Mallorca: Investment in a foreign property by the sea

Sun, wind and sea. That’s what most people think of when they hear the name Mallorca. Mallorca is the absolute favorite travel destination of the Germans. No wonder, because Mallorca has not only the famous Ballermann to offer, but also quiet, beautiful places where you can let your soul dangle. No matter in which part of Mallorca you prefer to live, with our help you will find your dream property. Not only do we recommend the best real estate portals for Mallorca, but we also show you some beautiful examples of how different life and living on Mallorca can be.

Luxury property in Mallorca

Welcome to the Germans’ favourite island. Lots of sun, relaxed people, the sea and only 1-2 hours flight from cities like Berlin, Paris and Madrid. This makes Mallorca one of the most popular regions for many from business and industry, but also for celebrities who are attracted to the island. Especially on the mainland, a little off the coast, you will find villas, fincas and condominiums of the extra class. But beware. If properties are tied up, you will quickly pay too much. Therefore, we strongly recommend working with a local real estate agent. Because in Mallorca there are also Spanish laws, from the residence obligation (subject inhabited houses) to tax issues. Therefore, before we take a look at available apartments and houses, we briefly highlight the property prices in Mallorca.

• Luxury Real Estate Mallorca

Pollensa (Pollença): Living inland

The town of Pollensa is located in the north of the beautiful island of Mallorca. When tourists spend their holidays in Mallorca and want to do more than just party, they also like to come to Pollensa to visit some sights. But which sightseeings are there in Pollensa? There is for example the Roman bridge also called “Pont Roma” and some more sights. The place itself is worth to be explored, as it is an old town and there are many winding streets. Pollensa is home to a mixture of locals and newcomers, which has created a particularly pleasant and warm atmosphere.

Pollença: Beach

Map & location: Pollença

Palma de Mallorca: Life between hustle and bustle and fun

Palma de Mallorca is the capital of the island. Even in this very popular city there is no shortage of sights. However, Palma de Mallorca is famous for long party nights. Palma de Mallorca offers the perfect mix for most holidaymakers, because there are varied beautiful places, such as an old town, a port district or a city beach. But how sensible is it to invest in a property in this popular and much visited city? From Palma, you can quickly get to all the places that could be important, such as the airport or the doctor. This will benefit you as a property owner in this city. You will also never get bored here, as there are countless varied places to visit. However, if you would rather have a bit of peace and quiet and live far away from the stress of everyday life, you should not necessarily choose Palma de Mallorca as a place to live.

Palma de Mallorca: Video Tour

https://www.youtube.com/watch?v=IjkTvUjf0jA

Map & Location: Palma de Mallorca

Son Vida: For the rich & beautiful

Son Vida is one of the most popular residential areas on Mallorca. This town is surrounded by mountains and is located west of Palma de Mallorca. As a residential area it is particularly popular here, because on the one hand the way to the center of Palma de Mallorca, so the hustle and bustle and fun is not far and on the other hand you have the opportunity to retire here in peace and enjoy the silence. This place is also a paradise for golfers and you are quickly at the airport, in the shopping mile or on the beach.

Son Vida: Video

Map & Location: Son Vida

Calvia: Rural living (Santa Ponsa Calvià)

Those who would like to live in Mallorca, but prefer a quieter place to live, could be well served with the town of Calvia. The surroundings here are rather rural and ideal for hiking. If you are particularly fond of nature, you might be well served with the town of Calvia as a place to live. With a property in Calvia you have the possibility to retreat from the tourist hustle and bustle and enjoy the peace and quiet. However, if you feel like having a good time with lots of people, you have the possibility to go to the nearby Palma de Mallorca. Calvia offers a perfect balance and is worth considering when looking for a suitable property.

Calvià from above (video)

Map & Location: Calvià

Port d’Andratx: Life at the harbour

Port d’Andratx is a very popular place for potential property buyers. It is a beautiful harbour that has a yacht club. Visitors to the port love the direct waterfront location and the nature that surrounds the port. No matter who visits this place – All are enchanted. There are also two small beaches and the town of Andratx town is only 5 km away. Port d’Andratx is particularly popular as a place to live as there is the ideal mix of restaurants, cafes, clubs and quiet places to relax. Those looking to buy a property in this area should bear in mind that the cost of living in this location is slightly higher.

Port d’Andratx Video

Map & location: Port d’Andratx

360° view from the harbour

Investing in real estate: Mallorca

Living and working abroad is a very memorable experience, professionally, personally, culturally and of course financially. In this free guide, you’ll get investment tips for all the major cities in Europe, America and Asia, from New York to London to Paris.

• Investing abroad: Real estate (external)

House & Apartment for sale in Mallorca

From the valuation to the speculation tax. In this guide you will find all the important factors simply explained. Learn step by step the procedure in the apartment sale to be able to answer the question: Selling with or without an estate agent? The private sale of real estate involves many risks and sources of error, starting with the apartment valuation to the offer price to the individual marketing, from “advertising” to internal customer network and off market real estate sales.

• Sell apartment
• Sell house
• Sell land
• Sell property

Buying: Portals for cheap real estate

There are now so many real estate portals that broker real estate abroad, that you often do not even know which would be best suited to your own interests and requirements. These real estate portals could be interesting for you.

Immobilienscout24: The all-rounder for all aspects of real estate

Everyone has actually used Immobilienscout24 to search for a property to rent or sell. Immobilienscout24 is also suitable for the search for a property abroad. If you are looking for a property abroad in Mallorca via Immobilienscout24, then you will benefit from a large selection of filter functions and a wide range of different properties.

Porta-Mallorquina: The Mallorca Specialist

The real estate portal Porta-Mallorquina offers many different properties. From luxurious villas to smaller apartments, there is a lot on offer here. If you are not particularly familiar with Mallorca, it is helpful on this website that you can read not only a description of the property, but also a description of the location and the surroundings. So that you do not feel overwhelmed due to the abundance of offers, you can also limit your property search. You can limit the locations, the types of property, the prices and the regions according to your interests. Porta-Mallorquina is for you if you are already sure that you want to invest in a property on Mallorca. Moreover, not only do you have the option of finding a property for sale, but you can just as easily find a property to rent long term or for holidays.

Immowelt: Find a property abroad

The famous portal Immowelt offers not only properties on Mallorca, but as the name suggests, all over the world. Immowelt offers a nice overview of the most important facts about an apartment or a house. Since many properties are sold privately here, you can possibly make one or the other bargain on Immowelt. If you are not under pressure, but on the side looking for a suitable property in Mallorca, you have the opportunity to be informed by e-mail about new offers that match your interests.

Firstmallorca.com: The fast track to property in Mallorca

On the real estate portal Firstmallorca the chance is high that you will find your dream property. Here you can not only specify the type of property, the location and the price, but also activate other filters so that you get faster to the result that fits your ideas. The real estate portal values loyalty, honesty, transparency, respect and team spirit.

5 housing options in Mallorca – What suits you?

Here we have compiled the most popular residential locations on Mallorca for you. We briefly present the residences so that you can get an overview and find out in which place the purchase of a property would be the most sensible for you.

Buying property abroad: Tips

• New York, LA, London & Co: Luxury Real Estate
• Real estate agent
• Buy a holiday home
• Foreign property France
• Foreign property Italy
• Foreign property Spain
• Luxury Real Estate Mallorca
• Off market – especially in hot real estate markets

Promotions, discounts, special offers

Some companies have made it their business model to permanently state the RRP (manufacturer’s suggested retail price) and then cross it out again. Underneath is the own price, of course an absolute bargain compared to the RRP. In the assortment, there is then a small basic stock of high-quality brands for general upgrading, with a maximum share of 10 to 15%. They make sure that customers know that sometimes you can get great bargains. But of course, most of the merchandise consists of returns from big companies, in other words, remnants. Advertising with remnants would be counterproductive, however, because the customer is immediately no longer willing to pay high prices. Advertising with low-priced brand products is much better. Because the customer assumes in principle already from a higher price. Before it gets too complicated, we prefer to quickly write -20% in the shop window.

Regular campaigns anchor brands in the memory

The buyer knows only one thing, here I can save!

Discounts and special promotions are not only possible at the price, of course, you can also offer more product for the money or a special addition, for example, the collection of loyalty points to get a special bonus as a customer. Here you can also tie in again in the area of “cooperations”. If you have a product and find a product for such a promotion that complements yours perfectly, both sides could easily profit from this promotion. For example, if you open a hairdresser’s shop in Llokal, you could join forces with the fashion boutique around the corner. In the fashion boutique are then a few flyers for your hairdressing salon, with you in the store, however, for the fashion boutique. Customers are thus lured from one shop to the other. There are no additional costs for any of the cooperation partners and no one takes customers away from the other. A pure win-win business.

Advantages in online trading

Of course, the same goes for online trade. If your online shop specializes in car tuning, you could connect with an online shop for sports, e.g. football. Both topics are close together in terms of interest. The sport Onlineshop puts discount flyer to each order. With a simple code you get e.g. 5 € discount on your order. In return you put in your order every time a flyer with 15% discount on every order in the Sport Onlineshop. This way you can both profit from each other.

Immediately the customer thinks, saved! Where you can save, you go. On almost every shop window in the city centre you can see large advertising signs, “SALE! Bargain offers up to -75%!” – an important basis, just like the saying:

“Light attracts people”

Definitely remember!

Exclusive offers: For new and regular customers

Exclusive offers are something special, therefore of course also particularly difficult to explain, because each offer is individual! In general, however, it can be said that exclusive offers can e.g. ensure that you can collect contact adresses. So an exclusive offer could already look like that, that you offer a quite classical 5 € discount coupon only for 24 hours. Shortage of time. One receives the coupon code then only if one registers itself e.g. for the new type character. As soon as you have the email address of the potential customer, you can use it for promotions, as long as he or she does not object.

Exclusive offers can also refer to expensive products, so that there is also a shortage. For example, an exclusive offer could be a special cover for a smartphone if it was developed in cooperation with a designer. Depending on the offer, digital or physical, different methods and possibilities can be found here.

An exclusive offer can also refer to the own community. For example, the offer is only available to followers who follow the company on Snapchat. Accordingly, everyone who wants to see the exclusive offer on Friday evening has to log in to Snapchat. It doesn’t always have to be digital either, exclusive offers can be there just for our customers. E.g. through a mailshot and the invitation to an exclusive test drive or the exclusive discount for the next flight. Of course, this offer is only available for existing customers.

Additional benefits, guarantees and service

Additional services make the purchase more attractive. Additional services should be calculated into the purchase price in advance. An additional 2-year warranty or an additional winter tyre change makes the purchase much more interesting for many people. Especially if you as a customer save effort, trouble or costs in the future. Additional services also promote a positive image of your brand, as well as in customer service. Accordingly, additional services can also be used as a marketing tool.

Through additional services you can also distinguish yourself from the competition. If everyone sells the same product and you are the only one who adds something special, then you have an individual product that is only available from you. You already have another unique selling proposition. Whether it is a service or an additional product, this method is especially profitable if it is offered for a long time, so that the service also gets around, keyword word of mouth.

The different methods can be but also nix. So you can mix e.g. the additional service with exclusive offers, e.g. the free winter tire change but only if you buy your car in July! In addition, there is of course still 1,000 € free, for the old!

Guidebook: Setting up your own business & business plan

You want to start your own business as a real estate agent or with another business idea? We support you with tips on your business plan and concept. Whether self-employed full-time or part-time self-employed: If you want to start your own business, you have to think about many things, in advance and in the operational business. From the right idea to health insurance – what do you have to consider when you want to become self-employed?

There is no education or training for entrepreneurs. One is or is not a managing director. What is always important is your own ambition, because that is the only way to improve every day.

The topics at a glance:

1. Business Plan
2. Founder and founding team
3. Product / Service: USP
4. Increase customer satisfaction
5. Market Overview: Customers & Competition
6. Reference customers: Positive image transfer
7. Market analysis / validation: business idea
8. Site selection
9. Marketing concept: Sales
10. Advertising: Google Ads, SEO, Newspaper, Radio?
11. Marketing: Media advertising, costs and CPM
12. Marketing: trade fairs, training courses and trade advertising
13. Marketing: sales talk, telephone call and psychology
14. Marketing: promotions, discounts and special offers
15. Marketing: Social Media and Online Advertising
16. E-business: electronic commerce in the enterprise
17. Cooperations: Cooperative Principle
18. Financial planning: capital and financing

Here you come back to the overview:

• Form a company
• Legal forms: OHG, KG, GmbH, AG & Co.

Children during separation – emotional stress and the right way for parents to deal with it

During a separation or divorce, the children and the parents go through a change that will shape them. Whether this imprint is positive or negative depends mainly on the behavior of the parents. In order to make the separation as pleasant as possible and to burden the children as little as possible with these problems, we, the experts at Lukinski, have put together important tips for you.

The most important at a glance

• The behaviour of the parents is elementary important to prepare the children well for the separation. Open communication within the family helps to eliminate ambiguities.
• A conflict of loyalties for the child should be avoided at all costs!
• After a separation, family life changes and needs to be reorganised. The children should be actively involved in these decisions to ensure an ongoing family life.
• Children, like their parents, go through a change during a separation that shapes them for the future. Especially for young children it is important to recognize the unity of the family even after the separation and not to lose this fixed point.

The task of parents – how to behave correctly

Once a relationship is broken, sooner or later this fact must be admitted. However, the decision to separate is often associated with many unpleasant feelings, disagreements and disputes. Moreover, this step is only the beginning of a series of upheavals and changes. Since the situation is already not easy for the parents, they often find it difficult to leave the joint children out of disputes. However, when separating with children, there are a number of things that should be considered in order to protect the children and the family.

Demarcation between partner and parent

When separating, it is important to distinguish the role as a partner and the role as a parent. You should not forget that even if they have resentment or negative feelings towards the ex-partner, you still remain a parent. This role should not be forgotten or disadvantaged during the separation. In front of the joint children, such feelings should be suppressed and the children should be kept out of arguments as much as possible. Act as a parent with your ex-partner in front of the children and settle disputes in private as partners.

Communication is the be-all and end-all

The separation should be openly communicated by the parents with the children. This is best done in an open conversation before the separation, where the children have the opportunity to ask questions and have enough time to adjust to the situation. Presenting children with a fait accompli only leads to lasting confusion and lots of unanswered questions. Such a conversation is also necessary for children who are already old enough to suspect a separation through previous behaviour, as otherwise unanswered questions remain and loyalty conflicts may arise. Openness is very important in this situation to avoid disputes and ambiguities.

Avoiding a conflict of loyalties

No matter how much the parents quarrel or how great the resentment towards the ex-partner is, the children must not get these disputes. If the children are dragged into the quarrel, it often comes to a conflict of loyalty for the child. However, there are many things that parents do unknowingly during a separation that can lead to such conflicts for children. Secrecy about what to do, pushing for decisions, or defaming the other in their absence can have disastrous effects on the child’s emotional well-being. Both parents should therefore remain neutral towards the child and avoid statements against the other partner in any case.

The child remains a child

Especially with small children, the processing of the separation often manifests itself in disagreements. Whether petulance, irritability or generally bad behavior. These changes in behaviour are an expression of the child’s grief and anger. Such feelings should be given space so that the child can also digest the divorce. However, education is still very important, otherwise the child will lose the sense of right and wrong. During the separation, parents should not forget that the child still remains a child and must be treated as such.

• The behaviour of the parents is elementary important to prepare the children well for the separation.
• Open communication within the family helps to eliminate ambiguities
• A conflict of loyalties for the child should be avoided at all costs!

The future situation – residence, visitation rights and family celebrations

The traditional model of mother, father, child is now the exception rather than the rule. There are all kinds of families, from single parents to large patchwork families. Separation is an issue for many children and most of them are able to cope with the situation because the parents have managed the situation well. Finding a stable balance after the separation between both parents is important and meanwhile also well possible.

After the separation, the parents must decide how to proceed. Where should the child live, how often does the other person see the child, what should the upbringing look like, where will family celebrations be held, and so on. If these points are clarified, nothing stands in the way of further separate family life. There are now many children with two homes that can offer different things. Peace and security with the mother, action and fun with the father. It is important for the children to have a fixed point, a home to which they can relate and which remains a place of retreat for them. It is important not to give the children the feeling of being alone, but to maintain the family feeling.

It can become problematic for families when attempts are made to replace a parent. Especially in the case of separations with young children, it is very likely that a new partner will enter the life of a parent at some point. While a stepfather or stepmother can enrich life in a patchwork family, no new parent can replace the birth one. Even in such forms of family life, it is important to maintain contact with the natural parent. Here again the good cooperation of the parents is needed, because the ex-partner also has to get used to the idea of a new partner in the ex-partner’s life. Good communication and understanding from all sides helps to ease the situation for the child.

• After a separation, family life changes and needs to be reorganised
• The children should be actively involved in these decisions to ensure an ongoing family life.

The impact on the child – especially difficult for young children.

Even today, children of divorce or children with separated parents are automatically seen as problem children and are often still perceived by society as being frowned upon, although this has long since ceased to be the spirit of the times. However, there is no denying that when parents divorce or separate, children also go through a change that also shapes them for the future. So, proper handling especially of young children is elementary during a separation. Young children often feel the bond with their parents as a unit, so knowing about the separation of this unit is often perceived as a betrayal. It is therefore very important to prepare the child gently for the changes and to convey the feeling that this unity continues, just in a different form. The child needs the support and trust of both parents and must be able to continue to recognise the family framework. The final effect of the divorce on the child depends enormously on the behaviour and interaction of the parents.

• Children, like their parents, go through a change when they separate that shapes them for the future.
• Especially for young children it is important to recognize the unity of the family even after the separation and not to lose this fixed point.

Divorce: guide, help and tips

Divorce is complex, it’s true. But you are not alone! Many let themselves separate and in fact, a large part always finds a good solution. Only a small part ends in a quarrel. So that you can prepare well, you will find here our small guides and tips on divorce, family, money and real estate.

• Divorce: Guide

Social ads, online advertising, ads in newspapers

On the other hand, not only the unit price plays a role in the choice of media, but also the quality. Of course, the individual person can be reached more cheaply via a Facebook ad than, for example, through a sales employee at the trade fair stand. At the same time, despite the lower reach of individual persons, the trade fair stand is much more profitable for some industries, as the individual contacts are of higher quality, because they are more intensive, and accordingly potentially bring in more sales. When deciding for or against a certain marketing campaign, the target group analysis is again decisive.

B2B or B2C advertising?

Do you want to reach private consumers or business customers?

Depending on that, you’ll choose to be pro Facebook Advertising or pro trade show, tackle both, or opt for a different strategy entirely. If we are within media advertising, the comparison between the different channels is especially important. What is the effectiveness of each campaign? The comparison is based on the CPM.

CPM – Thousand-Contact-Price

Media advertising is usually calculated using the CPM and compared with other campaigns. The CPM refers to the thousand-contact price. The CPM tells you how high the costs are for reaching 1,000 people. If you want to run a campaign to reach 5 million people, for example, you can use the CPM to compare the different offers. More on the CPM with best practice later in “Social Media”.

Tip. Social Media Advertising. Especially for young companies and startups, social media advertising is worth a look. While other, classic channels are often overbooked by brands and companies, for example because they are used to traditional advertising techniques. Thus, they often fall back on trade magazines and TV advertising. Accordingly, the costs for advertising placements are high because the competition is fierce. It is completely different in social media marketing, for example. Although more and more companies are discovering the social networks for their own marketing campaigns, very few companies use these methods, so it is still possible to run good campaigns, with low click prices and high conversion (we will also come to this technical term in the chapter on social media marketing). The second advantage, the media advertising does not have to be booked in a package. You only pay for the reach that was really generated.

Media advertising costs

There are two advantages to this. Firstly, you don’t have to pay for the big package straight away, you pay for the media advertising bit by bit. The much bigger advantage is that if a campaign doesn’t work, you can cancel it or change it. Of course, you can’t do that with media advertising in trade magazines or on TV. The magazines are printed, the TV program is scheduled. Now, if you’re paying to reach three million people and you realize at the beginning of the campaign that there’s hardly any return, you’ll be happy if you can still edit your campaign.

Advantage Digital Media

Over the course of the business, you’ll learn a lot of marketing strategies. For your business plan, we’ll look at the most important, overarching strategies for attracting customers, from offline to online.

Mailing and direct mail: Classic

Mailings and direct mail are still central tools in marketing today, despite laws against mass mailing of information, sending emails and direct mail in the mailbox is still commonplace. Of course, the ratio of email to direct mail has changed dramatically, but letters are still in vogue. Even modern startups use classic letters, because that’s how you can create awareness again. The less the method junk mail use, the more attractive listening test again to create attention. In your company, you’ll also get regular ads for new mail products. The last one that stuck in my mind was a letter that had a pop up box in it. Of course, when you open the letter, you don’t know that yet. As soon as you open the letter, the box unfolds and literally pops up in your face. Never seen before, ingenious! Whoever has the right idea around the box, e.g. a booth builder, has a great tool to creatively win customers or to bind them again.

Guidebook: Setting up your own business & business plan

You want to start your own business as a real estate agent or with another business idea? We support you with tips on your business plan and concept. Whether self-employed full-time or part-time self-employed: If you want to start your own business, you have to think about many things, in advance and in the operational business. From the right idea to health insurance – what do you have to consider when you want to become self-employed?

There is no education or training for entrepreneurs. One is or is not a managing director. What is always important is your own ambition, because that is the only way to improve every day.

The topics at a glance:

1. Business Plan
2. Founder and founding team
3. Product / Service: USP
4. Increase customer satisfaction
5. Market Overview: Customers & Competition
6. Reference customers: Positive image transfer
7. Market analysis / validation: business idea
8. Site selection
9. Marketing concept: Sales
10. Advertising: Google Ads, SEO, Newspaper, Radio?
11. Marketing: Media advertising, costs and CPM
12. Marketing: trade fairs, training courses and trade advertising
13. Marketing: sales talk, telephone call and psychology
14. Marketing: promotions, discounts and special offers
15. Marketing: Social Media and Online Advertising
16. E-business: electronic commerce in the enterprise
17. Cooperations: Cooperative Principle
18. Financial planning: capital and financing

Here you come back to the overview:

• Form a company
• Legal forms: OHG, KG, GmbH, AG & Co.

Business idea – Market analysis with search engines

So before you waste time conceptualizing, trust search engines like Google, Yahoo, Bing and Duck Duck Go Go. Here you get the best and fastest market analysis ever available to you as an entrepreneur. In the past, entrepreneurs had to scour phone books, request product catalogs from wholesalers. Find out how big your competition is and what their activities are, from product development to marketing. Pricing also plays a big role, because if you are too far above the market price, it will be hard to attract customers. So you need to align yourself with the existing market price.

Business idea – market analysis through competition

At the same time, you should develop a sense for the situation of the competition. Of course, everything always looks positive on the outside, but are appearances really true or are there problems? Learning from the mistakes of others will save you a lot of time. If you discover weaknesses in your competitors’ business models, you can use them profitably for yourself in two ways: You can adapt your product or service accordingly so that your product is the only one that no longer has this flaw / offers the missing function and you can of course use this circumstance in your marketing concept to create a USP for yourself! The most important questions of the competition check at a glance:

1. Are there other developments in “your” direction?
2. Who are your competitors?
3. How much do your products cost with the competition?
4. What are the biggest strengths and weaknesses of your competitors?
5. What are your company’s weaknesses compared to key competitors?

→ How can you counter these weaknesses?

Success: No one believes in you

In fact, somehow everything has been there before. Many let the competition out of their sight or talk down the performance of the competition. “There’s no point!”, “It’s all bullshit!”, “We do it much better!”. Fact is, rather learn from the mistakes of others than make mistakes yourself.

Extrapolation: 0.5% makes the difference

Therefore, you should always keep an eye on the competition. Never think you are more brilliant than everyone else. The difference in success in the long term is often only 0.5% performance between top people with the same starting conditions. Whoever manages to be 0.5% better than the competition in the long run will get the most orders and customers over the years. The secret recipe. If you earn 10,000 € every week and manage a continuous increase of 0.5%, the return is amazing.

• Week 1: €10,000
• Week 2: 10.050 €
• …
• Week 20: €11,048.96
• …
• Week 56: €13,222.07

After one year, you have already earned over 3,200 € more than your competitor every week. Calculated on a monthly basis, you now have 13,000 € more at your disposal, and in the coming year, if conditions remain the same, you will already have over 150,000 € extra. That is for “only” 0.5% more performance.

Development, errors and learnings

That’s why it’s so important to look at developments in your own market, not only with your customers but also with your competitors and rivals.

At the same time, you should not only look at the mistakes of your competitors, but also learn from their successes.

Learnings from mistakes and successes can not only be derived from the direct competition but also from other companies that offer a completely different product, e.g. through similar concepts (logistics, recruiting, personnel management, marketing, etc.). It can be internal to the industry, just as the muesli bar can profit from the protein shake marketing concept, but also external to the industry, e.g. adopting the bonus system for customers of a bank for your own household goods start-up.

1. Take your competition seriously
2. Learn from your competition
3. Ignore your competition

Ignore your competition? A third of your mental work should go into freeing yourself from the competition. Sometimes you have to completely free yourself to find new ways. That’s why it’s also important to learn to forget about others for a little while. Focus on you and your business model. If you constantly orientate yourself on other companies and products, your product will experience little innovation and will therefore hardly differ from the competition. Keyword USP.

Current status, development and positioning

Before it now comes to marketing and advertising, you reflect once again very carefully whether your business idea with the new knowledge gained through the customer analysis and the market analysis really delivers what it promises.

1. Does the idea fit the development of the industry?
2. Are you entering a growth market?
3. Have you actually found a market niche?
4. Know the pros and cons of your idea from a market perspective?
5. Do you know your potential customers?
6. Are there enough buyers in the market for your idea?
7. Do you know your edge over the competition?

Reality Check: Market and Sales! Last but not least in the Reality Check, three questions that determine the success of the market launch:

1. Are you prepared for possible reactions from the competition?
   → Ex. trademark and lawsuit
2. Will you be able to get your price in the market?
3. Do you know how to shape sales and marketing?

The transition to the topic of marketing, advertising and winning customers. Now that you have cleared up the last doubts, it’s time for your marketing.

Guidebook: Setting up your own business & business plan

You want to start your own business as a real estate agent or with another business idea? We support you with tips on your business plan and concept. Whether self-employed full-time or part-time self-employed: If you want to start your own business, you have to think about many things, in advance and in the operational business. From the right idea to health insurance – what do you have to consider when you want to become self-employed?

There is no education or training for entrepreneurs. One is or is not a managing director. What is always important is your own ambition, because that is the only way to improve every day.

The topics at a glance:

1. Business Plan
2. Founder and founding team
3. Product / Service: USP
4. Increase customer satisfaction
5. Market Overview: Customers & Competition
6. Reference customers: Positive image transfer
7. Market analysis / validation: business idea
8. Site selection
9. Marketing concept: Sales
10. Advertising: Google Ads, SEO, Newspaper, Radio?
11. Marketing: Media advertising, costs and CPM
12. Marketing: trade fairs, training courses and trade advertising
13. Marketing: sales talk, telephone call and psychology
14. Marketing: promotions, discounts and special offers
15. Marketing: Social Media and Online Advertising
16. E-business: electronic commerce in the enterprise
17. Cooperations: Cooperative Principle
18. Financial planning: capital and financing

Here you come back to the overview:

• Form a company
• Legal forms: OHG, KG, GmbH, AG & Co.