15 Side Business Ideas in the Village, Still Making Money Even if You Live in the Village!

 Living in the village has its own charm and tranquility. However, that doesn't mean you have to be limited in terms of income. There are various side business ideas that can be run in the village that can generate additional income. Here, Bizhare will discuss 15 side business ideas that you can consider, even if you live in a remote village.

• Small Agricultural Businesses

Agriculture is the backbone of the village. Interestingly, you can be a part of it. Plant organic vegetables or create a small fruit garden. You can sell your crops directly to local markets or look for customers in nearby cities. Remember to maintain the quality and cleanliness of your agricultural products, as this will attract more customers.

Additionally, consider modern farming techniques such as hydroponics or mushroom cultivation. Both can be promising sources of income. The organic food market is also growing, so this is a great opportunity to earn a stable income. Read books or take courses on modern agriculture to increase your knowledge.

• Home Food Stall

If you have a hobby of cooking, why not take advantage of it by opening a home-based food stall? Currently, typical and unique foods are in great demand. Offer your regional specialties or traditional dishes with a modern twist.

Apart from selling food on the spot, you can also provide delivery services to increase your income. Make sure the cleanliness and taste of your food is always maintained to keep customers coming.

Not only that, in this digital era, take advantage of social media and websites to promote your food stall. Share photos of your delicious food, create an online menu, and always be responsive to customer questions or orders. This way, you can reach more people, even tourists who come to your village.

• Repairman Services

The ability to repair a house or vehicle is a valuable asset in the village. People always need the help of repairmen, from roof repairs, water pipes, to motorbike servicing. If you are an expert in this field, you can open a repair service.

Make sure to provide high-quality service and always maintain professionalism. This will keep customers happy and referring your services to others.

Don't forget to promote your business in the local community. Giving discounts to customers who recommend them to their friends can also help expand your customer network.

• Handicraft Crafters

Expertise in making handicrafts such as weaving, wood carving, or embroidery is a very valuable treasure. Many people look for unique handicrafts as souvenirs or home decoration.

Later, you can sell your handicraft products directly at village markets or via online platforms such as Instagram or Tokopedia. Make sure to diversify your products to cover a variety of customer tastes.

Additionally, consider providing craft training to local communities. This not only increases your income but also helps others learn and develop new skills.

• Chicken or Goat Farming

Farming animals such as chickens or goats can be a stable source of income in villages. You can sell eggs, meat, milk or other processed products. Before you start, learn more about farm management and animal care. Also make sure you have good enough facilities for your animals.

Apart from selling animal products, you can also offer farm tours. Tourists are often interested in seeing how farms operate and interacting with the animals. This can be an interesting additional income.

• Laundry and Car Wash

Laundry and car wash services are much needed in the village. Many people are busy working so they look for a place to wash their clothes or vehicles. You can open this business in your home with simple equipment.

Make sure to provide fast and quality service. Promote your business in your local community and use social media to reach more customers.

Provide a variety of service options, such as dry cleaning, wet cleaning, or delivery pick-up for laundry. This will help you compete better in the market.

• Local Tour Guide

If your village has a tourist attraction, consider becoming a local tour guide. You can help tourists explore the natural beauty, culture and history of your village. Prepare yourself with in-depth knowledge of the interesting places and interesting stories around the village.

You can organize a walking tour, bike tour or even a culinary tour. Make sure to provide unique and valuable experiences for tourists. Provide in-depth information about the history, traditions and daily life of your village.

• Accommodation Rental

If you have free space in your home, consider renting it out to tourists. You can register on online platforms such as Airbnb or Traveloka. Make sure to provide clean and comfortable rooms, as well as friendly service to your guests.

Choose a unique theme or style for your stay, such as a rustic accommodation or a villa with mountain views. This will make your venue stand out among other options and attract more guests.

• Herbal Plant Cultivation

Herbal plants such as ginger, turmeric or ginger have high selling value. You can grow it in your own garden. Be sure to understand how to care for these plants to produce high-quality yields.

After harvesting, you can sell the results to local markets or to herbal medicine manufacturers. Demand for herbal plants continues to increase, especially due to awareness of their natural health benefits.

• Learning Courses

If you have a special skill, such as cooking, sewing, or music, offer courses to local people. This not only makes money but also shares knowledge. You can teach children or adults, depending on your interests and skills.

In addition, create an interesting and flexible program to fit participants' schedules. Online courses may also be an option if you want to reach a wider audience.

• Graphic Design Services

If you have skills in graphic design, this is a promising business opportunity. Many local and online businesses require graphic design for logos, brochures, websites and other marketing materials. You can work from home and accept design projects from all over the world.

Make sure to have the necessary design software and an attractive portfolio to show potential clients. Network with local businesses and advertising agencies to get projects.

• Tree Pruning Services

In the village, tree pruning is a job that is always needed. If you have the appropriate equipment, such as a chain saw and mower, you can open a tree pruning service. This can include pruning trees, removing dangerous branches, or even removing dead trees.

Remember to operate safely and understand proper pruning procedures. This is a job that can provide a stable income throughout the year.

• Craft Business from Waste

Reducing waste and creating useful products are great goals. You can open a craft business from waste such as plastic bottles, used paper, or unused items. Make creative products such as bags, pencil cases, or wall decorations.

Apart from helping the environment, this business can also provide additional income. You can sell your handicraft products directly at village markets or through online platforms .

• Carpentry Business

If you have skills in processing and creating wooden blocks, this will be a good business opportunity. You can make various wooden products such as furniture, crafts, or home accessories. Make sure to use quality wood materials and maintain accuracy in your work.

You can sell your products directly to customers or through local stores. If possible, collaborate with an architect or interior designer to get a special project.

• Investment in Crowdfunding Platforms

Nowadays, you can do any side business. However, have you ever thought that the side business you are running doesn't require a lot of energy, and can even run itself like an autopilot business ? Well, that can be done when you invest in a securities crowdfunding platform .

Why are you recommended to invest in securities crowdfunding in 2023? The reason is that crowdfunding schemes offer attractive benefits, including larger dividend yields compared to several other investment instruments.

Another advantage of crowdfunding schemes is easier portfolio diversification. Here, you can invest in various projects or businesses with a relatively small investment amount. This means your risk is spread well, so that if one investment doesn't work out, another investment can still provide positive returns.

Apart from that, crowdfunding also provides the opportunity to invest in businesses that are usually difficult for individual investors to access, such as property projects, startups , or small businesses that have large growth potential. With crowdfunding, you can be part of the growth of these businesses and potentially earn significant dividend yields .

One of the securities crowdfunding platforms that is currently on the rise is Bizhare . Bizhare provides investment services with amounts starting from IDR 1 million . Exclusively, Bizhare also offers special investments with values ​​starting from IDR 50 million , of course with a guarantee of a larger dividend yield .

There are many advantages offered by Bizhare, one of which is the convenience of investing in an amount that suits your abilities. In addition, Bizhare has been registered and supervised by the Financial Services Authority (OJK) , which provides additional protection for investors.

With this wider selection of side business ideas, you can choose the one that best suits your interests, skills, and the resources you have in your village. Remember that success requires hard work, innovation and commitment. Good luck and good luck!

10 Ways to Attract and Convince Investors, Get Capital Immediately!

 How to attract investors is quite tricky and you have to study it carefully. If successful, you can get additional business capital to progress your business. So, there are several things that must be considered so that investors want to invest in your business. Wondering how to convince investors effectively? Here's the guide!

• Understand Potential Investors

Knowing the right investor who suits your business model is the first thing you have to do. Apart from that, also consider the amount of capital needed and how investors will invest their funds in your startup .

For example, if you are looking for funding from venture capital , do research on venture capital that is suitable for the stage of capital you need, whether pre-seed , seed , series A, or so on.

Generally, venture capital has also determined how much funds will be provided and these funds must be equivalent to the percentage of shares in your startup. In practice, it is often found that funds will be provided through a debt conversion system , where the funds will be considered debt and over a certain period of time, the debt will be converted into shares in your startup .

• Explain the Business Vision and Mission

Investors will be more interested if you explain your company's vision and mission. Of course, the vision and mission must be in line with the values ​​of a profitable company.

From the vision and mission explained, investors will later assess how much value will be invested after seeing the business potential outlined in the vision and mission.

That's why, this way of looking for investors is very important, considering that this is where potential investors will be interested and have promising business prospects.

• Pay attention to the Financial Reports 

Financial reports are one of the requirements that investors consider to determine whether your business is a potential company or not.

From these financial reports, many things can be taken into consideration, including the company's cash flow, the debt the company has, and the income earned by the company. Therefore, before meeting with investors, you should have prepared a good company financial report.

• Pay attention to the legality 

Before starting to look for investors, make sure your business is in the form of a limited liability company (PT). Why should PT? Because PT is the only business entity in the form of a legal entity and all PT capital is divided into shares, it will be considered more credible and make it easier for investors to invest their capital. 

In return for the funds provided, investors will receive shares in your company whose share ownership percentage is equivalent to the funds provided.

By owning shares in a PT, investors also have the position of "owner" of the company. However, you don't need to worry, because even though the investor's position is "owner", you still have control over your company, which can be further regulated in the shareholder agreement .

• Build Trust 

In building cooperative relationships, including in business, trust between each other is needed. Without mutual trust, cooperation will be difficult to carry out. Therefore, the next way to convince investors is to build trust.

How to gain investors' trust? You can get it by maintaining credibility. Show that you are someone who can be relied on.

Build personal relationships with investors so they not only know about your business, but also get to know you as a person. 

You will certainly trust people you know more. Likewise with investors, knowing you directly will make them trust you more.

• Show Experience 

The next way to convince investors is to show them your experience. So, don't just present the business and future plans.

You can talk about your relevant experiences to show what you have handled and learned. The more extensive and relevant your experience, the greater your chances of getting investment.

• Show Your Motivation 

The results obtained by investors are determined by the success of the business they finance. Therefore, you must be able to show motivation and dedication to make the business you have built a success.

The next way to attract investors is to show that you have a goal , know what you have to do, and will work hard to achieve that goal.

With strong motivation and high trust funds, investor confidence will grow. So, they will be more confident about the money invested in your business.

• Emphasize Originality

In order to get business capital from investors, you must be able to present an original business idea. There is a challenge here. Investors must have seen many similar business ideas from small companies that have just started operations.

That's why, you have to present something out of the box and different from the others so that investors will notice it. Try to find innovative and creative solutions to solve problems experienced by customers.

Not only that, you must be able to show the superiority of your product compared to others. It doesn't have to be new, but your product must have advantages that are more valuable than competitors.

• Choose Co-Founders Wisely

The way to attract other investors so that they are interested in providing business capital is by showing that the co-founder is talented and professional, and has a good track record .

Because, you not only sell products or services from your thoughts, but also introduce the team within the organization. In this case, you also need to be careful and wise in determining the best talent.

The process of selecting the right leadership team for your business can be difficult so it takes a fair amount of time. Because if you place the wrong people, it can have a significant impact on overall management.

• Prepare a Professional Team

Not only the top leadership of the company must be prepared, but the team and organization must also be ready to run the business. Even during a business presentation to obtain business funding, you must be able to introduce them in front of investors.

Without a professional team, it is very likely that your company will be rejected by investors. That's why, make sure you have prepared the best team that will work for the company.

You can develop your business with the help of funds from investors. However, before meeting with investors, make sure you have carefully prepared a business plan that will be presented to investors.

This aims to encourage investors to provide their sources of funds to your business which is in need of development funds. The various explanations above have illustrated how to attract investors to want to provide funding. Good luck!

10 Ways to Start a Culinary Business for Beginners with Small Capital

 The culinary industry is one of the most dynamic and interesting business sectors. The business offers unlimited opportunities for creative and innovative entrepreneurs. However, success in this industry does not come easily. A deep understanding of various aspects is required, from planning and management to marketing and food quality.

Tips for Starting a Culinary Business

Here, you will explore the important points you should consider when starting or managing a culinary business. It covers aspects ranging from initial planning to ongoing growth, and will help you understand what it takes to achieve success in this competitive world.

• Create a Business Plan

To start a successful culinary business, a very important first step is to design a comprehensive business plan. This business plan should include a general description of your business concept, your target market, the types of food or drinks you will serve, and how you will run your business operations. 

By having a clear business plan, you will have a strong guideline for designing and growing your business. This will make the business stronger and ready to launch targeting potential consumers.

• Manage Finances Wisely

It is important to manage your business finances wisely. This involves determining competitive product prices and carefully calculating the costs associated with daily operations.

Apart from that, you also need to conduct market research to understand whether your prices are competitive in the market and ensure healthy profits. With good financial management, you can maintain the financial health of your business.

• Strategic Location Selection

One way to start a culinary business is to choose a strategic location. Make sure you choose a strategic location, which can attract potential customers. Factors such as traffic, population density, and proximity to office areas or shopping centers can be important considerations in selecting a location. A good location can help you build a strong customer base.

• Creative and Quality Menu

To create a special attraction for your customers, make sure you serve a unique, creative and quality menu. This can include food or drinks with special tastes, fresh ingredients, and satisfying portions. Creativity in creating your menu can help you differentiate yourself from competitors and entice customers to come back for more.

• Serve Customers Like a King

Good service is the key to success in the culinary business. Make sure your staff is trained to provide friendly and responsive service to customers. Your success will depend largely on how you treat your customers, and positive customer experiences can help build your business reputation.

• Understand all applicable permits

Make sure you understand and comply with all permits and regulations that apply in the culinary business, starting from food health permits, environmental permits, and food safety regulations. Violating the rules can have a detrimental impact on your business, including fines and temporary or permanent closure.

• Effective Marketing

To attract potential customers, you need to have an effective marketing strategy. This can include online marketing through websites, social media and similar platforms . Additionally, investing in local advertising strategies, special promotions, and partnerships with food delivery platforms can also help increase your business visibility.

• Ensure the Best Quality Raw Materials

To start a culinary business, the most crucial thing is to ensure the quality of the raw materials for your culinary business. The quality of raw materials will affect the taste and safety of the food you serve. Collaborating with trusted suppliers and following good food safety practices is very important to maintain the quality of your products.

• Continue to Innovate and Adapt

The culinary business is constantly evolving, and you need to always be innovative and ready to adapt to trends and changes in the industry. Keeping up with food trends, exploring customer feedback, and making regular updates to your menu and service are key to maintaining a competitive edge.

• Carry out Regular Evaluations

Finally, it is important to carry out regular evaluations of your business performance. Profit and loss analysis, customer feedback and changing market trends are mandatory to identify areas where you can improve. Apart from that, you must continue to solve various problems that will occur while opening a culinary business.

That's how to start a culinary business for beginners. Remember that starting a culinary business requires dedication and hard work. It is also important to comply with applicable health and licensing regulations. Good luck in running your culinary business, Friends!

15 Business Success Factors that Entrepreneurs Must Have

 In this fast-paced and competitive era, becoming a successful entrepreneur is not easy. Business success does not only depend on luck alone, but also on factors that entrepreneurs must have. In this article, we will discuss business success factors that every entrepreneur needs to have.

• Have a clear vision and mission

One of the factors for business success is having a clear vision and mission. Entrepreneurs need to have a long-term view of their business goals and how they want to achieve them. A strong vision and mission provide consistent direction and goals for all teams in the business.

• Mature Business Plan

A business plan is a very important guide in managing a business. This includes market analysis, marketing strategies, financial plans, and so on. Careful business planning helps entrepreneurs avoid impulsive decisions and make better decisions. A good business plan can also help obtain funding if needed.

• Skills and Knowledge

Entrepreneurs need to have relevant knowledge and expertise in their industry. These factors help them understand the market, competitors and customers better. Additionally, technical ability and knowledge of the products or services they offer are essential. This allows them to provide quality solutions to customers.

• Strong Leadership

A successful entrepreneur needs to be a strong leader. They must be able to motivate their team, make difficult decisions, and direct efforts in the right direction. The ability to lead, inspire, and motivate others is an important skill that entrepreneurs must have.

• Creativity

Creativity is the key to innovating and overcoming challenges. Entrepreneurs need to have the ability to think outside the box and create innovative solutions. Creativity can help businesses find new ways to meet customer needs or to differentiate themselves from competitors.

• Adaptability

The business environment is always changing, and entrepreneurs need to be able to adapt to these changes. Adaptability is one of the key factors in maintaining business success. When markets change or technology changes, entrepreneurs who can adapt quickly will have a competitive advantage.

• Courage to Take Risks

Entrepreneurs need to have the courage to take risks. Not all decisions will be successful, but successful entrepreneurs are not afraid to try new things. This courage can lead to innovation and business growth. However, risks must also be managed wisely to avoid major losses.

• Consistency

One important factor in building good relationships with customers and business partners is consistency. Entrepreneurs need to deliver on their promises and deliver quality products or services. Consistency creates trust, and customer trust is the key to long-term success.

• Focus on the Customer

Customers are valuable assets in business. Successful entrepreneurs always focus on the needs and wants of their customers. They listen to customer feedback and continually improve their products or services. Understanding customers well can help identify new opportunities and maintain customer loyalty.

• Time Management Ability

Good time management helps entrepreneurs stay productive and efficient. They need to be able to manage their time wisely. Good time planning can help avoid excessive stress and ensure work is done efficiently.

• Product or Service Quality

The quality of the product or service is a factor that should not be ignored. Entrepreneurs need to ensure that what they offer is the best. Good quality creates customer satisfaction, word of mouth recommendations, and loyal customers.

• Verbal and Communication Ability

Good verbal and communication skills help entrepreneurs in negotiating, building relationships, and selling their products or services. This ability is also important in leading teams and collaborating with business partners.

• Healthy Finances

Good financial management is very important. Entrepreneurs need to monitor their expenses and income, and manage cash flow wisely. Healthy finances ensure business sustainability and the ability to overcome financial challenges.

• Network and Connectivity

Building strong networks and relationships with people in the industry can help entrepreneurs gain support, opportunities and valuable insights. This network can help in terms of getting new customers, finding business partners, or getting valuable feedback.

• Resilient

Business success does not always come quickly. Entrepreneurs need to have strong mental resilience to overcome obstacles and failures that may occur along the way. In this way, entrepreneurs are able to persist persistently, are able to learn from mistakes, and keep trying until they achieve their goals.

Successful entrepreneurs are those who are able to combine the above factors and develop their business wisely. Business success is not the result of one factor alone, but of a combination of various factors working together.

Therefore, every entrepreneur needs to use these factors as guidelines in managing their business towards success. Business success is a long journey and requires commitment, hard work and continuous improvement to achieve the set goals.

By understanding and applying these success factors, entrepreneurs can increase their chances of achieving success in the competitive world of business. Hopefully this article can be a useful guide for entrepreneurs who are struggling to achieve success in their businesses.

12 Tips for Overcoming Failure in Running a Business

 In the business world, failure is an inseparable part of the journey to success. Don't worry, failure is not the end of everything; rather, failure is an opportunity to learn and grow. This article will give you a series of valuable tips for overcoming failure in running your business and getting back on track to success.

• Accept Failure as Part of the Process

In the business world, it is important to accept the fact that failure is a natural part of the process towards success. There is no successful entrepreneur who has never experienced failure. Failure is a valuable lesson that helps you strengthen your leadership qualities and hone your skills.

When you accept this reality, it will be easier for you to see failure as part of your business journey, not as an obstacle that stands in the way of success. By changing your view of failure, you can face it with your head held high, willing to learn from your mistakes, and move on.

• Failure Analysis and Identification of Causes

When facing failure, don't just lament your fate without doing a deep analysis of why it happened. Identify the cause of the failure and try to understand the root cause. By understanding the causes of failure, you can take concrete steps to avoid it in the future.

If necessary, ask for input from your team members or business partners. Sometimes, an outside perspective can help you see things you hadn't thought of before.

Don't be afraid to dig deeper and think critically about what can be improved to avoid similar mistakes in the future.

• Take Yourself Back

After experiencing failure, you may feel down and lose enthusiasm. It's okay to feel sad or disappointed, but it's important not to get wrapped up in these negative feelings. Instead, pick yourself back up with renewed determination and high spirits.

Remind yourself of your business vision and mission. Remind yourself of the reasons why you started this business and the big goals you want to achieve. This will help you get the enthusiasm and motivation to fight again.

• Don't be afraid to ask for help

When faced with failure, don't hesitate to seek help from others. Collaborate with business partners, mentors, or industry experts who can provide valuable insight and advice. Talk openly about the challenges you're facing, and don't be shy to ask about what you can improve.

Thinking that you have to solve everything yourself is a common mistake that can hinder your progress. By bringing together people who can provide a new perspective, you will gain valuable insight and perhaps find solutions you never thought of before.

• Reevaluate Your Business Strategy

Failure may be the result of a less effective business strategy. Therefore, after facing failure, take time to reevaluate your business plans and strategies.

Revisit your goals and ensure that the strategy you choose is still relevant to current market conditions and customer needs. If necessary, refine or change your business plan to better suit changes in the business environment that are occurring.

• Take Care of Your Mental and Emotional Health

Failure can be emotionally stressful. It is important to look after your mental and emotional health during this difficult time.

Find ways to relieve stress, such as regular exercise, meditation, or talking to a trusted person about your feelings. Additionally, don't hesitate to give yourself time to relax and do activities you enjoy to recharge with positive energy.

• Improve Your Skills and Knowledge

Failure can be an opportunity to improve your skills and knowledge. Take training, courses or seminars to improve your skills in a specific business area.

The more skilled you are at managing your business and facing challenges, the greater your chances of achieving success. Never stop learning and seeking new knowledge that can help you overcome obstacles in business.

• Don't give up

Failure is not a reason to give up and leave your business. If you believe that your business has potential and still has the enthusiasm to grow, then keep fighting.

Redefine your goals and refine your business strategy. Don't be afraid to try new things and innovate. If you continue to be persistent and committed, you may find new, better ways to achieve success.

• Learn from the Successes and Failures of Others

When facing failure, don't just learn from your own failures, but also from the successes and failures of others. Research inspiring stories from successful entrepreneurs and learn how they faced challenges and overcame failure.

Read books, articles, or watch interviews with entrepreneurs who have achieved success. Find out what you can learn from their experiences, both positive and negative, and apply those insights to your business.

• Establish a Support System

Building a strong support system is essential in dealing with failure. Working with a solid, like-minded team can provide the emotional and practical support you need during difficult times.

Communicate openly with your team about the failures you face. Involve them in finding solutions and continue the spirit of collaboration. With support from a solid team, you will feel more motivated and confident to face future challenges.

• Set Realistic Milestones

Determine realistic milestones or achievements for your business. By having measurable short-term and long-term goals, you can track your business progress and stay motivated to achieve them.

It is important to measure your achievements regularly and compare them with the goals you have set. If you consistently achieve small milestones , it can provide a huge motivational boost to keep moving towards your final goal.

• Don't be afraid to change plans

If your plans don't work out as expected, don't hesitate to change them. Flexibility is the key to surviving in the competitive business world.

Changes in market conditions, technological developments, and changes in customer needs can affect the running of your business. Therefore, it is important to always be open to change and ready to adapt your business plan to remain relevant and competitive.

Facing failure in business is an inseparable part of the journey to success. Don't let failure stop you; instead, see it as an opportunity to grow and develop.

Decoy Effect Marketing Strategy: Smart Ways to Increase Sales

 The complexity of determining the selling price of a product makes manufacturers determine a decoy effect marketing strategy . The aim is to influence customer decisions, while increasing product sales figures. So, what is the decoy effect and how does it work? Check out the following article for further explanation!

What is the Decoy Effect?

The decoy effect is a clever marketing strategy that uses the third option as bait to influence consumers' perceptions of the first option. Therefore, the decoy effect marketing strategy is also known as a decoy strategy.

When using this strategy, sellers will present additional product options that are actually less popular or less profitable for consumers. However, the product is still offered to make the main choice look more attractive. 

The main goal of the decoy effect is to help consumers make better decisions by providing a clear comparison between available options. Apart from that, this method is also used for the benefit of sellers in increasing sales 

The application of the decoy effect is actually very familiar to most consumers. Sellers present a third option as a bait between one or two main products they want to promote. The third option tends to be unequal to the other two options in terms of price. 

So, this third option is used as bait to change consumer perceptions because they see the price of the main option looks more profitable. This strategy is often used by restaurants or cafes that offer various menu sizes by playing with the price difference between products.

How Does the Decoy Effect Work?

The way the decoy effect works is by offering different price options for the same product in different quantities. This offer will usually also be followed by persuasion to encourage consumers to buy the product options offered.

An example is the sale of cinema tickets which are available in two types of tickets:

1. Regular tickets cost IDR 50,000.
2. Premium tickets (free popcorn ) cost IDR 100,000.

Seeing the significant difference in prices and benefits , customers tend to prefer regular tickets with much cheaper prices, according to their needs.

If the company decides to use the decoy effect to influence customer choices, then the types of cinema tickets offered will be like this:

1. Regular tickets cost IDR 50,000.
2. Premium ticket (without popcorn ) IDR 75,000.
3. Premium ticket (free popcorn ) IDR 100,000.

The second option is included as bait to make consumers think that the second option is a liability option. The third option, namely tickets with popcorn suddenly looks more profitable. Most people will choose premium tickets with free popcorn because they feel they are getting more value with a small price difference.

So, the decoy effect works by manipulating perceived value and influencing consumer thinking. In the world of marketing, this strategy is often used to increase sales of certain products or services by directing consumers to the desired options.

How to Implement the Decoy Effect Strategy?

Implementing this clever marketing strategy can be done in the following steps.

• Product or Service Identification 

Identify the type of product or service you want to promote or increase sales. Choose a product or service that has several options for consumers to choose from so they can compare for themselves which one is more attractive and profitable.

• Make Unattractive Decoy Choices 

The option that will be used as bait must be an option that is less attractive or less profitable than the main option that you want to promote. For example, if you want to promote package A at a price of Rp. 50,000, make bait with package B which has less attractive features, but with slightly different or even the same price.

• Focus Attention on Top Choices . 

The next way to apply the decoy effect is to emphasize the main choice you want to promote. Provide clear information and provide comparisons by highlighting the main options so that they look more attractive. Consumers will also feel helped because they think that the seller has made it easier for them to make purchasing decisions.

• Observe the Results

After applying the decoy effect, pay attention to how customers react to the choices offered. Is there an increase in purchases or interest in the main choices you are promoting or is consumer purchasing power not as expected? Then, evaluate the results to find out whether this method is suitable for application in your business.

Please remember that the decoy effect must be used with ethics and transparency. It is recommended not to display decoy options that have the potential to deceive consumers. Applying the decoy effect wisely will be able to influence consumer decisions and increase product or service sales in businesses.

The right marketing strategy will not only increase product sales, but also customer satisfaction. To find out what strategy is suitable for your business, you can involve a third party such as a business consultant to reduce the risk of errors and increase the success of your business strategy.

You can consult on various business obstacles and problems with MBN Consulting. Apart from that, you can also enjoy other conveniences in managing your business with financial, tax and legal reporting services to increase business effectiveness and accelerate substantial and sustainable business transitions.

Get to know Word of Mouth (WOM) Strategy in Marketing

 Word of Mouth (WOM) is a very powerful and effective marketing strategy. This marketing method relies on verbal recommendations from satisfied consumers to other people. The following is a complete review of what word of mouth is and its strategies!

Understanding Word of Mouth Marketing

Word of mouth (WOM) is a natural and free form of promotion, where consumers who are happy with your product or service share their positive experiences with others.

The term “ word of mouth ” comes from English and means “from mouth to mouth.” This WOM can appear in everyday conversations, social gatherings, social media, or online review platforms .

WOM is becoming increasingly important in this digital era. The reason is, consumers tend to trust recommendations from other people more than traditional advertising.

Advantages of Word of Mouth Marketing Strategy

Word of mouth is a powerful weapon that relies on trust, honesty and positive impressions from real people who have experienced the benefits of your product or service. Here are the advantages!

• Increase the Popularity of Your Brand

WOM has a wide reach, especially when information is shared via social media platforms. When someone recommends a product or brand to their friends, the potential to reach a new audience is enormous. The more people who talk positively about your brand, the more recognized and popular your brand will be.

• Doesn't require large costs

One of the advantages of WOM is its relatively low costs compared to other marketing strategies. You don't need to spend a large budget on expensive advertising. Just provide a satisfying experience to consumers, and they will voluntarily share this with others.

• Increase consumer trust in the brand

When someone hears a recommendation from friends or family, they tend to trust it more and feel more comfortable trying the product or service. High consumer trust is the key to building long-term relationships with customers.

• Increase Sales

WOM has a big influence on consumer purchasing decisions. If consumers are satisfied with your product or service, they will share this positive experience with others, which can ultimately increase sales of your product.

Strategy for Using Word of Mouth

To implement a WOM strategy effectively, here are some steps you can take:

• The Importance of Providing the Best Experience for Customers

Customer experience is the main key to starting WOM. Make sure that the products or services you offer are satisfying and provide added value to customers. If customers are happy and satisfied, they will be happy to share their positive experiences with others.

• Ask consumers to provide testimonials or reviews

Actively asking customers to provide positive testimonials or reviews can be an effective WOM trigger. These testimonials and reviews can be used as real proof of customer satisfaction and can convince other people to try your product or service.

• Accept Improvement Suggestions from Consumers

Apart from asking for testimonials, give customers the opportunity to provide input and suggestions for improvement. This shows that you care about consumers' needs and wants, thereby increasing their trust in your brand.

• Build interactions with consumers on social media

Use social media as a means to interact with customers. Respond quickly to customer questions and comments. Actively communicating with customers will help build stronger relationships and support the spread of WOM.

• Use Key Opinion Leader (KOL) Strategy

Involve key opinion leaders (KOL) or online influences that are relevant to your industry or niche . Collaboration with KOLs can increase the reach of your WOM campaign and increase brand credibility among a wider audience.

• Provide Content for Consumers to Share

Create content that is interesting and can be shared by consumers. For example, content that is informative, funny, or inspiring is more likely to be shared by people with their friends.

• Give Surprise Gifts to the Best Customers

Give surprise gifts or rewards to consumers who actively participate in spreading WOM about your brand. This will increase their motivation to continue sharing positive experiences about your product.

Word of mouth (WOM) strategy is a powerful tool for increasing the popularity and sales of a product or brand. The advantages of WOM include low costs, high trust from consumers, and wide reach through the influence of social media. 

By implementing the right steps, you can use WOM as a powerful weapon in your marketing campaigns. Remember to always provide the best experience for customers, and build positive interactions with them through social media.

Guide to Making Personal Financial Planning, Can Be Long Term!

 Making personal financial planning is very important. Not only are we able to know the priority scale of money spent every day, we can also avoid financial deficits, or as the proverb says, "A peg is bigger than a pillar ."

Understanding Personal Financial Planning

Personal financial planning is the process of managing individual income and expenses to achieve personal economic satisfaction. This planning is very important in order to be able to map personal financial conditions, allocate funds in a structured manner, and provide motivation to collect more money in accordance with your financial goals.

According to the Certified Financial Planning Standards Board Indonesia , financial planning is a person's life goal through planned financial management. If successfully prepared comprehensively, the plan can become a blueprint for you to realize according to priorities.

Apart from that, good financial allocation planning can be used to realize life goals such as buying a house, going to school, having a private vehicle, preparing for retirement, getting married, and so on.

Personal Financial Planning Goals

Financial management planning objectives can differ between individuals. But the point is, through good financial planning, a person has a greater opportunity to achieve various dreams, such as studying abroad, going on holiday, studying investment , and getting married and having children. Following is the complete review.

• Protecting Assets

The first goal of income planning is to protect assets while dividing income for daily needs, for example to pay electricity, installments, investments, and so on. Apart from that, planning your income and expenses will also make it easier for you to save and add investment instruments, for example gold or bonds.

• Make money

If you are already working, the salary you earn can be used as business capital. Of course, the allocation of these funds must be planned as well as possible so that it does not go over budget or is not optimal. Save the income you earn for your daily needs. To make more money, you can also invest it in various types of investment instruments.

• Making Investments

Apart from protecting assets and making money, personal financial planning must be managed well so that it doesn't just run out. One way that can be done is by investing. There are many investment instruments to choose from, ranging from gold, property, deposits, mutual funds, to shares.

• Avoiding Anxiety

If your financial planning is prepared well, then you don't need to worry about future needs. The reason is, by having a mature and neat financial allocation plan, you can enjoy life in the future without lacking money. Emergency funds are available, investments are smooth, there is no reason to worry.

• Achieving Long Term Goals

Many people have long-term goals in life, for example buying a house, a motor vehicle, paying for their children's education, and going on the Hajj. This goal can only be achieved if you are willing to make careful financial planning from now on. You also have to regularly save according to plan so that this goal is achieved.

How to Make a Financial Plan

In general, there are several stages that you must take to create effective personal financial planning. This process can also apply in the long term, you know! For more complete information, please check the practical steps below.

• Record All Personal Income and Expenditures

The first step you can take to make a financial plan is to record all personal income and expenses. It would be better if you also include the sources of income and expenses as material for future evaluation.

• Create an Expenditure Budget

After recording income and expenses, the next step you can take is to create an expense budget. The method is very easy, namely total income minus total expenses in one month.

• Pay Debts & Installments on Time

Allocate the income you receive in one month to pay debts and installments. If it is not resolved immediately, debt and installments will become a problem that will cause your financial burden to increase continuously.

• Press Consumptive Spending

Observe financial records for the past month. From there, you can determine which expenses can be minimized for the next month. This way, you can save more and set aside existing funds for other things, for example investment.

• Allocate for Emergency Funds

An emergency fund is a budget prepared for undesirable conditions, for example when you are hit by a layoff or have an accident. Ideally, these funds amount to 3-4 times your monthly salary and must be set aside at least 5-10 percent of your salary each month.

• Separate Savings and Investment Funds

The next way to make financial planning is to separate savings and investment funds. This must be done to prevent you from losses or the urge to overspend on investments.

In addition, savings are more liquid than investments, so you can cash them out or divide them quickly at any time. If you don't plan to buy consumer goods, Bizhare suggests diverting your income into investments.

• Have Health and Life Insurance

The next step that must be taken is to set aside funds for health and life insurance. By registering for insurance, you and your family will be guaranteed maximum protection. You don't need to worry about unexpected events.

• Conduct Expenditure Audits Periodically 

After completing financial planning and applying it to your daily needs, you must conduct expenditure audits regularly, at least once a month. This way, your financial and living conditions will be better in the long run.

Benefits of Personal Financial Planning

Financial planning can make it easier for you to manage cash flow now and in the future. In fact, someone with a good financial strategy is more adaptable and able to consider every decision regarding their life goals.

• Make yourself more organized and disciplined

The first benefit of financial planning is that you can be more organized and disciplined in managing money coming in and out. Apart from that, a thorough planning list can also help you create a priority list of needs.

Planning like this will also control any budget items that are not too important or can be postponed. As a result, business and personal financial stability is well maintained.

• Have a Plan for the Future

Good financial allocation planning will help you to have a bright future. This is used to have the right investment according to your needs, goals and personality.

Careful planning helps you plan and create financial assets for the future. Moreover, the value of future investments can increase according to the portfolio you choose, for example gold.

• Has Protection From Unexpected Events

Good financial planning will be very helpful if one day an unexpected event occurs. For example, if there is a motor vehicle accident or you are deceived by a fraudulent investment.

All unexpected events will be covered if you have a thorough income allocation plan. This happens because you have prepared an emergency fund for such events.

• Avoid Debt

Financial planning can make your life safe and avoid debt. This happens because all expenses have been placed in their respective posts. People who have a lot of debt usually don't have a good financial plan. As a result, there is no defined priority scale for spending every day.

• Clearer Life and Financial Goals

Most people have the same goals in life. Some concrete examples include buying a house, buying a car, paying for education, and so on. It cannot be denied that these goals are very important to achieve, and careful planning can help make them happen.

So, financial planning will help you in making plans and targets for the future. Apart from that, the right strategy will enable you to prepare for even the worst risks. So what are you waiting for, immediately design your personal financial planning!

Business Consultant Profession: Salary, Duties, and Responsibilities

 Are you considering using the services of a business consultant? If yes, then it is the right decision! Business consultants will indirectly help you in developing the right business strategy, from financial management to marketing tips. Here's the full review!

What is a Business Consultant?

A business consultant is a professional who helps companies overcome problems and improve business performance. The form of assistance provided is not entirely direct intervention, but only in the form of suggestions or recommendations, similar to the financial advisor profession .

A business consultant must have broad insight and experience in various aspects of business, starting from management, marketing, finance, operations, and others. You can also use business consultant services to help plan business strategies and guide the implementation process.

Business Consultant Duties

A business consultant is tasked with helping you achieve business success. To make this happen, here are several things that this professional service can do.

• Business Analysis

Business consultants will carry out an in-depth analysis of your business. The goal is to help find weaknesses and hidden potential. From this analysis, a business consultant can provide recommendations about changes that need to be made to improve business performance.

• Designing a Business Strategy

Business consultants can help design the right business strategy to face business competition. They will evaluate your market, product, and marketing strategy, and make recommendations about changes that need to be made.

• Provide Resources

A business consultant can help obtain the resources necessary to build your business. They can help with finding investors, product development, or even developing a new business plan.

• Optimizing Business Operations

Business consultants can help increase the efficiency and productivity of your business operations. They will evaluate your business processes and provide recommendations on changes that need to be made to improve the performance of business operations.

How to Become a Business Consultant

If you are interested in becoming a business consultant, there are several steps you can take. Here's the full review!

• Business Studies and Other Relevant Sciences

The first step to becoming a business consultant is to obtain relevant education, especially in the field of business or management. Formal education will help you gain the knowledge and skills needed to become a successful business consultant .

• Get Work Experience

The next step is to gain work experience in business or management. Work experience will help you gain a deeper understanding of how businesses operate and how to manage different aspects of a business.

Not only that, work experience will also help you gain the interpersonal and communication skills necessary to become a consultant. In this way, you will be able to face various kinds of clients smoothly and impressively.

• Develop Skills and Knowledge

While working, you can develop the skills and knowledge needed to become a successful business consultant . Skills such as business analysis, project management, and interpersonal communication are essential to hone.

You can also gain knowledge about the industry and current business trends by reading books, articles, and other publications on business and management.

• Build Broad Connections

Build a network with people in the industry or business you want to serve. Good connections can help you gain clients as well as potential business. Thus, more opportunities will open up for your career. 

• Register as a Business Consultant

Once you have acquired the necessary knowledge and skills, you can register as a business consultant . You can apply independently or join an existing consulting firm.

How Much Does a Business Consultant Make?

The salary of a business consultant can vary depending on work experience, level of education, industry served, and geographic location. In general, the salary of a business consultant can be around IDR 6 million per month for entry level and IDR 10 million per month for those with more than 3 years of experience.

Interestingly, as reported by GrabJobs , the average salary for business consultants in Indonesia is IDR 12 million per month. This salary does not include various allowances and bonuses that they get if they succeed in achieving company targets.

For the record, business consultants who work in big cities will earn higher salaries. Additionally, a consultant who works in the financial or information technology industry tends to earn a higher salary compared to consultants in other businesses.

Business Consultant Prospects

Job prospects as a business consultant are very diverse, and the field of work depends on specialization and personal interests. Following are some of the areas of work that a business consultant can pursue:

• Management Consultant

This consultant focuses on the general management of the company. They help companies improve operational efficiency, optimize organizational structures, and develop long-term business strategies. Projects can be restructuring, business process improvements, or strategic planning.

• Financial consultant

Financial consultants work with companies to better manage their finances. They can help with budget planning, investment analysis, risk management, or financial restructuring.

• Human Resources (HR) Consultant

HR consultants focus on workforce aspects. They assist companies in developing HR policies, employee recruitment and selection, training and development, and performance management.

• Marketing Consultant

Marketing consultants help companies develop effective marketing strategies. They can design advertising campaigns, market analysis, and branding strategies.

• International Business Consultant

These consultants work with companies that have international operations or that wish to enter global markets. They help companies identify opportunities in foreign markets, overcome trade barriers, and manage logistics issues.

• Sustainability Consultant

In an era of increasing concern for the environment, sustainability consultants help companies design and implement sustainable initiatives. They can help companies reduce their environmental impact and meet sustainability standards.

• Startup Business Consultant

This consultant focuses on supporting startup companies. They can assist in business model development, growth strategy, fundraising, and product launch planning.

• Small and Medium Business Consultant

These consultants work with small and medium-sized companies to help them grow and compete in larger markets.

Ultimately, becoming a successful business consultant requires hard work and determination. With relevant education, work experience, developed skills and knowledge, and a strong network, you can build a successful career as a business consultant .

Break Even Point (BEP): Meaning, Benefits, & Formula for Calculating

 In business, it is important to understand how much you need to sell a product in order to break even or Break Even Point (BEP) . BEP is the point at which the income generated is equal to the costs incurred, so that no profit is made or a loss is made. Learn more here!

What is Break Even Point (BEP)?

Break Even Point (BEP) is the point at which the income generated is equal to the costs incurred. In other words, BEP is the point at which a business makes neither a profit nor a loss. 

BEP itself is one of the basic concepts in cost-benefit analysis. By understanding it in depth, you can be helped to make better decisions in business and various businesses.

Understanding Break Even Point (BEP) According to Experts

Several business experts have different definitions of BEP. However, basically, BEP is the point at which a business makes no profit or loss. Here's the list!

• Mulyadi: BEP is a break-even situation where a business does not make a profit, but also does not suffer a loss. This happens if the amount of income is the same as the amount of costs, or if the contribution profit is used to cover service costs.
• Please: BEP is the condition or performance of a company where there is no profit and no loss. This means that all costs that have been incurred can be covered by the income from a product.
• Horngren, Sundem, and Stratton : BEP is the point at which total revenue equals total costs.
• Hansen and Mowen : BEP is the point at which total costs equal total revenue, so that the company experiences no losses or profits.
• Kieso, Weygandt, and Warfield : BEP is the point at which the company experiences neither profit nor loss.
• Garrison and Noreen: BEP is the point where revenue equals total costs and net profit equals zero.

Goals and Benefits of BEP

For business owners, understanding the goals and benefits of BEP is an important key to planning effective business strategies and making the right decisions.

• Calculating Total Production Costs

Before calculating BEP, business owners must understand the total cost of production. Production costs consist of fixed costs and variable costs. Fixed costs are costs that remain the same no matter how many products are produced, such as rent for a building or salaries for permanent employees. Meanwhile, variable costs are costs that change according to production, such as raw materials or wages for production workers.

To calculate total production costs, business owners must add up fixed costs and variable costs. For example, if fixed costs are IDR 10 million and variable costs are IDR 5 million to produce 100 units of product, then the total production cost is IDR 15 million.

• Calculating Profit Amount/Margin

After understanding the total production costs, business owners can calculate the profit amount/margin. Profit margin is the difference between the product selling price and production costs per unit. 

To calculate profit margin, a business owner must subtract the production costs per unit from the selling price per unit. For example, if the selling price per unit is IDR 100 thousand and the production cost per unit is IDR 50 thousand, then the profit margin is IDR 50 thousand per unit or 50%.

• Planning and Calculating When to Return on Investment

BEP helps business owners to plan and calculate when the business will return on investment. Break-even is when the income from product sales is equal to production and operational costs. To calculate when a business will return on investment, business owners must calculate BEP.

For example, if the total production cost per month is IDR 500 million and the selling price per unit is IDR 1 million, then the BEP is 500 units per month. If the business owner can sell 500 units of product per month, then the business will return on investment.

• Business Feasibility/Profitability Analysis

Business feasibility or profitability analysis helps business owners to know whether their business is viable and profitable. This analysis can be done by calculating BEP and profit margin. If the BEP is high and the profit margin is low, then the business may not be viable and profitable.

However, analyzing the feasibility or profitability of a business is not only based on BEP and profit margins. Business owners also need to consider other factors such as the market, competition, and trends in the business itself. 

For example, if the market is highly competitive and demand for the product is low, then the business may not be profitable despite high BEP and profit margins. Conversely, if the market is booming and competition is low, the business may be profitable even though BEP and profit margins are low.

Break Even Point (BEP) Elements/Components

In calculating the Break Even Point (BEP), there are several elements or components that must be known. Here's the list!

• Fixed cost

Fixed costs are costs that do not change even if the amount of production or sales changes. Fixed costs include employee salaries, building rental and administrative costs.

• Variable Costs

Variable costs are costs that change according to the amount of production or sales. Variable costs include raw material costs, direct labor costs, and shipping costs.

• Cost of goods sold

Cost of goods sold is the total costs incurred to produce and sell a product or service. Cost of goods sold includes fixed costs and variable costs.

• Revenue/Profit Margin

Revenue/profit margin is the difference between the selling price of a product or service and the variable costs incurred. The resulting revenue/profit margin must be sufficient to cover fixed costs and reach the break-even point or BEP.

Formula for calculating BEP

To calculate the Break Even Point (BEP), there are several formulas that can be used. Here are some of them!

• Formula for calculating BEP units

The formula for calculating unit BEP is as follows:

BEP Unit = Fixed Cost / (Unit Price – Unit Variable Cost)

• Formula for calculating BEP Rupiah

The formula for calculating Rupiah BEP is as follows:

BEP Rupiah = Fixed Costs / Contribution Margin

The contribution margin itself is the difference between the selling price and unit variable costs.

Example of calculating BEP units

For example, a company sells a product with a unit price of IDR 20,000 and a unit variable cost of IDR 10,000. The fixed costs incurred by the company are IDR 50,000. So, how many products must be sold for the company to reach BEP?

BEP Unit = Fixed Cost / (Unit Price – Unit Variable Cost)

BEP Unit = 50,000 / (20,000 – 10,000)

BEP Units = 5,000 units

So, the company must sell a minimum of 5,000 units of product to reach BEP.

Example of calculating BEP Rupiah

For example, a company has fixed costs of IDR 300,000,000 and a contribution margin of 30%. What sales value must the company achieve to achieve BEP?

BEP Rupiah = Fixed Costs / Contribution Margin

BEP Rupiah = 300,000,000 / 0.3

BEP Rupiah = 1,000,000,000

So, the company must achieve sales of IDR 1,000,000,000 to reach BEP.

Factors that Increase the BEP Period

When a business has reached BEP, the company will start to achieve profits. However, there are several factors that can increase the BEP period, namely:

• Increased Goods Production

If the company decides to increase production, then production costs will increase. As a result, it will increase the BEP period. This is because the more goods produced, the more production costs are incurred.

• Production Material Costs Rise

An increase in production material costs can have a major impact on the BEP period. If production material costs increase, overall production costs will increase and it will take longer to reach BEP.

• Tool Repair

If the machines or equipment used in production are damaged and require repair or replacement, production costs will increase. This can increase the BEP period because production costs will increase.

How to Speed ​​Up the Break Even Point (BEP) Period

In business, the sooner the BEP period is reached, the better the company's financial condition will be. Here are several ways to speed up the minimum BEP period per point.

• Increase the number of product sales

One way to speed up the BEP period is to increase the number of product sales. The more products sold, the faster BEP is achieved.

Therefore, companies need to carry out effective and efficient marketing strategies so that their products can be recognized by consumers and gain their interest.

• Increase Prices/Increase Profit Margins

Apart from increasing sales, another way to speed up the BEP period is to increase product prices or increase profit margins.

However, it should be noted that price increases must be adjusted to market conditions and consumer purchasing power. Don't let price increases make consumers switch to cheaper competing products.

• Reducing Production Costs

Another way that can be done to speed up the BEP period is to reduce production costs. Low production costs will enable companies to achieve BEP more quickly.

Companies can make production cost efficient by looking for cheaper but still quality raw materials, optimizing the use of electrical energy and water, and minimizing damage and failure to production machines.

• Labor Efficiency

Labor is an important factor in the production of a product. To speed up the BEP period, companies need to ensure that the workforce they have is efficient and effective in carrying out their duties. 

Companies can provide training for workers so that they can improve work quality and productivity, so that production times can be faster and production costs can be reduced.

From the review above, it can be concluded that BEP can crucially influence business decisions. The reason is, BEP can provide accurate information about the financial health of a business.

By knowing BEP, entrepreneurs can determine the right strategy to increase sales and reduce costs. Hopefully this article can give Bizharian Friends insight into what BEP is and its role in business.