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.

What to Consider Before Selling Your Rental Property

One or two people you have been knowing for so long can be those who are making money through renting their own property or they may have been build a rented house for that business purpose. Later, as what the others a re also experiencing, many of the businesses are collapsed that will be possible to make the property owners to just sell the property even if that will be their own main way to make money.

If you are facing the same condition as that, it is your decision whether or not to sell it since it is your main source of income. But, if you are confusing which will be your decision, you may want to consider things that may have not been came across into your mind before.

Things to know before selling your rental property business

Things to know before selling your rental property

The first things to consider is that, selling your own rental property is actually selling your main source of money, right? So, what will you do next? I mean, you will surely get huge money by selling it, but you will keep on spending them all as well until there’s nothing left.

Are you sure that you are possible to save money or starting a new business that have not been tested by yourself before?

Next, if the rental property business is not running well, don’t you think that it can be used as the small shop or something else to start another business? I have been seeing many houses are also selling products where the house itself can even be the garage.

But, it one of the way to make more money out of renting your property. The story will goes different if you don’t really care about starting a new business in the same place and will only just sell it to the others.

But all I want to say is that, selling your rental property is also selling all of its future to the other businessmen. There may a big chance in days to come, but if you are exhausted in waiting, then go after to do whatever the decision you have got in mind.

Last thing I need you to think about before selling your rental property is that, make sure that you have been going before to the city counsil or government and ask about the future development plan for the location where your rental property had been built and its surround.

If there will be big commercial plan for that, don’t you think that even the area itself will be more expensive to sell than the price for the building?

It is better for you to know the next government project about the location so you can really have a time to ensure yourself whether or not you are going to sell the property. And it is actually will help you in defining the proper price for your property if you are still insisting to sell the rental property.

I would love to hear from you if there will be any other things to consider before selling the rental property.

How Can You Use Social Media As a Digital Marketing Tool?

Today, if you are running business on internet which most people is calling it as the method of how digital marketing is working, most of the marketers will keep on telling you to make use of social media as one of the marketing tool that should never been missed.

How to use social media as a digital marketing tool

It is understandably ever since many of social media users are spending their times on there while keep on giving interactions to each others.

Even, when I was writing this article, today, there have been more than 500 millions of Tweets have been sent, more than 55 millions of photos uploaded on Instagram, more than 240 millions of active users on Pinterest and more.

There are a lot of things happening on internet and what you have just read about the things that are happening on social media today are just a drop of water in the ocean.

Knowing the above facts, you will realized one thing which is there are huge market on social media that can be targeted for your business. But how you can start to take a step in that?

How to start using social media as your business marketing tool?

As social media is also one of the digital platforms than can be used as a marketing tool for your business, you’d better think about starting to choose which ones will really be used for your own business.

And then, all you need to do will only relate to what to post, how regular you are going to do it, and how to reach more people as well as how to optimize all your social media pages.

If you are confusing about which ones will be used, here are some of my recommendations:

  1. Facebook that is possible to share anything and have huge audiences.
  2. Twitter for those who like to share and discuss anything (keep it related to your business).
  3. Instagram to market your business through images and videos.
  4. YouTube. Many people are considering it as search engine as well as the social media platform. But it doesn’t matter what it actually is, video-base content is still helpful for business until today.

Take your time and start to create accounts at above social media platforms. You don’t have to create at all of those mentioned lists, but make it at least there will be 2 social media accounts to be used for your business. For me, Facebook and Instagram is really recommended since the audiences are huge.

Then, change the accounts to be the business pages. If you are using Facebook, you can simply create a page for that but if you are using Instagram, make sure that you don’t use the personal profile for your business page.

And, start optimizing them by create the professional bio, profile picture, interesting description, and start planning the contents for all the social media accounts you have been created before.

If you are confusing how to create the interesting contents that can attracting more audiences in giving interactions, simply take what your business competitors are doing on their own social media and you can then start following what they have been doing with your own business style and words.

Keep in mind that making use of social media as a marketing tool will also requiring you to put tags or hashtags on almost every posts you are going to publish to ensure each post’s visibility will be increasingly high and your business pages will also get more audiences or followers.

But if not, like I have said, it is a marketing tool so there is surely another way to reach more audiences or getting more followers and exposure for your business. It is by using the social media ads platforms such as putting ads on YouTube, Facebook and Instagram Ads and many more.

If the above things can be doing continuously, you will mostly get the higher chance to get many customers as well. And what can be more important than that when running a business, digitally?

But if you are struggling doing them all by your own although you have been using various tools to help managing your works, there have been so many professional social media agencies that will help to manage your business accounts as well as dealing with various ads platforms to reach more audiences and sales.

Well-Established Teamwork to Ensure Success in Business

Teamwork is one of the most important ingredients in the recipe of successful business. Yes, you can start and run your own business but when you have solid teamwork to work together, everything will become more efficient which is more opportunities you get to achieve success.

Some advantages of well-established teamwork for business

Teamwork is supposed to be effective and efficient combined action of a group of people. Teammates are supposed to be encouraging and have positive attitude in working. That’s why establishing solid teamwork is not something you can achieve in a day or two. It takes time because you need to build solid foundation.

Important points of well-established teamwork in business

Well-established teamwork is important in every type of business regardless it’s small or big. Here are some important point to be highlighted in attempt to build well-established teamwork when running business:

The right people

You need to recruit the right people because human resources are the core of your business. Choosing the right people is not easy either because every individual has different characteristics. However, you can highlight the most important point to know the right people.

It is the attitude that you need to be highlighted. People with the right attitude will give positive impact to the team and business. Thus, make sure to do your best in recruiting the right people with the right attitude to improve your business.

Efficiency

One of the most obvious reasons why you need teamwork in your business is to improve the efficiency which can impact significantly to the flow of your business in general. The more people you can rely on, the more efficient the task can be finished.

However, it is important to choose the right people with the right skill that you need to help growing your business. You may be tempted to hire an outstanding individual with great expertise. However, it won’t affect much if their skill or expertise don’t fit with the vision or goal of the business. The right people with the right skill will help improving the efficiency of everyday task.

The same vision

Remember that in order to build well-established teamwork, you need people who are on the same page. With the shared vision, you can create unity.

This can prevent your team from feeling lost or confused of what they are getting into. Thus, it is very crucial to ensure your teammates from the start about the vision and goal of the business so you all shared the same vision. It can help creating positive vibe as well.

Positive relationship quality

This is important when it comes to building well-established teamwork. You need to a build a team who care of each other. Working in team can be challenging because there more rooms for disagreements and disputes. However, those frictions won’t have significant effect if you have a team who care of interpersonal relationship.

The qualities needed to create positive relationship include trust, respect, as well as understanding. You need to build a team who understand how to achieve the goal together and not only a group of people who work in the same building.

How to Become An Effective Leader for Your Team in Business

Running your own empire in business no matter how small it is, is a challenge you can conquer. However, it is a team that will help you to achieve your objectives. That’s why it is important to learn how to be a great leader for your team. Even if you don’t have experience to lead before, this is the time for you to take the challenge. To be a great leader for your team, you will need to possess certain qualities such as patience, self-control, communicative, and many more. However, you don’t have to be worried because it is something you can learn while running your business.

Become an effective leader for team to improve business

Managing people is not easy because you have to manage different people to reach the same goals. That’s why you need to start learning how to be an effective leader for your team so you can reach the same objectives. Here are some things you can do to be an effective leader:

You have to delegate responsibility to every member in your team wisely. Just because you are the leader and the owner of the business, you can control everything including how your team get their things done. It will only lead to disaster. Thus, it is much better to delegate work to your teammates. Aside from boosting your teammate’s confidence, the amount of work you can accomplish will multiply as well. Thus, it is a win-win for your teammates and your business performance. 

To lead your team effectively, you need to set goals. This is what your teammate need to strive. Goals are also their direction and purpose. To make the performance more effective, you need to set the goals to be more specific and measurable. You can regularly monitor their progress so you if it works. 

You also need to communicate well if you want to be an effective leader for your team. Communication is one of the most important elements to reach success in business. You need to make effort to communicate effectively with your team so there is no chance for misunderstanding. In communicating with your team, make sure to use words that they can understand easily. Then, you also need to make time to listen to your team. 

Do not hesitate to give recognition when your teammate makes achievements. Recognition from a leader in a team is valuable for the members. It is how you appreciate their hard work. Not many bosses recognize their employee’s achievement and that will only make them feel less motivated. You can reward your team if they can achieve the goal with amazing result. So they will motivated to do better next time. 

When difficult problems arise within your team, you have bigger responsibility to find solution. There is always quick solution you can find. However, it is also important to think of lasting solution. In addition, don’t take everything too seriously when leading a team while running business because it will only add your burden.

Buying property in Bali, A Lasting Investment

Bali, one of the exotic islands in Indonesia which is no longer denied its popularity. The seaside runaway island is perfect as an investment for tranquility seekers with a magnificent environment with amazing backgrounds. Mount Agung is towering at an altitude of 3,124 meters, while villas offer luxurious facilities that support tranquility and spectacular views. While Balinese cows are graceful living quietly in the wild. Buying property in Bali offers the perfect investment for everyone.

Buying Property In Bali

Even though villas are located between residential areas, they have a perfect short path to boutiques, international restaurants, bars, clubs or other nightlife. While in its own villa, the most complete and privacy facilities compared to other accommodations such as swimming pools, kitchens and equipment, family rooms and semi-open dining rooms. The concept of most elite property Bali is to enjoy nature. Do you know how difficult it is to get accommodation during high season? Isn’t buying property in Bali a very profitable investment?

Why Should Buying Property in Bali?

Based on surveys, property and real estate transactions in Bali showed a sharp increase, whether land or buildings. Bali, known as the Island of the Gods, has attracted many investors from all corners of the world. In fact, Bali is indeed the center of attention of tourists and villas are the most preferred by travelers. No wonder that many investors invest in villas, whether they buy used villas or build new villas.

Buying property in Bali as an investment is very promising considering that in the 3-5 year period there has been an increase in the number of tourist arrivals both domestically and internationally. Whereas from the other side, property investment is the safest in political years. Bali has its own investment value without having to promote it.

The return on investment when you decide to buy property in Bali is at 6-10%. But of course, it depends on where your property is located. In general, wherever your property is located, investing in buying property in Bali will continue to increase.

The Best Time Buying Property in Bali?

It takes the right time to invest so that at least you get a slightly lower price. The price of a property in popular tourist destinations such as in Bali tends to be stable or increase. But there are moments when property prices tend to boom. When the property market is sluggish, property prices in Bali never fall dramatically. For that, choose a time when the property market price is flat.

The Importance of Separating Business and Personal Finances

If you are planning on running your own business, learning more about finance is a must. Finance is one of the most crucial factors in business. When your business is not supported by adequate finance, it is harder to reach your goals. Thus, learning more about how finance works in business is necessary.

One of the most important fundamental in running a business is to separate business and personal finances. Lots of people underestimate this factor. However, the impact is powerful for your business even if it looks like a simple detail.

Separating business and personal finances

It is important to understand that separating business and personal finance is indeed a big deal especially when you are the owner or the founder of the business. Getting finances mixed up for both personal and business use can cause so much troubles in the future.

You may not see any differences in the beginning. However, the bigger your business grow, the more complicated it will be if you mix business and personal finance in one setting.

Why separating personal and business finance

Separating business and personal finance is not about personal preference because it leads to legal consequences in the future. It is not only a simple stigma. If you mix your business and personal finance in the same place or setting, there is higher risk of your personal finance to get dragged when something bad happens to your business. Your personal asset will be absolutely at risk.

Remember that running business means there is a chance for you to make mistake that can cost in fines or penalties. If the mistakes involved your personal or business taxes, it positively results in fines or penalties. There is no way of your personal finance can escape from this consequence once it is mixed up with your business finance.

Lack of separation between business and personal finances indicates potential concern to your business. People who are involved in your business will be more hesitant because your business is in higher risk. This can also happen to those who are interested in developing any professional relationship with your business. They will see your business with more concern that can result in them backing away.

Meanwhile, separating your business and personal finance can result in more benefits to gain such as transparency and accuracy. You won’t have to deal with unnecessary headache due to your business and personal expenses getting mixed up. It will be easier for you to keep track of your both personal and business expense.

Separation of business and personal finance also results in positive cash flow management, which is very crucial for your business. You will have clearer and better picture of every factors influenced your business. In addition, it will also make you easier to manage tax fillings. It makes everything simpler especially when you have to file taxes and claim deductions.

The process will be more efficient and the less mistakes you possibly make. It also results in better documentation to provide for your business management.

The Skills You Need to Run Business Properly

Starting and running a business even the small one cannot be done carelessly because every step you take has its consequences. Every decision you make for your business to grow has risks as well as potential rewards. Knowing the weigh and the risk of every decision will help you to grow your business. However, you need the right skills to do it. You need to identify what skills that will be help improving your ability to grow your business. Being able to operate day-to-day operation is what you need to achieve so the distance to reach success can get closer as well.

Business skills to possess

Keep in mind that skills can be learnt. Thus, even if you lack of business sills right now, you can always start learning and drive yourself to improve further. Here are some basic skills you need to run your business properly:

The Skills You Need to Run Business Properly

Leadership is important skill you need when you are planning on running your own business. You may do everything by yourself in the beginning. However, it cannot be denied that the bigger your business grow, the more people you need to manage it. You need to build your own team and you will need to lead them to do their task so your business will run smoothly under the right hands.

Communication skill is also important to run a business no matter what type of business is in your plan. Running business will involve some interaction and transaction. It means, you need to be able to deliver your message and listen to the others as well. Communication skills also include negotiation skill. Negotiation is a key in running business so you can get the best deal. In addition, it communication skill is related to networking because building relationship in professional sense can help growing your business.

Financial management for business is very crucial. Business involves money no matter how significant the amount is. Money is the support. Having financial management doesn’t only mean you need to create huge profit in short time. It is more how you manage your financial setting to find balance. You should learn this skill from the beginning so you know what to do with the money you have to fund your business.

Marketing skill is also essential for running a business whether you offer products or service through your business. You need to promote them effectively and attract clients as many as possible. You need to be able to identify what they really want from your products and services. By having marketing skill, you will also know what strategy to generate sales effectively.

Problem solving skill is not less important than other skills to run business properly. Running business means you will encounter obstacles and challenges. You need to have rationale thinking so you will be able to find the right solution for every problem arise during your journey in running your business. In running business, working hard is not the only key to achieve success because you also need to work smart and be creative in finding solution.

Do You Need Professional Bidder to Purchase Property?

Purchasing property for personal use or investment can be challenging especially when you don’t much about property market and how it works. No matter what the purpose of your purchase is, you need to use your money for good.

Financial loss is not a pleasant thing to experience when it comes to property investment. One of the most common places to purchase property is auction. That’s where you can find potential property to buy that can meet your expectation. However, bidding is not an easy thing to do either because you need to make sure that you bid the right price for the right property.

Lots of people are not confident enough to engage in property auction and bid. That’s where you need professional bidder.

What professional bidder can do for you?

How professional bidder can help you purchase property?

Lots of people thought that professional bidders are only for the wealth. Well, it is not entirely true. You see, when you lack of experience in bidding at property auction, professional bidder can do great at it because they have experience and skill of course. Therefore, engaging professional bidder to help you buying property at auction can be good decision to take.

Professional bidder can help you finding the right property that fits your preference. This is a hard task to do because for beginner, it will be hard to identify which property that fits their preference. Meanwhile, professional bidder have experience and skill to do it just easily. They also have knowledge of the market so they know which property that fits you and your financial situation. They will consider everything thoroughly including your lifestyle, budget, etc.

Professional bidder buy with logical thinking and clear estimation. They won’t need personal feeling to identify which properties that suits your preference. By any means, it is easier for you to use emotion in bidding because you might think of your future and start picturing how you and your family in a home. Meanwhile, professional bidder will make sure that decision made by strategy. They will consider the merits and features of the property to see if it suits with what you need.

Professional bidder have knowledge, experience and skill so they can develop effective strategy in securing the right property for you. Since they are used to the auction mood and all, they know what strategy to use to make effective bid and successful purchase. They will also make the most of your budget so you can get the right property within reasonable price. They will make sure you are not about wasting your money.

Remember that bidding is not the final step in property auction. You still need to negotiate and that’s when professional bidder takes action for you. They will take action on your behalf to secure the property that is right for you. The process of negotiation can be tough because the seller also aims for the best deal. You may get intimidated if you are not confident when negotiating so the help of professional bidder in this matters a lot for you.