Journal 4

1. Most entrepreneurs have trouble with the law dealing with some form of taxes. Because you work for yourself, all those taxes are going through your business, this means entrepreneurs need to keep track of all it. If they don’t, that’s when the law problems come in. The IRS is going to want to know how much your business made and where you are getting the money from. If they see anything shady, then that’s where law gets heavily involved. 

2. The psychology of marketing has all to do with emotions and feelings to promote a product or service. These promoters try to get your feeling involved in order to get you to buy their products or services.It all relies on how they can get your brain to feel something when you see one of their ads. They use certain colors on items to relay emotions from the brain. Promotional ads have more psychology in them than people think. 

3. The types of marketing that would sway my decisions include framing, diffusion,and the 4 P’s. Framing would persuade me based on positive or negative consequences to the message that is being relayed to me. Diffusion would influence me based on if the community I’m in starts to adopt an innovation , then I would see it more and more likely to invest in the product or service. The 4 P’s highly influenced me as most of my decisions are based on price and place. Some promotion ads are so good that they convince me. Produce is the least influence to me in my opinion.  

4. I can make my pitches better by using the 10-20-30 rule. Guy Kawasaki states that PowerPoint presentations should have no more than 10 slides, lasting nothing more than 20 minutes, and font size should not be smaller than 30 minutes. This plan would get my pitch across in an easier and quicker way. Dragging out your presentations will bore people and they’ll become uninterested. Having a pitch that catches your attention quickly is the best route to go. 

5. My strengths in pitching include maintaining eye contact. It is very important to look at everyone and their eyes and let you know you mean business. I also know proper speaking, I do well with no stuttering or slurring of my words. It is important for people to be able to understand what I am trying to communicate well. My weaknesses include going too fast, I admit I try to get presentations done in less than 5 minutes. The saying goes quality over quantity. Just because I did it fast does not mean it was done well.