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Freelancing - What are the pros & cons?

06/16/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Freelancing, or working on your own as a freelancer, has both advantages and disadvantages. Here are some of the most important ones:

Advantages:

Flexibility: as a freelancer, you have the freedom to determine your own working hours and location. You can adapt your work to your personal needs and priorities.

Independence: You are your own boss and have full control over your work. You can make your own decisions and don't have to compromise.

Potentially higher income: As a freelancer, you have the opportunity to charge higher hourly rates or project fees than you would in a traditional salaried position.

Varied work: as a freelancer, you have the opportunity to work with a variety of clients and projects, which provides variety and challenge.

Disadvantages:

No guaranteed income: As a freelancer, there are no fixed income guarantees. You may have to go without assignments and income for some time.

Self-employment means working alone: As a freelancer, you often work alone, without colleagues or supervisors, which can affect social interaction and motivation.

Administrative tasks: As a freelancer, you will have to take care of administrative tasks yourself, such as invoicing, accounting, and taxes.

Uncertainty: As a freelancer, there is always the risk that orders and projects will fall away or that demand will change, which can mean uncertainty and financial instability.

So overall, there are many pros and cons to freelancing. It depends on personal preferences, skills and goals whether this type of work is a good choice.

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Wondering why Google Ads aren't working for you?

06/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

Google Ads usually works well, but there are a few reasons why it might not work for you. First, it could be that you have poor keyword targeting. It's important that you research carefully and choose the right keywords for your market. Poorly designed ads can also cause your campaign to be unsuccessful. You need to make sure that your ads are visually appealing and convey a clear message. If you're not sure how to design your ad, you can consult a professional ad designer. It could also be that your campaign is not up to date, as Google is constantly adding new features. It's important to regularly review and update your campaign to keep it effective and successful.

Typical problems are high click-through prices, low traffic and high total cost of ownership or low conversion rate.

difficult targeting

high competition

A/B testing

Optimization of ad campaigns

Smart campaigns vs. advanced settings

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What are the biggest mistakes as a salesperson?

06/13/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Waste too much time on non-profitable activities.

2. Not working to build quality relationships with customers.

3. Spending too much time selling new business and not enough time building on existing business.

4. Not spending enough time on lead generation activities.

5. Not knowing how to make successful sales calls.

6. Not spending enough time acquiring market knowledge.

7. Not trying to identify and focus on a target group.

8. Not trying to learn new sales techniques.

9. Not having a clear strategy for pricing.

10. Not being able to solve a problem if it is one.

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What is a no-go in customer acquisition?

06/09/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A "no-go" in customer acquisition refers to an action or approach that is considered totally unacceptable or unprofessional and turns off potential customers. Here are some examples of no-go's in customer acquisition:

Inappropriate behavior: Any form of rude, pushy or aggressive behavior towards potential customers is an absolute no-go. Clients want to be treated respectfully, and any kind of pushing or coaxing is likely to discourage them from working with you.

Lack of research: if you don't have basic information about the potential client and don't know what their needs are or what solutions they are looking for, it comes across as unprofessional and disinterested. Customers appreciate it when you find out in advance and target their individual needs.

Untargeted mass advertising: sending mass emails or spam messages to a large number of potential customers without any personalization is an absolute no-go. It shows that you are not taking a personalized approach and have no real interest in the customer's specific situation.

Missing transparency: if you conceal or deliberately manipulate information or promises to lure customers, trust will be destroyed. Customers value honesty and transparency, and if they feel they are being deceived, they will be unwilling to work with you.

Missing transparency will destroy trust.

Ignoring feedback: customers may raise questions or concerns during the acquisition process. If you ignore them or don't take them seriously, it sends a negative signal. It's important to act on customer feedback, answer questions and address concerns seriously to build a positive customer relationship.

Failing to follow up: If you don't follow up with potential customers after the initial contact or respond to them in a timely manner, it gives the impression that you are disinterested or don't take them seriously. Consistent follow-up is critical to keeping customers interested and resolving their questions or concerns.

These no-gos should be avoided to ensure successful customer acquisition. Instead, focus on a professional, respectful, and customized approach to earn customers' trust and build long-term relationships.

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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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