How do I write a successful speculative application?

A speculative application (Blindbewerbung) targets companies without a current job posting. The success rate is lower than for advertised positions — but there is no competition at all. BA statistics: a significant portion of all positions in Germany are not publicly advertised. LinkedIn Economic Graph: companies that are currently growing or restructuring often have hidden demand. Success formula: (1) Research whether the company is currently relevant for you (growth phase, new projects). (2) Address a specific person (LinkedIn research). (3) Clear offer: 'I can solve problem X for you because...'. (4) Keep it short: maximum 3 paragraphs. (5) Specific request: 'May I ask for 20 minutes of your time for a brief conversation?'