Main Ingredient for Building New Business

Starting a new business is said to be simple because growing it is the hardest part. It may be true but not really because it is considered as hard for some people. The problem of building a new business is that the rapid speed of how the world change every day. When you spend a day to think of what kind of product that will attract people, there is change of interest of people the very next day. The ability to keep up with the world’s fast pace is necessary when it comes to building new business. However, there is also important ingredient you need to build a new business successfully, which is relationship. 

The key in building new business

Relationship is considered the main ingredient for building a new business because it can help you with almost everything, especially the matter that involve confidence and trust. In business itself, trust is a great weapon you can use in the long run. As much as it’s effective for building new business, trust is is easily crumbled. Building trust takes time and breaking it only needs a second. Business is about building a solid foundation of relationship. That’s why building trust is just as important. 

Main Ingredient for Building New Business

See Everyone with Prospects

Building relationship can start with setting up list of contacts with all prospects. It is important for a business to have prospect database even from the beginning. You can’t build relationship if you don’t have people to contact with. That’s why adding and building contact is the first start in building new business. 

Nurture Your Relationship

Aside from adding new contacts, it is also important to nurture the relationship actively. Don’t wait the others to reach out. Instead, try to reach them out on your own. Being proactive in building contacts will benefit you. You can use various ways to outreach such as using social media, direct mails, industry conference, or speaking engagements.

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Approach Everyone Personally

Personal approach is also important in building relationship in your attempt to build a new business. You have to follow up your contact with personal approach such as making telephone call and deliver a warm personal note to double the impact. 

Stay in Contact with Business Relations

It is important to nurture your business relationships with your contacts. You have to do it constantly and frequently. Staying in contact is what you have to do. It is just like what you do with your friends. You can nudge them with small gestures such as giving them informative articles, etc. Frequency is important point in nurturing relationship even in business. 

Be Attentive

Always be attentive to your contacts and prospects. You can give them help they need. To be able to know what they need, you should listen to them attentively. Always ready to ask question they can make them spill information of what they need. Seeking to be their assistance will allow you to have deeper business relationship with your prospects. 

Relationship is main ingredient in building new business and trust is the key. Only then, you will learn to figure out when to snatch the opportunities to result in more business wins. 

Unthinkable Challenges Your Small Business Face

Running your own business is surely challenging and it is not a secret anymore. Starting from a small business is a great idea. However, it doesn’t mean you will face less challenge just because you start it small. In fact, there is always risk and challenge in every type of business. Some of them are predicted so you can make thorough plan in advance. Some others are unpredictable or situational. That’s why you always have to spare for flexibility so that you can always adapt to the circumstance while the problems occurs. There are even unthinkable or underrated challenges or problems you should actually be prepared for. 

Challenges small business might face

There are many types of challenges and problems you will face when you decide to run your own business even if you start it small. However, there are also your opportunities to grow your business bigger and better. Here are underrated challenges small business face you should not ignore in reality:

Dependency on a client – It is possible for your small business to be too dependent on your clients. It is not a good thing because then it only makes you an independent contractor instead of a business owner. You should not let a single client make up half of your business income. You should build a customer base with diversity so that your business will grow successfully. This can benefit you if your clients have their own dependence on your products or services which stay consistently. If not, you’d better diversify your customer base. 

Money crisis and management – Financial crisis should be a predicted challenge you have to prepare for in advance. There is no one can predict when a financial crisis will occur. Therefore, you should always be ready with your financial buffer. It is also better if you manage to gain extra income. Then, management is also another issue when it comes to your finance. Managing money is not easy both for professional or personal purpose. Gaining income from different sources can help you build finance’s stability for your business in the long run. If it’s necessary, you can also invest in bookkeeping assistance to make sure your finance is well-managed. 

Founder dependence – Aside from client dependence, there is also underrated, unexpected challenges small business face, founder dependence. You might not predict this situation when you stared your business. However, what would happen to your business if you got into car accident which makes you unable you to operate your business properly? One of the best solutions is to give over more control to your partners or employees. 

Constant pressure – Many of small business owners didn’t think they would experience constant suffer when they started because they thought small business meant less work and challenges. Fatigue is common thing most business owner suffer. However, dealing with constant fatigue and stress can take a toll on you. Not only can it wear you down physically, but mentally as well. Thus, it is important to find your own pace where you can stay passionate doing your work without crushing you down.

5 Reasons Bali Villas For Sale Always In Demand

The business has always been the foremost for profit. Business that is currently very promising is property. Some in tourist destination areas, the property has high business prospects. In Bali, houses, apartments, shop houses and even villas are perfect for investment. Did you know that at this time, the villa is one of the alternative accommodations that are popular? No wonder there are many Bali villas for sale for individual investment. There are many advantages of villa investment because it is very suitable to be a place to relax and have fun.

Bali Villas For Sale

Investment Advantages of Buying Bali Villas For Sale

Villa investment capital is not small. The cost of treatment can be quite expensive and sometimes people think twice about buying a villa. But basically every investment always brings benefits that you must understand.

Rent back

What was your previous investment? Gold? Deposit? Villa investment has a long-lasting character. The villa you own can be rented again so that there is income from the profit of the villa rental business. Later, the income you get from the rental price can be used for maintenance costs. Bali villas for sale is a long term investment in the next 3-5 years. After passing through 3-5 years the development of the value is enough to produce the difference between the purchase price and the selling price.

Protection against inflation

This is the logic, many business people who invest property so as not to erode inflation. This means that business people know exactly what property investment will not go down like the value of a currency. Imagine how much an investment return if you have a private villa in a strategic place with land prices and always going up.

Big Profits

Whatever the investment, everything brings benefits to the owner. When traced, the price of the villa is always creeping up. Especially when your investment in the world’s popular tourist destination. when the popularity of the villa as a temporary residence, you can benefit greatly from the cost of the rent.

The Ideal Collateral

Property investment is the most ideal. Your villa can be used as collateral or the most solid collateral. It is possible if banks do not hesitate to provide large loans. If you need other investments, the property is perfect for collateral to banking.

Save on vacation costs

The heaviest cost when on vacation is the cost of accommodation. To stay at a 5-star hotel, you need at least a minimum of $ 150 per day to get the best service. If you are on a long vacation, then certainly the cost of accommodation will be very large compared to other costs. If you want to enjoy a comfortable vacation in a private villa while doing business, then Bali villas for sale is perfect for you.

Buying Bali villas for sale depends on the ability of your budget. The location and design of the villa usually cannot be separated from adjustments to your budget. If possible it’s good if you build your own villa. It should be noted that to build from scratch, you must really prepare a budget. Calculate all development costs that will be used to determine the short-term or long-term rental price.

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Benefits of Thinking Creatively When Running Your Own Business

Being an entrepreneur requires lots of skills, qualities, and talents. It is much more than setting financial planning in order to gain profit. You also need to be creative if you want to survive the battle in business because there’s so many thing that can happen both predictable and unpredictably. Creativity will help you adapt any circumstance and survive any obstacles. Running your own business is not only about having control of others. It is about how you navigate your power into the right direction in reaching your goals. 

Benefits of creativity to your business

Running your own business takes a lot of confidence and courage. You have to be brave enough to do so because there’s so many challenges. Even when you already reach your goal, you still need to scale to the next level if you want to outlast your competitors. Besides, business is not for settling. It is something you always need to improve. And to do so, you need to think creatively. 

Benefits of Thinking Creatively When Running Your Own Business

Innovation is unique and useful

Creativity is needed to foster innovation not only invention because innovation is unique as well as it’s useful. Unique idea or what you call invention is not enough. You have to innovate to make it true and you need creativity to innovate. In business, you create ideas of what kind of products or services that will satisfy your customers. However, you have to innovate those ideas into something that will exceeds your customer’s expectation. You have to make sure that your products and services are useful to solve your customer’s problem. 

To think the unthinkable

Lots of people that when you are highly intelligent, you will most likely to be successful in business. However, intelligence is not enough. You need creativity to and it plays important role to bring your success. It is still quite a stigma because majority of people still consider intelligence as everything. The reason maybe because intelligence is more measurable and manageable. Meanwhile, creativity can be quite difficult to spot. But that’s when it’s needed. When you can think creatively, you can survive even the unthinkable and unpredictable. You will be able to outlast others because you have your own way to survive. 

To transcend boundaries

Thinking creatively is needed when running your own business because it can help transcend boundaries. When you are bound to boundaries, your way of thinking will become limited and narrow. However, creativity will transcend all boundaries, allowing you to blur them and gain more perspectives. This way, you can find more solutions to pick. You will be able to find solutions no matter how complicated the problems seem to be because creativity has no limits or boundaries. 

Do more efficiently

Creativity also increase productivity as well as efficiency. Lots of people running their own business take five to ten years to gain success. However, people with creative thinking can find more efficient way to reach their goal faster than others. They have unconventional way of thinking which allow them to think of different path with more efficiency and effectivity. Thus, every process to success will run smoothly.

The Benefits of Applying Flexibility in Business

Flexibility is strongly connected to creativity and efficiency. Being flexible in business means you are ready to face whatever happens. You will always be able to adapt to any changes in your business. After all, business is a place with fast-paced dynamics. Being too rigid in running your business will only open more opportunities to fail. Remember that business is a place with tough competitiveness. When you are too rigid, you will be left behind by your competitors. 

Advantages of being flexible in business

Running your own business is promising and challenging at the same time. You should expect from changes to happen sooner or later. Besides, the market is not something you can calculate precisely. There is always chances of something to go wrong. However, you will be able to face them all if you are being flexible enough. Here are the advantages of being flexible in running your own business:

As mentioned above that flexibility is strongly connected to efficiency. When you are flexible, you won’t close yourself to try different or new methods. Instead of looking for methods that work just fines, flexible entrepreneur will find methods that bring more efficiency to business. In your business, you should allow flexibility in the matter of policies because it can generate innovation. That way, you will be able to find more efficient and effective methods for the benefits of your business. It will bring more benefit to the operation management as well. 

By being flexible, you will also be able to face competition in the tough market. Attracting customers is not easy because of tough competitors who work just as hard, if not more. When you are flexible, you will be able to find out what the market demand to solve their problems. You will be able to create products or deliver services that fit your customer’s needs. For example, flexibility in technology. If you are flexible, you will not hesitate to familiar yourself with technology especially since most people (your potential customers) are already familiar with it. This way, you will be able to build closer connection to your potential customers and find out what they really want. 

Flexibility is also important to improve productivity. You can apply flexibility to employee management. For example, you offer flexible work schedule to your employees so they still be able to lead their personal lives without disrupting their work commitment. Important factor for this matter is telecommute. Another example of flexibility in employment is to allow job sharing so one job can be split among two employees. It will increase productivity and efficiency. 

Your business have more opportunities to grow faster if you apply flexibility to it. When you are flexible in running your business, you will always tend to seek methods and processes that work better. You will use every potential to make your business grow positively. By being flexible, you will also identify more opportunities even through the hardest times because you are able to approach the problem in more open perspectives. 

Rules in Setting Your Business Goals

Goals are important for life in general because then you know what you want to achieve and how to reach it. As in business, goals are also important because then you know what plan you need to make to achieve them effectively. Through goals, you can create actionable path on what you desire in the future. However, setting goal in business is not as simple as it sounds. You cannot just set a goal based off what most people have. Every individual has different goal and they also have different ways to achieve it. You cannot depend on the other to set your goal in business especially when you run your own business from the scratch. 

What to do to set goals to run your own business

Most people set goal during when New Year comes once in a year. However, you don’t have to set a goal for a year only when it comes to running your own business. Setting goal in business is what can help you decide which path to take and what strategies that seem to work the most effective. Here are several tips in setting your goals.

Rules in Setting Your Business Goals

Be more specific

If you set vague or too general goal, it will be harder to decide what action you need to take. You cannot just say that your goal of running your own business is to become a millionaire. Yes, it sounds great but you need to be more specific. It is much better when you can set a goal of how much money you want to earn in five years. Or, how big you want your business to be in ten years. The more specific your goal is, the easier for you to provide specific things to make it true. 

Set meaningful goals

Yes, a goal should be meaningful in order for you to be eager to pursue it. You need to set goals that make you willing to do whatever it takes to achieve them. You need to set goals that can drive your motivation, spirit, and persistence. You want to be successful not because of how much money you can earn but things behind it such as having more time to rest, more chances to make your family happy, more opportunities to contribute to others in need. 

Be realistic

You have to set goals which are achievable and reachable for you. Dream big is important. However, dream and goals are two different things. You need to make achievable goal, especially a goal that you set in the short term. For example, you should set realistic goal you can achieve daily such as finishing financial report, following up potential customers, or making weekly plan. 

Set time-bound goals

You need to ensure that you set time-bound goals by setting an exact time on when you plan to achieve them. You can set goals in specific intervals such as three months, six months, or twelve months.  It means you have your goals measurable so you can monitor the progress of how close or far you are from achieving them.

Benefits Of Having Small Business in Correlation With Millennial’s Tendencies

Every one of your customer is unique. They have their own preference and tendency. However, it will be easier for you to categorize customer in particular group. For example, millennial are a very different group and dominating the market at the same time. Thus, you need particular strategy to appeal them and make them your loyal customers. Millennial have their own preference regarding to their buying patterns and habits. Finding out what are them will be beneficial for your small business because then you will be able to grow it with important factor like millennial consumers. 

Benefits Of Having Small Business in Correlation With Millennial’s Tendencies

Millennials characteristic and buying patterns

The point is, millennials put special attention to small business. They are also the type of consumers who know what they really want. They have their own criteria in choosing particular brand. Understanding this aspect is good for your business. This help your small business to improve. Besides, attracting customers is what you need to do if you want your business to stay in the track in the long run. 

Millennials prefer to shop local

This is because they have stronger sense of community. They also like to feel connected to the brand they choose. They don’t choose products or services randomly. They consider more the brand that can truly convey what they want. That may be why most millennials prefer to stroll the shops down the street instead of spending time in big corporation. In this case, you need to build a brand personality that can connect with them. 

Millennials like things with customization and personalization

It is because even though millennials can be put into one category, every individual is unique. They have different characteristic in some ways. Besides, they embrace the feeling of being unique and different. Thus, they want something customized and personalized to fit their characteristics and unique personality. It because that way, they also will feel different experiences. Make sure you offer products or services that has special, unique point. 

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Millennials are generation who prefer casual things

Casual cultures are what millennials enjoy more. They like the feeling of comfort. For example, they don’t really into formal outfit even when they have to attend business meeting. They prefer to feel at home. They prefer relaxed environment as well. If you create environment when they feel pressured to buy your products or services, you won’t go anywhere. Make sure to provide casual as well as comfortable ambiance if you want to appeal millennials consumers. 

Millennials are also generations who like sharing and giving back

They won’t hesitate to give feedback about their experiences in using your products or services. They also like sharing their stories to the world. With their familiarity with technology, it is easy for them to spread and share. When you attract millennials, the chance to get more customers is high because your brand will get more exposure. When your products or services are being reviewed positively, it brings more response which benefit your attempt to raise brand awareness in wider community. 

What Can Appeal Your Products or Services to Younger Audience?

Every business goes use different approaches to target their audience. Besides, there are various groups of audiences in the market. Making your products or services appealing in the eyes of audiences is important. There is marketing rule adopted by many business owners. It is to brand your audience while they are young. Because then they will be your clients forever. When you can attract young audience, it is such an invaluable asset to have them loyal to your brand in the long run. Thus, targeting younger audience is a good strategy to improve your business. 

What to do to appeal younger audiences 

Here are what you can try to appeal younger audiences more and make them loyal to your brand:

Unlike older customers or parents who focus more on quality and performance, younger audience tend to focus more on brand personality. Most millennials tend to be like this. It doesn’t mean you should focus more on one side. You can apply both approaches which is focusing on both quality and performance and brand personality. Make sure that you create a brand with authenticity. Create brand that can communicate with younger audience to appeal them because millennials have tendency to have their string emotions evoked. 

Younger audiences also tend to pay more attention on design and visual attraction. They are used to advanced culture. Thus, it is not surprising if they choose a brand that appreciate visual appeal as well. Millennials are used to be surrounded by great visuals in their life. Thus, they have higher standard of brand’s visual representation. Therefore, you should put more effort in creating attractive visual appeal. 

Instead of simple advertisement, why not appeal young audience through PR campaign? Create a campaign when you can encourage younger audience to engage more with your brand. You can use campaign in social media to appeal younger audience more. You can create a campaign with special challenge where younger audience can participate actively. This type of fun challenge is good way to appeal your brand. However, don’t forget to demonstrate the efficiency of your products or services as well. 

Always eager to innovation is what appeal to younger audience. Thus, you need to keep up with finding and creating innovation that can attract them. Choose products and services with boost of innovation. Don’t forget to use innovative marketing strategies and tools as well to optimize the impact. Choose the right platform and create marketing with relevant niche. There are various social media you can choose as the place for marketing since younger audience basically spend their time in those platforms. 

Another strategy to appeal younger audience is to hire millennials. Many companies now hire millennials because they have potential as well as direct engagement to the global environment and market. Their relevancy can be used to appeal younger audience as well because they understand more what they like, their interest, and their tendency. Working with millennials also a great way to boost your business because they are full of passion and motivation to success. 

Pros of Running A Family Business

You can start a business based on what passion you are into. You can also choose to do it alone or join forces with friends or family members. The choice is in your hand but you need to consider the pros and cons by doing what you choose. Running a business along with your family members may seems a good idea because you don’t have to think about how to work with strangers. However, you need to think carefully before taking any decision because running a business, with family members or not is something you need to take seriously. It is not a child play because you need to commit to what you decide.

Benefits of running business with family members

You can run a business with whoever you want. You can do it with your spouse, cousin, or parents. However, it is important to weigh down the pros and cons of doing so. As for now, here are the benefits of running a business with family members.

Pros of Running A Family Business

There is no awkward or uncomfortable feeling to build connection and collaboration because they are people you have known. You already have better understanding of their character and interaction style. Thus, you won’t likely to have difficulty to work together as you know how they are likely to be.

Another benefit of running business with family members is that you can build relationship with more empathy. Thus, you and your family members will have better understanding of each other. You understand where you came from as well. You also know that you can always rely and count on them anytime beyond business relationship. Deeper connection can be built effortlessly in return.

Since they are your family members, it is not hard to share common goals. It will take faster to share common goals from the beginning. Meanwhile, this is one of the biggest challenge when running a business with strangers because mutual understanding and sharing the same goals is not as easy as it sounds after all.

You will experience more relaxed mood in the workplace with no awkward air. The mood is more comfortable and because you are with people you are already comfortable with. You don’t have to fill the silence with small talk. You can just focus on your work without the need to break the silence.

The pressure to have excellent financial performance will be less burdensome when you run a business with family members. There is more flexibility when it comes to it because they are your family after all. You have more lenience to meet the time of returning the on your investment.

The operation of running business with family member is more efficient because you don’t have to go through long-process of recruitment. You don’t have to check the qualification or backgrounds because you are going to work with people you already knew. You can skip this steps and proceed to the next steps. Thus, you can start running your business a little faster than the average.

Is Fun Important for Your Business?

Most people think that professionalism and serious behavior are the only elements that matter in business. However, it is not true at all. There are many elements that influence to the success of your business.

How to create fun in workplace

Professionalism is one of them but it is not the only one. To improve your business, you also need the element of fun. You see, business itself means serious matter because there are many things to take care of to keep it afloat. It gives you stress enough.

That’s why adding fun to your business is important. It can brighten up workplace, make your employees happier, and improve business performance.

How to create fun in your workplace

By adding the element of fun into your business and the workplace, it can help enhancing motivation, increasing productivity, reducing stress, driving higher level of satisfaction, and improving task performance.

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Therefore, adding fun to your business is not bad idea at all. In fact, it benefits your business in many ways. Here are tips to add element of fun to your business and workplace:

Celebration at work?

Celebration is one of the ways you can create fun working environment. When your team manages to score a big deal, you can celebrate it by holding special event for all. It doesn’t have to be extravagance.

The point is to make sure your employees can lose their stress after working so hard to achieve score the deal.

You can plan fun games and activities to let your employees loosen up for a while and forget all about job and responsibilities at work. Or, you can also create more peaceful celebration such as arranging dinner in a family restaurant.

More open to communicate with employee

Maintain professional relationship doesn’t mean you have to be all formal with your employees all the time. You don’t have to keep your straight face whenever you make conversation.

You can even crack some jokes to lighten up the mood so it can help reducing the stress in the workplace.

As long as there is no work ethic broken, it is okay to ass the element of fun in working environment. Laughter can bring happiness which generate endorphins. It can make your employees work in happier mood which in return, increase their level of productivity.

Participate the employees into fun competition

Create friendly competition between employees. Of course, you can’t forget the prizes as well. Friendly competition in the workplace can lighten the mood.

However, make sure that it won’t add the stress. You can create some fun challenges so your employees can happily participate. It is a fun motivator. Don’t forget to add the prize to make it even more fun.

Casual clothing for Wednesday? Why not!

Choose a day where your employees can wear casual clothing. This can make them feel more relaxed during their time in the workplace. It can also boost their confidence because they are also allowed to dress up as they wish.

In addition, try to set up fun-loving social network. For example, you can create a group chat where your employees can send each other funny memes, or post fun jokes. Comedic relief like this can reduce their stress effectively.