Why do entrepreneurs get in trouble with the law?

Entrepreneurs are required to follow the regulations based on their type of business to meet the specific requirements in that industry. A violation of business regulations will result in legal consequences for the business. Entrepreneurs often need to comply with business registration, taxation regulations, employment laws, health and safety regulations, environmental regulations, licensing and permits, consumer protection laws, and intellectual property rights. Businesses should conduct their operations ethically and be aware of the laws in order to avoid the risk of getting into legal trouble.

What does psychology have to do with marketing?

Marketing attempts to change behavior to try to get people to buy their service or product. It connects to psychology because psychologists are good about changing behavior for humans. Psychology is a scientific study of the human mind and behavior. It seeks why an individual thinks, feel, and behave the way that they do. Psychology helps marketers study how their consumers think, feel, and behave when making purchasing decisions. Marketers will approach their consumers by connecting with them through psychology in order to make a better influence with them. This will help with business growth because they can create a service or a product that connects with their consumers needs and wants.

What types of marketing sway my decisions?

There are several ways that marketing sway my decisions. I am a people person and I like to relate to society. Emotional marketing is one way that can sway my decisions. When a certain product connects with me by providing position emotions such as excitement or nostalgia, it impacts my decision making even though I may not need this product right away, it brings happiness and I end up buying it. Another way that I am swayed is scarcity. The word “limited edition” influences my decision making because I do not want to miss out on having an exclusive offer. An example of this is when I buy concert tickets that have limited seating or shoes that have a collaboration with a popular artist is on sale with limited availability.

How can I pitch ideas better?

I can pitch my ideas better by constantly practicing my speaking and delivery. The more I practice my pitch, the less nervous I will be when presenting. Before pitching my idea, I should research the background of the audience that I am presenting to in order to understand their needs and interests. One feedback that I learned when I presented at work is to be precise and concise. Focusing on the goal of my pitch and use simple language to explain my idea so I do not get lost in my thoughts. Using visual aids to assist me on my pitch is also going to help me pitch better such as using PowerPoints because it keeps me organized and I have an idea what to say next in my pitch.

What are my strengths and weaknesses in pitching?

One of my strengths in pitching is being creative with my visual aids. I create visual aids that captures the attention of my audience and I can also add humor to shaken up the tension during my pitch. Being straight to the point and concise is also my strength because I do not want my point to get lost and have my pitch set before any interruptions or questions are asked. My weakness in pitching however is letting my emotions come before me. I do get nervous and my voice may become shaky. When I share something personal as well to connect to my presentation interrupts my focus. I need to work on anticipating questions and concern on my presentation as well so that I can engage with my audience.