1.    Why do entrepreneurs get in trouble with the law?

Entrepreneurs may get in trouble with the law when they unwillingly or willingly break the law or a consumer sues them. For example, a consumer may sue a company over misleading claims by the company in their advertisements. Another example is when entrepreneurs replicate someone’s invention without the original inventor’s consent or are involved in tax fraud.

2.    What does psychology have to do with marketing?

Psychology helps us understand human behavior. We need to understand their behavior to convince people to buy a product. For instance, psychology shows that humans are not typically rational decision-makers. Their decisions are influenced by how the information is presented, which is the framing concept from the ‘Prospect Theory.’

3.    What types of marketing sway my decisions?

As a human being, I can change my decision according to how a message is presented. It is more likely that I will be willing to buy something if I am told the advantages of the thing than if I am told its disadvantages.

4.     How can I pitch ideas better?

Several things can make me pitch ideas better. I can pitch an idea better by including essential information: a solution to a problem, explaining how the answer works, proving there is traction, and showing expertise. I can also do better by using Guy Kawasaki’s 10/20/30 rule. By utilizing this rule, I should use a maximum of 10 slides for my presentation, 20 minutes, and a font of 30 points.

5.     What are my strengths and weaknesses in pitching?

My strength in pitching is that I am a storyteller. I can engage my audience, draw attention, and make my pitch memorable by telling a story. But I need to improve my speaking English.