- Why do entrepreneurs get in trouble with the law?
Some entrepreneurs get in trouble with the law for numerous reasons. One of the most common reasons for legal issues is not knowing what certifications or licenses new businesses need to have to be considered legal businesses. Remembering to investigate where your business will be and what the state regulations are for your specific business is the best way to ensure the business is legal. Researching which legal form to classify a business under will also help guide an entrepreneur through the legal steps of legitimizing their business. Another reason entrepreneurs get in trouble with the law is not keeping up with changing laws at a state level or federal level. Entrepreneurs should ensure a proper business plan to ensure any legal issues or problems that may occur can be handled in the appropriate ways. - What does psychology have to do with marketing?
Psychology is important to marketing because of the insight into who the target audience is for the innovation and what will persuade this audience to decide to invest in your product. People make decisions from the moment they wake up in the morning until the moment they go to sleep. Marketing has the goal to change your decision or behaviors for you to purchase a certain product. For this marketing to be successful, find out who the target audience is and what are the best ways to get your product’s information out there. The psychology aspect of marketing is considering human behavior and decision-making and the best ways to persuade a group of people to purchase your product. - What types of marketing sway my decisions?
In my own life, marketing sways my decisions every day. I am a sucker for the heartwarming advertisements you see for adopting puppies or donating to a good cause. I am a young woman who enjoys using make-up and products like this. I see how the products look on models or influencers on social media and I make the decisions to buy the product. For example, a new foundation that makes the skin look crystal clear, I want to go out and buy that specific product to get the same crystal-clear skin. This does not always mean I am purchasing a product, but I also have the goals of a certain life I want. When I see successful people talk about the tools, they have used to gain knowledge and guide them to where they are, I feel influenced to investigate the tools and techniques they mention. This type of marketing could be categorized as a type of inspirational marketing to sway my decision that if I use these tools, I also have the potential to gain the knowledge they did and use it to be successful. - How can I pitch Ideas better?
I can pitch ideas better by ensuring I only stick to the main points and not go off on long drawn-out speeches. Ensuring that I engage the audience as well in my pitch is another way to ensure people remember my proposal by using visuals and bringing in. I also really grasped the “less is more” saying mentioned throughout our readings. Giving all the information at one time is not the best way to get the point or idea across, this leads to information overload and my audience not remembering the highlighted points. I also think I can pitch ideas better by practicing them repeatedly until I am confident that I could give this pitch to anyone who asked. - What are my strengths and weaknesses in pitching?
I need to work on a couple of things when it comes to pitching my ideas. I feel like I over-share information or include information that might not be necessary to the point I am trying to make with this pitch. I also tend to talk at a fast pace, so I need to remember to slow down and talk at a normal speed. That way everyone listening can understand me. With those being primarily my weaknesses, I do have some strengths. I have strengths in my ability to put together a strong visual presentation and have all the information necessary for research, but my public speaking is what I need to work on the most.