Monday, October 21, 2019
Ajay Bam Case Study Essay Essay Example
Ajay Bam Case Study Essay Essay Example Ajay Bam Case Study Essay Essay Ajay Bam Case Study Essay Essay Ajay Bam is the occupant of Pune. India. He possesses a BachelorÃ¢â¬â¢s grade in Computer Engineering and a MasterÃ¢â¬â¢s grade in Software Engineering. Having an technology background. Ajay is originative and has a will to alter the universe with his technological thoughts. Entrepreneurial Attributes of Ajay Ajay Bam is a strong individual with a will to finish his dreams. He possesses the undermentioned properties: MugwumpAdvanced mindPassionate about his workHas a thirst for larningDoes non works for moneyConvertingDonÃ¢â¬â¢t give up easyLoves to run into new peopleAmong the above list of properties that Ajay possess. his three most of import properties are his passion for his work. his advanced thought and his will of non giving up easy. Advanced Thinker: Ajay Bam has the capableness to do a alteration in the bing system with his new thoughts. With his advanced ideas he came up with an thought of doing a Mobile payment and Loyalty plan. His advanced ideas will convey him success in the hereafter as he has the possible to believe beyond what others can believe. Passionate about his work: His true dedication and committedness to do his dream come true. is reflected in his attempts. To do Ã¢â¬Å"VayusaÃ¢â¬ a success. he has left no rocks unturned. With this attitude towards his unde rtaking he will decidedly be the first to do the Mobile payment and Loyalty plans. DonÃ¢â¬â¢t give up easy: In malice of so many barriers in his manner. the most effectual 1. the money barrier. he didnÃ¢â¬â¢t give up. He lost his friends in the incident of 9-11 ; still he continued to work to do his dream come true. Failures come in the manner of everyone. but to win. it is really indispensable non to give up the hopes. Bootstrapping ApproachA bootstrapping attack is an attack for an cyberspace based concern with minimal resources available. Ajay followed this method to get down his concern because he didnÃ¢â¬â¢t have much money to finance his concern. He made each and every attempt to acquire his work done with minimal money investing. He even tried to set up financess for his undertaking through converting funding organisations and doing them invest in their undertaking. AjayÃ¢â¬â¢s attempts His first attempt was to convert the lawyer John Hession for his services. As Ajay was short of money. he had to take a legal instruction to cut down the work of his lawyer and this saved him 1000s of dollars. Second. he had to construct a paradigm of Vayusa. to convert merchandisers. For this he needed finance. therefore he convinced National Collegiate Investors and Innovators Alliance ( NCIIA ) for grants in his undertaking. For this he brought in the 3rd spouse Troy Chen. When he started running abruptly of hard currency. he applied for the lodging manager at The Olin Engineering School and started working for 18 hours a twenty-four hours. Ajay convinced a point-of-sale payment company. VeriFone for a meeting with him by naming them every twenty-four hours and so gave them an executive summery for his merchandise. Even after the calamity of 9-11. and losing 6 of his friends. Ajay decided to go to the West Wireless Conference in California with which he was able to run into Nick E pperson. a former head selling officer at VeriFone and the main proficient designer who had designed the VeriFone box. Ajay presented his Vayusa program at SeaPoint Ventures and unafraid committednesss for a first unit of ammunition of venture support. Opportunity to make VayusaWhen in his 2nd semester of MBA. Ajay went to Munich. Germany for his four month international direction internship ; he noticed that people have fancy phones and are really fond of holding more than one phone. He so decided that nomadic applications were traveling to be the following large things in the United States. Then one twenty-four hours. after returning to US. Ajay and fellow MBA Walter Stock were run intoing at Starbucks to brainstorm consumer applications for nomadic engineering. Then their treatment towards the fuss of java cards. stroked the chance in their heads. Market Assessment The Market Assessment done by Ajay consists of the undermentioned points: Merchants spend important dollars on payment fees and 1000000s of dollars to pull off trueness plans which are non low-cost by little and mid size concerns. Merchants are hence looking for a new and cost effectual client relationship offerings and services through nomadic phones which are secure and safe. Merchants need trueness offerings for clients that include SMS-based vouchers. publicities. presentments. and digital tickets to drive clients to the shops and offer better client and merchandise services. Consumers have to transport a batch of trueness cards for their purchases. They have to take attention of their cards and losing any will take to lose in wagess. Consumers therefore need convenience in pull offing their payment grosss and trueness plans supplying entree to all the information at anytime from anyplace. Fundss and Business TeamTo acquire the support beginning interested. foremost Ajay applied for grants in NCIIA to construct the paradigm and added Troy Chen as the 3rd spouse. He so convinced a point-of-sale payment company. VeriFone and had an chance to run into Nick Epperson and convinced him as adviser. Ajay so presented his Vayusa to TomÃ¢â¬â¢s three general spouses at SeePoint Ventures and explained them that Vayusa needs to raise $ 2 million in the first twelvemonth to back up the beta development and execution. and to engage senior direction. Vayusa would so necessitate another $ 5 million in support to make a positive cash-flow place in 3rd twelvemonth. The spouses were convinced to put. By January of 2002. Vayusa had a working paradigm to back up a elaborate concern program. and a board of advisers that included. in add-on to Tom from SeaPoint Ventures and Nick from VeriFone. a former Chief executive officer of NYNEX. a former Chief executive officer of Citibank. and Bob Anderson. manager of the MIT Enterprise Forum and former CEO of GenRad. Ajay besides decided to take Rahul to construct package platform whom he had met through an organisation of Southeast Asiatic enterprisers. Ajay applied for a follow on NCIIA grant. Then Ajay scheduled a meeting with Jack Weston which was from a recognition card industry and had late joined a startup that was constructing applications to hive away vouchers on charge cards and he joined Vayusa two months subsequently than. as an adviser. But so Tim Patel. the package interior decorator left the squad. A new member Phuc Truong joined Vayusa as he had strong contacts with a batch of merchandisers.