Table: How many 5-star ratings are needed?

Bad Google reviews? The following table clearly shows how much a bad rating can affect your overall average. It shows you the minimum number of 5-star ratings you need after a single 1-star rating in order to achieve certain target averages. Even small differences in the average can be decisive in determining whether your store is perceived as trustworthy or dubious.

Let’s say you have 5x only 1 star = 95x perfect 5 stars as compensation for top 4.8 rating

Why are good ratings so important?

People trust the opinions of other buyers, even if they only glance briefly at the stars. Studies show that just 1.4 seconds is enough for a rating to influence trust. With an average of just 1.5 stars, you immediately appear dubious and many potential customers will leave. Things look solid from 4 stars upwards, but you only reach the upper segment of customer satisfaction from 4.4 stars upwards. Increase conversion rate through satisfied customers – smart, right?

An average of 4.7 or 4.8 stars is even better, as it indicates consistently high quality. A perfect 5.0 is desirable, but becomes almost impossible as the number of reviews increases. Many customers already consider 4 stars to be good, while 5 stars are considered outstanding with exceptional service. You should therefore focus on consistently collecting very good reviews without being discouraged by a single bad review.

Collect more good reviews

The basis is simple: good products and reliable customer service. However, this alone is often not enough because satisfied customers rate much less frequently than dissatisfied customers. This makes it all the more important that you take active steps to make positive experiences visible. With the right strategy, you can not only keep your average rating stable, but also continuously improve it in the long term – perfect for scaling your e-business through real customer (feedback) and empowerment marketing!

Actively ask customers

Many satisfied customers only leave a review if you ask them to do so directly. That’s why you should specifically remind them after the purchase and ask for feedback. This even works automatically with providers such as Trusted Shops or directly via your online store. With WordPress and WooCommerce, you can use plugins such as WooAutomate or similar tools that make the process much easier. Of course, this also works with Magento, Shopify & Co.

Bonus tip: Valuation change

Give positive feedback, offer vouchers, a partial refund or even a return as a last resort to keep your ratings high. Actively ask for a change here too, especially if a customer feels more uplifted by your actions. In this way, you can convert one or two 1-star ratings into 3 stars, 4 stars or even 5 stars.

Transparent communication – even in minor crisis situations – is a key to better ratings. Customers notice immediately when you are honest, reliable and solution-oriented. If you respond quickly to queries or problems, you create a feeling of security. It is precisely this trust that your customers often reward with a 5-star rating.

Optimize customer service

The smoother the process from order to delivery, the more likely customers are to write a positive review. Small details such as fast delivery times, friendly communication or accommodating returns are remembered. Customers don’t just rate the product itself, but the entire experience with your store. So make it as pleasant as possible for them so that they are happy to give you five stars.

• Actively ask customers for reviews
• Use automation tools
• Communicate quickly and transparently
• Constantly improving customer service

What about lawyers? Yes, of course that’s also possible. However, I recommend first working primarily on your own 1) product and 2) customer service.

Remember: Don’t get 1 star!

A single bad review can massively drag down your average, especially at the beginning when you haven’t collected many reviews yet. With every new 5-star rating, on the other hand, you build trust and secure the reputation of your store. From a value of 4.7 or 4.8 stars, you are in the premium range, which customers associate with high satisfaction and quality. This should be your long-term goal.

Snap & Meta present new VR glasses

In a nutshell: Meta seems to have a stable prototype. Snap, on the other hand, has a more global design, immature demos and mixed reactions.

We compare and test the two models and answer the question: Why is Zuckerberg investing billions in VR & AR?

Let’s start with the presentation of Snap’s “Spectacles”.

Snap “Spectacles” Presentation – Video

Snap is launching an updated version of its AR glasses on the market with the new Spectacles. Although they are chunkier than their predecessors, they offer exciting approaches for integrating augmented reality into everyday life. The new features, including gesture control and AR effects, are currently only aimed at developers – a step towards further exploring the potential of this technology.

Mark Zuckerberg presents “Orion” prototype – Video

Mark Zuckerberg eagerly presents the Orion prototype from Meta, which is considered a revolutionary AR headset. With holographic representations in the real world and a new type of gesture control that works via a neural interface, Meta is focusing on a high-tech experience. Although the Orion glasses are currently only a prototype, they offer an impressive glimpse into the future of augmented reality.

Snap & Meta glasses in the test

One of my favorite podcasts, Hard Fork, sums it up like this:

• Snap: Very very simple model
• Meta: Significantly more advanced than Snap

Great episode, part 1 right at the beginning.

But long story short, if you want a detailed review of the two models, take a look at these two videos.

Snap’s Spectacles glasses in the test

What can Spectacles do?

In contrast to Meta’s “Orion”, feelings are not only mixed in the podcast, this review also shows that the idea is good, but the implementation is not. Here are the most important findings about Spectacles:

The new Snap Spectacles receive mixed reviews in the video. The original Spectacles were praised for their simple and fun functionality, especially for recording short videos for Snapchat. The new AR glasses, on the other hand, seem clunkier and less suitable for everyday use. The further development towards augmented reality (AR) is highlighted as a positive aspect, as Snap has successfuly popularized AR filters in the past. However, the new glasses are currently only available as a developer kit and the demos were still immature. The high fee of $99 per month for developers is also viewed critically.

“The new AR glasses, on the other hand, are clunkier and less suitable for everyday use.”

5 facts about the “Spectacles” glasses

• Chunkier design
• Developer kit only, $99/month
• Immature demos
• Positive: Snap’s AR expertise
• Mixed reactions

Meta’s “Orion” glasses for (still) only $10,000

What can Orion do?

Here is the whole video ultra briefly summarized for you:

It displays holograms in the real world and enables gesture control thanks to a neural interface. The glasses offer a large field of vision and virtually artifact-free displays. Particularly impressive is the integration of AI, which makes the experience even more realistic. Despite some weaknesses, such as the clunky design and short battery life, the tester emphasizes that the glasses are a glimpse into the future of augmented reality. However, they are currently only an expensive prototype.

“Overall praise for meta – though always bear in mind, from a nerd, whether the concept catches on, we’ll see.”

5 facts about the “Orion” glasses

The most important thing from the video for you:

1. Innovative AR headset
2. Holograms in the real world
3. Control through gestures (neural)
4. Very good field of view, few artifacts
5. High price ($10,000), prototype

Testimonial in advertising: recommendation marketing

A testimonial is a positive description, endorsement or recommendation of a product or service by a person who has already used the product or service. Testimonials are often written by customers, influencers, business partners or media professionals and are used to authentically present the added value of a product or service.

Advantages of testimonials

Simply put:

1. Positive recommendation / experience
2. Strengthens trust of the user / visitor
3. Increase conversion rate

Ways to collect testimonials

There are several ways to collect and use testimonials(brand advocates). One way is to provide a questionnaire or form where customers can describe their experience with the product or service. These testimonials can then be used on the website or in other marketing materials to build potential customers’ trust in the company or brand.

Influencer and content creator

Another option is to ask customers or influencers or “smaller” content creators to produce a video describing their experience with the product or service. These videos can then be published on the website or on social platforms such as YouTube or Instagram.

It is important that testimonials are authentic and credible, as they can have a great impact on the decisions of potential customers. It is therefore advisable to use real customer or user experiences and not made-up or purchased testimonials. Testimonials should also be as specific as possible, rather than general, so that they are relevant to the target audience.

Trust = Better conversion rate

Testimonials can be used in a variety of ways to build trust in a company or brand and increase conversion rates. For example, they can be used on the website or in landing pages to convince users of the benefits of the product or service.

They can also be used in emails, blog posts or social media to draw users’ attention to the company or brand and get them to try the product or service. Testimonials can also be used in classic print advertising materials such as flyers or brochures as well to build trust in the company or brand.

It is important to note that testimonials are not a substitute for a comprehensive cross-media strategy, but merely one element of it. They should therefore be embedded in the overall context of the marketing campaign and coordinated with each other.

Testimonial example

Here directly a few practical example for you:

Example Media and Advertising

An example of a testimonial in advertising and marketing might be:

“I am thrilled with the new marketing campaign from XYZ Inc. It has not only helped increase our brand awareness, but also increased our sales by 20%. Working with the XYZ Inc. marketing team was very professional and on target from the beginning. We look forward to future projects with them.”

This testimonial describes the positive impact of the marketing campaign on brand awareness and sales, and praises the marketing team at XYZ Inc. It is clear that the client is satisfied and looking forward to future projects.

Example insurance and pension

An example of a testimonial in insurance might be:

“I have been a customer of ABC Insurance for years and am always impressed with their professional advice and excellent customer service. I recently had a claim that was settled quickly and easily by the insurance company. I feel I am in good hands with ABC Insurance and highly recommend them.”

This testimonial describes the customer’s positive experience with the insurance company and praises both the advice and customer service. The customer feels well taken care of and recommends the insurance company to others.

Internet ratings are too often ignored

Everyone is talking about online marketing, performance optimization and sales funnels. That’s great! But companies often forget the “simple things”.

Today we present you an extremely simple, at the same time efficient, marketing method:

The “small, first, good assessment

Extremely underrated, someone hears about “you” and searches for “you” directly on smartphone.

• Search query 1: “Company X
• Search query 2: “Company X reviews”

Now, if you have only one rating, it makes up the “whole” digital image of your company.

If interested in a rating?

Study: Influence of online ratings

Let’Let’s take a look at whether people care. For that, here’s an old and proven study. When you read online reviews about products or services, to what extent do they influence you?

Depending on the age group:

• 91-95% – ratings provide orientation
• 78-90% – Increase confidence in an offer
• 74-89% – Influence the purchase decision
• 53-57% – Ratings provide inspiration.

You can find more statistics at Statista

A real killer for startups in particular

Just one negative rating can be a real killer, especially for startups. Even without this effect, statistically 90% of startups fail in the first 5 years. So every strategic advantage helps in the “fight” for survival.

Even companies that have been on the market for over 10 years according to the commercial register tend to forget their digital reputation. Of course, you have the advantage of already having regular customers and (offline) referral marketing, word-of-mouth.

Example: 1 star / 5 stars in comparison

Here is a practical example of how a 1-star rating compares to a 5-star rating.

Important – you will now look at the Google Maps screenshot for 5 or even 10 seconds. In a real situation, looking for a company for task X, you would pay attention to a strange company only 2, 3 seconds and then, directly click on the next one.

1 star rating: Bad for your online image

5 star rating: Good for your online image

Disadvantages of bad ratings

You can probably already guess the disadvantages of bad reviews.

You lose prospects and customers – disadvantage 1

You lose prospects looking for you, reviews or experience. Remember the study. 90% or more, use reviews to guide their buying decisions. 74-89% are also directly influenced by reviews when it comes to actually buying. Let’s say half of the prospects don’t call them. What if you could change that, in just 3, 4 minutes? You can!

Tip. Change now, in 3, 4 minutes

Now go to Google Business, enter your company and ask acquaintances, colleagues or business partners to give the first, second or even third positive review.

• 91-95% – ratings provide orientation
• 74-89% – Influence the purchase decision

Algorithm excludes your company – disadvantage 2

There is one more reason why you should take care of your Google reviews. If your ratings are too bad, the algorithm simply does not show you anymore. Especially in cities with high competition density very unfavorable for your new customer acquisition.

An algorithm decides what “happens”, i.e. what is shown, done and what is not. The criteria for this are set by people and programmers make a program code out of it, the algorithm. A small program code that evaluates content.

Simply put, the algorithm might look like this:

• Rating < 2 stars: Do not show if sufficient > 2 stars available
• Rating < 3 stars: Do not show if sufficient > 3 stars available
• Rating < 4 stars: Do not show if sufficient > 4 stars available
• …

Reviews on Facebook, Kununu, etc.

There are many online rating platforms, whether rating platform itself (like Kununu for employers) or social networks like Facebook. So already in the first steps of your marketing concept, you should think about the “small, first, good evaluation”.

Literature tips: 5 books for your “office

Here is a list of good book titles that you can find on Amazon, but also in other online book stores.

More book lists and recommendations:

• Video marketing / Youtube book
• Influencer Marketing Book

Mindful Social Media Marketing

The community rating of buyers on Amazon:

5.0 / 5.0 stars with 64 reviews

About the title:

• Title: Mindful Social Media Marketing
• Author: Bianca Fritz
• Buy on Amazon

Social media marketing for dummies

A classic of literature that always goes, the “For Dummies” series. The community rating of buyers on Amazon:

4.7 / 5.0 stars with 44 reviews

About the title:

• Title: Social Media Marketing for Dummies
• Author: Gero Pflüger
• Buy on Amazon

Social Media Marketing 3.0

The community rating of buyers on Amazon:

4.5 / 5.0 stars with 37 reviews

About the title:

• Title: Social Media Marketing 3.0
• Author: Marco Impertore
• Buy on Amazon

Follow me! Successful social media marketing

The community rating of buyers on Amazon:

4.5 / 5.0 stars with 284 reviews

About the title:

• Title: Follow me! Successful Social Media Marketing
• Authors: Karim-Patrick Bannour, Anne Grabs and Elisabeth Vogl
• Buy on Amazon

#1 on social media

The community rating of buyers on Amazon:

4.4 / 5.0 stars with 112 reviews

About the title:

• Title: #1 on social media
• Author: Anton Marquardt
• Buy on Amazon

Find good books? Look for many + good reviews

We wanted to keep the list short though! But if you’re looking for more good social media literature, be sure to check the typical online platforms for reviews so you can tell the good books from the bad.

But also make sure that it is not just ten reviews, ideally the books should have 100, 200 reviews. After all, you can also buy reviews!

By the way, we also have an episode on this topic in our podcast.

• Fake rating in online store

Literature on: YouTube Marketing

YouTube Marketing Book – having the right YouTube Marketing book on your bookshelf is a must for every social media manager! Especially for beginners it is important to have an overview of video marketing and YouTube marketing. From the first competitive analysis, to the concept and the finished strategy, with which you can cover your own community management, but also regular postings on YouTube. But what really matters when it comes to YouTube marketing?

• YouTube Marketing Book

Literature on: Influencer Marketing

• Influencer Marketing Book

Key figures: Project, duration and increase

Statistics say more than 1,000 words! That’s why today we’ve picked out an example that we’re just entering the second year of the agency’s work. Our client is extremely happy, especially thanks to the equally increasing sales in the online shop. For Sunday, we just wanted to give a few little insights into 1) how an SEO project for online shops roughly works and 2) how much does success “increase” and how do you measure it, aside from sales? More precisely, how do you recognize the increase that the agency has made through its work?

The project at a glance:

• Industry: Travel / E-Commerce
• Goal: Search Engine Optimization / Content Marketing
• Customer since: 2011 – 03.2020
• Project start (agency): 03.2020
• Active publication: 04.2020
• Key figure reporting by: Xovi evaluation (software)
• Rating (Xovi) before: 4.05
• Rating (Xovi) after: 19.12
• 372 % Performance increase

Questions and answers: Search engine optimization for Google

1. How does SEO work?
2. How long does SEO take?
3. How is the valuation of the domain created?

How does SEO work?

What do you do with SEO? What are SEO standards? SEO stands as an abbreviation for search engine optimization. This refers to various search engines, or rather their algorithm, which is responsible for the rankings, i.e. the placements in the search results.

The focus is, simply put:

• 87 % good content (research to production and improvement over time)
• 6 % internal and external linking
• 3 % Inbound links
• 2 % Media content
• 2 % Social media

We have more on the topic here:

• SEO Agency – Reach through good content
• Learn (free of charge): Writing SEO texts

How long does SEO take?

Every project is individual, just like the product range in the online shop. Therefore, the question “how long does SEO take?” can not be answered in a general way. However, this best practice gives a small insight into the matter, or the time that such a project needs.

For this project we can give the following internal key figures:

• Participation in the project: 3
• Of which head level: 1
• Preparation: 1 month
• Minimum duration: 24 months

Not every area can be increased so quickly. Finance, for example, but also real estate are much harder to conquer. But there is also high competition in the travel industry. Our client sells in something like 100 products, including about 5% high-priced, 4-digit products. The rest is usually accessories.

Comparison to other industries (basis travel = x1):

• Finance: x6
• Real Estate: x8

How is the valuation of the domain created?

The software checks here roundabout 1 million keyword / keyword combinations. For all keywords, certain domains (websites) rank.

The software then looks to evaluate, simply put:

1. How often is a domain represented?
2. How high is the domain placed?
3. How much competition exists?

• Client (preferred): Xovi (fee required)
• Our recommendation: Google Search (free of charge)

Before / after comparison (software): + 372 %.

Here’s another quick look at the software’s stats in the graph. In comparison:

Before: Rating at 4.05

After: Rating at 19.12

Field report: AF Steuercoaching – Foreword

Why did I do the “Next Level Tax Coaching”? Primarily, I’m not interested in lowering my personal income tax. I want to know overarching, in-depth, and most importantly, proven and legal tax reduction tips.

Maybe you feel the same way – Anyone who pushes their own e-commerce through social ads or plans campaigns, who designs media and who is responsible for what happens in large corporations, pays taxes. It doesn’t matter if you’re an entrepreneurial employee or an entrepreneur yourself. Taxes are a huge item (when you add up all your taxes) and your tax burden will always increase as you earn more – which I’m sure you want.

Here you can get directly to the coaching and also other participants’ experiences.

• AF Steuercoaching – Application
• AF Coaching Experiences – Participant Interviews

Media reports at Ntv, FIV and Wallstreet Online. But, who are we actually talking about, Who is Alex Fischer? What is tax coaching all about?

What is tax coaching, very very briefly, about?

Anyone who earns millions with real estate AND has managed to open the largest YouTube channel in Germany for such a complex topic as “real estate and finance” AND who has written a bestseller with over 200,000 readers – knows how it works: tax optimization. Even better: optimize taxes and convert them into private assets.

Sound like work? It is / it will be! Contrary to what I thought at the beginning, tax coaching is not only more time-consuming, but also more extensive than I thought. If tax optimization were easy, everyone would do it.

A word in advance: it’s not worth it for everyone, but what you learn is unbeatable knowledge that only the big corporations know.

Conversely, you can use this knowledge to convert taxes into private wealth.

Problem: Tax consultant and his know how

My original and personal motivation for tax coaching: my tax advisor. To put it more precisely: his lack of advice, or rather, the lack of optimization. Do you know this too? He and his tax firm are tax administrators, they don’t design, how could they. They staple our receipts and file and account for them – simply put. To the question: why doesn’t my tax accountant help me optimize my taxes?

He can’t.

Reason 1) is the education and the purpose of the profession and reason 2) your always, absolutely individual constellation. To put it very simply: Are you buying a property privately or through an existing or even new company?

Basic problem: Bad tax advisors & compliance<

The problem of many entrepreneurs and self-employed people is a bad tax adviser. One of the reasons for this is their education. The state is responsible for this. A close look at the training makes it clear: tax structuring and optimization is, contrary to what some people expect, not part of the core curriculum. Instead, tax returns and balance sheets are mainly on the timetable. And so many clients who go to their tax advisors with questions and suggestions are often dispatched with the same answers. Not only that: most entrepreneurs hardly know anything about taxes themselves and hand this task over to their tax advisors full of confidence. “Big mistake”, means Alex Fischer. Contrary to the occupation name, tax advisors offer namely no consultation, but Compliance. This means nothing other than compliance with the law and the rules.

• The training to become a tax advisor is subject to the state
• No tax structuring in the curriculum
• Conformity to rules instead of advice

First of all, I didn’t naturally go looking for opinions and reviews.

What does the community say about Alex Fischer’s tax coaching?

In the first part of my internet research, my #1 goal was testimonials from former participants.

With phrases like “impress my accountant”…. Impress my tax consultant with real (!) expertise, exactly my goal.

After all, as Alex Fischer has said in several videos and interviews, no one knows your professional and personal situation as well as you do. So my mission: I want to learn the tax game.

Application, initial interview and decision

Before I started with the tax coaching, I did some research, read testimonials and took a close look at Fischer’s website. Besides his book, a podcast and his regular blog, I finally found the application form for the tax coaching.

What’s striking here: Unlike many other coaching programs, you have to apply first!

Application and form

What? Why? In fact, participants are selected here. Alex Fischer’s tax coaching is not a “simple tax course”, here strong personalities come together who want to work on creative tax solutions with entrepreneurial interest, after all, the tax coaching also includes two live events. So space is limited and participants should have real will.

Spoiler: This also extremely benefits the live events. As I’ll tell you in a moment, the others from the AF tax community were extremely interesting and cool people, from master craftsmen to doctors. Yes, there were tax accountants on site too!

Initial interview: What’s it about?

Since the conversations are quite individual, here’s just a quick teaser for you:

The application was followed by an initial interview, where I was not only able to ask my questions, but also had to explain my current tax situation – the whole thing obligation-free, of course. Why the analysis interview? It allows the Alex Fischers team to get a better overview of my qualifications and to assess whether tax coaching would really help me.

Understandable, I think.

You probably guessed it: I got a ticket!

So I can give you a few more, real insiders from AF tax coaching right now!

Foyer (event location in Düsseldorf):

Prominently located, close to the famous Königsallee.

Why did I do the AF tax coaching?

I’ve been following Alex Fischer’s YouTube channel for a while now. I’ve also stumbled across his book “Reicher als die Geissens” (Richer than the Geisses) and his podcast a few times in the past. There has been a lot of talk here about the tax piano and the “tax game” in particular. I wonder if my tax advisor was familiar with that as well. The answer: a matter-of-fact No. The solution: expert knowledge is needed. Because most entrepreneurs, like me delegate their tax activities. Instead, you should become active as an entrepreneur yourself and give the tax know-how you have learned here to your advisor, says Alex Fischer in one of his videos. And especially when looking at my future, I realize:

I don’t just want to save taxes. But also to build up stable assets from this money.

Next Level Tax Coaching: Structure, Participants & Speakers<

How to become a tax professional? Someone needs to analyze my situation, identify knowledge gaps and provide targeted information: Principle Tax Coaching. A special lexicon explaining important terms and ‘orientation maps’ without jargon was created for coaching, just as additional modules with catch-up information were developed for individual participants. Means, the complex “tax-speak” of tax consultants in simple, understandable words.

The approach: increase knowledge. When conveying the knowledge content, as with the structure, not only is the different personality types of the participants taken into account, but also the different knowledge gaps. The whole thing is also available – apart from the live events – as an online knowledge database, quasi to-go.

Everyone can dive as deep as is helpful for themselves

It is important to Alex Fischer that every participant really learns something during the coaching and thus benefits from the new tax knowledge even decades later. Advertising slogan? No. Alex’s bestseller, which I have read of course, had 200,000 readers. All content is always aimed at long term wealth building. This is not about 1, 2, 3 tax saving tips, but about structuring companies, as well as acquisitions and their identities – but that would already go too deep for this experience report.

View from the audience to the stage and speaker Alex Fischer:

Complex things simply explained and step by step into the complexity.

This is what almost 400 participants look like!

My way to becoming a tax professional: webinars & individual discussions with experts<

After acceptance from the Alex Fischers team, the coaching already began for me. To learn how to play the fiscal piano, of course, not just an online course is enough. Instead, Alex Fischer also puts a lot of emphasis on implementation vouchers, question rounds and personal meetings with the speakers.

So the building blocks of coaching are many and varied:

1. Lifelong access to an online academy
2. Live webinars with different speakers
3. Join the exclusive Facebook group Alex Fischers
4. Live events at the beginning and end
5. Personal conversations to network
6. Implementation packages to take home
7. Expert vouchers for personal strategy development

You can also talk to Alex Fischer in person at the live events:

Participants: From the board of directors to the master craftsman

While I was able to acquire the rough tax knowledge through the video seminars, I finally got to know the other participants personally at the big closing event with Q&A session. Who thinks that this is a cozy get-together with cookies and cake, is wrong.

Almost 400 people met at the Hotel Intercontinental

Almost 400 people met at the Hotel Intercontinental to get to know Alex Fischer and his team of experts in person. Among the other participants were many entrepreneurs and self-employed, master craftsmen, investors, doctors and lawyers. The common thirst for knowledge at such an event unites and thus led to an exuberant and motivating atmosphere.

Of course, a selfie is not to be missed!

The wide-ranging specialist team of Alex Fischer

Of course, the in-person conferences and events aren’t just Alex Fischer and his team. After some time, a row of tables at the entrance caught my eye. These are experts, specially commissioned by Fischer for this purpose, who are available to his coaching participants for individual concerns. At the expert tables there are, among others:

• Lawyers
• Foundation experts
• Holding Consultant
• Tax consultant
• Contract Lawyer

Here, too, my individual questions were answered with patience and any last scepticism about the highly praised tax coaching was put to rest. So that I can also benefit from my new tax know-how in the future, I was finally given a black cloth bag to take home – a “sustainability and implementation package” Alex Fischer calls it with all the tools and plans inside to support me in my next tax planning. I also find reference books, documents and templates for my tax advisor in my implementation pack. The motivation is summarized for me by one of the attendees:

Our goal is for our participants to recoup their costs by a factor of at least three within the first year.

Makes sense, I think to myself. And with the business cards of other participants in one hand and my black cloth bag in the other hand I feel well prepared for this.

The Intercontinental in Düsseldorf (you can find photos at the beginning of the article) with its large rooms and atmosphere offers the perfect place to make contacts and get into the tax game.

Late in the evening, the topics and conversations become more intense and information-dense (don’t forget a notepad!).

Expertise : Real Estate Investor & Tax Guru

Before I summarize the core topics of the Coaching to you, here once completely briefly Alex Fischer in the Portrait: Born as son of two teachers with 0& own capital it is considered meanwhile as one of the most well-known real estate investors and tax Coaches of Germany. In its 25 Jährigen career, so Fischer, it bought already over 2,000 dwellings, reorganized and so also again sold. Its private real estate existence at a value of 20,0000 square meters is located Duesseldorf, exactly like its office. He acquired his knowledge of real estate and taxes himself and now passes on his tips and tricks to people like me who are thirsty for knowledge. Here is a brief overview of the biggest coaching topics.

Watch out for tax traps: Joint Ventures, Investments & Corporations

In addition to the big mistake of delegating one’s tax responsibilities, there are plenty of other examples of tax traps that many a high earner or entrepreneur steps into on a regular basis. One example is a joint venture. If you choose the wrong form of company, you can end up with high taxes. This is also the case when selling. With the right tax rate you learn here how to pay only 1.5%. The basic principles behind this were also clearly explained to me at the seminar.

If you do it right, you only have to pay 1.5% tax

It is also worth thinking twice when buying a property. If you buy it privately or in a corporation, the tax rate changes here as well. As a well-known real estate investor, Alex Fischer is very knowledgeable and provides extensive advice before it comes to escapades in the settlement and these expensive consequences behind. The same applies to investments.

Tax structuring: the right combination for ultimate wealth creation

In order to avoid these and more pitfalls, the coaching places a great deal of emphasis on the skilful combination of several types of design. These, it is explained to me, always have their advantages and disadvantages. What looks like a small decision at first, adds up later and so, if I combine cleverly, I can save taxes. In order to make this tax game simple and yet effective for his participants, Alex Fischer’s main focus is on overriding principles, strategies and “basic laws”. Formalities and the “typical” paragraphs that every tax advisor knows are rather further down the priority list.

Design types are combined in such a way that the disadvantages cancel each other out and as many advantages as possible are left over

The Pareto Principle applied fiscally: Setting priorities

One of the basic rules that Alex Fischer values is based on the well-known Pareto principle: You only need to have understood the important 20% that cause 80% of the results. Only in this way does an entrepreneur become a strategically thinking and fiscally intelligent entrepreneur – the goal of coaching.

Cause 80% of the results with 20% of the right knowledge

During the expert discussions it becomes clear: This important 20% is mostly reserved for large corporations. And through the various expertise of the speakers, it is passed on to me, as a participant of the coaching, by means of concrete examples.

Short insight into the first weeks: Lots of know how and … Tax shifts!

As I said before, the coaching was specially designed to benefit every participant from day 1. So the first week starts with an easy introduction to the topic of taxes – perfect for an ignorant freelancer like me:

• The tax game & its rules<
• Origin & purposes of taxes<
• Which taxes bring in the most revenue?
• What is tax planning?
• Convert taxes & duties into private assets<

///TIP – Bracket

Alex Fischer’s knowledge is composed of tax, entrepreneurial and investment know-how. In addition, the topics of asset building, lending and transfer are also adressed. Asset protection and building also play an important role. Using the free cash from tax deferral is especially helpful for the latter. The money saved here thus becomes equity and one then uses this for an investment:

“I used to think that tax deferrals were just a ‘nice-to-have’ if you’re not that liquid right now. But in fact, tax deferrals in Germany are an incredible wealth-building accelerator.”

Conclusion: Taxes are a matter for the boss

I was able to benefit from my newly learned tax knowledge not only privately. I was also able to give my tax advisor a few things to do and now have more control over what happens with my hard-earned money. I was also able to make professional contacts with like-minded people through the events and the Alex Fischers Facebook group. As a medium-sized entrepreneur, I am happy that Alex is passing on his knowledge to me and sharing his network of entrepreneurs, lawyers and investors with me.

Related links: Alex Fischer

Learning from real estate investor, the best way to learn taxes online. Here are 2 more extremely good tips, the 80% of his knowledge about tax optimization and finance Alex Fischer gives for free on Spotify, iTunes and YouTube. Yes, for free.

Do you already know his bestseller

In fact, I devoured this book. Alex Fischer is an expert on taxes. His book has over 200,000 readers, for good reason. It’s also in the top 100 on Amazon! In a nutshell, you get 43 timeless laws of success that will make you more successful financially, professionally and personally. You learn to achieve your goals, to “materialize” them (what that means, you learn in the book).

You get exact step-by-step instructions to your own personal financial freedom. So you avoid really frustrating mistakes right at the beginning. As a private person and / or as an entrepreneur, from Alex Fischer you will learn how to avoid these fatal mistakes and at the same time follow your passion – every day! In total, the book contains hundreds of learnings that will specifically help you lead a happier and more fulfilled life. Best of all, you can get the audiobook for free on Spotify and iTunes! Alex Fischer: Bestselling RADG (Review).

Alex Fischer (opening) live on the speaker stage. In the background his bestseller:

Tip. 100,000+ followers want new tips and tricks for taxes from Alex Fischer on a regular basis. Learn a lot about taxes, finance and real estate for free here. Click here to go to Alex Fischer Youtube. Once you’re ready, be sure to check out Tax Coaching:

Here you can get directly to the coaching and also other participants’ experiences.

• AF Steuercoaching – Application
• AF Coaching Experiences – Participant Interviews

Positive reviews in social networks

Of course, today we could take a look at the general question, how do you get happy employees? From working hours to flexible working hours, bonus payments, more vacation days, the general mood in the team to small attentions that one should give to the employer! But we want to focus on our reputation in the digital media. After all, when have you ever checked your ratings on Google? Or rather, when was the last time you positively influenced the ratings?

The active organisation of the evaluations only takes a few days of work, but has a positive impact for months and years. Passive, positive PR. It gets even better, after all a third person is talking about you, namely Google. She rates this platform with 4.8 out of 5 stars. Recommendation marketing of the best form.

Positive reviews are worth too much. Especially when it comes to qualified employees, because they inform themselves in advance about them as a potential new employer. And the reputation, i.e. the external reputation, has become enormously important for companies in times of social media and evaluation portals. The fact is that very few companies think about actively influencing valuations on a day-to-day basis. It’s not a question of bought reviews or influenced reviews, but only of asking satisfied customers and satisfied employees whether they would write a review.

From experience we have been social media consultants in many companies. Even companies with more than 1000 employees and 100 locations rarely pay attention to their reputation on the Internet. In particular, portals that are not directly in focus, for most only Facebook, are usually ignored. More than 80% of people search their information on Google. Have you ever actively looked at your Google ratings?

Many who inform themselves in advance, however, also go to other portals, which deal e.g. only with the topic business, business and employers. Rating portals like Kununu. We would therefore like to take a look today at the most important platform for our own reputation.

Google reviews

Google is the platform and contact point when it comes to searching for information on the Internet. From simple words to formulated questions, users search here several times a day for everything they want to know or buy. Ratings on Google are all too important to find employees. Satisfied employees who give positive ratings as advocates are of course worth their weight in gold, because all interested parties will read through exactly these ratings. Google allows any user to rate, so any company can also rate products and online stores. The rating does not only play an important role for the Google algorithm, especially for prospective customers it is an important source of information. What do the others say?

Social reputation is an extremely important issue in the recruitment of employees. After all, as an employee you get involved with a company for months, years and sometimes even for a lifetime. Every decision has to be well made. Especially if you have previously invested many years in your own academic education, you want an employer who promises satisfaction. The primary issue here is not always the amount of the salary payment; the working environment in particular makes a big difference. The team is very right, do you get along with the others? Flexible working hours are important, what if I have to stay at home? Do I have to be in the office every morning at 6 am or can I start flexible?

All these questions can be in the form of evaluation text and positively packaged in advance. For example, when several employees talk about flexible working hours or the generally very good mood in the team. When every day at work is fun, it doesn’t feel like work anymore!

• Active question, for example, at the end of the internship
• Answer typical questions through little stories and phrases

Facebook reviews

Facebook is also an important platform for personnel recruitment. Because here there is a large average of society, from 20 to 70 years. Many of you will be taking a look at the new company for the first time before applying. What’s the company doing? What’s this all about? What do the others say about company XY? Facebook is the largest social network in the world and of course Facebook also relies on the rating option.

Did you know? Facebook has started as a pure rating platform. Company founder Mark Zuckerberg developed a platform on which students at Harvard University could be compared with each other. Hot or not? Of course it was an immediate and big excitement, not only on campus, but all over America. So Facebook spread like wildfire. More and more students at universities wanted to know exactly what Facebook is. The rest is history.

So reviews have always been the central means of Facebook. Just think of the like button, in the end also an evaluation form. Accordingly, you should also win over your employees as advocates when it comes to positive reviews on Facebook. The majority of potential new employees first check out Facebook. Insofar as their recruitment strategy does not involve employees under 20 years of money, Facebook is an excellent way to find good employees. Always pay attention to your digital reputation and check your reviews on Facebook. If necessary, ask employees if they would like to give a positive assessment! Especially when employees have been working for you for two or three years, it seems like a great job! Why not make it a little story?

Many of the reviews that are made relate primarily to products. Companies and enterprises, why should they be evaluated? As a rule, you will have to deal with negative comments on social networks if you have hardly any public relations work otherwise. In order to counteract this, one should pay attention to one’s own positive reputation in digital media. The active organisation of the evaluations only takes a few days of work, but has a positive impact for months and years. Passive, positive PR. It gets even better, after all, a third person is talking about them, namely Google. She rates this platform with 4.8 out of 5 stars. Recommendation marketing of the best form.

Kununu, Yelp & Co

There are other social networks besides Facebook and Google? By Google we mean of course the whole Google universe, including YouTube. In fact, there are other relevant platforms fighting for opinion and reach. A few of these platforms are relevant when it comes to evaluating companies. This includes e.g. the company rating portal Kununu but also yellow. Both platforms have relatively little reach compared to the two companies mentioned above, but in the specific area of company research they are relevant and should therefore also be considered when it comes to the positive, digital reputation.

Social ads for your target group

If you want to recruit employees extremely efficiently, use your employee advocates for a small pr-video, which you then use for your social ads.

Imagine two young people philosophizing on a park bench about their future after graduating from high school and looking for the right job. Suddenly a small video pops up on Instagram, with a friendly young man who briefly talks about his job and counts the benefits of an education. Spontaneously the two young people talk about this job, the employer and maybe you send your application.

Through social, they can reach extremely accurate target groups, with exact interests and of course geographical characteristics. Whether you are a nationwide chain of tyres and car parts looking for new sales staff or a fashion chain looking for dedicated staff for its downtown stores, Scherz can reach the right people with a joke. It gets even better, for example they can specify that they only want to apply to people within a 20 km radius of Berlin, they must be between 16 and 21 years old and have indicated that they do not have a job or are at school or students. This means that they exclude an extremely large number of people and, of course, avoid unnecessary costs for media advertising.

It is important to emotionalize the video, which tells and shows everything important in a very short time of 15 to 30 seconds. It is important to keep in mind that font must be set on the video, because on smartphones most videos start silently. This must be taken into account when designing such personnel recruitment videos. The second step, a real employee who tells and reports in a friendly way. Roller, the perfect video with your employee as an advocate.

Average reaction time influences the evaluation

The average response time has influence not only on prospects and buyers but also on the algorithm of social networks and search engines. Platforms want to show their users the best offers so that they are satisfied and ideally also come a second time. If we constantly find offers in the search results of our favorite search engine, in which products are not available or from which no support staff responds, we will also change this offer sooner or later. Search engine operators and social media platforms therefore ensure that you position the offers at the top that guarantee the user the highest level of satisfaction. The faster and more consistently they react, the higher you rise in the ratings.

Interaction and reaction time – Response Types

Let’Let’s take a look at some of the different types of news and direct messages that reach us on online portals and especially social media platforms. One of the most important questions to ask is.

Questions on rating portals

As simple as it sounds but many companies do not take questions seriously. Google, for example, sets up a rating option for almost every company.

Also in our everyday practice we had companies that saw for the first time that they had a 1 star rating. But why is that? If companies don’t respect your digital reputation, there are places where opinions can act freely. For example, if you don’t google yourself and don’t see that you have two 1 star ratings from rejected applicants, you will never find them. All other users who google their company will only see that they have an absolutely miserable rating. This effect is likely to cost them many customers without them ever noticing it.

Therefore, make sure that you regularly check the most important portals for your market. You should also take a regular look at the social media sites you have created. In addition to evaluations, many users ask questions, questions about products or the company, and sometimes just about whether they currently have an apprenticeship to offer. Whoever responds to these questions wins points in reaction time. The interaction with the users also increases and also other people can read through this information, which saves you and your staff time. They also rise in the favor of search engines.h engines and social networks because they enter their fans and interested parties on the questions. So they strengthen their community every day.

In summary, the most important points for you as a company are the answers to your questions:

Customer feedback and opinions

Caution Shitstorm! Customer feedback and opinions about the company can quickly go below the belt. Because in the Internet anonymity prevailed and already the smallest point can be sufficient, so that someone feels stepped on the feet. An absolute classic is the rejected application. Someone was found not to be good and therefore he is now directly negative about the company.

You should not respond to every comment, but you should also try to respond to negative criticism. To put them into perspective and also to give an answer to others who will read this question because they will not be able to remove it from the network. In the past, in today’s press, freshness was granted tomorrow, an old English proverb. Today negative press remains, they should therefore always worry as a company about it, if there are criticisms, but also evaluations.

Only if comments and statements are extremely below the belt should you refrain from answering them. The extent to which you determine your degree yourself is up to your company. For a real estate agent, different guidelines apply than for a lifestyle bar in the city centre.

Star ratings

One of the most important points, which we have to address again very briefly and explicitly, are star ratings. Star ratings as well as questions on rating portals are ignored by many companies. It is so easy to persuade satisfied customers to make a positive statement. You just don’t do it! We all know each other from everyday life, we like to complain about things. Things that just work, we don’t even notice. And the simplest example is probably our health, how often do we thank ourselves for being healthy?

Exactly the same questions we ask ourselves when it comes to digital reputation. Can’t we encourage our satisfied users or our happy customers to give us a positive rating on Google or Facebook? It’s a lot easier than you think! Therefore, use the star ratings to signal to all interested parties already in the first search that they are a company I would like to be with or from which I would like to buy something.

Social Media Messages

Last come social media messages. Many people tend to neglect their social media channels, postings come once a month, information is hardly ever updated. Messages? They’re never read, of course. But that’s what you should do! Responding to direct messages also increases their rating within social networks and internal search engines, since the platform operator knows that they react as a company. Mostly in contrast to the majority of competitors. This gives you valuable advantages and positioning.

Reaction time – Tips for optimizing your channel

• The average reaction time of a company is significant, because if a customer does not get any feedback, he jumps off and switches to the competition
• You should also answer direct messages on social media or Google ratings
• Many companies have 1 star ratings on Google, these can not be deleted, just balance
• Also bad reviews and criticism should be answered, but be careful with news that goes below the belt
• Tip: happy customers ask for a rating on Google