How to Manage Finance Carefully for The Future

Many people feel 'rich' every time their paycheck comes in at the beginning of the month. As a result, the salary was spent in a frenzy without considering the burden of the future. However, as we enter the middle of the month, the contents of the wallet dries up and savings are required.

Experiences like this can happen if you don't know how to properly and carefully manage finances. Do you already know the meaning of financial management? Financial management is an activity that includes planning, budgeting, controlling, controlling, seeking, storing funds.

Until protection is realized to achieve a guaranteed financial situation. This does not only apply to institutions or companies, but may also apply to personal financial conditions. If you do not know how to manage money well, it will certainly cause inconvenience.

How to Carefully Manage Finances

So the question is, why should you know how to manage finances? Of course, to prevent a deficit in finance. Good for managing personal finances, family or even business finances. Then what should be done so that there is no shortage situation. Here it was delivered:

1. Create a Monthly Spending Budget

The emergence of a financial deficit situation can occur due to a lifestyle that tends to be exaggerated. This happens when you use money for wants, not needs. The first way to manage finances is to make a monthly spending budget. Calculate all the monthly income you receive (from your main job or non-business). Other incomes that are not fixed in nature, such as bonuses and overtime, do not need to be calculated. It comes later, it is used to fulfill your desires, not your needs.

The next step in the method of managing finances by making a monthly spending budget is as follows:

• Use stationery or gadgets to calculate and change your budget while checking your checkbook and credit cards so you don't miss anything.
• Then make a budget for each month's expenses. Divide the budget into two parts, income and expenses. If you have made an account before, it is enough to fill it.
• Subtract the new revenue from the total total cost. This is done to see the difference in positive numbers to find out that the budget is balanced (the same between income and expenses).
• If the difference is a negative number, try to make adjustments by removing less significant weights.
• Keep a good copy of your monthly spending budget in case it happens at a later date.

Make sure your total monthly spending budget does not exceed your total monthly income. This is to prevent debt bondage from occurring in the future.

2. Determine Salary by 50-20-30.

Besides making a monthly spending budget, there are other ways to manage finances using formulas. So what is the formula for managing finances and how is it good and correct? This is to determine the salary using the 50-20-30 principle. Divide the salary into three parts, 50%, 20% and 30% respectively.

An example of how to manage finances with the 50-20-30 principle is as follows:

• 50% share for basic or primary needs. Basic necessities take up a larger percentage as they meet daily life.
• 20% share for savings. With savings, you'll be better prepared if something unexpected happens in the future.
• 30% share in the fulfillment of wishes. Giving a share or a share for the fulfillment of desires should be done in a way that does not interfere with other expenditure items.

With this formula for finance management, it will be easier for you to learn how to manage finances carefully.

3. Throw Life Habits From Payroll to Payroll

Living from paycheck to paycheck is an old habit. Once you know how to manage your money properly, you will no longer adopt this habit. How to manage 2 to 3 million salaries will be easy once you know the principles.

You can apply some of the following financial management ways to break the habit of living from paycheck to paycheck.

• Make a budget for each month. This budget can help plan expenses and make more optimal use of revenue.
• Make sure you know where your spending is going each month. Record each expenditure in detail to make it easy for you to evaluate expenditures each month.
• Reduce all unnecessary expenses such as the habit of drinking coffee in cafes, shopping for clothes, transfers between banks. These expenses sound small, but they are worth it when they are collected and saved.
• If possible, increase your income again each month.

The most important thing about managing finances is that it is much easier to manage finances by changing your mindset about salary or money. So, even though the salary is limited to 2 million, there is no longer any reason not to practice how to manage finances.

4. Plan Projection or Self-Image in Old Age 60+

Have you ever thought about what the living conditions will be like in your old age, will you be able to calm down without thinking about any burden? Or will it be difficult? Of course, not everyone wants to be a burden to their children and grandchildren in their old age.

In order for this not to happen, you need to plan a picture or projection of yourself in old age. There are two paths you can take for old age, namely with financial planning and work. Financial planning is done by investing in and preparing for pension funds.

Consider the sources of pension funds, backup plans for health, and inheritance plans such as wealth distribution. In this way, long-term retirement projections become ready. The second way is to do business or do business.

It is recommended that you have a business or invest in a relative's business at least 5 years before retirement. Managing company finances in this way is considered to be quite effective for old age.

5. Prepare an Early Retirement Fund

Thinking about pension funds should be done when you are young as the best financial management step. This aims to prevent financial problems from appearing later in your life when you retire. Therefore, there are several ways to manage personal finances to prepare for retirement, such as:

• Set aside a few servings each month to set aside as a retirement fund preparation.
• If possible, increase the monthly pension amount again every year.
• Do not mix pension funds with other funds to avoid using these pension funds.
• Invest with a pension fund so that the fund can grow even more.
• If necessary, follow government and banks' pension fund offering programs.
• One thing is for sure, never delay in preparing your superannuation fund early.

6. Prepare Emergency Fund for Urgent Needs

It's not just pension funds you need to prepare. You should also prepare an emergency fund to be used when there is an urgent need. So, how do you properly and properly organize and manage your finances? Consider the following method for preparing an emergency fund:

• Start saving or investing. The deposit can be in the form of jewelry or precious metals.
• Seek additional income if possible. Whether it's a job, self-employment or other.
• Reduce spending on lifestyle or temporary desires as much as possible.
• Consistently allocate about 50% of the funds (or adjust the skill).
• For those of you who are married, you should use the cost-sharing method with your spouse.

The key to managing finances in preparing an emergency fund is to allocate funds wisely and fairly and avoid debt as much as possible.

7. Insurance as a Protection or Safety Net for Financial Conditions

Some of you may still not understand the functions and benefits of insurance. Insurance itself can be said to be a financial protection or safety net. The thing is, when something bad happens in or in the future that requires you to spend quite a bit of money as a way to pay for damages

You don't have to pay in full for it if you have insurance. The insurance company will then pay compensation. Of course, insurance is very important for your financial situation. Especially when it comes to health, spirit and tools. These three categories have the highest risk of unexpected events in the future.

8. Allocate Dues for Health and Employment

As important as insurance, you also need to have BPJS Health and BPJS Employment. This will make it easier for you to reach health institutions. Your obligation to this BPJS is only to pay dues each month so that you can get the facilities.

Therefore, paying BPJS contributions is also one of the efforts or ways of careful financial management. The BPJS fee can also be adjusted based on the class you take. You can then estimate how much must be set aside to pay BPJS contributions.

9. Carefully Check Invoices and Pay Promptly On Time

Another way of careful financial management is to be diligent about checking the bills that are due. This is so you don't have a pile of bills that could cause debt. Therefore, record as much of your invoices and due date as possible. Bills paid on time can also prevent you from being penalized for late payments.

10. Establish a Clear Savings Goal

Saving is also a way of carefully managing finances, which is easy for anyone to do. This way of managing money well applies to all people, including students, students, housewives and employees. You need to save your goals and objectives not only in saving, but also in saving. For the purpose of buying a house, going on a pilgrimage, or preparing children's education funds?

11. Set aside some money to save

Allocating some funds for savings is also one of the best ways to manage finances. With savings, financial conditions will be more beneficial in the future. Saving will make you feel calm and relaxed in life.

12. Scheduled or Term Savings Account with Automatic Debit System

There are many temptations that arise when you think about saving on a consistent basis. At any time you may be tempted to use some of your savings for things that are not really urgent. Well, for those of you who experience this often, use the Autodebet system from salary account to term savings account so the savings can add up even if you haven't specifically set them aside.

13. Generate Daily, Weekly, Even Monthly Financial Reports

To prepare financial reports, not only is the company's financial management system necessary, but as a form of financial management, you should also make regular personal and family financial reports. Make monthly, weekly and daily financial reports so that money in and out is clearer and more measurable. With a detailed report, you can not spend money carelessly.

14. Keep costs as small as possible

Recording the smallest possible expenditure of funds is crucial as a means of careful financial management. This is so you really know what the funds are for. Even if the expenditure is only 1 cent, it will still have an impact on the adjustment of the expenditure budget.

15. Invest Gradually ( The Power of Investing )

Not only do you need to save, but you also need to invest. Saving doesn't make you rich, but investing makes your assets grow. For example, by investing in gold, stocks, mutual funds, land or others, your assets will increase with the increase in the prices of these assets. So make sure you invest in the future as well.

This is How to Make an Instagram Business for Sales

Instagram is one of the most accessed social media in Indonesia. According to research data published by Napoleon Cat, Instagram users currently reached 69.2 million (69.270.000) users in Indonesia during the January-May 2022 period. This figure continues to rise month to month.

Especially since the work-from-home (WFH) policy was implemented in early 2020 amid the Covid-19 pandemic. A large number of Instagram users in Indonesia make this photo sharing platform the right tool to attract customers. Especially if the business is conducted online.

Instagram can be a strategic place to promote products and build relationships with customers. You can use an Instagram Business account to make it easier for you to start a business and interact with customers. You don't have to worry about creating a business Instagram account because it turns out to be a really easy and practical way.

What is business Instagram ?

Business Instagram is created specifically for business purposes, the features offered are different from personal Instagram accounts. Thanks to Instagram Business, you can reach customers more easily and promote them.

Therefore, for those of you who own a business or start a new business, you should have a dedicated Instagram business account. To optimize your business marketing. Instagram Business has features that can make it easier for you to process customer data

Such as content and event information. There is also a "button" that can be forwarded specifically to your email address or business contact number. Then the question is: How to create an Instagram Business account? Here, Qoala explains how to create an Instagram Business account to optimize your business.

How to Create a Business Instagram Account

Overall, how to create an Instagram Business is not difficult, you can have an Instagram Business account with just a few steps. But before you create a business-only account, make sure you have a personal Instagram account, okay! If you already have a personal Instagram account, just take a look below on how to create an Instagram Business account:

1. Using an existing account

The first way to create a business Instagram account is to log into the Instagram account you had before. Login to the account by entering the Username and Password as usual. After logging into Instagram, click on the profile section.

2. Go to Settings Page

Next, click the Settings page or Settings. This menu is in the top right corner of your profile page. Then after entering the Settings page, click on the Account option. The next step to create an Instagram Business account is to click on Switch to Professional Account at the bottom.

3. Select the Business Category

In the next step, you will be asked to specify the type of profile to use. There will be two options, Creator and Business. Creator's Choice is for people who create content on Instagram like Influencers, Artists or Bloggers. Business is designed for specific companies, brands or brands. Next, select the Business option as your purpose for creating a business Instagram account is product marketing.

Next, select the business category you are running. There are several business category options you can use, such as Local Business, Personal Blog, Product/Service, Art, Musician/Group and many more. You can also type appropriate business category keywords directly into the Search column. If you selected it, click Next.

4. Fill in the Communication and Business Category

In the next step, you will enter the person review page. On this page you need to fill in some missing data such as phone number, email address and business location. This is necessary to make it easier for potential customers to contact your business to process transactions.

5. Link Account to Facebook Page (Optional)

In the next step, you will be asked to link your Instagram Business profile to your old Facebook Page. The purpose of this link is to automate posts on your Facebook page every time you update content on your business Instagram account.

However, this step is optional. If you do not have a Facebook Page, you can click Connect to Facebook. By choosing this option, you will not automatically link these two social media platforms.

6. Complete the entire Profile Section

Next, how to create an attractive Instagram Business account is to complete all parts of the profile. Fill in the data according to the business you run. Don't forget to include your name, username, website address (if applicable)

Your bio and of course a profile photo so your business will be more credible. Try to fill this profile page as completely as possible and avoid typos so potential customers can get to know your business better.

Features in Instagram Business

As mentioned earlier, Business Instagram accounts have different features than personal Instagram accounts. The features in the Instagram Business account are commercial, so you can reach customers more easily, increase brand awareness and take action.

Before you can optimize your Instagram Business account, you must first understand its features. The following are the Instagram Business features you should know.

1. Detailed Business Category Information

The first Instagram Business feature that differs from a personal Instagram account is detailed business category information. Details for this business category are located just below your business name when viewed on the Instagram Business account profile page. 

You can help visitors get to know your business better by using detailed information about this business category to view your business type. There are many job category options to choose from 

• Music
• Tour & Travel
• Beauty
• Agency
• Design
• Retail Business
• Fashion
• Finance

You can select this business category and set it up when registering or signing up for an Instagram Business account.

2. Contact and Email button

The difference between the features of a Business Instagram account and a personal Instagram also lies in the contact and email buttons on the profile page. This privilege is what you get if you use an Instagram Business account.

The presence of these two buttons can make it easier for customers to reach your business. This contact and email button feature can take customers directly to the search screen on their mobile phone so they can easily contact your business, then connect via email and offer the option to open Maps showing your business location.

3. Instagram Stats

Another advantage that Instagram Business has over a regular personal Instagram account is the Insights feature. This feature is a data analytics tool that shows every activity on your account page. With this feature, you can clearly see the job performance.

Beginning with profile visitor demographics, interactions on content, down to favorite times in your account. The data available through Instagram Business Insights is very different from a personal 

Instagram account, where you can usually only see the number of followers, likes and comments on your account. Here are some Insight types you need to understand in order to better use this Instagram Insight feature.

a. Content Analysis

This feature is one of the most important parts of Instagram Insight. The Content Insights feature in Instagram Business shows user activity and engagement with your posts on your posts or Instagram stories.

With this feature, you can see Instagram posts and stories sorted by reach, impressions, engagement, likes, followers, comments, saves and profile visits. This information is very useful for measuring what content is performing well so you can find out why and then reproduce it for future posts.

b. Event Insights

There's also data on Activity Insights. This feature includes interaction and discovery data. This engagement section shows actions taken on your business profile over the past week. Like profile visits and the number of clicks on the link you put in your profile.

You can also view data on clicks on contact, email and map buttons in this section. Later, in the Discovery section, which is also a part of this feature, you can see how many accounts your Instagram Business profile

Has been reached and the number of impressions (including how many times your post has been viewed, including repeated views from the same account). received last week.

c. Audience Insights

Finally, there is the Audience Insight feature. This feature shows demographic data about your business' Instagram account followers. Here you can see the breakdown of age, gender, and locations where users interact with your Instagram Business profile.

In this feature, you can also see the average time and day your profile gets the most engagement. This data is very useful for your business so you know when is the right time to upload the latest content.

4. Instagram Ads

The next feature of Instagram Business that is important to your business is Instagram Ads. This feature is the right tool to reach more potential customers. Thanks to this Instagram Ads feature, ads can be adjusted based on age, demographics, interests, behavior, etc.

You can target a more specific audience based on If you use this feature, your ad will appear on your target audience's Instagram timeline. You can also advertise in the margins of the viewer's Instagram story.

How to Create an Attractive Business

Instagram Business is a way to monetize Instagram that you can try. But there are a few tips you can do to make your Instagram business look attractive. Here is Qoala's review on how to create an attractive Business Instagram account.

1. Identify the Appropriate Audience

The first way you can do to make your Instagram Business account profile more attractive and visitable is to identify the appropriate audience. Before creating an Instagram Business account, try audience research as a first step. By using the right audience, your business performance can work more optimally.

2. Optimize Your Business's Instagram Bio and Profile

Instagram Business Bio can be filled with a maximum of 150 characters. Therefore, you should use it appropriately to make a good first impression with your potential customers who log in through your Instagram Business profile.

An interesting example of an Instagram Business bio is one that writes a statement about the product, benefits, value, or provides information about the promotion running.

3. Establish a Consistent Shipping Schedule

The way to create an attractive Instagram Business account is to deliver content consistently. We recommend creating a consistent content posting schedule. For example, let's say you upload content to your feed 3 times a week, and then upload at least one post to your story each day.

You can get the right time to post from the Instagram Insight feature. Once you create a content posting program, make sure you upload it consistently on a schedule so that your followers are always exposed to the product, so your product can be first in their minds.

4. Create Interesting and Interactive Content

Instagram is a very visual oriented social media. Therefore, you must be able to present visually appealing content. Also, be sure to make interactive content so that interaction can occur in the Instagram content you publish. 

Ask about Instagram Business content ideas you can try, such as the target audience's product selection. You can also create content related to the daily life of your target audience, so you can make them feel closer to your work. Here are some Instagram Business content ideas you can try.

a. Repost Audience Photos or Videos

You can try to create content in the form of reposting photos or videos uploaded by the viewer so that engagement with the audience happens. This type of content is known as user-generated content or UGC. With this content, you can create positive interactions with your followers and customers on Instagram.

b. Create Occasional IGTV or Live Content

The next business Instagram content idea you can try is creating IGTV or Live content. Thanks to these two features, you can have a direct question-and-answer session with the target audience about the products or services you offer. You can invite relevant speakers or guest stars to make it more interesting.

c. Create Special Promotions and Giveaways

This method is very powerful to add followers quickly. You can create rewarded special promotions or giveaways for your business products or services. In addition to adding followers, giveaway content can also increase interactions in your Instagram Business account.

d. Enjoy Instagram Contacts Features

It can be said that this feature is new to Instagram, that is, Instagram Guide. This feature is used to combine content you've already posted. For example, if your business sells pastries, you can combine your posts about similar pastries in the Instagram Directory into one upload. This will make it easier for customers who want to learn more about your business.

5. Active and Interactive on Instagram Stories

Try to be active on Instagram Stories to make your Instagram business more interesting. You can create interactive Instagram Story content to increase the interaction on your business's Instagram profile. For example, you can create content about questions and answers or other content that invites audience participation.

6. Leverage Instagram Ads

You can take advantage of the Instagram Ads feature to reach a wider audience. This feature can be an alternative to help you market your product to a more specific audience. If you take advantage of the Instagram Ads feature, you can target audiences by demographic, interests, age, gender, and behavior.

7. Perform Content Analysis Periodically

The final way to make your Instagram Business more optimal is to conduct content analysis on a regular basis. You can use the Instagram Insight feature on Instagram Business to do this analysis. If you need more specific and complete data

You can also use the help of other social media analytics tools like Hootsuite Analytics, Iconosquare, Sprout Social, Bitly, Keyhole and more. You can use the results of this analysis to create more engaging and targeted audience content.

This is the way to create a business Instagram that you can try. With persistence and consistency, of course, you can develop your business well on Instagram. If you succeed later, remember to manage your income wisely. This is because you don't know how long the trend on Instagram can hold benefits as it is today, so careful financial planning is essential.

What is Opportunity Cost ? This is an Example, To Make The Right Decision

There is a term in economics called opportunity cost. Approximately what kind of costs, yes. In the Journal of Consumer Research, Spiller defines opportunity cost assessments as alternative options to focus on needs.

In simple terms, opportunity costs are costs incurred due to certain choices due to no other option being chosen. These costs may arise due to the limited economic resources of individuals or companies. Money, time, energy etc.

This is why people have to make choices in life and make sacrifices for other choices. See the article below for more details.

What Is Opportunity Cost

According to the Financial Services Authority (OJK), opportunity cost is income from alternative options for mutual funds other than those considered. For example, when Buddy Finansialku chooses to invest in bonds instead of deposits because it is more profitable.

Summary:

• In simple terms, opportunity costs arise due to certain choices because no other option is chosen.
• Opportunity cost is not always about money. Opportunity costs have various terms and characteristics.
• In a business or corporate context, opportunity costs can help business owners or stakeholders make the right decisions.

Characteristics of Opportunity Cost

Opportunity costs are not always about money. There are several conditions and features such as:

• Long-term profit, happiness, leisure, etc.
• It offers many possibilities or alternative options as a result of the emergence of opportunity costs.
• The choice of opportunity cost depends on the needs of each individual or company.
• It is usually in the form of secondary and tertiary needs of individuals or companies.
• In an individual context, opportunity cost is a kind of sacrifice for the option to get something else.

Opportunity Cost Types

There are several things to consider as a form of opportunity cost. Such as the availability of money, time and energy.

However, the most common types of fees include:

1. Implicit Opportunity Cost

It is an intangible cost that we cannot calculate in numbers. For example, if you want to buy food for delivery, the implicit costs are waiting time, profit, satisfaction level, and pleasure.

2. Explicit Opportunity Cost

It is a cost that we can easily calculate. For example, amount of goods, money, amount of assets, profit, etc.

• Opportunity Cost Function
• Opportunity costs in a business cannot be presented in financial statements.

But it is useful when making decisions that require choosing from many options. Here are some of its functions, including:

• Assisting individuals or companies to calculate the cost of working capital.
• It facilitates the determination of the scale of priority in a business.
• Help save on business finances by choosing more substantial opportunities, less capital and bigger profits.
• Get the best and most suitable alternative options for individuals or companies.

 Opportunity Cost Benefits

In the context of a business or company, these costs can help business owners or stakeholders make sound and profitable decisions.

Here are some of the advantages in a business, among others:

• Provide opportunities to minimize risk with more promising returns.
• Make it easy for business owners to calculate estimated working capital.
• Help set business priorities in decision making.
• Save on operating expenses that are less or insignificant according to the selected priority.

Factors Affecting Opportunity Cost

Making the right decision isn't easy, of course, because we have other opportunities to sacrifice. Various factors affect it, including:

• Money or capital owned in a business or company.
• available resources.
• Profit or expected profit.
• The current resale value of the product or service.
• Advantages, disadvantages, risks and solutions of the choices made.

How to Calculate Opportunity Cost and Example

If you are facing scarcity or limited resources, you must take the right steps. There are two ways you can calculate opportunity cost:

• If there are two options, the opportunity cost is the difference between the value of the opportunity you chose and the value of the opportunity you did not choose (sacrifice).
• If there are more than two options, the opportunity cost is the opportunity value you sacrifice and has the greatest value.

Basically, these costs should always yield a profit. To understand the concept of opportunity cost, Finansialku will make an example of opportunity cost below as an example.

1. Example One

Pak Bandi has a store unit in a strategic area as a business location. According to the plan, Mr. Bandi will use the store as a warehouse for stock of retail business products.

But his friend Mr Murti wants to rent the shop for Rp 60,000,000 a year. When Pak Bandi decides to rent the shop, he will miss the opportunity to profit from his business development.

Also, Mr. Bandi needed to find another place he could use as a warehouse. Limited resources in the form of buildings or shops that require him to choose one opportunity and lose another opportunity are called opportunity costs.

2. Example Two

Mr. William has Rp 450,000,000 in cash. With this money, he has the opportunity to buy his dream car for 400,000,000 IDR.

Or earn the money as additional working capital of 350,000,000 IDR. Eventually, Mr. William decided to use the money as additional capital for his business.

Thus, Mr. William lost the opportunity to buy a car, hence the resulting opportunity cost was IDR 350 million. The above example can be proof that the budget allocated to buy something can be directed towards other needs.

Therefore, it is very important for us to have an understanding of how to manage money wisely. If you are still confused about how to do it, you can start by checking out the free ebook Finansialku The Importance of Managing Personal and Business Finances.

3. Example Tree

Farah has Rp 30,000,000 that she plans to invest. In this case, there are two investment products, both of which are of great benefit. The first investment product will yield 5% and the second product will yield 7%.

If Farah uses her money to invest in the second product, the 2% difference between the two alternatives is the opportunity cost sacrificed.

4. Example Four

After completing his undergraduate education, Ajeng preferred to deepen his English for 3 months for Rp 7,000,000 instead of working at a notary public with a monthly salary of Rp 5,000,000.

 If we count, the salary of working at the notary public for 3 months is Rp 21,000,000. As Ajeng chose to deepen her English, she earned Rp 21,000,000 for 3 months by working at a notary public.

Solution

Make the Best Decision! This was a complete explanation of opportunity costs with examples. Do you already understand what opportunity cost is and how to calculate it? 

If you're in a stressful situation that requires you to make a choice, do your best. To make the best decision. If you need advice when making financial decisions, don't hesitate to discuss it with my Financial Planner.

How to Become a Successful Reseller, To Profit Every Day

Today, the existence of the Internet has become one of the most important needs for most people. Especially in the economic field, the internet has a huge impact, and one of them is the emergence of e-commerce. E-commerce provides a space for online trading.

The presence of buying and selling online makes people want to know details like how to become a reseller, how to become an online seller, how to become a dealer business and how to register as a Lazada dealer, how to open a store. and sign up to become a Shopee seller, etc.

Unfortunately, although this business is very profitable, many people do not know it well and still tend to be ignorant about how to become a dealer. In fact, if understood correctly, becoming a reseller can be a good choice if you want to generate income from online networks.

What is a Reseller

If you want to know how to be a successful dealer, you need to know what the dealer business is and how the concept or system works. At a glance, you can immediately guess what a dealer is. Because if you pay attention to the word itself, dealer can be divided into two meanings.

The first is 're', which means to return or repeat. The second is 'seller' which means seller. In this case, when the two meanings are combined, it can be concluded that a seller is a "dealer" or persons reselling products previously sold by others.

So what exactly is a dealer? Well, if you get an understanding from the method above, practically a dealer is someone who sells a product that is sold by a party by mutual agreement on price and system. For example, there is a hair accessory seller in China and you intend to sell the product in Indonesia, in which case you are the seller of the Chinese product.

Benefits of Being a Reseller

After learning at a glance what a reseller is and how the concept works, we will discuss the benefits of working as a reseller. Below are some of the advantages of being a reseller.

1. No need to leave the house, just use the internet

Reseller is a flexible business. This means that a dealer can do his business anywhere, including from home. If you become an online business seller, you only need to help suppliers market their products to the right market to get lots of buyers.

There will be goods distributed with a buyer. You do not need to leave the house to deliver this item. Since it is sufficient to transmit the buyer data to the supplier, then the supplier himself will send the goods purchased by the customer using certain discovery services.

Of course, even if you have to send goods, you still don't have to leave your home to run this business. The expedition to take the goods home. Isn't it easy? You can become a dealer without leaving home only with the internet.

2. Required capital tends to be small

Unlike opening your own shop or selling your own cooked food, becoming a dealer does not require a large amount of capital. In fact, you can start by being a no-capital reseller, you know! Because in general, to become a dealer, only smart phone support and sufficient electricity and internet access are required. So at least you need capital loan and internet quota.

3. Can Set Competitive Prices

Being a dealer means taking part in the economic field, especially marketing (marketing). In this case, you can also learn to see the market situation or your target buyers. The advantage of being a reseller is that you can set competitive prices by looking at the shop next door.

For example, if you are a children's clothing dealer, you can determine the price of the clothes you want to sell yourself. Cheaper than the shop next door but still profitable so your product can compete with other competitors.

4. Flexible Stock and Sales Arrangement

A seller does not always need to have a warehouse or a place where he can put his stock of goods. Because dealers can sell without stock. This is what makes sales by a dealer so flexible. Dealers don't have to worry about liability for damaged or expired products.

5. The products sold are diverse

Once you understand how to become a dealer and want to start becoming a dealer, the next advantage you can feel is the wide variety of products sold. Dealer jobs that can be completed online allow you to get suppliers of a variety of goods and from a variety of locations. This gives you the opportunity to sell a very diverse and complete product.

6. Potentially Earn Additional Commissions

If you become a reseller of a leading product provider, you have the opportunity to earn additional commissions. For example, some cosmetics companies have a point system for their dealers. If the dealer manages to sell a product with a certain limit

The reseller earns points and these points can be exchanged for various commissions offered. This policy depends on the regulations of each supplier company, so if you are interested in knowing how to become an online seller, you should do more research.

7. Promotions can be adjusted to be more effective

Promotional strategies are now widely available in online networks. As a reseller, you can customize your own promotional media to make sales more effective. For example, if you are using a specific marketplace or social media, you can go live to market your product and your followers will then receive a notification.

8. Sales System Can Be Combined

The next advantage is that you can assemble your own sales system. Will you use the pre-order system or other systems? The combined system will make it easier for you to sell products.

How to Become a Successful Reseller

After learning about the various benefits of being a reseller, the next section will discuss how to become a successful reseller with little capital. Below are some of the ways you can become a successful seller (for example, if you're wondering how to become an online clothing retailer without capital):

1. Do Market Research Before Choosing a Product

The first and most important way to become a dealer is to do market research before choosing the product you want to sell. In this way, the products you sell will be on target and your target market will buy. For example, if your target market is millennials, you can research what items millennials are using.

For example, you decide you want to become a gadget seller. You can then break down the products by determining which products you will sell. The gadget itself or the gadget accessories? Or maybe just gadget case.

If it's a toolbox you decide to sell, you should also research what kind of safe is preferred by millennials. The deeper you research, the more relevant the product you sell will be to the target market.

2. Make Sure The Product Quality Is Good And Worth Selling

Even though you are basically a reseller that markets and sells products, it is important for you to make sure that the products you sell are of good quality and quality. This will enable your customers to successfully run your business.

3. Choose an Authorized Supplier with Correct Identity

The next way to become a successful dealer is to pay attention to the product supplier you choose. Make sure your supplier is an official party with a correct ID. Products sold can be calculated. This is important because you will be dealing with customers directly, all complaints will come to you before you forward them to the supplier.

4. Understand the Supplier's Sales Rules

Once you have chosen a reliable and well-established official supplier, you can begin to understand the rules for selling products or goods from that supplier. This is important for starting a business so you can practice how to be a successful salesperson.

5. Calculate Procurement and Operational Costs

You also need to factor in acquisition and operating costs. Make sure you can still meet these costs with the little capital you have. Calculating these costs is important in order to be able to map loss of profit and revenue later on.

6. Determine Product Selling Prices Carefully

The next thing you need to pay attention to in how to become a successful dealer is to carefully determine the price of the product you are selling. You can usually set this price after receiving a commission agreement from the supplier.

7. Building an Attractive Brand

Since online sellers cannot leave social media, you need to develop a good and compelling brand strategy. This is important to ensure that customers choose to buy from your online store rather than the next store, even if the items sold tend to be the same. You can apply this as an application of tips to become a beginner seller.

8. Expand Order and Payment Methods Options

In this modern and sophisticated age, people will tend to choose easy and efficient payment methods. Therefore, make sure that the online store where you sell goods has many options for ordering and payment methods. Don't let it be just 1 way and make it difficult for buyers.

9. Prioritize Customer Satisfaction

It is important for you to prioritize customer satisfaction. Their satisfaction is still number one, even though they don't talk to customers directly and only do online transactions. For example, you can provide quality products with promotions and discounts.

10. Main Product Information

If you want to follow how to become a successful dealer with small capital, the thing that should not be missed is to master the product knowledge. You can request complete product information from the supplier. If you know the exact product information, customers will be more confident when shopping in your store online or offline.

11. Expand the scope of the promotion

If you run promotions online, you can easily expand the reach of promotions with various platforms. One of them is using Facebook ads and Instagram ads. You can easily adjust the reach and demographic area.

Application to Become an Online Reseller

After learning what a reseller is, the advantages of being a reseller and how to be a successful reseller, how to become an online store reseller and how to become a reseller, we will discuss what apps are good for being an online reseller.

If you are still confused about which app to use, here are some apps you can use.

1. How to Become an Online Reseller on Supplier.id

Supplier.id is the application to apply to become the first reseller you can use. This platform allows suppliers to easily meet with dealers. You can establish a partnership right away without having to stock up on vendors. The profit will then be split between 20% and 70% of each product.

2. Become a Home Products Dealer on Dusdusan.com

The next application is Dusdusan.com. This application is an online wholesale store specializing in the sale of household products. To become a dusdusan.com partner, you only need to pay 150 thousand rupees for a year. With this fee, you can access catalogs and training materials free of charge and have the opportunity to benefit from discounted prices.

3. Enjoy the Benefits of Being a Reseller at Bandros.co.id

The next app is Bandros.co.id. You can gain many advantages as a dealer in Bandros. The distinguishing feature of this application is its products that support MSMEs.

4. Become an Online Dealer Using Win Market

You can use the winmarket.id online platform to market products digitally. With a network of more than 93,000 sales points, you can enrich the product variety in your online store with great convenience and fun.

5. Cakning, Socially Based Business

The next app you can try is Cakanning, a social-based business. This online business first emerged in Sidoarjo as a response to residents whose economy was affected by the Lapindo mudflow. This site works by supporting Native MSMEs. You only need to pay 100,000 rupees to join the Cakanning network.

6. Tanah Abang Market, Easy Payment System

Tanah Abang is widely recognized as the largest wholesale hub in Southeast Asia. Along with digital developments, this market has an online form known as Tanah Abang Market. By having an easy payment system. Tanah Abang Market allows dealers to get a variety of clothing and apparel at affordable prices without the hustle and bustle to shop directly at Tanah Abang Market.

7. Become a Big Profitable Reseller on Dropshipaja.com

The reseller app that can give you the next big advantage is Dropshipaja.com. This application offers profitable products up to 20-70% of each item. Very interesting, yes!

This is a review of how to become a seller you can try. The way to become an official dealer of Shopee, Lazada, Tokopedia or even Antam is basically the same. You can be a successful dealer even with small capital. Yes, if this is accompanied by maximum effort! You can try it as one of the promising business ideas both in 2022 and in the future.

The Difference Between Reseller and Dropship, Both Profit!

Online business is now mushrooming more and more. One of the most popular types of online business is trading via e-commerce. Speaking of e-commerce, it does not escape the business or services of a seller and dropshipper.

While there is a difference between reseller and dropship, not many people know the difference in detail. Especially for those just starting an online business. So, let's take a look at eduloka.eu.org's review of the differences between resellers and dropshippers below.

What is Dropshipping System ?

Before knowing the difference between a reseller and a dropshipper, it is important to discuss the dropshipping system. The dropship system is basically more consumer oriented or customer oriented. To understand this, you need to pay attention to the flow of the dropship business activity itself because the way the dropship works will refer to this flow.

Flow is a drop shipper that receives an order for goods from a consumer through an online store, waits for the consumer to complete the order, and waits until the process of providing the address and paying for the product.

After the consumer completes the payment, the dropshipper will contact the supplier to provide the ordered goods or products. After that, the supplier or supplier of goods will prepare the ordered goods and also pack or unpack.

The supplier will also undertake to deliver the goods to the consumer's address, either on its own voyage or via a trusted international voyage, for the goods to reach the consumer's address. Then the dropshipper will take a commission directly from the supplier.

The amount depends on the agreement. The system is very easy and practical, yes! Therefore, the dropship business is loved by many people in the current digital age. Then make some dropshipper strategies so that you can run the dropship system smoothly.

These strategies include choosing the right product and product partner or supplier, creative online branding, and specializing in digital devices so you can get up-to-date notifications from purchases.

What is the Dealership System ?

So what is the dealer system and how does it work? The dealer operating system can be divided into several models. This section is used to be more efficient in fulfilling its role in online commerce. The models in the dealer system are below.

1. Profit Sharing

The first is the profit sharing model. In the profit-sharing model, you as a dealer and the supplier will earn fifty-fifty profit or each receive 50% of the profit from product sales. This system can also be basically done by a dropshipper, there is only difference in the system of providing goods or stock.

2. Warranty

The second model is the warranty model. In this second dealer model, the supplier will withdraw some money from the dealer serving as collateral. This means that it minimizes possible losses to the supplier if the seller is untrustworthy or irresponsible.

If the seller violates the mutual agreement at any time, the security deposit will not be refunded. This model is widely used, especially if the seller is considered to be unreliable for the supplier.

3. Marketing Tools

The third model is a marketing tool, it can be in the form of a replica web. This copy web model gives sellers the right to obtain some form of web copy for sales promotion from the supplier. The web system will monitor whether the seller manages to make a sale.

Which will then be exchanged for a commission. With this system, dealers may be asked to create an account on the supplier's official website or may also be asked to download certain applications.The next model is the stand-alone web model.

This model, as the name suggests, means resellers are given the freedom to manage their own websites to sell them. However, this website is still under the control of the supplier, because then the supplier will give a lot of discounts to the dealers who manage to meet certain sales targets.

4. Wholesale System

Finally, it is a wholesale model. In this model, a seller must first purchase the goods at a certain price. After that, the supplier will provide various benefits and sales opportunities, including membership. 

The advantage of this model is that the dealers can freely sell their products with the various possibilities they get. In addition, dealers have the opportunity to benefit from various bonuses and discounts. Very interesting, yes!

Difference Between Dropship and Reseller

Knowing the difference between reseller and dropship, you know, is essential as a basic knowledge in the online buying and selling business. If you want to start selling later, you can choose the system that best suits your capabilities.

The following is the difference between reseller and dropship in general in the scope of online buying and selling via e-commerce. What is the difference between Reseller and Dropshipper?

Dealers and dropshippers are both businesses that people do by selling goods from suppliers. However, there is a fundamental and important difference between dealership and dropshipping. There are four differences between reseller and dropshipper as follows.

1. In terms of stock of goods

A dealer should usually have a stock of goods for sale. Although some suppliers allow their dealers to not take stock first if no one has placed an order. This is different from dropshippers who don't need to stock goods.

2. Capital

The second difference between reseller and dropshipper lies in the capital. Dealers tend to have start-up capital to sell, as dealers often have to buy goods in stock first. A dropshipper focuses on sales and requires no stock or capital.

3. Marketing

The third difference is in terms of marketing or marketing. Marketing and promotion can be done flexibly by the seller because usually the seller holds the goods directly. Although this does not apply to dropshippers. Dropshipper does not keep stock of products and goods.

In other words, dropshippers can only sell through the marketplace or social media with the promotional materials provided. In terms of marketing though, resellers are often facilitated by more complete promotional media than dropshippers.

4. Shipping

Fourth, there is a difference between reseller and dropship in terms of shipping. In addition to finding consumers, dealers also need to pack and deliver their own goods using reliable scouts until they reach the buyer (if the seller stocks the goods).

The dropshipper system only works on marketing and presenting products to customers. Dropshippers don't have to deal with packaging and shipping goods. Dropshippers only need to send the order details to the supplier, then the supplier ships the product directly to the consumer.

Advantages of Being a Reseller

Do you know what a reseller is? Next, we'll discuss the advantages of being a reseller. It is undeniable that being a dealer has many advantages that you are very sorry to miss. For this, let's take a look at some of the profit points you can get if you become a dealer.

1. No need to leave the house, just use the internet

The first advantage of being a reseller is the flexibility you can feel – time and place of work. You do not need to leave your home to become a dealer, because all work can be completed only with a mobile phone and internet network. Make sure your internet network is adequate and internet quota is available, ok!

2. Required capital tends to be small

The next advantage is that the capital required tends to be small. Generally, resellers will be given special prices or discounts to make them cheaper. Especially if you buy a large amount of goods, the discount also increases. If you don't stock goods, you can even become a seller without any capital.

3. Can Set Competitive Prices

The next advantage is the opportunity to set competitive prices more freely. As a seller of goods from suppliers, you can set your own prices by looking at market competitors around you. The selling price of goods and products is also more competitive and can attract more buyers.

4. Flexible Stock and Sales Arrangement

If you understand the meaning of dealers and dropshipping agents correctly and can distinguish between them, it will be easy for you to manage stock and sales more flexibly. Because if you become a dealer who really understands the information, you can feel this advantage.

5. The products sold are diverse

Another advantage is that you can sell several products at once, provided you have enough free time to list all the products and manage your finances. You can work with many suppliers at the same time to diversify the products sold. Currently, it is possible to sell a wide variety of products with the convenience of technology and internet network.

6. Potentially Earn Additional Commissions

If you become a reseller and find a good partner as a supplier, it is not impossible to potentially get a lot of additional commission from sales. It should be noted that this commission takes various forms. Some are in the form of cash or valuables. Very interesting, yes!

7. Promotions can be adjusted to be more effective

The next advantage is in terms of promotion. As a reseller, you can gain experience to develop your own promotional strategy with the ideas and creativity you have. Sure, with a fun promotion, sales will be effective, right?

8. Sales System Can Be Combined

As mentioned earlier, there are several dealer selling system models you can make. When you become a reseller, you can combine various sales systems with a record of obtaining approval from the supplier.

Advantages of Being a Dropshipper

After learning the advantages of being a reseller, it is also important to know the advantages of being a dropshipper. Profits will also differ, as there are differences between resellers, dropships, and affiliates (commission marketing). If you're in the dropshipper business, here are some benefits:

1. Don't Need Too Much Capital

You can start a dropshipping business with any capital. Because you don't need to stock up. You can only sell with internet and mobile phone quota. But if you want your sales to be bigger, you can pay a small fee to advertise online.

2. Flexible Dropship Location and Working Hours

The next advantage of the dropshipping business is its very flexible location and working hours. You can work wherever you want, whenever you want. The difference between dealership and other office business and dropshipping is what drives many people to become interested in starting an online business, especially during the pandemic.

3. Easy and Efficient Sales System

Dropship sales system is also very easy and efficient because everything can be done using mobile phones and internet. Again, the reason many people want to start this business is the difference between dealership and dropshipping, along with other common businesses. Because anyone without a certain degree or skill can learn this easy dropshipping system.

4. Various Items Sold

Dropshippers can sell many products in various variations at the same time. You can cooperate with many suppliers to diversify your products. Again, you can sell these various products without capital.

5. Can Reduce Overall Costs

When running a business, there will be many challenges and unexpected things that often entail unexpected costs. These costs are called overheads. By working as a dropshipper you will be able to reduce overheads because the dropship system carries very little risk, you don't need to stock up and leave home to go to work.

6. Save More Energy While Dropshipping

The advantage of being the next dropshipper is that it is more energy efficient. This job is perfect for those of you who don't like to work hard. Dropshippers only work in front of a cell phone or laptop screen without leaving the house.

7. Profits Are Attractive

Finally, you should know that the benefits of being a dropshipper are very enticing. In addition to making a profit from the sale of products purchased by consumers, you also have the potential to receive additional bonuses from suppliers.

When you reach consumers who purchase a large number of products. You have the opportunity to take advantage of all the above advantages without spending a lot of energy, with little capital, a flexible working system.

Now you know the difference between reseller and dropship and how they work? Then you can choose the working system that suits you best. Also consider your potential benefits and capabilities as you run the business. You can do some research before getting into the topic.