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Earn money on the Internet - What are the options?

02/05/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Online surveys: many market research institutes pay for participation in their online surveys.

2. Product testing: sometimes you can earn money by testing products and then giving a review or feedback.

3. Affiliate marketing: you can earn money by promoting other products or services through your own websites, blogs or social media channels.

4. Freelancing: There are a variety of freelance jobs one can do online, such as programming, web design, writing, video editing, or data entry.

5. Selling digital products: Again, it is possible to earn income online by selling your own digital products such as e-books, software, music or videos.

6. Online sellers: with platforms such as eBay and Amazon, it is possible to sell products online and thus earn money.

7. Dropshipping: here, too, one can earn money by selling products via platforms such as eBay and Amazon. However, you don't have to store and ship the products yourself.

8. Investing: One can invest in various investment products, stocks or cryptocurrencies and thus earn income online as well.

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Setting up an online store - This is what you need to bear in mind

02/01/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Create a concept:

When creating an online store, it is important to create a concept that includes all the important aspects of the store. This includes the type of store, type of products, target audience, pricing, payment methods, shipping options, customer care and so on. A good concept is the key to the success of the online store.

2. Choose the right platform:

There are various platforms on which you can create an online store. One must consider which platform is best suited to fulfill the desired functions. Often, one can choose between a free platform or a paid platform.

3. Selecting the products:

When selecting the products to be offered in the store, one must consider which products offer the best value for money and what type of products are most in demand. The availability of the products must also be taken into account.

4. Determine the payment options:

It is important to choose the right payment options to ensure that customers can pay for their purchases conveniently and securely. These include credit cards, PayPal, direct debit and others.

5. Determine the shipping options:

Another important aspect is the choice of shipping options. Here, the options need to be carefully weighed to ensure smooth and cost-effective delivery of the products.

6. Customer care:

An essential part of a successful online store is good customer care. This includes answering questions, providing support, and ensuring a satisfactory customer experience.

7. Marketing:

The last important aspect of creating an online store is marketing. This includes SEO optimization, social media marketing, email marketing, ad campaigns, and others.

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Wealth building: How to become a multimillionaire with a SaaS software startup

01/24/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A software startup is a great way to build your wealth. If you make the right decisions, you can become a multimillionaire in a short period of time.

There are some key components that you should consider if you want to start a software startup. First, you need to have an idea that will stand out. Then, you need to develop an effective business model to make money. After that, you need to create a strong brand and develop a product that is unique and distinct.

The next step is to develop a marketing system to reach your market. You need to make sure that your product is unique and valuable. You also need to have an understanding of how to reach your customers and how to retain them.

It is also important to develop a strong funding strategy to make your dream a reality. There are many ways you can fund your business, such as angel investors, bank loans, crowdfunding, or venture capital.

Once your product is on the market, you need to make sure it has a good reputation. You also need to make sure that there is a strong demand for your product. You also need to make sure that you provide good customer service to your customers.

In the long run, you need to develop a system to scale and grow your business. It is important that you build a strong network to strengthen your brand and attract new customers.

It's also important that you steer your business in a profitable direction. You need to remember that profitability is an important factor in running a successful software startup.

One last tip is that you should not give up. It is important that you use your experiences to improve and develop your business. If you work hard and continuously look for improvements, you can build a successful software startup and become a multimillionaire in a short time.

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Achieve more sales with fewer customers - How you can push through higher prices

01/17/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Define your value: before you try to impose higher prices, you need to be clear about what you offer and how you add value to your customers. Think about what you offer that others can't and why customers should choose your service or product.

2. Offer high-value services: If you want to push through a higher price, you need to make sure you are offering high quality services. Make sure you deliver the best quality possible and that your customers get real value for their money.

3. Offer customer service: Good customer service is crucial for many customers. Make sure you deliver quick responses to inquiries and complaints and provide a positive experience for your customers.

4. Build a strong brand: A strong brand will help you push through higher prices. Invest in creating a unique brand that your customers will recognize and trust.

5. Be creative: Think about how you can provide your customers with a value-added experience that not only increases your sales, but also provides real value to them. Be creative and think of new ways to help your customers.

6. Create a pricing strategy: define your pricing strategy and make it clear how you will determine your price and why that price is appropriate. If you can explain to your customers why your product or service is worth a higher price, you will be able to push through higher prices more easily.

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90% aller Gründer scheitern - Wie Sie es vermeiden

01/16/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Plan: Create a realistic business plan that clearly defines your intentions and goals. This plan should also outline your financial needs.

2. Finance: avoid investing more money than necessary in your business. Be realistic about your financial possibilities.

3. Networks: use your contacts and networks to get support and advice from experienced entrepreneurs.

4. Customer needs: find out what your customers want and try to deliver it.

5. Flexibility: be ready to adapt to new trends and technologies to give your business a competitive edge.

6. Marketing: invest in sophisticated marketing to make your company known.

7. Cost Control: Stay on top of your costs and try to keep them as low as possible.

8. Stay Focused: Stay focused and concentrate on achieving your goals.

9. Quality: focus on the quality of your work and products to gain satisfied customers.

10. Continuity: find a balance between change and continuity to make progress.

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