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What are the biggest mistakes when selling a business?

08/01/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient preparation: sellers who do not invest sufficient time and effort in researching and preparing for the sale of the business are prone to making mistakes.

2. Unclear price expectations: If the seller doesn't have a clear idea of how much they want to get for their business, it can be difficult to get a realistic price.

3. Lack of expertise: A seller who does not have the expertise needed may not be able to ask the right questions to close a successful deal.

4. Insufficient documentation: a seller who does not provide all relevant documents and records may have a hard time closing a deal.

5. Lack of communication with investors: If a seller is unable to communicate convincingly to investors or answer important questions, it can slow down the sales process.

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How do I become successful as an agency?

07/31/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Provide professional service: Professional service is the key to make agencies successful. Make sure your clients receive a smooth and efficient service that meets their needs.

2. Build a network: Building a network is an important step to being successful as an agency. Connect with other agencies, clients and experts to increase your brand awareness and discover new business opportunities.

3. Use social media: social media is an effective tool to market your brand and attract new clients. Use the various social media platforms to provide information about your services and make new connections.

4. Develop a clear strategy: a clear strategy will help you achieve your goals. Define exactly what you want to accomplish and put a plan in place to achieve your goals.

5. Be creative: Creativity is the key to stand out from the competition. Be creative in developing campaigns and ideas to attract new customers and strengthen your brand.

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The importance of influencer marketing for your business

07/19/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Influencer marketing has become one of the most important online marketing strategies in recent years. It involves getting people with a large following on social media platforms to promote products or services. But why is influencer marketing so important for your business? Here are some reasons:

Trust and credibility

Influencers have built a strong connection with their followers and are often considered experts in a particular field. By working with an influencer, your business can gain the trust and credibility of your target audience. An influencer's recommendation can play a big role in convincing potential customers to try your product or service.

Reach and visibility

Influencers often have a large number of followers on various social media platforms. By working with an influencer, your business can leverage that reach to gain more visibility. Publishing posts about your business can lead to increased traffic to your website and more exposure for your business.

Target your audience

Influencers often have a specific audience that they target. By working with an influencer, you can ensure that your product or service is targeted to the right audience. By doing so, you increase the likelihood of reaching potential customers who are interested in your product or service.

Creativity and innovation

Influencers are often very creative and have a good sense of what works with their followers. By working with an influencer, you can benefit from that creativity and innovation. An influencer can help your business come up with new ideas for marketing campaigns and products.

Conclusion

Influencer marketing can be a very effective online marketing strategy to promote your business. By working with an influencer, you can gain trust and credibility, increase reach and visibility, target your audience, and benefit from the influencer's creativity and innovation. Before you decide to work with an influencer, however, make sure the influencer is a good fit for your business and your values.

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07/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The shortage of skilled workers in information technology (IT) has been a serious problem for companies around the world for years. The demand for highly qualified IT professionals is enormous, while the supply of suitable applicants is scarce. But there are solutions to counteract this problem and find the perfect employees for your company.

One way to address the IT skills shortage is to recruit talented and qualified candidates abroad. Due to globalization and the digital age, finding and hiring international talent is easier today than ever before. With the right resources and tools, companies can search candidate profiles and identify candidates with the skills and qualifications they need.

Another effective solution is to increase collaboration with educational institutions. By building close relationships with universities, colleges and technical schools, companies can establish early contact with promising young talent. Internships, mentoring programs, and scholarships are all ways to attract young talent and get them excited about a career in IT.

In addition to recruiting from abroad and working with educational institutions, companies should also invest in the training and development of their existing employees. Targeted training and education can help employees expand their skills and adapt to new technologies and trends. This not only helps to alleviate the shortage of skilled workers, but also strengthens employee loyalty to the company and increases employee satisfaction.

In addition, companies should use innovative ways to reach out to potential applicants. This includes using online job boards, social networks and professional networks such as LinkedIn. Creating an attractive employer brand and highlighting the benefits and development opportunities your company offers are important factors in attracting qualified IT professionals.

Another approach is to work with third-party recruitment agencies that specialize in the IT industry. These agencies often have access to a broad network of IT professionals and can assist in identifying and selecting qualified candidates. By taking over the entire recruitment process, companies save time and resources.

Overall, addressing the IT skills shortage requires a comprehensive and holistic approach. Companies must proactively search for talent, develop their workforce and explore new ways to recruit. By combining these measures, companies can find their dream applicants and strengthen their IT team with highly skilled professionals.

The skills shortage in IT is undoubtedly a challenge, but there are ways to overcome it and find your dream applicants. One strategy that has proven successful is creating attractive working conditions and incentives for potential applicants.

Flexible working hours, the option of a home office, attractive salaries and benefits such as continuing education opportunities or company pension plans are just some of the factors that can attract professionals to the IT industry. A pleasant working environment, a good work-life balance and the opportunity to work on interesting and challenging projects are also important aspects that applicants take into account.

Another way to find your dream applicant is to be actively present at networking events and professional conferences. There, you can meet potential applicants in person, make contacts and promote your company. In addition, you can be active in the IT community by participating in open source projects, publishing professional articles or participating in discussion forums. This will increase your visibility and attract talented professionals.

Collaborating with IT experts and recruiters can also be helpful. These professionals have extensive industry knowledge and a wide network of IT professionals. By working with them, you can make your search for qualified candidates more focused and effective.

In addition to sourcing candidates externally, companies should also strengthen their internal talent management. Identify promising talent within your own company and encourage their further development. Through targeted training and promotion opportunities, you can encourage your employees to develop their skills and commit to your company for the long term.

Another option is to work with educational institutions to develop the next generation of skilled workers. Through internships, dual study programs or cooperation with universities, companies can establish contact with promising IT talent at an early stage and retain them in the long term.

Not least, companies should review their own corporate culture and values. A positive corporate culture that promotes innovation, creativity and teamwork can help attract and retain talented IT professionals over the long term.

The IT skills shortage is a challenge that companies should not ignore. However, through a combination of targeted recruitment strategies, attractive working conditions, internal talent management and an active presence in the IT community, you can find your dream applicants and strengthen your company with highly skilled IT professionals.


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Starting up: How to earn the starting capital?

07/05/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are many ways to earn seed money. Here are some ideas:

Saving: One way to earn startup capital is to save money. If you save a certain budget each month and deposit it into a separate bank or savings account, you can slowly but steadily build up capital.

Investing: Another way to earn startup capital is to invest in stocks, bonds or mutual funds. However, it is important to note that investing carries risks and you should be well-informed and seek advice from a financial expert if needed.

Crowdfunding: Crowdfunding platforms such as Kickstarter or Indiegogo can be a way to raise seed money for an idea or project. However, it's important to note that crowdfunding is a competition for the attention of potential investors.

Loans: You can also apply for a bank loan or line of credit to get the startup capital you need. However, keep in mind that you will have to pay interest and you usually need a good credit score to do so.

Equity financing: If you already own a business, you can also consider equity financing by selling shares to investors.

Sideline job: Finally, you can also take a side job to earn extra money and save it for your startup capital.

It is important to note that there is no guarantee that any of these options will lead to success. It takes hard work, commitment, and thorough planning to earn the startup capital you need.

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