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What are the biggest mistakes when selling a business?

08/01/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

1. Insufficient preparation: sellers who do not invest sufficient time and effort in researching and preparing for the sale of the business are prone to making mistakes.

2. Unclear price expectations: If the seller doesn't have a clear idea of how much they want to get for their business, it can be difficult to get a realistic price.

3. Lack of expertise: A seller who does not have the expertise needed may not be able to ask the right questions to close a successful deal.

4. Insufficient documentation: a seller who does not provide all relevant documents and records may have a hard time closing a deal.

5. Lack of communication with investors: If a seller is unable to communicate convincingly to investors or answer important questions, it can slow down the sales process.

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How do I become a journalist?

07/28/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

As a journalist, you must first and foremost be able to research and write well. It is also important that you have an interest in the topics you write about.

To become a journalist, it is helpful to have a university degree, for example in journalism, communication studies or media studies. There are also various training programs and internships that will help you get started.

Experience in other fields, such as public relations, can also be helpful. It's important that you continue your education and stay current to keep up with new technologies and developments.

There are also many online resources to help you improve your skills as a journalist. It's helpful to read and listen to blogs, publications, and podcasts related to journalism. This way, you can keep your knowledge up to date.

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How to build a press distribution list

07/18/2023 | by Patrick Fischer, M.Sc., Founder & Data Scientist: FDS

A press distribution list is a list of contacts that you can use to distribute press releases. The following steps can help you build an effective press mailing list:

Identify your target audience: Before creating a press mailing list, you need to know who your target audience is. Think about what type of media your target audience reads to ensure you have the right contacts on your press mailing list.

Research relevant media: Research the media that your target audience reads. You can search for publications that have covered similar topics in the past, or for industry publications that are active in your field.

Collect contact details: Once you have identified relevant media, you need to collect the contact details of the journalists, editors and other important contacts. Check media websites to find contact information, or search LinkedIn for journalists and other relevant contacts.

Make a list: Make a list with the contact details of the relevant media and contacts. The list should include each contact's name, position, and contact information.

Maintain your list: It's important to keep your press mailing list up to date by regularly checking for changes in contacts. Remove outdated contacts and add new ones.

Personalize your outreach: When you're ready to send out your press releases, make sure to personalize your outreach. Use journalists' names in your emails and be aware of why you think your message is relevant to them and their audience.

A well-maintained press mailing list can be a valuable tool for your PR campaign. By following these steps, you can ensure your press releases are sent to the right contacts and your campaign will be successful.

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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's a no-go when looking for a job?

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

A job search "no-go" is a behavior or action that is viewed negatively by potential employers and reduces the likelihood of a successful application. Here are some examples of no-go's in the job search:

Unprofessional appearance: Dressing inappropriately or behaving rudely and disrespectfully toward hiring managers can leave a bad impression.

Inadequate preparation: If you have not done enough research on the company or have no idea about the position you are applying for, this shows a lack of interest and commitment.

Poor application documents: spelling mistakes, unclear CV or an unsuitable application photo can lead to the application being sorted out before the potential employer even has a chance to get to know the candidate better.

Lies or exaggerations: Honesty is critical in application processes. Playing up qualifications or making up experience will usually come to light sooner or later and can lead to a loss of trust.

Unprofessional online presence: employers these days often search online for information about applicants. Sharing inappropriate or unprofessional content on social media or posting negative comments about previous employers or colleagues can hurt an applicant's reputation.

Lack of communication: not responding to messages or calls from the potential employer or not meeting deadlines shows disinterest or a lack of reliability.

Arrogant behavior: Acting arrogant or overbearing during the job application process, such as by belittling other applicants, is rarely well received.

It is important to behave professionally, honestly and respectfully during the job search in order to have the best chance of a successful application.

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