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Maximize the probability of startup success (instead of failing like 90%) with the KISS method and an MVP.

12/20/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The KISS method (Keep It Simple and Smart) aims to make complex ideas as simple as possible. By focusing on the essentials, founders and entrepreneurs can establish their product or service on the market more quickly.

To maximize the likelihood of startup success, it is recommended to develop a Minimum Viable Product (MVP). This is a small, simple product that contains the core features of the idea but is much easier to develop compared to the final product. It helps founders quickly develop a product that can be tested and validated without the cost and effort of a full-fledged product.

In addition, founders can also try to create a "proof of concept" to test the demand for their product or service. Through such a proof of concept, founders can find out if their idea will work and how it can compete in the marketplace.

These strategies can help maximize the likelihood of startup success by reducing product complexity and testing demand. If founders use these strategies, they can significantly increase their chances of success instead of failing like 90%.

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Launching Your Own Partner Program - What to keep in Mind

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Define clear goals: Before you start your affiliate program, you first need to think about what you want to achieve with your program. Goals can be, for example, the expansion of the customer base, the increase in sales or the generation of more traffic.

2. Develop an attractive affiliate program: in order for your affiliates to decide to join your program, you need to make them an attractive offer. Consider creating your own brand to promote the program or offer a special commission for successful sales.

3. Select the appropriate partners: To make the program successful, you need to choose the right partners. This depends on your business model, target audience and brand. It is important that the partners fit your business and image.

4. Offer support: To help your partners work together smoothly, you should offer support in the form of promotional materials, training or technical assistance.

5. Measure the results: To find out if your affiliate program is successful, you need to measure the results. Be as detailed as possible to find out which affiliates are the most successful and where improvements can be made.

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How to build passive income with ebooks & digital products

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Start creating digital products. You can create your own digital products such as eBooks, videos, audio files, software programs, or online courses.

2. Market your products online. You can promote your digital products on your own website, social media, other websites, and online stores. Don't forget to promote and advertise your product.

3. Create an email marketing program. If you are able to build a list of email subscribers, you can market your products regularly.

4. Create affiliate links. You can work with other businesses to create affiliate links that point to your products. When someone buys through your link, you get a commission.

5. Expand your product range. Once you have successfully marketed a few products, you can create more digital products like eBooks or online courses to increase your income.

6. Do cross-promotions. You can also help other businesses market their products and receive a fee for doing so.

7. Invest in advertising. Invest in online advertising to make more people aware of your products.

8. Build a brand. Publish quality content regularly and build a community to strengthen your brand.

9. Stick to your goal. Set goals and work hard to achieve them. Be consistent and keep your eye on your goal to earn a regular passive income.

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How to Build an Optimize a Sales Funnel

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A sales funnel is a process that takes customers through a series of steps from initial contact to purchase. It is important to optimize the sales funnel to maximize purchases.

1. Define your target audience: first, you need to figure out who your target audience is and what type of customers you want to target. Define the characteristics and behavior of your target audience to optimize your strategy.

2. Create unique content: Create unique content that appeals to your target audience and motivates them to take action. Create different types of content, including blog posts, social media posts, videos, and emails.

3. Optimize your landing pages: optimize your landing pages to make it easy for visitors to get to the information they want. Make sure your landing pages are unique, have an interesting design, and are easy to navigate.

4. Build a sales funnel: When building your sales funnel, make sure that each step in the process is clearly defined. Define each step to ensure customers can navigate easily.

5. Conduct A/B testing: Run A/B tests to see which variation of your landing pages or content works best. A/B testing will help you figure out what changes you need to make to optimize your sales funnel.

6. Set up tracking: To measure the success of your sales funnel, you need to set up tracking. Tracking will allow you to see how many visitors go through the sales funnel and how many purchases are completed.

With proper planning and optimization, you can improve your sales funnel and generate more purchases. Use the above tips to optimize your sales funnel and increase your sales.

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The 80/20 Rule - The Pareto Principle as a Lever Tool for Every Successful Entrepreneur

12/19/2022 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

The 80/20 rule, also known as the Pareto principle, is an important tool for any successful entrepreneur. It states that 80% of the result is achieved by 20% of the effort. In other words: By focusing on the 20% of activities that produce the most result, you can get the most benefit from your efforts.

The Pareto Principle can be applied to many areas of entrepreneurship. For example, you can use it to figure out which advertising tools work best. By measuring results and figuring out which advertising mediums deliver the best results, one can focus on those that provide the most benefit.

You can also use it to figure out how to best use your time. By focusing on the tasks that provide the most benefit, you can make your time more efficient and productive.

The Pareto Principle can also be used to figure out which clients get the greatest results. By analyzing the data and figuring out which customers bring in the most revenue, you can focus on those that bring in the most value.

The Pareto Principle is a useful tool to help business owners maximize results and make their efforts more efficient. By focusing on the 20% of activities that bring the most value, you can maximize results and make your business more successful.

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