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Starting a business: THIS mistake can ruin you

01/05/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are many different mistakes that can be made when starting a business. One of the most serious mistakes is neglecting financial management. If you are not able to manage cash flow, pay the bills, and track revenue, it can lead to financial problems that can ruin your existence. Therefore, it is important to have a financial system in place to effectively manage your business.

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Why you shouldn't start your own agency in 2023 - And what you can do instead

12/30/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

2023 is a difficult year to start an agency. Although there are many opportunities, the challenges are too great to try. The economy is tight, and many businesses are struggling to increase revenue. It can be difficult to attract new clients and maintain a steady income. Instead, you can get involved in the industry in other ways, such as:

1. Take online continuing education courses. By learning about the latest developments in the industry, you can build your skills and prepare for a career as an agency owner.

2. Build a network. Network with other professionals in the industry to share their experiences and ideas.

3. Get an internship. Internships are a great way to get direct exposure to an agency's work and get a feel for the industry.

4. Write a blog. This will allow you to share your expertise and ideas and expand your network.

5. Join a professional organization. This will help you make contacts in the industry and expand knowledge of the industry.

By engaging in these methods, you can develop your skills and prepare yourself to start an agency. Once you have made a name for yourself in the industry, it will be easier to start your own agency.

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Content is King - How to generate more sales and revenue as a B2B company

12/27/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Create a content strategy: A content strategy helps you create and distribute the right content for your B2B company. Define your target audience to create the right content that is relevant to your audience.

2. Focus on high-quality content: Make sure your content is relevant and valuable to your target audience. Create content that will persuade your target audience and make them want to buy your products or services.

3. Use social media: Use social media to spread your content and drive more sales. Post quality content regularly on your social media channels and use ads to increase your reach.

4. Optimize your website: make sure your website is optimized for search engines to generate more traffic. Use SEO optimized content and make sure your website loads quickly.

5. Use email marketing: email marketing is one of the most effective ways to generate more sales and revenue as a B2B company. Create newsletters and publish them regularly. Offer exclusive content and discounts to your subscribers to generate more sales.

6. Collaborate with influencers: One of the most effective ways to generate more sales is to work with influencers. Pick influencers who reach your target audience and offer them a partnership. This will give you more visibility and help you generate more sales.

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The 80/20 Rule - The Pareto Principle as a Lever Tool for Every Successful Entrepreneur

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The 80/20 rule, also known as the Pareto principle, is an important tool for any successful entrepreneur. It states that 80% of the result is achieved by 20% of the effort. In other words: By focusing on the 20% of activities that produce the most result, you can get the most benefit from your efforts.

The Pareto Principle can be applied to many areas of entrepreneurship. For example, you can use it to figure out which advertising tools work best. By measuring results and figuring out which advertising mediums deliver the best results, one can focus on those that provide the most benefit.

You can also use it to figure out how to best use your time. By focusing on the tasks that provide the most benefit, you can make your time more efficient and productive.

The Pareto Principle can also be used to figure out which clients get the greatest results. By analyzing the data and figuring out which customers bring in the most revenue, you can focus on those that bring in the most value.

The Pareto Principle is a useful tool to help business owners maximize results and make their efforts more efficient. By focusing on the 20% of activities that bring the most value, you can maximize results and make your business more successful.

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Is a live support chat worthwhile for online stores, agencies and service providers?

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Many live chat software providers talk about the fact that implementing a live chat will multiply the number of contacts from potential customers. But is this really the case?

Yes, a live support chat is a very effective way to support customers quickly and efficiently. With a live support chat, online stores, agencies, and service providers can offer instant support to their customers at any time of the day or night. This allows them to respond to queries quickly and build better customer loyalty. It can also help generate more revenue by supporting customers faster and more efficiently.

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