- Why do entrepreneurs get in trouble with the law?
- Entrepreneurs must deal with many legal issues that can get them in trouble with the law. However, two of the most annoying legal roadblocks that will most likely lead to encounters with the law are: hiring proper lawyers and the neglect of NDAs. If you have a lawyer well versed in entrepreneurship, they will provide you with legal counsel and guidance for problems that could arise in your company. Non-disclosure agreements are contracts that protect industry data and more. If someone breaks an NDA’s terms, they may be subject to lawsuits, financial penalties, and even criminal penalties. If entrepreneurs cannot obtain these two, they will have difficulty dealing with the law and legal problems.
- What does psychology have to do with marketing?
- In the marketing world, entrepreneurs will adapt psychology to their practices. To optimize for better marketing, entrepreneurs need a solid understanding of the what, how, and whys of consumer mindsets. Psychological marketing targets those end consumers’ questions and applies to letting people understand why they should purchase a product or pay attention to information.
- What types of marketing sway my decisions?
- The marketing business has 4Ps: Product, Price, Place, and Promotion. Entrepreneurs will embrace these 4Ps and adapt to their consumer’s demands or marketing practices. The practice that I think sways my decisions the most is Pricing. Most consumers will always look at competing companies that sell similar products. While the product, place, and even promotion can be the same between the companies, I will always focus on price first as a decision-maker. Take gas, for example; if a 7-11 near me raises its gas prices, but the Sunoco next to it has a lower price, I will get gas from the Sunoco until their prices rise.
- How can I pitch ideas better?
- Pitches are short presentations that are compelling answers to common questions asked about a business. Pitches are the first impression that most people will judge about your business. Because of this, some steps exist to make a better pitch idea; these steps are:
- Identify the problem that your pitch will fix.
- Explain the unique benefits of your pitch.
- Introduce your pitch via a pitch deck or demonstration.
- Use points, examples, and evidence of success that prove the pitch’s point.
- Be calm and have a stage presence.
- Close out with a clear call to action.
- Pitches are short presentations that are compelling answers to common questions asked about a business. Pitches are the first impression that most people will judge about your business. Because of this, some steps exist to make a better pitch idea; these steps are:
- What are my strengths and weaknesses in pitching?
- Strengths: If going off the necessary steps of pitching, I can definitely make a compelling pitch that settles a problem. Coming up with creative solutions is a more common act for problem-solving. I can plan out these pitches for a good while and come up with something interesting.
- Weaknesses: Despite my creative mind, I have a problem with public presentations. I am not the best speaker at times and have a lot of stage anxiety when presenting something by myself.