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News / Blog: #risks

Acquisition and marketing for founders and people interested in founding a company

01/26/2024 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Acquisition and marketing are important factors when starting a new business. The goal is to get as many customers as possible and acquire new customers to establish and grow the business.

Choosing the right acquisition and marketing is a challenge. It is important to find the right balance between investment and returns and to develop a plan to achieve the desired result.

It's also important for founders and those interested in starting a business to educate themselves on the various options available. These include search engine optimization, social media marketing, content marketing, email marketing, direct marketing, affiliate marketing and more.

It is important that founders and those interested in starting a business develop a strategy that is tailored to their business and audience in order to achieve the most effective results. They also need to develop a plan to measure results so they know if they are on the right track or if they need to change their strategy.

Another important aspect is that founders and startup prospects use the right tools to track and manage their acquisition and marketing campaigns. These tools can help measure success and understand where to make improvements.

In conclusion, it is important that founders and startup prospects have a clear understanding of how to fund their acquisition and marketing campaigns. They need to know how much they can spend on campaigns, what their options are, and what risks they need to take. This is a fundamental step in realizing the full potential of their business.

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What are the biggest mistakes when starting a business?

12/07/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient market research: Insufficient market research is one of the most common mistakes made when starting a business. It is important to know if there is a market demand for the product or service you want to offer before investing a lot of time and money in the startup.

2. Insufficient financial knowledge: Financial knowledge is crucial when starting a business. You need to know about financial planning, budgeting, taxes and accounting to run your business successfully.

3. Inadequate planning: Good planning is the key to success. It is important to create a business plan that includes your goals, strategies and finances.

4. Inadequate risk management: one of the most important tasks in starting a business is risk management. It is important to be aware of the potential risks associated with your business and take appropriate steps to minimize those risks.

5. Insufficient leadership skills: As a founder, you need to be able to lead, motivate and inspire a team. It is important that you have the right skills and experience to successfully run your business.

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Opportunity costs - Why founding a company and taking the step into self-employment is really (financially) worthwhile in the rarest of cases

12/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Starting your own business can be a very rewarding move, but rarely is it the most profitable move you can make as an entrepreneur. There are a few factors to consider when deciding whether an entrepreneur should start his or her own career or business.

One important factor is that one must weigh the costs and risks of starting one's own business against the costs and risks one would face in an employed position. These include the costs of starting a business, the costs of running the business and operating the business in general, as well as the risks one takes as an entrepreneur, such as the risks of market failure.

In addition, the opportunities one has as an entrepreneur are not necessarily better than those one has as an employee. If you want to succeed as an entrepreneur, you have to invest a lot of energy and time into starting and running your business, which means you have less time to do other things and you may get paid less than you would in a salaried position.

Ultimately, starting your own business is a decision that each entrepreneur must make for themselves. It is important to make the decision in light of the opportunity costs and potential rewards and risks. When deciding to start a business, it is important to have the opportunity to run your business successfully and to realize that you may have to invest more money and time than you expect.

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What advice should founders consider

11/29/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Develop a solid business plan. A business plan is an important foundation for your success because it contains a clear strategy for your business. It should include your goals, your products or services, and your funding strategy.

2. Be prepared to take risks. As a founder, you must realize that there are risks, but you must be willing to take those risks to move your business forward.

3. Follow simple rules. Founders should follow some basic rules, such as maintaining a good budget and a solid cash balance, maintaining a good credit score, striving for good brand awareness, and regularly reviewing their progress.

4. Be willing to evolve. Successful founders are constantly learning and adapting their businesses to changing market conditions. They must take time to acquire new knowledge and continue to develop to make their business successful.

5. Be prepared to make decisions. Founders need to make decisions quickly because of the speed of the market sometimes. They need to be able to react to changes and make quick decisions to move their business forward.

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The basics of media & press relations (public relations)

11/20/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Basic knowledge

2. What is media and press relations?

3. What are the different types of media and press relations?

4. What are the goals of media and press relations?

5. How can the goals be achieved?

6. What tools and techniques are used?

7. What are the risks associated with media and press relations?

8.. How to create a strategy?

9. How to create a media and press relations strategy?

10. What goals are realistic?

11. How to reach the right audience?

12. What media channels does one use?

13. How to measure the results?

14. How to create a press package?

15. What is a press kit?

16. How do you create a press kit?

17. What content should be included?

18. How to send it to the right media representatives?

19. How to communicate with the press?

20. How to make a first contact?

21. How to build a relationship with journalists?

22. How to communicate your story?

23. How to convince the press?

24. How to write press releases?

25. What is a press release?

26. How do you write a press release?

27. What content must be included?

28. How to send the press release?

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