The entrepreneurship is still not well defined. We can say it consists of 3 main components: innovativeness, risk-taking, and pro-activeness. I would like to introduce two successful entrepreneurs Donald Trump & Robert Kiyosaki and their point of view on the topic.
First case I would like to describe is an online auction and a shopping website allegro.pl. It was created in 1999. We could say it was patterned after worldwide Ebay. Although Ebay was available on polish market, it wasn’t popular enough. This created an opportunity which was well taken by two open-minded entrepreneurs Arjan Bakker and Tomasz Dudziak.
They started their business in a small basement. As there was no other website like that, they were able to develop the network of clients. More customers meant the greater range of goods that can be bought there. That led to a competitive advantage. No fees at the beginning of existence and low costs of delivery made allegro.pl competitive to Ebay in UK or US.
The second case is an hypertonic drink called ‘Tiger’. It was brought to the market in 2003 by Foodcare Sp. z o.o. At that time ‘Redbull’ was already a quite recognisable brand. However, the entrepreneurs noticed that its price was high considering average incomes in Poland. Setting price of Tiger slightly higher than its marginal cost allowed to create a competitive advantage and to catch a significant market share. Its price, three or four times lower than the price of the main competitor, attracted also the big group of students that started to use the energy drink as a substitution of coffee.
I love to hear business success stories especially, Polish ones as I am a patriot! Please share the stories you know, maybe it is your own story