Why do entrepreneurs get in trouble with the law?

One of the most prominent ways an entrepreneur can get into trouble with the law is not choosing the correct legal form to abide by for their particular business. For example, they may choose a legal form that will demand too much money for taxes, leading to the entrepreneur being unable to fund their business. Customers may also sue an entrepreneur’s company for reasons that the entrepreneur did not initially consider or agree with. In essence, entrepreneurs get in trouble with the law because of carelessness and not considering each potential outcome that can occur with their business.

What does psychology have to do with marketing?

Psychology is one of the most important aspects of marketing because essentially, an entrepreneur needs to influence or manipulate how individuals feel toward their product or service. Because of this, an entrepreneur needs to carefully choose how they present their ideas, what arguments they use, what data they provide, and so on in order to influence how people will react to their pitch.

What types of marketing sway my decisions?

In any setting, it is obvious the types of marketing strategies businesses use to entice their customers. One of the main tactics that sway my personal decisions includes price drops. When something I want to buy, such as a video game, is full price, I am much less inclined to buy it. However, once that base price drops 20% or 50%, I will buy it without second thought. Additionally, businesses that use themes (such as those of recent released movies) to promote their product have previously caught my interest as well.

How can I pitch ideas better?

I believe I can pitch ideas better by answering a list of fundamental questions beforehand. For example, explaining what problem my pitch is going to solve, how it is going to work, how the general public is going to respond to the pitch, and prove mine and my team’s reliability. I’ll also ensure my pitch will scale with the audience, both being able to briefly describe it in just a few words while also being able to describe it in immense detail while invoking the same effect.

What are my strengths and weaknesses in pitching?

I believe where my weaknesses lie in pitching is keeping the audience interested, as well as conveying my idea through speech. In previous presentations, although they were not under the topic of entrepreneurship, I struggled to properly engage the audience because I failed take into account what they might be looking for. However, my strengths lie in researching about an idea. While I may struggle to properly share the ideas I may have, I can provide a wide variety of facts about the idea and compare my idea to previous ideas, highlighting their differences and why my idea is unique and worth consideration.