Look for Weather Forecast

Practically, you can dive in Bali almost all year long—even in wet season. Just avoid months with heaviest rainfall, which usually fall around January to March. April to December is safe for dive, while September to November usually give the best condition. This make Bali perfect for winter escape if you come from northern hemisphere!

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Avoid the Peak Season for Best Scuba Diving Adventure Experience in Bali

With the growth of tourism, Bali’s diving spots have grown increasingly popular in recent years. Especially in Nusa Lembongan, Nusa Ceningan, and Nusa Penida where divers ‘hunt’ the elusive Mola Mola and Manta Ray.

Just in five years ago, the most crowded day in Manta Point, Nusa Penida, consisted of 3-5 other dive operators. However, the Manta Point these days attracts almost 35 boats carrying divers and snorkelers, especially during high season! Think about seeing manta rays through the bubbles of 70-100 divers all diving at the same time. This can disrupt the wildlife and spoilt your scuba diving adventure experience in Bali. Some locations are busier than others, although Manta Point and Crystal Bay are virtually always crowded.

Surveying Your Customers With The Right Questions

Surveying Your Customers With The Right Questions

For your business to grow positively, it is a must to conduct a survey to your customers. It is something that many business leaders, owners, sales, and professional tend to forget due to day-to-day needs. Meanwhile, engaging with customers is a must because then you get to know what they truly needs and how to meet them. A simple survey won’t take much time and it won’t be a hassle if you can do it efficiently. One of the most important element for successful survey is the questions. 

Engage with customers

It is a must to keep your customers engaged so they feel more valued and connected to your brand. Also, strong engagement with your customers will make more loyal to you because they will less likely ti get attracted to you competition. Also, many customers want you to improve so you can solve their problems more precisely and effectively. Through survey, you get to gain valuable insight to help your customers while also growing your business. 

The right questions to ask in surveying customers

The right questions to ask in surveying customers

It is a must for you to make time drafting and formulating the best questions to get the most valuable insight of your customers. Also, align your questions to your current key performance indicators and goals. And here are some example of great questions to ask your customers on surveys:

How did you learn about our business and products or services?

This kind of question is important so you know how and where they found you. It also allows you to know what made your customers looked for your product or service. From this question alone, you will know valuable information regarding to how to access your business, product, and service. 

How many other businesses, products, or services you consider purchasing from us?

This is kind of blunt question but it won’t offend anyone. From this question, you will get to know more about your competition or what probably made your customer considered them in the first place before deciding to choose you. 

Could you share top two reasons for purchasing our products or services?

From this question you will know the motivation behind your customer’s decision to purchase from you. This way, you know your brand’s strong points. Hence, you know how to utilize them in the next plan. 

What is the probability that you recommended us to your friends or families?

This is important question to know how valuable and recommendable your brand is. Also, you will know the level of satisfaction of the customers who made the purchase. If they are satisfied, they will most likely to recommend your brand to others. 

What would be something about us you think we could improve of?

This question is important to help you know your brand’ weakness is, be it the customer service, the availability, accessibility, price, packaging, etc. This is a great way to know exactly what to fix for your brand to deliver better offer in the future. 

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.