Seeing growth of your business must be more than just exciting because it feels like you have accomplished something with what you have been working so hard for. Franchising is one of the forms of how business grow. Growing your business by franchising regionally or nationally can be a good decision but make sure to do the evaluation beforehand.
It is important not to be in a rush when you decide to franchise. There are many factors to consider because franchising is like running an entire different business than the business being franchised. Hence, it is not so simple to make a franchise of your business and make it successful. Here are important questions you should ask yourself before deciding to make a franchise:
Does your business have wider market to grow?
Market research is the foundation of business model. It is something your must rely on when running business and franchising. Find out if there is any opportunity for your business to grow outside its existing location. Also, make sure that there is demand that exist in the market. This way, you can exactly target the right location to fill a need from many people expecting your product or service.
Can your business be easily replicated?
It is important that you make thorough evaluation of how your business is replicated if you make franchise. You need to evaluate the ability to apply your branding, marketing, sales, as well as operational system successfully across multiple locations. When you find franchisees who meet the criteria of your evaluation, the chance to make successful franchise becomes higher.
How comfortably are you with the new leadership system?
Opening a franchise means you will have to navigate your leadership with different role and responsibility. You need to shift your mindset because your responsibility as an owner of a franchise system is different than as the owner of a business you have built. You have to help your franchisees because they are putting their faith in your vision. Your support will be needed by your franchisees. Hence, you will have to help them navigate to the right direction with the business because their success is your success too.
Is the story of your business intriguing?
Story can be one of the keys for successful business. And growing your business through franchising means you will need intriguing stories to attract people. You don’t have to make up such tragic stories. Just make sure you have something to explain why your business was founded, the value of your business, and what commitment your business provide to customers. Those are important selling elements that can build customers interest and loyalty.
A franchise can grow successfully if its franchisees don’t lack the fundamental belief in the brand’s value. Franchising is not an easy decision to make for every business owner. Taking the next step with your business without jeopardizing what you have already built is very challenging. Hence, always take a hard look before deciding to make a franchise.
Have you ever went to Bali, stay at a nice seaside cottage, and cannot stop thinking about how beautiful your days were once you got back home? Many travelers dream about owning their own piece of heaven in this tropical island. Maybe you have considered buying a nice beach villa Bali for your leisure. Perhaps you’ve had enough of paying exorbitant rental fees. Or your family requires more space than a hotel or a reasonably priced vacation rental can provide. Or perhaps you simply want a space where your family can congregate whenever it is convenient. You might even have consider renting out the vacation property when you’re not using it out to earn some income. In famous vacation destination like Bali, this may transform the house into a big money maker.
A vacation home in Bali can be purchased for a variety of reasons and in a variety of locations. But, like with any large financial choice, there’s a lot to consider before making a commitment.
Know the Indonesian Laws for Purchasing A Beach Villa Bali
You don’t have to be a superstar to own a beach villa in Bali. However, Indonesia has quite a firm restriction on foreign ownership. Indonesian land and property are fiercely guarded. Many international investors prefer to acquire property in other Southeast Asian countries since the laws are numerous and the process is opaque. Indonesia, on the other hand, is considering making modifications to its foreigner property ownership restrictions. They hope to attract more international investors, and the procedure may become easier and less hazy in the future decade. Foreigners cannot own freehold property in Bali or the rest of Indonesia at the time, but there are numerous titles available that allow them to use, lease, or create properties in Bali and the rest of Indonesia.
Know the Rights: Hak Milik, Hak Pakai, and Hak Sewa for Properties in Bali
Hak Milik is a freehold title and the most powerful title available. Only Indonesian citizens and business can use this title. Hak Pakai is the highest title available to foreigners. It’s a mechanism devised by the Indonesian government to provide foreigners exclusive usage of Hak Milik land. The purchaser of Hak Pakai receives a separate certificate of title in their name. The initial term is 25 years, however you can extend it up to 70 years on several occasions. If you want to sell your property to another foreign buyer, Hak Pakai is transferrable. It’s worth noting that a foreigner can only possess one Hak Pakai property at any given time. Another good alternative for foreigners looking to invest in real estate is to lease property known as Hak Sewa. The length of a lease can range from one to fifty years. It is normally agreed upon in advance with the property owner.
Decide Your Purpose
This has an impact on the type of property you acquire, where you buy it, and how you manage your company. If you want a vacation cottage that you can use during the school holidays and rent out at other times of the year, your approach to property selection will be significantly different than if your primary purpose is to make money.
Knowing Your Target Market
You also need to decide who your ideal customer is if you want to rent our your beach villa Bali. Families are likely to be your target market if you have a large residence. Meanwhile, you can advertise a cozy one-bed cottage, on as a romantic getaway.
If you want to charge top prices in any business, you must provide a high-quality product. This could entail paying a little more to upgrade old fixtures and fittings and install fast Wi-Fi, or providing unique touches like a welcome package of locally sourced food.
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Prepare Yourself for the Financing
It can be tough to obtain financing for a vacation house. It can be tough to obtain financing for a vacation house. Lenders offer higher mortgage rates and require larger down payments for a second house than they would for a primary residence. Real estate is a non-liquid investment. It might be tough to sell a home quickly, especially if you are foreigners in Bali. Many financial advisors advise against purchasing a vacation house — or any real estate for that matter — unless you intend to keep it for at least five years.
The answer to that question is yes. Influencer marketing is seen as one of the most effective strategies in business now. However, it doesn’t mean that the impact will be long-lasting. It depends on the strategy for the continuation. Before talking about the impact, let’s talk about who or what is influencer.
Why influencer marketing can give positive impact for your business
Many think that influencers are the one who have big following on social media. Or, they are the ones with blue tick on their account. However, someone can be an influencer without all of that. More important factors that play to the roles are a person’s eminence and affluence. Those factors like the blue tick or large numbers of followers are just secondary elements influencer can use to boost the impact.
Influencer today is about authenticity, sincerity, and dependability. However, that makes it even harder to define who influencer is. If those elements are what count to be influencer, then anyone can be an influencer as long as they can play an active role in business decision-making which ultimately leads to purchase when their circle of trust is indestructible. So the simple definition of influencer is those who are able to create a circle of trust that someone can have faith in.
This leads to how influencer marketing can give positive impact to your business. However, it is only when you do it right. For example, just because you choose an influencer to promote your product doesn’t mean your sales are going to increase all of a sudden. If there is no relevance, authenticity or sincerity then the strategy is bound to fail.
For example, you cannot just rope a famous model to promote your burger because your customers and his/her circle will question why their favorite model doing so knowing that this type of food is something they should not or will never consume in reality. Therefore, the large number of followers or the blue tick don’t even help in this case because there is no authenticity, sincerity and relevance.
It is important to remember that purchase decision include involve a lot of dynamics such as social, political, economic, market fluctuations, as well as the concept of the circle of trust. Also remember what Seth Godin said that people do not buy goods and services but relations, stories, and magic.
You need to make sure to choose the right influencer to market your product or service. Not only that, it needs to be done strategically with concept and plan. Choose influencer that your potential customers can trust. Today, consumers use many references to see what rbands they are going to choose. They often make purchase after seeing influencer use a product on their platforms such as Youtube, Twitter, or Instagram.
Many consumers also find references from blogs. They read reviews from blog they trust before making decision whether to purchase or not. Also remember that consumers today are very smart and they know which one to trust.
Pandemic makes any business struggle a lot with so many disruption. Vaccine is started to distribute all over the world but the challenges still there for business owners. However, hope is already in sight. Many small business owners specifically look forward to more practical solutions. There are many things to handle such as increasing revenue, building online presence, creating engaging marketing strategy, etc.
How to sustain your small business with more actionable strategies
The situation with the global pandemic has brought us fear, uncertainty and anxiety. Many small business owners have given up due to the pressure. Some are barely surviving and waiting for the situation to get better. If you are small business owner and you are struggling to sustain it, here are some actionable strategies you can consider:
Build your digital presence
Explore the options you have and get started. Today, it is essential to pivot and adjust. If your business is not already digital, you need to start learning and adapting with it now. It is predicted that even if the global pandemic ends, the impacts of it will remain included customer’s buying habit. Build your brand image with unique personality to attract more customers. Find ideas that help improve your customers’ buying experience.
Thinking about taking loans?
Taking loans can be your solutions especially if your main problem is your financial resource. However, it is also important for you to make thorough estimation and calculation to ensure that you won’t face major financial problem in the future especially with the uncertain situation like now. If you are planning to get loan, you can find out if you are eligible. Then you can apply and make sure to put it to solid use.
Low-interest financial support
If you wary taking a loan then you may try different alternatives to get financial support because of the high interest, find the one with low interest. Find financial support that gives you more leniency so you can be more confident in using it to solid use. It will hep a lot in keeping your small business afloat. Financial security is important thing to consider especially when you plan to take loans during uncertain times.
Diversify your revenue
Diversifying your revenue resources is also important for your small business to sustain. Both online and offline revenue stream need to work and thrive. You can try collaborations, add some additional sales channels, offer complimentary products, etc. For example, you can offer complimentary product along with the tutorials how to use it and live chats. It can result in more engaging customers. You can also add more options of service that your customers will like such as local delivery or curbside pickup. Those strategies can result in more robust revenue stream.
Focus on your existing customers
Gaining new customers can give your small business a needed boost to grow. However, sustainability is more correlated with your existing customers. Those are the ones who are likely to to repurchase. Hence, make sure to deepen your connection with them. Make adjustment to fit their needs and wants if necessary.
Excellent customer service is one of important keys for your business to thrive. It helps your brand to build trust with your customers. It is easy for customers to turn their heads to other brands once they experience poor customer service. Hence, quality product is not the only factors that can lead you to successful business. More importantly, customer service that is delivered with quick response is what customers want.
How not to delay your customer service response
Responding to inquiries quickly is important. Of course, satisfactory resolutions are also essentials in customer service. However, sometimes resolutions is poor in some situations. The only thing that can save your customer service is at least the fast response.
One of the problems with small business is that it is not easy to deliver quick response keep the staffs on hand for 24/7. That is why most of small businesses opt for outsourcing where they sign a contract with remote support companies. This way, they will have teams as well as scripts to handle support. Minimizing delays is essential when it comes to delivering excellent customer service. Responding as quick as possible is your goal.
There are many ways you can do to reduce delays in customer service delivery. For example, you can opt for multiple channels instead of relying only on one channel. Too few options of channels will only result in long queue which also result in delay. The more support channels you have, the faster you will be able to respond to customer inquiries.
Various channels you can try to establish to improve your customer service performance include social media, phone support, live chat, support agents, and direct tickets. Make sure that those channels are always available and active. They are accessible platforms to gather customer inquiries so you have quicker responses to deliver.
Customer inquiries can be overwhelming especially when they are jumbled randomly. Hence, it is best to try organize and filter them. Funneling customer inquiries to the right people make it your customer service also more efficient. Make sure that each channel you establish has each method to filter inquiries efficiently to the appropriate team to respond quickly.
Communicate clearly with your customers so they know what to expect with their inquiries. Every company may have work differently. Make sure that you let your customers know how long you need to help them. For example, phone support is essential and you don’t want to put your customers on hold for too long than necessary. Tell them how long you need before calling them back clearly and commit to it.
You can also promote self-service to your customers. It allows them to be follow the guide you have given depending on their issues. It allows them to self-diagnose and find useful steps to solve their issues. This way, customers don’t have to wait until they get response from you. However, make sure establish system and plans that will be helpful for your customers and their problems.
Real estate investing is challenging and rewarding. However, the best thing about it is that real estate investing is basically for anyone. Basically, anyone can start real estate investing even without having degree or license. Anyone can invest in amount they like as little or as much. In addition, there is no set amount of time of when they should be successful. Therefore, real estate investing is interesting. There is no ultimate rule of how to be a successful real estate investor. Everyone can start their investing in their way. Even though there are some basic steps or fundamentals of how to do it properly, every investor has ultimate right to decide everything.
Treating your real estate investing like a business properly
Every investor has different goals in running their real estate investing. Some investors focus on closing deals regularly every months and others focus more on earning high profit from every deal they close. However, the main focus here is closing deals and it i one of your ways to treat real estate investing like a business as it should be. Treating it like a hobby won’t get you far. Here is what you should do to treat real estate investing like a real business and get the most out of it:
Define your purpose for your investment
Make a defined system for what you will do to your investing. No matter how small you start in real estate investing, you still need to treat it like a business. If you are able to make a defined system, even your small starter can turn into huge deal. System is one of the most important factors to lead you to success. By having system, you will know what kind of properties you want to invest in and what you will do to it. You will also be able to evaluate every new deals coming your way. By having defines system, you can avoid bad deals.
Networking on your business
Business relies on networking a lot. Thus, you should grow your contact list if your aim is to treat your investing like a business. For real estate investor, growing contact list is like a basic thing to do. It also needs to be done constantly. Just because you have many contacts in your list doesn’t mean you need to stop adding it. It is also important to keep in touch with your contacts to build solid business relationship. Developing contact list can be done in many ways. You can get local contacts by phone calling or attending local networking meeting.
Marketing is also important for real estate investing to succeed. Instead of waiting for deals to come, you can reach them out by being proactive in the marketing field. You can use everything you have to promote your investing such as social media, networking meetings, or real estate investment clubs. Of course, marketing can also cost you amount of money sometimes, but it will worth it. Generating leads is important to help you keep moving forward because you have deals to close.
Praising your employees for their good work is one of the forms of appreciation. When they are being praised for their achievement or good performance, they feel acknowledged. It can help boost their confident so they are not hesitate to do better. However, praising or appreciating one employee for their performance also has its downside which is causing envy within the team. Hence, it is essential to know ho to praise your employees without impacting other team members negatively.
How to praise your employees the right way
When you recognizing your employee’s great performance, the other members in the team might envy and it causes domino effects such as high tension within teamwork. To avoid this kind of trouble, here are some tips to appreciate and praise your employees work properly:
You can try conducting a peer-to-peer award sessions or recognition sessions regularly. It can be a monthly session or quarterly session, anything you see fit. During the sessions, the team verbally recognizes individual whom they saw showcasing the traits they had previously been recognized for. This kind of award session might seems unimportant but it is essential to recognize and appreciate one’s good work while strengthening the bond within the team.
Keep in mind that you praise your employees for their good work. Hence, you have to remark on project-based wins not personal traits. Their personal traits are not to be praised unless it will cause resentment from other team members. Acknowledge how great your employee’s performance based on the goals or objectives they managed to achieve. You can pay attention to the team as well. A good performance of an individual may come from a good support system from the team as well.
Your praise should be consistent, fair, and reliable. Consistent praising means you do it on regular basis. It is wrong to praise one individual and not to the others when they are achieving the same goals. Fair praise means you need to give the same level of praise to the relative level of accomplishment. Reliable praise means that every great work deserves a praise.
It is also great to encourage and allow your team members to nominate each other recognition. Team members can nominate and submit their chosen individuals who they think deserve the recognition. Of course, the final decision is in your hand. However, make sure to share some comments of their team members said about them during the announcement. It will be more meaningful for the winner to hear positive comments from their own peers. This is a good way to encourage and build positive teamwork.
Add some humors when recognizing your employees great work. It is always good to give positive feedback that is encouraging. Do it while also giving constructive criticism. However, try not to do it with a frown on your face. You can add some good humors to make them laugh while receiving feedback. They will feel more relaxed and the others won’t feel envy either.
When it comes to teamwork, one of the most crucial key for success is good communication. That’s why miscommunication can be the weakness point of a team. Building and maintaining good communication is not easy. However, it is not that impossible either. It needs efforts from everyone in the team. Any relationship has higher chance for success with good communication.
Miscommunication prevents a team from achieving success
Professional setting like in the workplace doesn’t stop miscommunication from happening. Even though everyone behave professionally, miscommunication often happen due to various reasons. Here are types of miscommunication most common to happen in workplace that you can avoid, and how to fix them properly.
Time zone mixups in remote team
Teams who are working remotely have more challenges in communication. It is easier to cause miscommunication even caused by small thing such as timezone differences and mixups. The acronyms for different time zones are easily mixed-ups. To fix this type of miscommunication encourage your team to attach time zone to every meeting they schedule. Or, ask them to print out as well as post a chart on their wall.
Poor phrasings seem like not a big deal
However, it can cause huge problems in the team. It is not only when communicating verbally but also in written. Project specifications that are poorly phrased can lead to misunderstanding, errors, and more need for clarification. Therefore, it is best to encourage everyone to speak and write using clear words and phrasings as to not cause any misunderstanding.
Unclear expectation when charging your team with a task can cause miscommunication. The result of this type of communication is the products that don’t look like what you have expected from the beginning. You cannot blame everything on your team if you didn’t set clear expectation from the beginning. Hence always set expectation clearly along with the purposes of the project. Also, you can use success metrics if the expectation of certain project is more measurable.
Unproductive accusation is the type of miscommunication often happens in workplace. Blaming each other won’t solve the problems and only create tension between the team. Hence, always encourage your team to develop their own accountability. Hence, they will learn that every individual has to be responsible for consequences of every action they take. Owning up to their own mistake is a form of accountability. Also, it is important for you as a leader to create an environment where every team members feel comfortable include in admitting their shortcomings.
Refuse to talk
When team choose to keep silent then there won’t be any productivity. It may only cause misunderstanding and failure. hence, always encourage your team to talk it out. When a member has something to say or something they feel doubt about, encourage them to speak up. Also, bad behaviors are usually easier to be swept under the rug when everyone choose silence. Therefore, good communication is also a key to maintain discipline and good work ethic especially in professional setting.
To be a successful entrepreneur is no easy. The journey to reach goals is often challenging and that’s why not all entrepreneurs can achieve success instantly. More often that not, entrepreneurs are seen as confident, successful people who know what they want and to do. However, the reality might goes deeper than that. Entrepreneurs are human so it is normal to experience negative feeling or emotions. For example, not all entrepreneurs are naturally assertive and decisive. Some of them might have to go to the long process of conquering their own self-doubt before making decision confidently.
Navigating self-doubt to productive entrepreneurial energy
You cannot just expect yourself to be instantly confident all the time once you decide to become an entrepreneur. However, it is important to improve yourself to be better. Self-doubt is one of the many challenges entrepreneurs can conquer. In fact, you can defeat self-doubt and build more positive entrepreneurial energy so you can create better product and deliver better service. How to do it?
Keep in mind that you are not the only one who experiencing self-doubt or fear. Those are natural feeling of human being. Many people, entrepreneurs or not are experiencing those feelings. However, it is important to focus more on how to improve yourself to be better rather than isolating yourself thinking that you are alone.
When you feel self-doubt or fear, most of the common factor is other people say about you. Hence, you start questioning and doubting yourself. Keep in mind that every individual has their own way to navigate life. Thus, always focus on your own life and stop comparing yourself to others. Besides, you don’t really know the behind story of people you think superior or more successful than you. They might have gone through what you are going through as well.
Try to focus more on your achievement even if it is not world-shattering one. Try to remember what you have achieved in the past and how you could do it at the time. Hence, you can make another plan for your future to make another achievement worth celebration. If you focus more on your failures without trying to find the real problems and solutions, you will only sabotage yourself.
Long term targets are important for entrepreneurs. They are like a map you can use to guide you to the right path because your destination is clear. However, it can be frustrating when you realize that how long it takes to achieve them. It results in self-doubt and fear of failure. Therefore, you can also set short term goals beside the long term ones. Those can be sued to keep self-doubt at bay.
It is often said that entrepreneurs should plan everything thoroughly to avoid mistakes. However, sometimes there are inevitable things you have no control in. Making mistake doesn’t make you a failure. Instead of succumb to self-doubt, you can focus more on how to react to those mistakes so you can do better in the future.
Best Villas in Bali isn’t just the spot to get back after work and call your day off. Theres a lot of moment you could capture while in the villa to make your day memorable. Moreover, if you decide for a short or longterm stay within the vacation or living.
Even so, vacation isnt always defined by the activities that you do in outdoor and going to another place. Thus, you could still enjoy a vacation in theme of indoor activities, staycation and relaxation treat. So theres always a way to make the most out of best villas in bali to catch a memorable for you.
With only a comfortable room and serene environment, it can completely outfit the type staycation you want. Clearly it gives you a robust energy until the rest of the day. So here are the popular moment to spend in villa:
Get a Tan
Get your skin a new colour always a great idea. If you get bored with the current appereance, get a tan while staycation in villa is a solid choice. With a place over the pool, mocktail beside your chair and a direct sun, might be an exceptional moment in your life.
Tranquility in Best Villas in Bali
By the chance that you seek for a tranquil and serene experience, staycation in the villa will sort it out. Bali property can bring those in a second without the need to worry any issue.
Moreover, the famous balinese vibes and ambience will bring you and family to a new level of experience. Surround with natural ecosystem and vegetation anywhere which makes it more magical. You will be stunned on how you realize this staycation moment can be this good without the need of going outdoor. In addition, the uniqueness and character is very strong that you may not find it elsewhere but in best villas in bali.
Gathering in Spacious Garden
Most of bali property offers a spacious garden in order to suit any type of event and gathering within the unit. With a spacious spot, you could arrange any kind of event to live up the moment with your loved ones.
However, its never a bad idea to decorate your garden during the event to make it more special. Theres plenty stuff you could put with the help of your family to give a sense of luxury in the agenda. With more space available in garden, means a more spot for additional attendees to your event.
Spend Your Moment in This Best Villas in Bali
Enclosed in a beauty breeze are of Batu Bolong, Canggu. This villa offers 4 bedroom and 5 stylish bathroom with solid construction and brand new. Cover in approximately 280 sqm building. It includes both close or open living room and dining, which leading to 4mx10m swimming pool and garden. Moreover, feature with lounge in the Gazebo area and by the pool.
You will guarantee with a tremendous moment while staying in this villa. Theres nothing will go wrong to pick this best villas in bali as your destination. Enquire this villa now for the November deal and ideal price, also it includes the return on investment report to help you deci