If you would also like to go for it and launch a startup yourself, you’ll need good ideas and a ton of organization. We’ve got some inspiration for both! How do you systematically approach the search for the next “big thing”? How have others written their success stories? And…
A BIA or business impact analysis emphasizes the most important processes of your company that could threaten your normal business operations in case of a deficit or outage. These processes allow you to evaluate the consequences of a crisis more effectively and devise strategies…
When planning the finer details of your web store, rushing through your financial plan can lead to chaos. It’s important to be aware of how much money you need to spend, and only an extensive finance plan can provide the necessary security for the development of your web store.…
The profit and loss account (P&L) is also called an income statement. All general ledger accounts are summed up with expenses subtracted from the income to leave a profit or loss amount for the period, which is usually one financial year. Daily operating expenses are summarized…
“Agile working” is currently one of the biggest trends in the corporate world. It’s seen as the best way to master the challenges of digitalization. How does the agile approach work? What opportunities and risks does it involve? And what role will this hot topic play in the…
Even when we don’t say anything, we communicate: Our body language is more or less consciously sending out signals to those around us. Gestures, expressions, and posture often share more than we’d like, including how we feel in a given situation. If you’re able to understand body…
Supply and demand determine pricing in a free market. Demand has an influence on supply and vice versa. With no demand, any supply is redundant, and with no supply, demand is ineffective. When they are in equilibrium, prices remain stable and goods are affordable. But how exactly…
Shopping for bread at the bakery, grabbing coffee at the subway station, ordering online: Every day, we get involved in legal transactions, and each time, we enter a declaration of intent. From a legal perspective, the process covers many different aspects. Which elements belong to a declaration of intent, and what types exist? We’ll explain the meaning of a declaration of intent with some...
Starting a business can be a dream come true for many entrepreneurs. Once you’ve decided on the right legal structure and told the IRS about your plans, you may think you’re ready to get going. But depending on the type of business you operate you may have to apply for a license or permit to sell goods or services. Here’s what you need to know.
Getting a loan sometimes doesn’t work out because the bank is not certain that the applicant can afford the instalments. A guarantee helps secure this. But what is a guarantee ? It gives a creditor additional security for an agreed payment: in an emergency, the guarantor pays the amount owed. This can be a private person, but also an insurance company or a bank, for example. What exactly is a...
What happens when a limited liability company needs more money than it can raise on its own? In this instance, the operating agreement may include a call for additional capital contributions. We explore what they are and how they differ from initial capital contributions.
Being self-employed initially sounds tempting to many workers: Free time management, no boss, and the prospect of potentially more money and a new challenge. However, many self-employed people and their clients fall into the trap of false self-employment. What risks does this kind of employment relationship entail for both sides? We answer this question and explain which criteria help to recognize...
For many years, the DISC assessment has been a popular tool used by companies to improve their management style, collaboration, and sales. If you know which of the four DISC assessment types match your personality, you can gain valuable insight to improve your work and influence your career development. But the test has also been under scrutiny.
The bigger an organization is, the more difficult it can be for its management to keep an eye on all procedures. An internal audit – a quality assurance and consulting activity that analyzes business procedures – is helpful in achieving this. The purpose is to ensure the optimal implementation of the organization’s objectives while avoiding unnecessary risks and by complying with applicable...
Just think positively and it will all work out? No matter whether it’s a business or private context, hardly any plans succeed with that approach. The WOOP method combines proven techniques for achieving goals and establishing new habits. Rather than simply ignoring potential obstacles, the WOOP strategy explicitly accounts for them in its plans.
Often in projects, the actual execution of something will differ greatly from the original plan. Using gap analysis, you can see just how much they will differ from the outset. It is the first step on the road to adapting a strategy to fit real-life situations within a company. With this method, you can avoid financial downturns and business setbacks from the start.
A Skype interview can be a perfect solution in a world of work that’s increasingly benefiting from employee mobility. However, it’s important that no personal habits sneak their way into a Skype interview with a future employer. If you consider all the technical and formal requirements, a meeting over Skype can hold the same chances of success as a conventional interview.
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