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What does a founder earn?

08/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A founder's salary can vary widely depending on a number of factors, including the type of business, the success of the business, the industry, the funding, the size of the business, the location, and the founder's individual decision-making process. Here are some aspects that should be considered:

Early stages: In the early stages of a startup, founders often take a minimal or no salary, as the priority is to build the business and secure capital.

Funding: If the startup is successful in obtaining capital from investors or venture capital firms, founders may more often take a salary to support themselves.

Ownership stake: Founders often retain a significant stake in the company and can benefit from increasing company success through the value of their equity.

Company size: Depending on how the company grows, founders may later be able to earn competitive salaries closer to those of executives at established companies.

Industry Differences: Founder salaries vary widely by industry. In some industries, such as technology and biotechnology, founders can command higher salaries due to the high growth potential and capital investment.

It is important to note that many founders forgo a higher salary in the early years to help grow their business. They may be considering the long-term value of their business and the opportunity to benefit from a potential exit event.

Founders' salaries are highly individualized and can vary widely. Some founders prefer to invest the company's financial resources in growth, while others are able to earn competitive salaries at later stages of the business.

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How important is the regular review and adjustment of the PR strategy?

08/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Regularly reviewing and adjusting PR strategy is extremely important to ensure the success of a PR campaign. Here are some reasons why this matters:

Changing target audiences: Target audiences can change over time, whether due to demographic shifts, new trends or technological advances. It's important to regularly review your target audience and adjust your PR strategy accordingly to ensure messages and channels remain relevant.

Dynamic media environment: the media landscape is constantly changing, especially with the rapid development of digital media. New platforms, social media trends and communication channels are continuously emerging. It's important to adapt your PR strategy to reflect these changes and keep your communications with the media up to date.

Measure success and ROI: A regular review of the PR strategy makes it possible to measure the success of PR activities and evaluate the return on investment (ROI). By analyzing the effectiveness of various activities, it is possible to find out what is working and what is not. Based on this, adjustments can be made to increase the effectiveness of the PR campaign.

Adjustment to current events: The PR strategy should also be able to respond to current events and trends. Companies and organizations need to be able to be flexible and adjust their messages and actions accordingly to meet changing conditions.

Competitive Analysis:A regular review of PR strategy also allows companies to keep an eye on the competition. By analyzing competitors' PR activities, you can gain insight and ensure that your strategy remains competitive.

Competitive Analysis.

In summary, regularly reviewing and adjusting PR strategy is critical to ensuring that PR efforts are having the desired effect. By remaining flexible, responding to change and continually measuring success, you can maintain an effective and efficient PR campaign.

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What does an agency general manager earn?

08/30/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The salary of an agency general manager can vary widely depending on the type of agency, size, location, industry, experience, area of responsibility and individual factors. Agency general managers manage and direct the operations of agencies that provide services such as marketing, advertising, PR, design, digital marketing and more. Here are rough benchmarks for agency general manager salaries in different regions:

Europe:

Smaller agencies: €50,000 - €100,000 per year

Medium-sized agencies: €100,000 - €200,000 per year

Larger agencies or renowned agencies: 200,000 € and more per year

USA:

Smaller agencies: $60,000 - $120,000 per year

Medium-sized agencies: $120,000 - $250,000 per year

Larger agencies or prestigious agencies: $250,000 and above per year

These estimates are general guidelines and may vary depending on agency size, service offerings, reputation, financial results, and leadership responsibilities.

Agency general managers often have a high level of responsibility for the agency's business success, client satisfaction, and managing teams. Therefore, salary also reflects the expanded responsibilities and pressures that come with the position.

To get accurate and up-to-date information about agency general manager salaries in your region and industry, it's a good idea to consult trusted salary surveys, job portals or professional associations.

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Professional press release writing step by step

08/30/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A well-written press release is an effective tool to present your company, event or news to the public. It enables you to spread your message in a targeted manner and to attract the interest of media representatives and the target audience. In this article, we will show you step by step how to write a professional press release that attracts attention and successfully spreads your information.

Step 1: Define target group and objectives

Before you start writing, it is important to be clear about your target audience and your objectives. Who do you want to read the press release, and what information do you want to convey? Identify your core message and determine what response you expect from readers.

Step 2: Determine structure

A well-structured press release is easier to read and understand. Use the classic format of stating the most important information first. The structure includes the following sections:

Headline: A concise and meaningful headline that piques interest and contains the key message.

Introduction: A short introductory paragraph that answers the W questions (Who, What, When, Where, Why). Body: Detailed information, facts, and background. Present the main points first and then move on to more details.

Quote: include a powerful quote from a representative of your organization to add a personal touch to the message.

Conclusion: summarize the key points and include contact information for follow-up questions.

Step 3: Use understandable language

Avoid jargon and complicated terms that are difficult for the general public to understand. Write clearly, concisely and simply to ensure your message is well conveyed.

Step 4: Emphasize newsworthiness

Make sure your press release actually has news or relevant news value. Journalists receive many releases every day, and your writing needs to be interesting enough to get noticed.

Step 5: Prove the facts

Your press release should be well-researched and include facts and statistical data to convey credibility. Back up your statements with reliable sources to gain readers' trust.

Step 6: Keep it short

Keep your press release short and concise. Ideally, do not exceed one page. Long text can be off-putting and dilute the main message.

Step 7: Provide contact information

At the end of the press release, provide contact information for someone from your organization who can be reached for questions. This can be a spokesperson or someone responsible for the topic at hand.

Step 8: Proofread

Before sending the press release, carefully check it for spelling errors, grammar and coherence. An error-free text shows professionalism and care.

Step 9: Distribution and follow-up

Send your press release to relevant media outlets and publishing platforms. Follow up on the release and be ready for possible follow-up questions or interviews.

By following these steps, you can create a professional press release that appeals to your target audience and attracts the attention you want. A well-thought-out and compelling release can go a long way toward successfully spreading your message and raising awareness of your company or event.

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What to consider as an IT freelancer? Tips for success on freelancer platforms and in dealing with IT intermediaries.

08/30/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In today's digital world, numerous opportunities open up for IT freelancers to work flexibly and independently. Freelancer platforms and IT intermediaries play an important role in this by bringing clients and freelancers together. However, there are some important aspects to consider in order to be successful as an IT freelancer. In this article, we take a look at the key points to consider.

1. Profile design and self-promotion:

Whether you use a freelance platform or get referred through an IT intermediary, having a strong profile is crucial. Make sure your profile highlights your skills, experience and previous projects. Remember that potential clients will use your profile to decide if you are right for their project.

2. Specialize and find niches:

There are a variety of specialties in the IT industry. The more specific you position your skills and knowledge, the more likely you are to find interesting projects. Focusing on a niche can also help you stand out from the competition and get better paying jobs.

3. Realistic prices and fair negotiations:

Determine a reasonable hourly rate or flat rate for your services. Be prepared to adjust your prices depending on the nature of the project and the scope of your work. In negotiations with clients or intermediaries, be confident in your values and skills, but also be flexible and fair.

4. Client reviews and references:

Collect positive reviews from satisfied clients on freelancer platforms. Good reviews are essential for gaining the trust of new potential clients. References from previous projects can also strengthen your credibility and increase your chances of success.

5. Transparent communication:

Clear and effective communication is essential to avoid misunderstandings and complete projects successfully. Clarify all important details at the beginning, such as the scope of the project, schedule, payment terms, and scope of delivery.

6. Contracts and legalities:

Make sure you have a clear and legally backed contract for each project. This should cover all agreements, disclaimers, and intellectual property rights. A solid contract protects both you and the client.

7. Time management and reliability:

As a freelancer, you have the responsibility to complete your projects on time. Therefore, good time management is essential. Show reliability and deliver on your commitments to build your reputation as a trustworthy professional.

8. Network and maintain contacts:

Maintain your professional network and make contacts in the IT industry. Even if you work through a platform or an intermediary, personal referrals and relationships can lead to new and lucrative projects.

9. Continuous education:

The IT industry is dynamic and subject to constant change. Keep your skills up to date by continuously educating yourself and following new technologies and trends. This will make you more attractive to clients and increase your marketability.

Conclusion:

As an IT freelancer, there are many aspects to consider in order to be successful. From self-promotion to transparent communication to a clear contract system, all of these factors will help advance your career. Take advantage of freelancer platforms and IT intermediaries to reach out to potential clients, but don't forget to actively work on your own network as well. With the right mix of expertise, self-promotion and customer focus, you can achieve long-term success as an IT freelancer.

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