Firstly, what is a location independent entrepreneur? It is a business person who is not dependent on staying in the same place to run their business. Usually, this is because their business is wholly or almost wholly online. They have consulted a professional digital agency like Slinky to get advice on web design and SEO and their website designer has set up their website so that they can do business wherever they happen to find themselves, so long as there is an internet connection.
Even if they offer services such as bookkeeping or business consulting of some kind, they don’t have to be in their country of origin to do the work. They can offer advice via email and do accounting or any number of other things wherever they happen to be. This would seem to be the ideal way to make a living while in Bali.
Because your business is not actually a Balinese one but was set up before you even came to Bali, you avoid all the rules and regulations, not to mention costs and delays of setting up a business in Bali. And none of your clients will even know that you are not at home or in an office in some capital city while you are conducting business with them.
Even someone who does freelance writing or photography for a living could do just that from Bali, using all the job boards available online to get their work from, or using the internet for contacts for their work. The internet is like just one big city in space for many people. Of course, if your computer broke down you might find it difficult to have it repaired in a place like Bali where new parts for anything have to be imported, so that could pose a problem if you stayed there for any length of time.
That said, the visa covers something like two months, so you would have to leave at the end of that time anyway, even if you intended to go back as soon as possible. The thing is, you would not have to stay in one place in Bali, so could move around the island exploring all the different areas whenever you felt like it.
With no bricks and mortar business to tend to you would have a lot more freedom to do what you liked at a time to suit you. Of course, your clients would need to be able to contact you whenever they needed to and you would have to be a reliable supplier of whatever kind of work you offered, but other than that there would be a great deal of freedom in your life. Such a life would be attractive to many people. All you need are the kind of skills that can be offered online.