Recently I learned that it really depends on the market conditions. I had an epiphany moment while witnessing the 'Covid-19 induced' panic buying a couple weeks ago. Everyone in the supermarket was just grabbing whatever was on the shelves without looking at the brands. Eggs and toilet papers of all brands and prices were snatched away by desperate shoppers, every pharmacy was short of masks, a mask now costs three times the price before the panic. And that moment I thought 'there is no place for marketing here when the demand of these products is so great that consumers do not care about the brands, features, and benefits'. Now we are in the 3rd week of lockdown, but we are allowed to go out freely within certain hours and parameters to buy groceries and foods. Essential services are open as usual. There is no shortage of eggs, toilet papers, and masks. I started to notice certain brands of products tend to move faster than the other, masks with better quality...
To me being entrepreneurial, the foremost quality is to be resourceful. Then comes the risk-taking nature and innovative mindset, in this order, respectively. You might think that the first and foremost quality of an entrepreneur is to be innovative. Many people are innovative, in fact, I read somewhere that creative and innovative people are usually the lazy ones, because they are able to think of a faster, perhaps better and easier way to get a job done. Hence the creativity. But the question is how many of these ideas are put into execution. Now if you act on your innovative idea you are already a one in a million to do that (*give yourself a pat on the back). But still, it does not mean you are entrepreneurial. The bigger the idea the bigger the risk, the bigger the risk, the more the resources you need to acquire and manage. Accepting the fact that resources are scarce and knowing how to acquire them, or able to just make-do with passable resources to stil...