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What is a communication partner?

09/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A communication partner is a person, organisation or entity with whom a communication or exchange of information takes place. In any form of communication, there are at least two parties: the sender and the receiver. The sender is the person or party who transmits information, messages or news, while the receiver is the person or party who receives and interprets that information.

A communication partner can occur in a variety of contexts, including:

Human communication: In everyday life, communication partners are often people who speak, write or otherwise exchange information with each other. This can occur in face-to-face conversations, business negotiations, written communication via email or social media.

Organisations: Businesses, governments, non-profit organisations and other institutions can also be communication partners. They communicate with their customers, employees, stakeholders and the public to disseminate information, build relationships and achieve their goals.

Technological systems: In technology, communication partners can also be computer-based systems or devices that exchange information with each other. This can be the case, for example, in network communication systems, internet protocols or IoT (Internet of Things) applications.

Technology systems: In technology, communication partners can be computer-based systems or devices that exchange information with each other.

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How do you find skilled workers these days?

08/04/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Searching for professionals these days can be challenging, but there are several ways to find potential candidates. Here are some common methods:

Online job postings: Post your job openings on job portals, career websites or social media. Many professionals are actively looking for jobs online.

Professional networks: use platforms like LinkedIn to actively search for and connect with professionals. LinkedIn offers specific features for recruiting.

Recruiters.

Recruitment agencies: work with recruitment agencies that specialize in recruiting professionals. These agencies often have access to a pool of qualified candidates.

Recruiters.

Employee referrals: Ask your current employees to recommend potential professionals from their network. Employees often know qualified individuals who are looking for new opportunities.

Current employees often know qualified individuals who are looking for new opportunities.

Career fairs and job fairs: Attend industry events to connect directly with potential candidates. Trade shows provide an opportunity to introduce yourself in person and answer questions.

Universities and colleges: partner with educational institutions to find graduates or students with the skills you need. Internship and apprenticeship programs can also be a way to identify potential professionals early on.

Social media: Use platforms such as LinkedIn, Facebook or Twitter to share your job openings and reach out to potential applicants. Social media groups and forums that focus on your industry or specific areas of expertise can also be useful.

Social Media.

Company website: Make sure your company website has current job openings and information on how to apply. Many professionals specifically search for career opportunities on company websites.

Make sure your company website contains current job openings and information on how to apply.

It can also be helpful to build an attractive employer image to attract professionals. This includes aspects such as competitive salaries, good working conditions, development opportunities, and a positive working environment.

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What should be considered when starting a business?

06/21/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There is a lot to consider when starting a business. Here are some important points:

Business idea and market research:

A good business idea and a thorough market analysis are the first steps to starting a successful business. It is important to ensure that there is a demand for your product or service and that you have a meaningful strategy to differentiate yourself from the competition.

Business Plan: A well-thought-out business plan is essential to attracting investors, obtaining loans, and keeping your business strategy on track. A business plan should include a summary of your business idea, market analysis, finances, marketing and sales strategies, and your goals and plans for the future.

Business Plan.

Legal Form: The choice of legal form in which you start your business will affect your liability, tax obligations and other legal matters. There are several options, including sole proprietorships, partnerships, limited liability companies, or corporations.

Finances.

Finance: Solid financing is critical to the success of your business. You need to carefully calculate how much start-up capital you will need, what your ongoing costs will be, and how you can make your business profitable. You should also develop an accounting and tax strategy.

Permits and licenses: Depending on your business and legal form, you may need permits and licenses to operate legally. These can vary widely by location and industry, so it's important to do your research in advance.

Permits and Licenses.

Personnel: If you are looking to hire employees, you will need to learn about labor laws, social security, insurance, and other legal issues. You should also develop an application process and create clear job descriptions and employment contracts.

Personnel.

Marketing and sales: to attract customers and make your company known, you need a strong marketing and sales strategy. Here you should consider which target group you want to address, which channels are best suited for this and how you can stand out from the competition.

Marketing and Sales: To attract customers and make your company known, you need a strong marketing and sales strategy.

There are many more aspects to consider when starting a business, but these seven points should give you a good overview. It's important to do your research thoroughly and, if necessary, seek professional help from tax advisors, lawyers or business consultants to maximize your chances of success.

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Company headquarters Rostock - What are the advantages and disadvantages?

06/08/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Rostock offers some advantages and disadvantages as a company headquarters. Here are some of them:

Advantages:

Good infrastructure:

Rostock has a good transport infrastructure with a port, an airport and well-developed road and rail links. This facilitates the transportation of goods and access to international markets.

Scientific and educational institutions: Rostock is home to a renowned university and other educational institutions. This provides access to well-educated professionals and facilitates collaboration with the academic world.

Educational facilities: Rostock is home to a renowned university and other educational institutions.

Quality of life: The city of Rostock offers a high quality of life with an attractive coastal location, historic architecture and a diverse cultural offering. This can help attract and retain qualified employees.

Lower cost of living: Compared to larger cities in Germany such as Berlin or Hamburg, the cost of living in Rostock is generally lower. This can be an advantage for companies, especially when choosing a location or housing employees.

Disadvantages:

Regional dependence:

Graphically, Rostock is somewhat removed from the major economic centers in Germany. This may mean that it is more difficult to reach business partners or customers outside the region. There could also be challenges in obtaining certain resources or services.

Limited market: Rostock has a comparatively smaller market size compared to large metropolitan areas. This could mean that companies may have limited opportunities for growth and expansion, or may need to focus on niche markets.

Skilled labor shortage: Although Rostock has educational institutions, it may still be difficult to attract highly skilled professionals in certain industries. Companies may need to make greater efforts to attract and retain qualified employees over the long term.

Limited industry diversity: Rostock is best known for its maritime, tourism, and food industries. Other industries may have more limited opportunities to locate in Rostock and benefit from synergies with similar businesses.

It is important to note that the advantages and disadvantages of Rostock as a company location may vary depending on the industry, company size and individual needs. It is advisable to conduct a comprehensive location analysis and consider the specific requirements of one's own company before making a decision.

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How can I reach more customers with less advertising budget?

05/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several ways to reach more customers with a limited advertising budget. Here are some tips:

Focus on your target audience: carefully analyzing your target audience can help you use your budget more effectively. Make sure your ads are targeted to your audience by considering demographic and geographic characteristics, interests, behaviors, and other relevant factors.

Use targeted advertising: targeted advertising can help ensure that your ads are displayed to the people who are most likely to become your customers. Use targeted ad formats, such as Facebook Ads or Google Ads, to tailor your ads to your target audience.

Optimize your ads: Optimize your ads by using powerful headlines, clear call-to-actions, and engaging images. Avoid redundant or confusing information to convince potential customers to click on your ad.

Use social media marketing: social media platforms are a great way to promote your business and reach your target audience. There are numerous ways to use social media platforms such as Facebook, Twitter, Instagram, and LinkedIn to promote your business and reach your target audience.

Use influencer marketing: influencer marketing can help get your brand noticed by a larger audience by partnering with influencers or people who are well-known in your industry. Make sure you choose an influencer who connects with your brand and your target audience.

Go for long-term strategies: long-term marketing strategies, such as search engine optimization (SEO), can help your business rank higher in search engine results in the long run, reaching more potential customers.

By using these measures, you can target your audience more effectively with a limited advertising budget and thus reach more customers.

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