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It is always a risk to start your own agency. It is not only a financial investment, but also an investment in time and energy. If you don't have the necessary experience and skills, or if your budget is limited, it might be difficult to start a successful agency.
Instead, you might consider purchasing a franchise or taking over an existing agency. Both options have their advantages and disadvantages. A franchise can give you a proven business model and a strong brand, but it may also require a large investment. If you take over an existing agency, you already get a client base and some experience, but it can also be difficult to align the agency with your vision.
However, if you want to start your own agency, there are some steps you can take to increase your chances of success. First, you should learn about the business and create a good strategy. Then, you should familiarize yourself with the relevant laws and regulations. You should also familiarize yourself with marketing and advertising so that you can effectively promote your business and attract customers. Finally, you should network and exchange ideas with other entrepreneurs to benefit from their experiences.
Whether you start your own agency or take over an existing one, you will need to invest a lot of time, energy and commitment to succeed. Therefore, you should think carefully about whether starting your own agency is really right for you.
A "solopreneur" is a person who starts and runs his or her own business, usually alone, without a partner or employees. The term is made up of the words "solo" (alone) and "entrepreneur" (business owner). Solopreneurs are usually responsible for all aspects of their business, including product development, customer support, accounting, and marketing.
Solopreneurs can work in a variety of industries, from freelance writers and graphic designers to consultants and online marketers. They are often characterized by their independence and self-reliance. Since they usually do not have employees, they have full control over their business decisions and workflow.
It's important to note that the term "solopreneur" does not necessarily mean that the person is running their business solo. They may still use service providers, freelancers or outside resources to complete certain tasks or support projects. The main difference is that the solopreneur usually has primary responsibility for the business and does not have a permanent staff.
Solopreneurs often rely on their skills, expertise, and ability to self-promote to be successful, as they are usually the main driver of their business.
The GEM country report Germany 2021 presents pleasing results regarding start-up activities in 2021 and their connection to the COVID-19 pandemic. The start-up rate, measured by the total early-stage entrepreneurial activity (TEA), has increased significantly compared to the previous year. This could be due to a positive response from business and the adaptability of those looking to start a business during the pandemic.
Start-up rate at the second highest level since 1999
The TEA rate, which represents the proportion of 18-64 year olds in Germany who have founded a company or are in the process of founding one, reached the second highest value in 2021 since the survey began in 1999 – 6.9%. This represents an increase of 2.1 percentage points compared to the previous year (4.8%). This increase suggests that, despite the ongoing uncertainties due to the pandemic, the willingness to start a business has increased in Germany.
Pandemic as driver for new business opportunities
Interestingly, more than a third of the TEA founders surveyed appear to indicate that the COVID-19 pandemic has opened up new business opportunities. This makes it clear that in the midst of the crisis, entrepreneurial opportunities can also arise that lead to new start-ups. In 2020, that proportion was even lower (a quarter of TEA startups were based on pandemic-related opportunities).
More focus on digital sales channels
Although around 76% of TEA founders in Germany have set up their sales channels digitally, the report shows that there is still room for further progress in the field of digitalization. In particular, cooperation between established companies and young, up-and-coming start-ups could lead to a win-win situation. Digital sales platforms and the customers of established companies could offer young companies faster market access.
Gender differences in start-up activity
An interesting aspect highlighted in the report concerns gender disparities in start-up activity. This shows that the gender gap, i.e. the difference between the start-up activities of men and women, was reduced during the COVID-19 pandemic. This applies above all to the prospective founders (nascent entrepreneurs), whose proportion is equalizing. The results indicate that women are more likely to intend to start a business, but are less likely to put them into practice than men.
Measures to promote start-ups by women
The report proposes various measures to further reduce the gender gap and to promote the start-up activities of women. This includes the expansion of childcare options, the promotion of women in business and STEM subjects and the presence of successful female founders as role models. Access to venture capital for female founders could also be improved, especially in the technology-oriented area.
Conclusion: increase in start-up activities despite the pandemic
The GEM country report Germany 2021 shows that the start-up rate in Germany increased in 2021 despite the ongoing COVID-19 pandemic. This could be due to an increased adaptability of the entrepreneurs, the identification of new entrepreneurial opportunities and the positive reaction of the economic policy. Gender differences in start-up activity have also narrowed during the pandemic, indicating increased support for start-ups by women. In order to further support this trend, targeted measures could be taken to strengthen the framework conditions for women in the start-up world.
In today's world, it's more important than ever to position yourself as a brand. Especially for people who are in the public eye, such as artists, influencers or entrepreneurs, it is of great importance to build a strong personal brand. Here are some reasons why person brands are so important:
Differentiate yourself from competitors
A strong person brand helps you stand out from your competitors. There are many people who have similar talents or skills as you. When you build a strong person brand, you can ensure that you stand out from the competition and attract potential customers or fans to you.
Build trust
A strong persona brand can help build trust with your customers or fans. By positioning yourself as a brand, you can clearly communicate your values and beliefs, which will help you connect with your target audience. People buy from people they like and trust.
Add value
A strong personal brand can help increase your value. When you're known as a brand, you increase your chances of being noticed by the public, which can lead to more customers or fans. A strong personal brand can also help you charge higher prices for your services or products.
Career opportunities
A strong person brand can also help you create or expand career opportunities. When you are known as a brand, you increase your chances of being discovered and approached by companies or other influencers. A strong person brand can also help you be seen as an expert in your field.
How do I build a strong personal brand?
Building a strong person brand takes time, patience and hard work. Here are some steps you can take to build your person brand:
Define your goals and values: Think about what goals you want to achieve and what values are important to you. This information should be clearly communicated in your brand.
Create an engaging online presence: A strong online presence is essential to be perceived as a brand. Create a website or blog and use social media to spread your message.
Be authentic: A strong personal brand is based on authenticity. Be honest and open with your customers or fans and stick to your values and beliefs.
Build a community: A strong persona brand requires a loyal fan base. Use social media and other platforms to build a community and connect with your customers or fans.
Provide value: A strong personal brand provides value to its customers or fans. Think about how you can add value to your target audience through your services, products or content. Conclusion
A strong person brand can be of great importance to many people, especially those who are in the public eye. A well-built persona brand can help you stand out from the competition, build trust with customers or fans, and increase value. If you want to build a strong persona brand, you should define your goals and values, create an engaging online presence, be authentic, build a community, and provide value. With hard work, patience and a smart strategy, you can build a successful personal brand.
Business optimism among self-employed and small business owners deteriorated for the third straight month in June 2023, the latest Jimdo Ifo Index shows. The results of this monthly survey leave no room for doubt: sentiment in the sector has continued to deteriorate, which should prompt a call for government action.
According to Katrin Demmelhuber, an expert at the Ifo Institute, the business climate among the self-employed deteriorated worryingly in June. This was characterized by two main factors: On the one hand, the respondents assessed the current situation increasingly negatively compared to the previous months. On the other hand, expectations regarding future business development were even more pessimistic than they had been in the current year. This deterioration follows a period of recovery that began after the energy crisis bottomed out in October 2022. Hopes that the fall in April was only temporary were finally dashed. The negative trend continued in May and is now continuing.
The Jimdo Ifo Index shows that the business climate for the self-employed fell a further 4.0 points in June and is now at minus 12.6 points. In the economy as a whole, the value has fallen even more significantly, namely by 5.5 points, and is now minus 6.6 points. Demmelhuber notes that the indicators for climate and expectations in the overall economy have also fallen significantly. However, the business situation in this sector was still rated as favourable.
One alarming aspect is the declining mood among the solo self-employed and micro-entrepreneurs. In June they rated their business situation clearly negative for the first time this year. The corresponding value is minus 2.6 points, compared to minus 0.4 points in the previous month. This is in sharp contrast to the overall economy, which is still in positive territory at 13.5 but down 2.5 points from May's 16.0.
A possible reason for this development could be the slowly decreasing inflation, which leads to a decreasing pressure on prices. Price expectations have been falling for months. Among the self-employed, 15.6 percent of respondents say they are considering price increases, compared to 16.3 percent for the economy as a whole. In spring 2022, these values still reached peak values of 61.4 (overall economy) and 54.7 (self-employed).
It is important to view the ongoing negative sentiment in the context of the declining number of founders and the self-employed. The number of start-ups in Germany has fallen by two-thirds since 2002, and the proportion of self-employed people in the workforce has fallen by more than 30 percent since 2012. Andreas Lutz, Chairman of the Association of Founders and Self-Employed Germany (VGSD), comments on this development and emphasizes the need for measures on the part of the federal government to reverse this trend. Lutz calls for the establishment of contact persons in parties and ministries who are specifically dedicated to the concerns of the solo self-employed and who can build up the necessary expertise to make well-founded decisions.