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Success measurement & -documentation of a press release - from when it really makes sense

09/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Measuring and documenting the success of a press release only makes sense if you have sufficient time and capacity to carry out a systematic and sound analysis. This means that you need to conduct appropriate monitoring and measurement of the press release and record the results before you can evaluate it as successful.

There are some basic steps you need to take to measure and document the success of a press release. First, you need to create a press release plan to determine how and when you will send out the press release. You will also need to define a set of objectives, such as which audience you want to target and what result you want to achieve.

Once the plan is set, you can combine the press release with a campaign to reinforce the release. You will also need to set up a system for recording the contacts. This can be done through CRM software or another contact management system.

You then need to measure and document the success of the press release. This can be done through a number of methods, such as collecting and analyzing data generated by the press release or the number of new contacts generated by the press release.

After you have completed measuring and documenting the success of the press release, you can compare and evaluate the results and draw conclusions. This will help you better plan and manage future press releases.

As a general rule, you should not begin measuring and documenting the success of a press release until you have received a reasonable volume of data a few weeks after the release. This gives you enough time to perform a sound analysis.

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Hourly rates in management consulting

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

Hourly rates in management consulting can vary widely depending on experience, area of expertise, industry, location, company size and type of consulting services. Management consulting encompasses a wide range of services, from strategy consulting to process optimization to organizational development. Here are rough benchmarks for hourly rates in management consulting in different regions:

Europe:

Entry or junior consultants: 80 € - 150 € per hour

Experienced consultants: 150 € - 250 € per hour

Senior consultants or subject matter experts: €250 and more per hour

USA:

Emerging or junior consultants: $100 - $200 per hour

Experienced consultants: $200 - $350 per hour

Senior consultants or subject matter experts: $350 and up per hour

These estimates are general and may vary depending on the specific area of expertise (e.g., management, finance, IT), the reputation of the consulting firm, the type of service, and the complexity of the project.

Since management consulting is diverse, it is important to research current market data and rates in your region and industry. Setting hourly rates should be based on a thorough analysis of market trends, your own experience and expertise, and the value you can add to clients. Also consider the competition and the target customers' willingness to pay.

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What role do Agile methods play in project management today?

08/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Agile methods are a significant practice in project management today.

Agile methodologies are a set of approaches aimed at promoting flexibility, collaboration, continuous improvement and rapid delivery of products and services. Agile is based on the principles of the "Agile Manifesto" which focuses on the following values:

Individuals and interactions are more important than processes and tools. Working software is more important than comprehensive documentation. Cooperation with the customer is more important than contract negotiations. Responding to change is more important than following a plan. Agile methods encourage projects to be broken down into short, iterative development cycles (sprints) where priorities are regularly reviewed and teams can respond quickly to changes. A prominent example of an agile framework is Scrum, where the project is broken up into sprints of 1 to 4 weeks, and there are short daily meetings (daily stand-ups) to discuss progress and remove roadblocks.

Agile methods have gained importance in many industries and companies in recent years. They offer some advantages like:

Better adaptability to changing requirements and circumstances. Early and continuous delivery of workable products or services. Improved transparency and communication between team members and the customer. Continuous improvement and adjustment based on customer feedback and experiences. It can be expected that Agile methodologies will continue to play an important role in project management as they have proven to be powerful and effective in tackling complex and dynamic challenges. However, you should always consult current sources to keep up to date with the latest developments, as business practices and technology may be constantly evolving.

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What are common sources of failure for female founders?

07/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient financial knowledge: Many female founders do not have sufficient financial knowledge to make the right investment decisions.

2. Insufficient network resources: female founders often have less access to information sources, support networks and financing opportunities than male founders.

3. Insufficient market knowledge: Female founders often have less experience dealing with customers and little knowledge of the market in which they offer their products or services.

4. Inadequate work-life balance: female founders often have less time for their families and their own health because they invest more time in their business.

5. Inadequate business management skills: Female founders often have less experience in dealing with employees, budgeting and business management.

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Which reputable rating portals are there?

06/20/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are a number of reputable review portals that specialize in different industries and fields. Here are some examples:

TripAdvisor: TripAdvisor is one of the most well-known and widely used review sites for hotels, restaurants, and attractions.

Trustpilot: Trustpilot is a global online review platform that focuses on businesses and services.

Yelp: Yelp is a review portal for local businesses, including restaurants, bars, stores, and service providers.

Google Reviews.

Google Reviews: Google reviews are a major source of reviews for businesses around the world and are displayed directly on the Google search results page.

Kununu: Kununu is an employer review platform that allows users to rate their working conditions, work environment, and management.

Jameda: Jameda is a German review platform for physicians and other health care providers.

It is important to note, however, that not all review portals are equally trustworthy, and some may contain fake reviews. It is therefore advisable to consult several rating portals and critically examine the reviews before making a final decision.

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