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What is a competitive edge

06/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A competitive edge is an advantage a company has over its competitors that enables it to be successful in a particular market or industry. Such a lead can be based on various factors, such as:

Uniqueness: A company may offer a product or service that is unique and cannot be duplicated by its competitors.

Cost Leadership: A company can offer its products or services at a lower price than its competitors, which allows it to gain larger market share.

Technology: A company may have more advanced technologies than its competitors, allowing it to work faster, more efficiently and create more innovative products.

Reputation: A company can have a good reputation in the industry, which makes it easier for them to attract new customers and retain existing customers.

Know-how: A company may have specialized knowledge or skills that enable it to offer unique products or services that cannot be replicated by its competitors.

A competitive advantage is usually an important factor in a company's long-term success, as it helps it to secure its market position and increase its profitability.

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Why should you found a company in Rostock?

06/26/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

There are several reasons why you should incorporate in Rostock. Here are some possible advantages:

Good infrastructure: Rostock has a well-developed infrastructure, including a modern port, an airport and a well-connected road and rail network. This facilitates the transportation of goods and provides good access to national and international markets.

University and research institutions: The University of Rostock and other research institutions offer access to qualified specialists, innovative ideas and research cooperation. If your start-up is based on research and development, you can benefit from cooperation with these institutions.

Economic diversity: Rostock has a broad economic base with various industries such as shipbuilding, maritime business, tourism, information technology, biotechnology and food industry. This creates a diversified business environment and offers opportunities for different types of companies.

Attractive place to live: Rostock is an attractive city to live and work in. The city offers a high quality of life with a wide range of cultural activities, a beautiful old town, beaches and lots of greenery. This can help attract qualified professionals and retain employees in the long term.

Funding programs and support: There are various funding programs and support services for business start-ups in Rostock and the region. This can include financial support, consulting services and networking opportunities that can help you start and grow your business.

Of course, when making a start-up decision, you should also consider individual factors such as the industry in which you want to operate, the target group, the availability of skilled workers and potential competitors. A careful market analysis and location assessment are therefore important in order to make the best decision for your specific start-up situation.

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What are the most common objections in B2B sales conversations?

06/22/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

In B2B (business-to-business), the most common objections from potential customers can vary by industry and product or service. However, here are some of the generally most common objections that can arise in B2B sales:

Price: Price is often a big objection, especially if the offering is perceived to be more expensive than expected.

Need: If the potential customer doesn't feel that they really need the product or service, or that it doesn't meet their current needs, they may object.

Time: Sometimes it is just not the right time for the potential customer to accept the offer, possibly due to restructuring, budget issues, or other priorities.

Risk: If the potential customer has concerns about reliability, quality, or customer support, they may object.

Competition: If the potential customer is already working with another vendor or has received quotes from other vendors, they may object to the offer.

Decision making: In many organizations, decisions must be made by multiple people, and it can be difficult to get all the decision makers around the table.

It is important to understand and address the potential customer's objections in order to move the sales process forward. By answering questions and offering solutions, you may be able to address concerns and convince the customer to accept your offer.

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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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How to Get Media Attention - A Guide

06/19/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

For companies and organizations, media attention can be an important factor for success. If you want to present yourself as an expert in your field or want your company to be in the spotlight, the right media presence can help to increase your awareness and promote your business.

But how do you get into the media? Here are some steps that can help you get media attention:

Identify your target media

Before you begin, you should consider what media works best for you. It's important to research your target media to find out what type of content they publish and who their target audience is. Identify the media that best suits your business and make sure you have the contact information for the relevant editors or journalists.

Develop a message

A clear and compelling message is key to attracting media attention. Before engaging with the media, you should make sure you have a clear and memorable message. Think about what makes your business unique and why the media might be interested.

Write a press release

A press release is an important way to get your message across to the media. A well-written press release should get your message across clearly and concisely, and contain all the relevant information a journalist needs to cover it. Make sure your press release is well structured and includes all important information in the first few paragraphs.

Send your press release

Once your press release is created, you should send it to your target media. Make sure you send your press release to the right contacts and that you send a personalized email with a short introductory text highlighting the key points. Also, do not send out your press release too often, as this could attract negative attention from the media.

Offer expertise

Another way to get media attention is to offer your expertise. If you are an expert in your field, you can offer your expertise to the media and serve as a source for future stories. Make sure you state your expertise clearly and concisely and that you provide clear contact information for media representatives.

Use social media

Social media is another way to get media attention. Use your social media to spread your message and showcase your expertise. Use relevant hashtags and mention media companies

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