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What do I need to consider before starting a business?

07/10/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Check the market opportunities and do research on your target group.

2. Familiarize yourself with the legal framework of your start-up.

3. Draw up a realistic business plan.

4. Check the financing potential.

5. Inform yourself about legal regulations, taxes and insurances.

6. Determine your personal time and cost requirements.

7. Take advantage of the consulting and support services for founders.

8. Look for suitable employees.

9. Develop an efficient marketing and sales concept.

10. Plan a continuous development of your company.

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What are common sources of failure for female founders?

07/06/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient financial knowledge: Many female founders do not have sufficient financial knowledge to make the right investment decisions.

2. Insufficient network resources: female founders often have less access to information sources, support networks and financing opportunities than male founders.

3. Insufficient market knowledge: Female founders often have less experience dealing with customers and little knowledge of the market in which they offer their products or services.

4. Inadequate work-life balance: female founders often have less time for their families and their own health because they invest more time in their business.

5. Inadequate business management skills: Female founders often have less experience in dealing with employees, budgeting and business management.

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Which reputable rating portals are there?

06/20/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are a number of reputable review portals that specialize in different industries and fields. Here are some examples:

TripAdvisor: TripAdvisor is one of the most well-known and widely used review sites for hotels, restaurants, and attractions.

Trustpilot: Trustpilot is a global online review platform that focuses on businesses and services.

Yelp: Yelp is a review portal for local businesses, including restaurants, bars, stores, and service providers.

Google Reviews.

Google Reviews: Google reviews are a major source of reviews for businesses around the world and are displayed directly on the Google search results page.

Kununu: Kununu is an employer review platform that allows users to rate their working conditions, work environment, and management.

Jameda: Jameda is a German review platform for physicians and other health care providers.

It is important to note, however, that not all review portals are equally trustworthy, and some may contain fake reviews. It is therefore advisable to consult several rating portals and critically examine the reviews before making a final decision.

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What you should know about cold calls and cold calling

06/14/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Cold calls and cold calling are one of the most effective ways for businesses to acquire more customers. Cold calls are a direct phone call between a company and a potential customer. Cold calling is a process in which companies identify potential customers, contact them, and attempt to establish a business relationship.

Cold calls and cold calling are about companies finding a customer who is interested in the services and products. Cold calling involves calling the customer directly, while cold calling can involve multiple approaches, such as emails, social media or sending out brochures.

It is important to prepare before calling or writing. A company should learn about the potential customer's business to get a better understanding of their needs. When calling, the caller should give a brief introduction to their company and services and then address the customer's needs.

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What are common sources of error for freelancers?

06/07/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Inadequate planning and time management: freelancers are often prone to overlooking project and time constraints.

2. Inadequate pricing: Freelancers often underestimate their own value, which can result in them not being paid adequately for their services.

3. Inadequate communication: freelancers are often unable to communicate effectively with clients and other stakeholders, which can lead to misunderstandings and problems.

4. Inadequate documentation: freelancers are often unable to properly document their work, which can lead to poor project organization.

5. Inadequate contracts: Freelancers are often unable to sign clear and specific contracts, which can lead to legal difficulties.

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