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The Dunning Kruger Effect and the German Coaching Scene - And what the Greater Fool Theory has to do with it

12/04/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The Dunning Kruger Effect is a psychological phenomenon that states that people who have little knowledge in a particular subject tend to be overconfident about their abilities in that area. The effect was named after psychologist David Dunning and psychologist Justin Kruger, who conducted a study on the subject in 1999.

The Dunning Kruger Effect may be an important concept when it comes to the German coaching scene. Many coaches are not aware of their skills and competence and may have exaggerated self-assessments. This can lead to coaching results that are not fully achieved and clients that are not fully satisfied.

Another concept that is relevant in relation to the Dunning-Kruger effect and the German coaching scene is the Greater Fool theory. This theory states that people who do not have the necessary knowledge to evaluate a decision are easily manipulated by others who tell them that a certain decision is wise. This can lead to wrong decisions that are not in the best interest of the coachee. Therefore, it is important that coaches have the necessary knowledge to make the right decisions.

In terms of the German coaching scene, it can be said that the Dunning-Kruger effect and the Greater Fool theory can have a serious impact on the quality of coaching results. Coaches who do not have sufficient knowledge can easily make the wrong decisions, which can lead to poor results for coachees. Therefore, it is important for coaches to have sufficient knowledge to achieve quality coaching results.

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What is online coaching?

11/03/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Online coaching is a form of face-to-face coaching or mentoring where communication and interaction between coach and client takes place via the internet. This type of coaching uses digital technologies such as video calls, phone calls, emails, chat messages or online platforms to facilitate coaching sessions and information exchange between coach and client. Here are some important features and aspects of online coaching:

Flexibility and accessibility: Online coaching offers a high degree of flexibility as coach and client do not need to be in the same physical location. This allows people to find a coach regardless of their location or time zone.

Various coaching formats: Online coaching can be offered in different formats, including video coaching sessions, phone coaching, email coaching or chat coaching. The choice of format often depends on the preferences and needs of the client.

Various coaching areas: Online coaching is offered in a wide range of areas, including life coaching, career coaching, health coaching, personal development, leadership development, and more.

Written communication: email and chat coaching allow clients and coaches to communicate with each other in writing. This can be particularly useful for expressing and recording thoughts and feelings.

Privacy and confidentiality: Online coaching platforms and services often place a strong emphasis on privacy and confidentiality to ensure that personal information and conversations are protected.

Time management: Online coaching allows clients to fit coaching sessions into their schedule without taking up additional travel time or waiting.

Global reach: Both coaches and clients can collaborate from around the world, providing the opportunity to access a wide range of expertise and experience.

Results orientation: The main goal of online coaching is usually personal development and the achievement of specific goals or changes in the client's life. Coaches work closely with their clients to define and achieve those goals.

Online coaching can be offered to individuals as well as groups. It has become a popular form of coaching in recent years due to its flexibility and effectiveness. However, it is important to choose a qualified and trustworthy coach in order to best reap the benefits of online coaching.

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The Dark Side of Online Coaching: Why Fake Business Gurus Are a Problem

10/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Online coaching has created the opportunity for people from all over the world to learn and work from home. However, as in any industry, there are black sheep in online coaching: fake business gurus who promise to make people rich and successful, but in reality are only out for their own financial interest.

What are fake business gurus?

Fake business gurus are people who claim to be experts in certain business fields and share their knowledge and experience with others. They pretend to help people take their careers and businesses to the next level, but in reality they often have no experience or success in the areas they claim to be experts in.

Why are fake business gurus a problem?

Fake business gurus are a problem for several reasons:

They deceive people: Fake business gurus deceive people by making them false promises and creating unrealistic expectations. They promise that they can make people rich and successful if they just buy their services. In reality, the promises are often empty and the results unattainable.

They are greedy for money: fake business gurus are often only out for their own financial interest. They sell expensive courses and coaching services that often don't deliver what they promise.

They harm the online coaching industry: Fake business gurus harm the online coaching industry as a whole by undermining people's trust in reputable online coaches and courses. People who have had bad experiences with fake business gurus are often suspicious of other online coaches and services.

How do I recognize a fake business guru?

It can be difficult to distinguish a fake business guru from a reputable online coach. However, here are some signs to look out for:

Promises of quick wealth: if someone claims they can bring you wealth and success in a matter of weeks or months, you should be skeptical. Success and wealth require hard work and time.

Lack of experience or success: If someone claims to be an expert in a particular business area, but has no experience or success in that area, you should be wary.

Overpriced courses or coaching services: If someone is selling overpriced courses or coaching services, you should consider whether the price is reasonable and whether it is worth investing the money.

Conclusion

Fake business gurus are a problem in the online coaching industry because they deceive people, are money hungry, and damage the reputation of the industry. It is important for people who want to use online coaching services to be attentive and discerning in order to avoid fake business gurus and instead find reputable and experienced online coaches. When you're looking for an online coach, look for signs of respectability, such as references, recommendations, transparent pricing, and a clear description of services. By carefully checking who you are putting your money and trust in, you can ensure that you are benefiting from an experienced and qualified online coach and not falling for a fake business guru.

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Online coaching: How you can work successfully online as a coach

07/25/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Digitalization has led to more and more people working and learning online. Online coaching is one of the opportunities that digitalization has created. As an online coach, you have the opportunity to work with people from all over the world and help them achieve their goals. Here are some reasons why online coaching is so popular:

Flexibility

Online coaching offers flexibility for both the coach and the client. As a coach, you have the ability to work from anywhere in the world as long as you have a stable internet connection. Clients have the option to work from home or from a location of their choice.

Accessibility

Online coaching has become more accessible to people who have not had the opportunity to work with a coach in person due to distance or other reasons. Digitization has created the opportunity for anyone with an internet connection to find and work with a coach.

Cost savings

Online coaching is often more cost-effective than in-person coaching. Since the coach does not have the cost of a physical office or travel to clients, they can offer their services at a lower price.

How do I build a successful online coaching practice?

A successful online coaching practice requires hard work, patience, and a smart strategy. Here are some steps you can take to build your online coaching practice:

Define your niche and target audience: think about the type of coaching you want to offer and who your target audience is. The more specific your niche and target audience are, the easier it will be to reach and connect with them.

Create an engaging online presence: a strong online presence is essential to getting noticed as an online coach. Create a website or blog, use social media to spread your message, and offer valuable content that will appeal to potential clients.

Offer free trial sessions: Offer potential clients a free trial session to convince them that you are the right coach for them. Use this opportunity to demonstrate your skills and build a relationship with your potential clients.

Use online marketing tools: Use online marketing tools such as Facebook Ads, Google Adwords or email marketing to increase your reach and attract more potential clients.

Be professional: As an online coach, it's important to appear professional. Offer a clear coaching process, stick to deadlines, and provide a professional coaching experience to keep your clients happy.

Conclusion

Online coaching is a growing industry that has evolved with digitalization. As an online coach, you have the opportunity to work from anywhere in the world and help people achieve their goals. However, it takes hard work, patience, and a smart strategy to build a successful online coaching practice. By defining your niche and target audience, creating an engaging online presence, offering free trial sessions, using online marketing tools, and presenting yourself professionally, you can build a successful online coaching practice. Use the power of digitalization to succeed as an online coach.

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Hourly rates and daily rates of freelancers and freelancers 2023 - You have to reckon with that

03/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS
As the client, you must take into account the hourly and daily rates customary in the market for freelancers. Here are some factors to consider:

Area of ​​expertise: The hourly rates and daily rates vary depending on the area in which the freelancer works. In some areas, such as software development, the fees tend to be higher than in other areas such as copywriting or translation.

Experience: An experienced freelancer will usually charge higher fees than a newcomer to their field.

Location: Fees can also vary based on the location of the freelancer. Fees tend to be higher in metropolitan areas or more expensive cities than in rural areas.

Responsibilities: The more complex and demanding the tasks are, the higher the fees will be.

Duration of the project: For long-term projects, the hourly rates and daily rates can usually be negotiated.

It is important that you as the client not only look at the price, but also consider the quality and experience of the freelancer. You should also make sure that the freelancer's fee is reasonable and that their work on your project is fairly remunerated.

The amount of hourly and daily rates for freelancers and freelancers can vary greatly and depends on various factors such as specialty, experience, location and scope of work. Here are some examples of average hourly rates and daily rates in different industries in Germany:

IT / software development: Hourly rate from €80 to €150 and daily rate from €600 to €1200

Design / graphic design: Hourly rate from €50 to €120 and daily rate from €400 to €800

Text creation / translation: Hourly rate from €30 to €80 and daily rate from €250 to €600

Marketing / PR: Hourly rate from €60 to €120 and daily rate from €450 to €900

Consulting / coaching: Hourly rate from €80 to €150 and daily rate from €600 to €1200

However, it is important to note that these numbers are intended as a guide only and actual hourly and daily rates may vary based on individual factors and projects. It's also possible that some freelancers charge lower or higher rates than these averages.

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