Running a small business from the scratch is full of challenges because there is no such thing as instant success especially if you want it to run for a very long time while being successful of course. And of the most challenging things to do is to raise awareness of your small business. However, it is best that you start from your local community instead of aiming for something too bigger to reach.
Increase you business visibility within your local community
It is best to start low go slow when it comes to building business. Enjoy every process step by step and you will see the result. To increase your small business visibility, you need to be a trusted business in your local community first. Why? It will help a lot in driving your sales while having steady support from the local community. Here are things you can do to raise awareness of your small business in your local community:
Know your audience
The most important thing you need to do is to know your audience, figuring out what is important for them, then find a way to highlight the aspects of your business that align with those values. By knowing your audience, you know what kind of message to deliver, that aspects to offer, and make it as personalized possible to their needs. It is great to find personal connection with your local community because it can be your ticket to build something that is relatable to them. It also allows you to find how your business can benefit the community even better.
Choose the right outlets and reporters
It is important to get good coverage but it is not so easy to do it because you need to find the right people and outlets first. For example, you need to find local outlets that will help broadcast your business and highlight it in the best way possible. Or, you may prefer print instead of broadcast to get good coverage about your small business. Both have their own advantages. It is best to do your own research before choosing one. Or, you can also choose both but it means you need more effort to do it right.
Build direct involvement with local community to keep the momentum
Promoting your small business to the local community is not enough especially if your aim is for long term success. You need to keep the momentum by delivering updates of your small business. You can do it with a reliable reporters you can call from time to time so you get steady exposure. Or, you can also build direct involvement with your local community through various ways such as philanthropy. This way, your story continues to evolve within your local community.
Driving awareness of your small business in local community is not something impossible to achieve if you know how to choose the right people and outlets to deliver your message to the right audience. Eventually, it will have good impact to your bottom line.
Are you considering buying an investment property in Bali? Real estate has produced many of the world’s wealthiest people, therefore there are many reasons to assume it is a good investment.Especially when you think about Bali, a popular holiday destination where holiday makers come all across the globe. Investing in real estate in Bali could be your first step for wealthier future. Experts agree, however, that it’s best to be well-versed in the industry before committing hundreds of thousands of dollars. Here are some things to consider and research before taking the big decision.
Learn About All the Costs of Owning Real Estate in Bali
Real estate is never a cheap investment. Property can be costly to purchase outright. However, if you have the means or are ready to take out a loan, it can be profitable. It’s not as simple as buying a house and waiting for it to earn money. Basic maintenance, yearly upkeep, improvements, and expenses like as electricity and taxes are all factors to consider.
Think About the Type of Property You Want to Invest
So you’ve saved aside some money for real estate investment in Bali. You must now choose the type of property in which to invest. You have the option of purchasing commercial or residential rentals. You can rent out a home or an apartment as a landlord. You can rent out your home on Airbnb or as a vacation rental.
After you’ve decided on a property type and location, you can work out the details of your investment. Know that you will need to keep a running budget for your investment. Calculate the rent and other fees you need to pay. Put yearly bills and emergency savings in your equation. Is the cost of utilities included in the price? Keep in mind any fees and the amount of money you’ll need to maintain your investment.
Do You Need to Hire A Property Manager?
If you plan on having homes in multiple places, think about using the service of a property manager. The idea is to make this choice ahead of time so you aren’t surprised when the bills start to mount.
Think About Growth of Value When Buying Property in Bali
When you buy a house in Bali, you may eventually want to sell it. Especially when you might need to go back to your country for good. You’ll want to make a profit whether you sell it right away or retain it for a while. You want to get more money for your house when you sell it than you paid for it. Simple improvements or additions can boost your home’s value. You will be able to sell your property for a better price if you raise its worth, and your hard work will be repaid handsomely.
Is it better to pay cash for your investment property or to take out a loan? That is dependent on your investment objectives. Paying cash can help you have a positive cash flow month after month. Take, for example, a $100,000 rental property. With rental revenue, taxes, depreciation, and income tax, the cash buyer may earn $9,500 per year on a $100,000 investment, or a 9.5 percent annual return. Financing, on the other hand, can provide you with a higher return. After operating expenditures and additional interest, an investor who puts down 20% on a house and compoundes at 4% on the mortgage earns around $5,580 per year after factoring out operating expenses and additional interest. So think wisely before buying any property here.
Are you ready for your first real estate investment in this gorgeous tropical island?
It is often that you find some people who work so hard to the point they don’t have time to rest but they are still not achieving their success. Busyness is something common and no one ever complain for not being busy enough. It comes in many forms but it is not a synonym to success or a least producing the result we really want.
Simplifying the path to achievement
The key to produce the result you really want to simplify your path to achievement. It prevents you from making things more complicated than necessary.
It is often that in order to achieve the goals you want, you over think. It results in more complicated problems and solutions than necessary. In the end, you waste your time doing something that can be done faster if you do not overthinking things in the first place. Hence, always stick to something simple, as long as it solves the problems more effectively and efficiently.
Make your goal as clear as possible
Simplifying your path to achievement includes setting clearer goals. When your goals are too vague, you will only make something hard out if it. In fact, it will make you impossible to complete the project. If your goal is to complete the project brilliantly, all you have to focus on is your clear goals. With clear goals, you get clears paths of how to achieve them. This way, your end point is more defined to reach.
Deal with overloaded information
Today, the access to information is so easier than the past times. However, not all information is what you are looking for to achieve your goals. What you need to do is find information that will become knowledge for you. Then you turn your knowledge into wisdom that you know what to do with. Accessing information is not your challenge. It is how you can connect the dots between information and that’s the point of how you simplify your path to achievement.
Invest in automating your most mundane but essential tasks
Many people still think that automating means you put less effort to achieve your goals. However, the point of simplifying your path to achievement includes knowing what resources to use to benefits you later on. Automating your most mundane but essentials task doesn’t mean you are being inauthentic with your work. It means you provide easier access not only for yourself but also to others.
Focus on what you have
If you focus on what you lack, you lose what you have and it is very true in every sense. When you focus on what you have, you will get what you lack because instead of making you complain, it makes you work better to find the better and faster solution. It also means that gratitude is a very powerful element to use to simplify your path to achievement. It generate more positive, self-sustaining system regardless of where you are or what you work for.
With every year passed, Google has been an integral part of our life. It’s no longer a search engine and mailing tool—it now covers our needs for navigations, photo storages, digital image tracking, and even recommendation. Property owners, in the other hand, can be majorly benefited from services like Google My Business. GMB is a free, multi-featured business listing that allows local companies to manage their visibility on Google Search and Google Maps. Google My Business is similar to listings on online business directories like Yelp, except it appears immediately in Google and Google Maps search results, eliminating the need to visit a third-party site. So, if you have property business like villas in Seminyak Bali, listing your vacation rental in Google My Business could help you win in the saturated market.
Google My Business Make Your Bali Villas Seminyak Visible to Potential Guests
Some property managers claim that Google My Business (GMB) generates more than 10% of their reservations.When performing a local search, GMB listings might appear in a variety of areas. Property managers may use GMB to rank their short-term rentals ahead of listing sites without needing to learn SEO. Being featured in these results increases the number of impressions for owners of villas in Seminyak and other areas of Bali. This, in turn, help them to rank higher in organic search results.
Most importantly, GMB enables property managers to be listed before popular vacation rental listing sites like Airbnb, HomeAway, VRBO, and others in organic search results. This improves traffic to your website, increases direct bookings, and reduces listing site costs.
How to Create Google My Business for Your Villa Seminyak
It only need less than an hour to create a Google My Business profile for your Seminyak vacation rental. Here are the steps and tips on optimising your vacation rental GMB for maximised result.
Head to google.com/business, and click the “start now” button. You will be directed to a profile creation page.
Write down your business name. Usually this is the name of your villa. You can add a bit of flowery words to help you distinguish the vacation rental. Examples of these are; “Romantic Honeymoon Bali Villa, Luxury Suite, Seminyak Private Villa Bali”, and the likes.
Filling Up the Details of Your Seminyak Villas
Enter the address of your villa as accurate as possible. Follow up with your local phone number that actually works. Don’t forget to include the business hours!
Add the Link
Have your own website? Don’t forget to add the link in your GMB listing. Having a website link in your GMB also makes your property look more legit and trusted.
Add Selling Description to the Listing
You have 750 characters to convey a complete description of your GMB listing that includes the most important information for your guests. This is where you may utilize those important keywords that you want to get discovered for. If you have properties in other cities, include them in this area. Think about this description as meta description of a webpage that will hook reader’s attention to click your page.
Photos speaks more than words, and sometimes potential guests jump into photo categories for a quick glance of the property. No one can deny the importance of pictures in the vacation rental business, especially when promoting online. These are the first thing that potential visitors see. Choose one image of your home that highlights the unique selling point of your Seminyak villas Bali. Your profile image is the first thing that searchers see when they come across your property. So, consider what makes it unique in the market and choose one image that best reflects that attribute. Add an additional ten photographs of your property. Remember that photos are like two sides of the same coin. While bright, standard, eye-catching images of your home attract more visitors, low-quality, unprofessional photos send them away in one second.
Small businesses are greatly impacted by the pandemic that hit hard in 2020. even until today, there are still many business that are unable to get back on their feet. One of the reasons for small business not being able to go back to the way they were quickly because of smaller pools of resources to fall back on. Hence, the key to keep going is flexibility. However, it is not easy to implement flexibility on small business either because you have to know how to do it to your advantage.
How small business keep evolving through hard times using flexibility
Along with so many fallen small business since last year, there have been innovations in response to the challenging circumstances the pandemic brought. The best thing you can do to your small business is to see big changes as as opportunities to evolve. And here are ways you can do to implement flexibility on your small business:
Always be prepared to pivot for the unexpected moment
Regardless of the pandemic, every small business should be more prepared to pivot so they can be more ready facing any challenges that may come unexpectedly. As mentioned that small businesses have smaller pools of resources to fall back on. Always have a planned ready for when the unexpected hits. Imagine many different scenarios that probably happen to your small business. Hence, you won’t be thrown off guard when the curveballs come. It is how you implement flexibility on your small business. You plan your main strategies tor each your goals from the start but also prepare for the alternatives.
Implement flexible thinking
It will be harder to implement flexibility and pivot if you don’t have flexible thinking. To train your mind to adopt flexible thinking, it requires openness and exposures to new ideas. Hence, it will be helpful if you stay informed about what is happening inside and outside of your industry. You can get it from any sources such as online articles, news, and trends that are easy to access on daily basis. However, do not forget to balance it by going off-site from time to time to get different headspace. You can talk and open discussion with others such as leaders, entrepreneurs, consultants, or fellow entrepreneurs. You will get diverse perspective to help you open your mind. Hence, you can find the true potential to grow your small business even bigger.
Find out what makes your small business standout
Take advantage of something that makes your small business standout from the competition. You need to identify your strength to amplify them. You can also discuss and brainstorm with your team to dig more information and data of your business’s strength. Then, it is a must to focus on making impactful offerings after identifying your strength. This way, you know what to offer to bring joy to your community and drive more customers to make purchase from you. Also, make stronger connection and manage growth by turning to digital tools since the world keeps changing.
Being one of the most popular destination in the world, Bali offers a promising numerous business opportunity. One of the most lucrative is Bali luxury real estate, as a result of the booming tourism industry on the island. A well-managed luxury vacation rental may be a surprisingly profitable investment, yielding six-figure dividends and million-dollar capital gains.
In reality, because of the considerable tax benefits available to them, a luxury vacation house operated solely for investment purposes and generating rental revenue might have a very low tax obligation (i.e. like depreciation deductions). A luxury vacation property, when properly maintained, can outperform any other sort of investment in its class. However, gaining profit from Bali luxury real estate is not easy. In fact, you need to prepare a very through business plan before diving into real estate industry.
Building A Business Plan for Bali Luxury Real Estate
Identify Your Bali Luxury Real Estate Business
It’s critical to lists as much as information about your business, such as what your business is, what your products/services are, who your consumers are, and what your goals are, when you construct your business plan for a villa using the free business plan template. A thorough explanation of the products/services offered by the villa business, as well as the prices you intend to charge to generate revenue, is critical to ensure a well-developed business plan.
Establish Your Expected Revenue or Income
Knowing your expected revenue is very important in every business plan. Even more when you are playing with big investment such as real estate and vacation rental business. In your business plan, list out all of your products and services that you are planning to include in your vacation rental, calculate the operational cost, and establish the profit you want to gain. You will find the appropriate financial figures which will be your expected revenue.
Decide on Your Market
You will need a strong understanding of the market, industry, and competition of luxury real estate market in Bali. A comprehensive knowledge about these can assist you in taking your company to the next level. In your business plan, give details about your business’s location, give facts about your clients, show off your rivals, and explain how you’re better than them.
Plan the Future of Your Luxury Real Estate in Bali
It’s critical to get your Villa business off the ground, and it’s also critical to explain how you aim to achieve success with your business in order to create a sound business strategy. This entails presenting your marketing strategy, sales strategy, and a growth strategy for the next few years. Break this down step by step to explain how you plan to ensure that your Villa business grows year after year. Keep in mind that business plans are frequently centered on key individuals. Make sure to talk about yourself, your role, and any other important players in the company.
The Financial Plan
It’s critical to get your luxury real estate business in Bali off the ground. In the meanwhile, it’s also critical to explain how you aim to achieve success with your business in order to create a sound business strategy. This entails presenting your marketing strategy, sales strategy, and a growth strategy for the next few years.
Keep in mind that business plans are frequently centered on key individuals. Make sure to talk about yourself, your role, and any other important players in the company.
To run your business successfully, you need to pick the right strategy to make your brand standout from the competition. It is not only a brand that shows who you are at one point in time but also who you aspire to be. Your brand is what can connect you with your customers. However, keep in mind that branding is not only about choosing the best logo, making pretty website, or make flashy campaign. Those factors are important to help you build your brand but the most important thing is about telling the truth about your company and remaining true to that.
The roles of your company’s online visibility to success
When it comes to branding, the most important factors to implement is honesty. It is the thing that your customers will love about your brand the most. With honesty comes trust that will be the reason they are loyal to you. It is important that your brand is not the representation of problem solver but also of authenticity and transparency. In this case, your company’s online visibility plays huge roles in deciding your success.
Being online is essential because it is where customers spend most of their times on daily. Hence, it is the best place for you to build your brand’s online presence. Hence, be strategic about it so that your customers will be attracted to get to know your brand better. You can do it by considering these three important things:
Before any social media, website was the only online platform many brands use to build their visibility. It is where many companies put their best at their marketing strategy. Today, there are many social media platforms where you can reach out to larger audience. However, keep in mind that website is still your main workhouse. Customers who want more information will visit your company’s website. Hence, it is strongly recommended that you improve your website through its contents and functionality. Make sure it is easy to access and have various aspects your customers might need.
Reviews from customers are valuable data you need to improve your business. In the past, business relied on word-to-mouth marketing strategy. Today, reviews are the same thing because customers usually read the reviews before deciding on their purchase. Hence, encourage your customers to review your brand. It is normal to find few poor reviews. However, do not ignore those but reach out to those customers so you can gather more information about what you can improve and how to help them solve the problem.
In business industry, PR is considered the best advertising money can’t buy. To keep up with today’s trend on digitalization, it is strongly recommended that you consider digital public relation to increase your brand’s online visibility. Digital PR can help in distinguishing your brand and provoking a sense of authenticity that can build customers’ trust. Implement your digital PR strategy with a goal of gaining their trust by increasing more positive online visibility across industry, mainstream, and nice platforms.
As we were kids, we would always grumble when older people told us they didn’t like our attitude. We would see it as them being annoying. We would also told them back to quit complaining. Good or bad attitude is often seen as important element to apply in general life especially when it comes to relationship. However, attitude is just as important in running business. Good or bad attitude can affect business in many ways.
Why attitude is impactful in business
It is important to have good attitude no matter where you go and regardless of who you are facing at the present. Your attitude should be in the right place. And in business, it is just as crucial. Here are the reasons why attitude is such an important aspect that can affect your bottom line:
Skills can be learned but attitude can not
Most companies choose employees who meet the required skills and it is not wrong. However, relying solely on that aspect won’t guarantee benefits for your business int he long run. If the candidate misses one skill or two, you can teach them and they can learn to master the skill. However, attitude cannot truly be taught. So if you find a candidate with good attitude even with missing one or two skills, then they are still better choice.
People with positive attitude are willing to learn
The reason why you should hire people with positive attitude is that they are always willing to learn. They like trying new things and are not afraid to make mistakes as long as they can learn from them. In business world, nothing is truly certain. Unexpected things may happen anytime and people with good attitude won’t avoid the situation. Meanwhile, people with negative attitude are more likely to avoid any uncomfortable situation. Hence, they rarely grow better than they first started.
People with good attitude is a major benefit for your business
It is because they are always motivated to learn even if it takes time for them to fully master a new skill. Once they master it, they will become a major benefit for your company. Their contribution will be one of the most valuable assets your business can rely on in the long run.
Attitude is something infectious
Whether it is positive or negative, attitude is infectious. So when you hire a person with negative attitude, she/he may infect the others. What about people who have positive attitude? It is also infectious but negativity is easier to spread. Hence, always keep people with positive attitude to infect each other positively.
Positive attitude is more agile in every situation
In running business, challenges is not an ‘if’ but a ‘when’. everyone should always be ready with any challenges and hurdles that come in the way. People with positive attitude will always look for meaningful solution in a form of long-term answer. People with positive attitude see problems and obstacles as opportunity to grow more.
The infamous Covid-19 pandemic that cause massive global lockdown has severely impact travel industry, including short-term vacation rentals. Now that almost two years have passed, the pandemic is showing little signs of stopping. By 2021 travel restriction has not been lifted and now villa owners need more efforts to market their rentals than usual. This can be challenging as owners of private villa in Bali, where most of the customers are foreign travelers. But don’t lose hope, because it’s possible to you may be able to retain or even increase your bookings. A clever and on-point marketing strategies can make difference and here’s how to do it right.
Discounted Stay Offer at Your Private Villa Bali
Discounts and special offers are excellent strategies to persuade and incentivize travelers to book with you. Consider providing discounts based on the arrival date and duration of stay. This can be used to target both early and late-bookers, as well as anyone looking for a place to stay. In the title and description of your item, mention your discounted prices.
If customers want to cancel their reservations, you can try to persuade them otherwise by offering them the option of rebooking at a later period or moving the reservation to the same dates in 2021. To bolster their decision, give discounts or special offers for specified days.
Focus on Domestic Travelers
There has been a decrease in travel as a result of the COVID-19 virus outbreak. Fewer foreign visitors are eager to travel abroad, and some countries have closed their borders, such as the United States. That is why you should concentrate your efforts on domestic travelers.
Localise Your Target Market
Aiming for domestic travelers are essentials when international travels were restricted. However, not everyone can fly out to Bali in this trying time and those who do still need to go through complicated regulations to be eligible traveler. Not to mention if the government decides to change the travel regulation all of sudden. That’s why it’s good to put extra attention to the immediate locals and focus more on “staycation” market. People still want to get away from it all, even in these difficult times. Especially those who still have steady income yet get more burden from the pandemic.
While many people have postponed or cancelled their trip plans for the near future, others are exploring for alternatives in their local area. And having a private villa Bali ready for their short getaway just 30 minutes’ drive from home will sounds convenient. So this is a good moment to concentrate on your drivable marketing by providing them a “holiday” just down the road.
Schools are closing, and businesses are either shutting down or allowing employees to work from home, offering an opportunity to spend time with family in a fresh setting. Now is the time to think about other options. While maintaining social distance is critical, you should consider giving your guests with what they require in order to keep your business afloat. When the situation calms down, providing a private, risk-free area where they may spend their holiday throughout the quarantine period will put you ahead of the game.
Transform your vacation rental into a “ideal “work from home” refuge for secluded vacationers. Create a nice working atmosphere by adjusting the area, providing a comfy office chair, and set up a working station. Make sure that you have a stable WiFi connection and highlight that as one of your strongest amenities.
Market Your Private Villa Bali to Remote Professionals
Many organizations permitted their staff to work from home during the Coronavirus Pandemic. Nearly half of the population now works from home. A recent trend is for guests to rent vacation houses as a place to work from home. Instead of being cooped up in a cramped city flat, they receive a change of scenery and, in many cases, greater space to spread out. Large outside spaces allow children and pets to run about freely while parents work in a quiet environment. This is fantastic news for those owners of private villa in Bali. Villa provides the ideal setting for remote professionals to work with the right setup. For instance, they could set a private workplace with no families to distract them, and a wide backyard to roam around freely without a mask. These remote workers are also much more likely to book vacation rental homes for a month or more at a time. They find that not only are they getting more work done, but they can relax and reset at these quiet locations.
Don’t Stop to Advertise Your Private Villa Bali
Just because people are no longer traveling and flying across countries, that doesn’t mean that you should stop advertising. Keeping your message in front of new and returning guests is critical during this period, but so is ensuring that it is responsive to the current circumstances. Guests will use their free time to research and book travel choices for when it is safe to travel again.
With more time spent on gadgets and on social media, alternatives such as email collection forms on social media and clicks to booking pages are becoming increasingly important for connecting with new guests and initiating conversation.
Consider sending emails to previous guests to encourage them to make reservations. You should also consider social media advertising in addition to email marketing. Create coupon codes for your website and distribute them, along with other promotions and discounts, on social media to increase your company’s visibility and, as a result, reservations.
2020 was a year full of major shifts and uncertainty. The impact of the global pandemic are still there haunting everyone including business owners. It is also predicted that even with how vaccines are being distributed, the shifts will remain in 2021 and years ahead. 2020 was when you did quick pivots. However, this time, your business pivot should be based on insight and purpose not only gut instinct.
Navigate through difficult situation with insightful and purposeful choices
In the past year, you probably made quick decision based on the circumstances. Many of them were made in such a hurry just based on survival instinct. However, you need to determine things based on insight and purpose in 2021. it is time you make decision that will help you to navigate your business better and move forward. Here are what you can do:
A dynamic decisions
Make decision that can help you move forward not stay stagnant. Sometimes, you need to be more flexible to do so because some people are being too romantic about their ideology that they refuse to change their model business even if it’s for the better. Remember that when you are being dynamic, you have more flexibility to move as you wish. You are presented with more choices and alternatives. It helps you make the best decisions in real-time so you know what you need to become in the moment and in the future.
Your people are your priority
When you put your people in one of your top list priorities, you will be careful when making decision. You will not carelessly make decision that can put them in bad place. Drastic measures such as laying off your employees during crisis can bring negative impact to them. When they are your priority, you will think of more possible plan such as enacting short-term furlough and promise to bring them back to full-time status soon as the situation gets better. Act of solidarity will impact wonderfully. Your employees will take their part and you can fulfill your promise with ease.
Company culture first
Stick to your company culture since it is your foundation. During crisis, company culture will help guide you to make the best decision. Company culture is important driving force for business. Even though it is something hard to maintain especially during crisis, it is also the thing that can keep everyone stay strong together.
Pivoting on WFH situation
It has been a year that work from home policy being applied. Many shifts and challenges happened but those who can pivot well are those who can survive and thrive. Work from home sounds easy but there are so many spoken and spoken struggles everyone have experienced. Again, the way you pivot is important to make any transition runs smoothly. Even if there are bumps, at least everyone can stay safe without so much bruise.
It is why making insightful and purposeful choices are crucial when running business especially during crisis. In 2021, your business pivot will determine how you will do it in months and years to come.