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How to recognise fake providers on the internet

10/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Digitalisation has fundamentally changed shopping and the service provider landscape. While the internet offers a wealth of opportunities, it also poses risks in the form of fake providers targeting unsuspecting consumers. In this article, you will learn how to spot fake providers and protect yourself from fraudulent schemes.

1. Check the website address (URL):

The URL of a website can already provide the first clues to its legitimacy. Look out for spelling mistakes or unusual deviations from known domain names. Fake providers often use slightly altered or similar domain names to cause confusion.

2. Research the provider:

Use search engines to find information about the provider. Reputable companies usually have an online presence and are listed in business directories or on social media. If any online trace is missing or there is little information, you should be cautious.

3. Check contact information:

A reliable contact information is a must. Check the contact details provided, such as phone number and address. Missing or incomplete contact information is an alarm signal.

4. Look for customer ratings and reviews:

Search for independent customer ratings and reviews of the provider. Platforms such as Google Reviews, Trustpilot or Yelp can offer helpful insights. However, be sceptical here too, as fake reviews can go both ways.

5. Pay attention to payment methods:

Serious providers often offer established and trustworthy payment methods. Be wary if you are offered only unusual or untraceable payment options.

6. Distrust unrealistic offers:

If an offer seems too good to be true, it may be just that. Fake sellers often lure you in with extremely low prices or unrealistic promises. Remain sceptical and research thoroughly before engaging with such offers.

7. Pay attention to grammar and writing style:

Look out for spelling mistakes and unusual wording on the website or in emails. Serious companies value professional communication.

8. Use secure connections:

When you shop online, make sure the website uses a secure connection. You can tell by "https://" in the URL and a lock icon in the browser address bar.

Conclusion: Caution is the key

The internet offers many advantages, but also some risks. To protect yourself from fake providers, caution and thorough research is crucial. If something seems too good to be true, it often is not. Trust your instincts and use the tips above to spot fake sellers and protect yourself from potential scams. Your wealth and security are at stake, so be vigilant.

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What are the most pressing problems faced by founders?

10/23/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Founders often face a variety of challenges that can vary by industry, business model and location. However, here are some of the most pressing issues that founders often face:

Missing capital: Funding is often one of the biggest hurdles for founders. It can be difficult to raise enough capital to launch the business and sustain it through the early stages before it becomes profitable.

Market Validation: It is critical to ensure that there is demand for the product or service the business is offering. Validating the market and identifying potential customers are important steps to ensure that the business can succeed.

Team Building: Assembling a competent and dedicated team can be a challenge. Finding the right team that shares the founder's vision and brings the necessary skills to move the business forward is critical.

Competition: in most industries, there are already established competitors. Founders need to find a way to stand out from the competition and create a unique offering to attract customers.

Scaling: After a business is launched, the question of scaling arises. How can the business grow without compromising quality and overstretching resources?

Legal and regulatory challenges: Founders must deal with legal and regulatory requirements that can vary by industry and location. This can range from business formation to intellectual property protection to regulatory compliance.

Marketing and Customer Acquisition: Attracting customers is often a major challenge, especially in an increasingly competitive business environment. Effective marketing strategies and sales channels are essential to drive growth.

Time Management: Founders often wear many hats and have numerous responsibilities. Effectively managing one's time and priorities is critical to avoid getting into undue stress.

Lack of experience: many founders operate in areas where they may not have extensive experience, such as accounting, law, human resources management, etc. Overcoming the lack of experience in key business areas can be challenging.

Insecurity and Risk: A founder's journey is often one of uncertainty and risk. There is no guarantee of success, and the ability to manage uncertainty and take risks is critical.

These challenges can vary depending on individual circumstances, but they are some of the most common issues founders face. Thorough planning, flexible approaches and a willingness to learn from mistakes can help overcome these challenges.

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What is consumer journalism?

10/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Consumer journalism is a form of journalism that focuses on providing consumers with information, advice and analysis to help them make purchasing decisions and protect their interests as consumers. This type of journalism aims to bring transparency to the marketplace, educate consumers about products, services and companies, and highlight potential risks and benefits. Here are some important features and aspects of consumer journalism:

Product reviews: Consumer journalists often conduct product tests and reviews to examine the quality, performance and reliability of products and services. These reviews can be published in magazines, newspapers, online media and on TV channels.

Product reviews: Consumer journalists often conduct product tests and reviews to check the quality, performance and reliability of products and services.

Advice: Consumer journalism offers advice and recommendations on topics such as shopping, finance, health, food, travel, technology and more. This can include tips on budgeting, saving, choosing insurance or avoiding scams.

Revelations: Consumer journalists can uncover and report on corporate malpractice, deception or fraudulent practices. This can help protect consumers from harmful products or services.

Consumer rights: Consumer journalism can raise awareness of consumer rights and laws and inform readers on how they can claim their rights.

Industry developments: Journalists in this section report on developments in various industries that may have an impact on consumers. These include changes in legislation, price fluctuations, trends and innovations.

Scandals and recalls: When product scandals or recalls occur, consumer journalism informs the public about the background and impact of such events.

Consumer protection: Consumer journalism promotes the protection of consumers' interests and encourages responsible consumer behaviour.

Online platforms: Consumer journalism has also had a strong presence on online platforms and social media in recent years. Consumers can access advice and information on websites, blogs and social networks.

Consumer journalism plays an important role in balancing the information asymmetry between businesses and consumers and helping consumers make informed choices. It contributes to the promotion of consumer rights and the protection of consumer interests by providing an independent and critical perspective on the market.

Consumer journalism plays an important role in balancing information asymmetry between business and consumers and helping consumers make informed choices.

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How to recognise fake websites? Tips for online safety

10/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The internet has become an indispensable part of our lives, but it also poses risks in the form of fake websites that aim to deceive us and steal our personal data. To protect yourself from fraudulent websites, it is important to develop the ability to recognise them. In this article, we will give you some important tips on how to identify fake websites.

1. Check the URL carefully

The URL (web address) of a website is often an indication of its authenticity. Make sure the URL is spelled correctly and does not contain any unusual characters or letter combinations. Fraudsters often use slightly altered URLs to mimic genuine websites.

2. Check the security certificates (SSL)

Real websites, especially those that collect sensitive information, use SSL certificates to establish a secure connection between your browser and the server. Look for the "https://" at the beginning of the URL and the lock icon in your browser's address bar. Click on the lock icon to view information about the certificate and make sure it is valid.

3. Pay attention to the design and quality of the website

Fraudulent websites can often look poorly designed and unprofessional. Look out for spelling mistakes, grammar problems and inconsistent graphics. Reputable companies invest in the design and quality of their websites, while fake websites often focus on speed and cheap looks

4. Check contact information

Serious companies provide clear contact information on their websites. Check that there is a physical address, a phone number and a working email address. Missing or hard-to-find contact information can be a red flag.

5. Use search engines

If you have doubts about a website, use search engines to look for reviews or experiences of other users. Often, people have already posted warnings when they have encountered fraudulent websites.

6. Beware of unexpected emails or links

Do not open links or attachments in emails that you are not expecting or that come from unknown senders. These can lead to fake websites or spread malware

7. Watch out for unusual requests

Be wary of websites that ask for excessive amounts of personal information or financial details. Reputable businesses usually only require the most necessary information.

8. Use security software

Use anti-virus and anti-malware software to protect your computer and data from malware. These programmes can also warn you about dangerous websites

The ability to spot fake websites is crucial to online safety. By following these tips and always being vigilant, you can better protect yourself from internet scams and surf the digital space more safely.

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What is corporate planning?

10/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Corporate planning is a strategic process in which a company plans its goals, resources and activities to ensure long-term success. It includes a systematic assessment of the company's current situation, setting goals and developing strategies and plans to achieve these goals. Here are some of the main aspects of business planning:

Goal setting: Corporate planning begins with setting clear and measurable goals. These goals can be financial in nature, such as sales or profit targets, or non-financial in nature, such as increasing customer satisfaction or introducing new products.

Analysis of the current situation: Companies need to analyze their current situation, including their strengths, weaknesses, opportunities and threats (SWOT analysis). This helps set realistic goals and develop strategies that build on the company's current position.

Strategy development: Based on the analysis, the company develops strategies to achieve its goals. This may include introducing new products, expanding into new markets, cost-cutting measures or other strategic initiatives.

Operational Planning: Operational planning focuses on implementing strategic goals and plans at the business activity level. This includes allocating resources, setting budgets, determining responsibilities and schedules, and developing performance indicators to monitor progress.

Budgeting: An important part of business planning is the creation of a budget that determines the company's financial resources for planned activities and expenses. The budget serves as a guide for financial control and monitoring.

Control and monitoring: After implementing plans, it is crucial to monitor progress and ensure goals are met. When deviations occur, adjustments can be made to respond to changes in the business environment.

Long-term perspective: Business planning usually covers a long time horizon, often spanning several years. It enables the company to develop long-term visions and strategies to ensure sustainable growth and success.

Business planning is a dynamic process that is regularly reviewed and adjusted to respond to changes in the business environment and within the company itself. It plays a crucial role in aligning all company activities towards defined goals and in ensuring the long-term competitiveness and profitability of a company.

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