The Idea of Collaborating With Your Business Competitors

Collaboration is not something new in business. Most collaboration happens because the parties involved feel connection or same goals. With the same vision, it is easy to make collaboration. However, have you ever thought of collaborating with your business competitors? It is not so pleasing to hear because ‘competitors’ mean your ‘rivals’ which means you should compete each other to prove who’s better than another. 

Collaborating with business competitors

Collaborating with competitor is not actually new in business. People has already had the term for it which is called ‘coopetition’. It refers to collaboration specifically between business competitors. Lots of people worry about the risk of clash and betrayal when it comes to collaboration with competitors. It sounds so daunting so that’s’ why not all business owners are brave enough to take this decision. 

The Idea of Collaborating With Your Business Competitors

However, there have been studies that showed the advantages of this type of collaboration which outweigh the disadvantages. This type of collaborative competition has higher chance to reduce company costs more than a 50%. However, the percentage is possible if the collaboration itself can last to three to five years or more. What’s the reason?

Reduce Business Expenses

Business professor and experts state that the best partner might be your direct competitors nowadays. It is because competitors face the same problems and struggles in the industry so they use similar technologies and resources. They tend to face similar challenges in general. That’s why collaboration can be a great solution that can help them reduce the cost of their business expense such as in the matter of product development, innovation, and manufacturing. Collaborating in those areas can help them save their money from excessive spending. 

Join Forces to Face Challenges

Collaboration might be a contemporary idea but if it’s been proved to be advantageous to do. It might be hard to accept the idea. However, it won’t be a problem if you try to be more open-minded with the idea. Running business means you have to use your logic more instead of personal feelings. Just because you have competitors doesn’t mean you can make successful collaboration. Basically, you and your competitors face similar things in general such as product development, manufacturing, etc. It is a great start to join collaboration because you can join forces to find effective solution. 

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A Win-Win Solution for All

Another reason of why collaborative competitors have high chance to success is that because the main principle of partnership itself is win win situation. Thus, there is nothing wrong with collaborating with your own competitors as long as it benefits both parties. Of course, this type of collaboration also has its own arrangement. However, every arrangement can be set by both parties to create peaceful harmony during the collaboration period. 

It’s Not A Must

However, it is also important to remember that collaboration is optional not obligation. When you find it useful, you can do it. You can also choose which parties you want to collaborate with. Collaborating with your business competitors is also optional. Most business owners choose it as a last resort but try to not close your mind to the idea because it might benefit you someday. 

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Barriers for Successful Business Development

Business development is important step because it can get your business on another level if you do it well. However, it is not a simple job to do either because there are risks, challenges, and barriers which can make the process more complicated. The good thing is, there is no need to be in a rush in attempting for business development because it is not something to be achieved overnight anyway. What to do is to make thorough plan to make sure everything is included into detailed and the process goes smoothly. There are barriers in which make the process of business development more challenging. Most business experts stated that the majority of barriers come from the internal. 

Find out barriers of business development

Internal barriers appear to be the most challenging subject in business development. It is not surprising for the business experts to find out about this information because they did their own research about it across the world. Here are several internal barriers of business development you should know about.

Barriers for Successful Business Development

Poor communication

Communication and everything in between is one of the main problems of business development. Communication is the key of successful business. When your communication with your team is not well-managed, it can cause other problems which can lead to misunderstanding, misplaced responsibilities, and many more hassles. That’s why it is important to plan business development idea and share it with the important stakeholders in the company so everyone is on the same page. 

Blurred roles and responsibilities

It’s also one of the biggest the barriers that can distract the process of business development. It is important to delegate roles and responsibilities properly. Every individual has different skill or expertise. Thus, they should be given role and responsibilities of what they are good at. It is important to not mix more than one role to an individual especially without their consent because it will only make their job inefficient. 

Read More: The Right Traits to Become Successful Real Estate Developer

Spending too much time in meetings and call

It is established that communication, partnership, and networking are important factors for business to grow wonderfully. However, they can also bite back if you do them in unbalanced proportion. Meetings and calls are important to maintain communication and to keep everything in check. However, holding meetings and calls without springing into action will only be a waste for the progress of business development. That’s why everything that is out of proportion is not good. 

Issues with trust and ethics

This barriers come from internal environment. When you lead your own business to grow, you need to work hard. However, you also need to work together in team to reach your goal wonderfully. Independency is important to grow your mental strength but you also have to know when to ask for help. In developing business, it is full of challenges and some of them are out of your reach. Thus, trusting your teammates are wonderful thing to do because it can benefit your business in the long run. Trust is important for successful teamwork as well as business development. 

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Increasing Flexibility in Your Small Business

Running a small business is a good start to reach successful life. It is not an easy path but brings you more opportunity to grow bigger. Small business is promising especially when you can do it right. One of the most important qualities to grow your small business successfully is flexibility. Being flexible is important when running your own business because you live in the world where everything changes rapidly and unpredictable. Being flexible means you are always prepared in facing any situations. Business landscape face constant changing no matter how you despise it. 

How to increase your flexibility in business

Increasing flexibility when running your own business will bring benefits such as increasing efficiency and productivity. There are several ways you can increase flexibility in your business. Lots of entrepreneurs do the exact opposite when they are over-committed. Committed to your business is a must. However, doing it excessively without giving a room for flexibility will only lead you to failure. Remember that you can still be flexible without ruining your disciplines and goals. Here are several ways to increase flexibility in business:

Let your employees think as entrepreneurs. Just because you are the one who own the business, it doesn’t mean you are the only one who can find solution of problems. In fact, you should allow your employees to have that responsibility as well. Give them space to find solution of problem. This will allow their creativity to improve. It will also benefit your business in general. This way, they will be able to improve their flexibility. They will be stronger when there are unpredictable situations or changes. 

Increasing flexibility can be in a form of giving your employees option how they can finish their works. For example, you may allow them to finish their work at home as long as it meets the deadline. If they have situation that requires them to stay at home, you may allow them as long as they don’t neglect their responsibilities and commitment. 

You can be more flexible in work management. For example, you hire virtual assistants for more efficiency. In addition, this kind of method allows you to reduce the expenses of your business. Thus, you can allocate your budget to other more important matters that can help increase your productivity. This is the example of how flexibility allows you to find efficient and effective solutions for better results. This is is how you take every opportunities to make the most out of every potential. Thus, your small business will grow faster than your competitors. 

Do not limit yourself in one option or trend. Technology allows you to know what’s trend today. However, it doesn’t you should follow them to show your flexibility to changes. In fact, it should allow you to think strategically in choosing what moves you should take. You need to know what kind of strategy that works best for your business. Flexibility is important but you still need to do it with planning. Only then, your small business will show significant progress. 

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Long Term Bali Villas For Rent With Affordable Price

Bali villas for rent has become a trend. The needs of the villa are not just for accommodation while on vacation but also a temporary residence for expats. Not a few local investors who deliberately look for long-term Bali villas for rent to re-lease to foreigners or tourists, both short-term or long-term leases. In fact, the villa rental business is booming considering that a lot of discerning travelers choose affordable accommodations with exceptional facilities.

Bali Villas For Rent

Bali Villas For Rent For Peak Season

Many suggestions for tourists, come on holiday to Bali during peak season in order to cut the budget. In fact, Bali doesn’t know the season. Tourists always come and go throughout the year and are a factor in the high price of accommodation. But don’t worry because it will be very possible for you to get Bali villas for rent at an affordable price. You can spend time on the internet searching for price comparisons to adjust your vacation schedule.

Private Villa Bali For High Season

Imagine when you have to share hotel facilities with other guests. It will be very annoying when you are looking for a peaceful vacation. This is why many tourists choose Bali villas for rent to fulfill their vacation destinations. The best way for a comfortable, quiet and luxurious vacation in high season is to search long before your holiday arrives. Most tenants have been careful in determining prices during high season. At the very least, you can get lower prices than if you place an order before the high season.

Long Term Bali Villas For Rent

Many destinations people look for a long term villa. One of them is for the temporary residence of expats. Bringing families away from home countries might be a little difficult, especially looking for a comfortable “home”. Most expats who work for more than 2 years looking for villas because they are equipped with super complete, modern and best facilities. This makes the reason why the construction of villas in Bali is a very promising business.

In fact, it is indeed very easy to find a long-term villa in Bali. Considering Bali is a world tourist destination, there will be many comparisons to find the best at an affordable price. For business people, the villa is the right place to gain profits by renting a villa then renting it back to tourists or expats. Choosing Bali villas for rent carefully and smartly whether it is for the short term or long term is important in order to cut the budget lower.

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Enhancing Your Creativity As Entrepreneur

Creativity is essential for entrepreneurship. If you want to be a successful entrepreneur, you need to have creative mind. Being stuck in conventional way of thinking won’t get you anywhere. Creativity is such an essential asset for entrepreneur because business always face changes. It is unpredictable that you need creativity to adapt to any circumstances and find solutions for every problems. Creativity is strongly related to inventiveness. However, it is so much more than that. It is beyond original ideas or imaginations. It includes how you can bring tricks to the table as well as how you use it to work together with your instincts. 

How your creativity can be enhanced

To be creative, you need to let your mind think out of the box. You have to use different perspectives so you can see thing larger and clearer. You should clear the fog in your mind and allow your creativity to take over. Using creativity is challenging because you need to be brave enough to implement things you have in mind into actions. 

Enhancing Your Creativity As Entrepreneur

Explore More

To enhance your creativity, you need to explore more. When you stuck in the same things or routines, you will lose your creativity. It will become dull. Meanwhile, more exploration will allow you to know, and experience many things, forcing your mind to work it its full capacity. While exploring, you also have to observe and analyze. Another thing you can do to sharpen your creativity is to talk with people more people, especially those who are successful and inspiring. It allows you to open your mind and see everything in different perspectives. 

Set Visions

Always set a vision and not only weekly or daily plan. You have to make sure that your vision is always evolving. Brainstorm ideas no matter how crazy they sound. Then, you can sort them out and choose the one you think is the best. Instead of making things perfect, improve them. When you aim for improvement, your mind will be able to think creatively. You can also listen to others more because when you are creative, you will be able to take inspirations from others by combining and transforming them. It will lead you to new light. 

Read More: Creating Professional Look to Your Business

Get Out from Comfort Zone

To enhance your creativity, you should be brave to be out of your comfort zone. However, it is also said that creativity comes from being in a good space. The point of this is to navigate your negativity, insecurity, and inconvenience to positivity. Try to give yourself time to relax so you have more space to think creatively and positively. You can do everything that works for you such as meditation, massage, sleeping, etc. 

Keep Your Health in Check

Pay attention more on your health both mentally and physically if you want to enhance your creativity because the fogs in your mind will only kill your creativity. Weak body also makes it harder for you to think clearly, let alone thinking creatively. Make sure to commit to your health. Solve problems before it gets too big and take too much space in your head. Exercise more to improve your fitness as well. 

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Most Common Issues Regarding To Launching Products

Launching your products can be a thrilling and exciting moment. However, it needs thorough preparation and research before you find the kind of products that your customers need and want. Bringing your products to the market is not an easy feat especially when you expect for positive response. There are challenges you will face from the beginning of your plan to launch your products. However, those should not deter you from making the best plan because preparation is absolutely necessary and crucial for the success of your launching. As for the obstacles, there are also ways to overcome them all.

Common obstacles when launching products

Here are several most common obstacles when it comes to launching new products of your business:

The development of product is the first obstacle you need to overcome. This requires complex steps as you will have to involve fields of engineering especially when your products involve complex technology. Developing new product is not originally for entrepreneurs. It is so rare to find entrepreneur who can also develop their own physical products. They often create special team for product development consist of people specialized in the required fields. However, building this kind of team means you have to spend more money to hire experts and professionals. The solution is to hire qualified, experienced freelancer. 

The next obstacle comes when you have to prototype the product. You have to make manufactured version of your original product. You can split the make of prototype into its functionality and appearance if necessary. Then, you can analyze each of them. After making sure everything goes as plan, you can merge the two type of prototypes into one. This is what the closest to your original product. It is important to make prototype as similar as possible to the final product so you can see if there is any error or something unfit. 

Next is manufacturing. If your product is a type of high-tech hardware, this is the most challenging process. You need to estimate thoroughly the time and cost for mass manufacturing because prototype is still far from the final product ready to the market. Lots of entrepreneurs failed at this stage because of lack of estimation. You should be detailed in calculating everything including the risk and the expense. Instead of setting up your own factory, it is highly advised to hire a contract manufacturer. Thus, you can only focus on producing product without worrying over setting up the manufacturing yourself. 

Next, you are ready to launch the product but you have to know the feedback of your customers. It is highly suggested for entrepreneurs to launch pre-sell products first to truly know what the customers want before producing the final products. And the nest challenge is the cash flow. You have to get paid by your customers who buy your products. However, you also have obligation to pay your manufacturers at the same time, thus, managing cash flow can be so much more challenging than you think. It is important to make financial plan beforehand so you know how to manage your cash flow. 

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Understand The Challenges In Running Family Business

Running a family business just like any other business has its own risks and challenges. It is surely challenging but it doesn’t mean you cannot do it successfully. There are people out there who proved that they can run family business just fine. Before diving into family business, it is highly advised to understand all the risks and challenges so you can anticipate and prevent potential problems.  Of course, there are the inevitable but at least you will know how to deal with them if you know what you are getting into.

Challenges in running business with family members

Running a business with your family members can be both calming and nerve-wrecking. The good side is that you don’t have to waste your time with background checking or familiarizing. You already know who you are going to work with. The bad side is that conflicts that happen within working environment can be persistent and dragged into personal life. Here are the most common challenges in running a business with family members:

The first challenge is to set boundary between business and personal matter. Since you are getting used to with the presence of your family members, it is easier for you to feel too comfortable. However, business is business and you need to treat it like one if you want to become successful. Separating business and personal matter will be the hardest challenge especially in the beginning and if it is the first time experience for you or your family members to join forces in running a business.

The next challenge is related to leadership and responsibility share. Since you already knew your family members like the back of your hand, you don’t hesitate to deliver responsibilities. However, it is not something you should do based on personal attachment. You need to delegate responsibility to each member of your family based on their skill. Another challenge is when you have to lead older family members. They are used to treat you like a baby so you have more pressure to prove them that you can become a good, effective leader.

Another challenge in running a business with family is to think out of the box. You and your family members have the same upbringing and already got adapted into family tradition. It makes you think similarly in so many things. This can be good because you can bond faster. However, it can be a trouble for when you need to find or accept new ideas or concept. Meanwhile, innovation is crucial element for the success of business.

Lack of objective perspective is also challenging. You are working with family members who you love and love you. It is common to feel biased. However, giving bias opinion in business is not constructive. You should work without involving too much personal attachment. It doesn’t mean you have to act cold. What you need to do give each other open and honest opinion to everything related to work. Thus, you will know if there is something to fix or improve.

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Luxury Villa Canggu Bali and The Savings Secret

Vacation means spending money. This is something natural. When planning a vacation trip means you are ready in financial terms. Accommodation becomes a problem when vacationing family or with friends. It costs a lot when you have to choose a hotel room with international standard services and facilities. When you want to stay in a comfortable and luxurious place but are constrained by costs, renting a villa is the perfect solution. Canggu is one of the areas that are currently popular and full of foreign tourists. How to get luxury Canggu Bali villas and what are the saving secrets you will get?

luxury villa canggu bali

Luxury villa Canggu Bali for Sharing Cost

If you are traveling with many friends, sharing costs looking for Canggu Bali villa rentals are right. The average villa rental price per day ranges from $ 200 or more. If your traveling companion is 5-6 people, the cost of accommodation per person per day is much cheaper. Surely you have to calculate how many rooms and mattresses are available. Search through the villa rental website to compare the number of bedrooms to your needs.

Kitchen is important

Culinary is fun. There are even many people on vacation for the purpose of tasting typical country or city food. If your budget is limited, choosing Canggu villas with kitchen facilities and equipment will greatly save costs. Visiting the traditional market is perfect, and you can buy food ingredients to be processed with family or friends at the villa. Wouldn’t this save more money?

Bed with big size, very profitable

Maybe this is a little difficult because you have to pay attention and ask in detail, the size of the available mattress. Holidays, of course, become a place to gather with your family or friends. Looking for Canggu villas with large size beds certainly, fit more than 2 people. Large beds with 2-3 people will certainly be comfortable if you are with family or friends.

Canggu villas are spacious for holiday comfort

Most Canggu villas are designed to make tourists comfortable as at home, certainly will make you feel at home. The spacious villa means having a living room, open space, and of course a swimming pool. If you see the price is very expensive, don’t worry because it can still be reached if sharing costs with your friends. Complete facilities and services, with high prices, will still be worth a vacation with your beloved friends or family.

Book Villa in Advance

Vacation trips do require careful planning. If you are on vacation during high season, it’s good to look for Canggu Bali villa rentals in advance to get cheaper prices. There are many online applications that make it easy to find and compare villa prices for cheaper prices.

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The Importance of Honesty in Business

Starting business is easy and everyone can do it. However, running a business with ethic and social responsibilities is very challenging. Most people consider professionalism as the most important trait in running business. Sure, it is important to run a business because it relates to relationship management and work ethic. However, honesty is also important quality you need to have to run business. It can lead you to run a successful and accountable business in the long run. 

How Honesty is Related to Business

Most people consider honesty as unimportant for business. However, honesty is related strongly to trust and credibility. In running a business, you also need to build trust which is gained by showcasing honesty. Keep in mind that honesty in business is not only about doing things the right way but also about expressing the values of the company. 

Value and Beliefs of Business

You see, there is particular work culture you need to build and establish when running a business. Honesty is one of the most crucial elements you need to build it successfully. Work culture is important aspect for your business to success in the long run. It is related to value and beliefs that drive everything your business does. It is related to how you make your products and deliver your service. Honesty is also important for you create powerful and reliable teamwork because your team members will feel more validated and empowered if you can establish work culture with honesty as one of the basic elements.

Consistent Behaviour Culture

Honesty is important for your business because it creates consistent workplace behavior. Culture built in honesty can foster workplace behavior that is consistent in activity. In simple words, culture built honesty can make your employees behave with a consistent code of ethics no matter what circumstances they are currently in. Easy example of this point is, your employees will maintain their respect and politeness even when they face rude customers. Another example is, your employees will choose not to pad their expense account of their business trip even if they have the opportunities to do so. It is because they have bought into the culture you have built and established using honesty as one of the foundations. 

Trust Building

Honesty is also important because it is what you need to build trust with your customers as well as business partners. Nobody want to be related with dishonest person. Trust is not something you can build overnight when running a business. It needs to be built gradually. You need to nurture it carefully because trust is something that can be easily broken but hard to repair. When you gain trust from your customers, they will believe that you will always deliver the best products and service. It can help building your business reputation if you have customers with strong loyalty.  Honesty will also help you to get helpful, reliable business partners. 

Furthermore, honesty is not something you can underestimate with in business. It is crucial element for you to build trust, reputation, and accountability. It is also important to maintain healthy relationship between customers, employees and business partners. 

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Creating Professional Look to Your Business

Professionalism is crucial for your business. It helps boosting your accountability and credibility. By adopting professional attitude and behavior, you can improve the performance of your business as well. Even if you start with small business, professionalism is important element to have because that’s how you treat your business like a business. Aside from adopting professional behavior, you also need to build professional look for your business. It can help boosting your brand. You can do it using technology that is always available today. 

Establishing professional look to your business

Creating professional look is crucial because you need to have positive branding for your business. Besides, it will help your business to look more organized because there is no personal things included. Creating professional look might be easy if you don’t have to consider your competitors. You need to create a look that can differentiate you from others. 

Have professional contact details – It is important because you need to separate your personal and business matters. Dedicating number for business is a good start to establish professionalism. This way, you don’t have to mix up your personal life with business matters. It is not hard to create dedicated number for your business. Aside from phone number, you also need to create other contacts such as emails dedicated for your business only. 

Establish professional domain online – It is crucial for you to establish your brand online. One of the most effective ways is to have professional domain dedicated for your business. It is fine if you can only start with free domain. However, you need to consider switch to private domain once your business grows bigger. Make sure to choose simple, unique, memorable name for your domain. Keep it short so people won’t have to think long to reach your page. 

Make business card – You can create professional look for your business by making business card. Thus, you can give it anytime. Business card is a good investment in the long run. It is part of the most powerful tools marketing. It doesn’t have to be made of expensive materials. The important points is to state your contact details so people can reach you easily. You can order business card through online service if you cannot afford making it at home with the risk of failure being high because creating and business card is quite a work. 

Hire professional web designer – You can try designing your own website to make it look professional. However, it is better to hand the work to professional. They know what to do and they have the skill. Consider it as small investment for your business in the long run. Having beautiful and professional website that can give your visitors good experience is important for your business. In addition, make sure to post informative, inoperative, and useful contents on your webpage so more potential customers are attracted to keep coming back on your page. If you want to post image, make sure to take better photos. Blurry images will only make your potential customer frown. 

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