Business in Indonesia.
The spirit of entrepreneurship is alive and well. The knowledge behind the spirit is lacking.
This is not an insult, nor is it meant to be. However, the lack of knowledge is hindering the growth and strength of business-minded individuals.
I only assume that because there are many small street-side and curbside vendors in Indonesia, it is quite easy to set up shop and do business. Best of all this is done with minimum investment. All is well and good, but when a legitimate business is opened and space is rented yearly, and the spot by the side of the road is dirt cheap, circumstances change.
Pay Yourself.
This point is missed quite often. Many small business owners do not realize that they need to pay themselves. That they are employees in their business.
Often this point is missed because they see the cash at the end of the day. Yet when all is said and done, raw materials are paid, and they made very little money for the hours they put in. This point is not only valid for the locals in Indonesia but worldwide. How much did you as a business owner make after taxes and all your overhead costs?
Planning and marketing.
The local little shop has to have return customers that are used to grabbing a bite on the way to work. It is much like watching a sitcom on TV. The regulars come and the vendor makes a dollar or two. Yet they are stagnant. They are not growing and expanding their customer base. It is nearly impossible because the local streetside vendor has the same customers day in and day out.
They do pick up drive-by traffic and so there is a survival rate for most of these places. However, a real business, a real brick-and-mortar-style shop needs a plan.
Bali is Different.
I have touched on this before. But imagine people pouring into your restaurant. Like those towers of champagne flutes that get filled at parties from the top down.
When one place is full there is a trickle-down effect in Bali. From one restaurant to another at peak time you will not get a table. Most places are first come first serve. So, people go from one place to another until they find a table.
People in Bali never had to fight for business. Even crappy restaurants survived until they were weeded out by the pandemic. This has made a huge change in business operations and planning. People are still coming to grips with the fact that their place is empty while others thrive. Planning, planning, and more planning, in this case, marketing will give you an edge.
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Zsolt Zsemba 