To me, when thinking about entrepreneurship, the majority of attention is directed towards the “groundbreaking idea” or how to generate the necessary capital for a new company to flourish. The article linked above provides useful insight by exploring how engaging in brand audits can identify strengths and weaknesses within a company that may either nourish or inhibit success.
I think modern branding is a huge aspect of entrepreneurial societies and economies. With technology advancements it is much harder to build a brand that will stand out. It is very expensive to advertise. It becomes more expensive as consumers become indifferent to ads because at this point they have seen thousands of them. It is also important for brands to not only consider how they will do in the US, but how their rights will be affected internationally. This link is from Entrepreneur India, expanding the difficulties of digital branding as entrepreneurs expand.
https://www.entrepreneur.com/article/253281.