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Finding and addressing business customers - this is how it works

04/04/2023 | By: FDS

It is important for every business to acquire and retain customers. In the B2B area, however, the challenges are often even greater than in the B2C area. It's not just about finding potential customers, but also about convincing them of your products and services. Here are some tips on how your company can successfully find and approach business customers.

Target group analysis: Before you approach potential customers, you should be clear about your target group. Which industries and companies are best suited for your products or services? What needs do these companies have? A thorough target group analysis is essential in order to target your sales activities.

Data Analysis: Data science and analytics can help you identify potential customers and understand their needs. With the help of data, you can refine your target group analysis and develop more targeted approaches. Various tools are available for this, such as CRM systems or web analytics tools.

Content Marketing: With relevant content you can attract the attention of potential customers and convince them of your company. A well-directed content marketing strategy can help your company be seen as an expert in your field. This can also lead to potential customers approaching your company on their own.

Networking: Networking is an important part of B2B sales. It's about making connections and nurturing relationships. Use industry events and conferences to exchange ideas with potential customers and business partners.

Personalization: A personalized approach is often crucial for success in the B2B sector. Show your prospects that you care about their business and their needs. A personalized approach can help capture the prospect's interest and build a positive relationship.

All in all, there are various ways to successfully find and address business customers. A combination of targeted data management, content marketing, networking and personalization can help attract potential customers and build long-term business relationships.

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What is WordPress?

03/15/2023 | By: FDS

WordPress is an open source software used to create and manage websites. It is one of the most popular content management systems (CMS) in the world and is used by many companies, organizations and individuals.

WordPress allows users to create and manage websites quickly and easily without the need for programming skills. It offers a variety of features and plugins that allow users to customize websites to suit their needs. WordPress also supports a variety of content types, including text, images, audio, and video.

Additionally, there are thousands of free and paid WordPress themes (templates) that allow users to quickly and easily design and customize their website. There is also a large community of WordPress developers and users who actively participate in WordPress development and provide support in forums and other online communities.

WordPress is known for its ease of use, flexibility and scalability. It can be used for a variety of websites, including blogs, portfolio websites, e-commerce websites, and corporate websites.

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Business Management Analysis (BWA) - This must be included

03/14/2023 | By: FDS

A business management analysis (BWA) is an important report that provides information about a company's financial position. Here are some important elements that should be included in a BWA:

Sales: the company's sales should be broken down by the different business units or products.

Costs: All costs related to the operation of the company should be recorded. These include, in particular, material costs, personnel costs, rental costs and other operating expenses.

Profits: The gross and net profits of the company should be shown.

Liquidity: The BWA should show the liquidity of the company, in particular the current account balance, open invoices, liabilities as well as loans.

Profitability: The BWA should provide information on the company's profitability, for example by calculating key figures such as the operating profit margin or the return on investment (ROI).

Comparative values: In order to be able to better interpret the results of the BWA, they should be set in relation to previous periods and, if necessary, also to industry standards or comparable companies.

A good BWA should be easy to understand and present the most important key figures at a glance. It is advisable to prepare a BWA on a regular basis in order to quickly identify changes in the company's financial situation and, if necessary, take measures to improve it.

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What are the wrong decisions to avoid as a founder?

03/10/2023 | By: FDS

It is a bad idea to focus on a single product or service. Instead, founders should try to offer multiple products or services to reach a broader range of customers. It is also important to develop a sophisticated strategy for growing the business before going in a particular direction. This will allow the company to plan for the long term and respond to changes in the industry. Another mistake founders should avoid is relying on a single source of funding. It is important to use multiple sources of funding to minimize risk.

1. An overly optimistic plan: if founders are too optimistic, they can focus on too many things at once and quickly lose sight of the big picture. A realistic and step-by-step plan is important to succeed.

2. Insufficient financial management: founders should manage their money responsibly by carefully controlling their expenses and carefully tracking their income.

3. Insufficient market research: it is important to know the needs and wants of target customers before launching a product or service. So founders need to do sufficient market research to validate their business idea and ensure that it will be successful in the market.

4. Scaling too quickly: Growing too fast can lead to financial problems as it is difficult to finance the growth. Founders should therefore aim for realistic growth and scale only when it is financially possible.

5. Hiring too early: Many founders make the mistake of hiring employees too early, before they have sufficiently validated their business. Such an approach can lead to financial difficulties, as you can spend too much money on wages without having enough in return.

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BWA - How to create a business management report

03/09/2023 | By: FDS

A business management analysis (BWA) is an important tool for assessing the economic situation of a company. A BWA provides information about the current operating income and expenses, the financial situation and the profitability of the company.

Here are the steps to create a BWA:

Data collection: gather all relevant data such as sales, costs, expenses, payments, loans and other financial data.

Selecting the BWA form: There are several types of BWAs, including basic BWA and advanced BWA. The choice depends on the complexity of the business.

Calculation of key figures: Calculate key ratios such as gross profit, net profit, operating profit margin, EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization), liquidity ratio, and equity ratio.

Interpretation of Results: Interpret BWA results to understand the company's financial position. Identify weaknesses and opportunities and derive appropriate actions.

Reporting: prepare a report on the results of the BWA. This report should be easy to understand, clearly laid out, and include key findings and recommendations.

It is advisable to prepare a BWA on a regular basis in order to keep an eye on the economic situation of the company and to take measures for improvement if necessary.

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