Midterm Case—Ajay Bam
From an entrepreneurial standpoint Ajay Bam seemed to have had everything going for. He came from a supportive family that encouraged him to be independent and a critical thinker. He had traveled the world and understood how people from different places lived and how in comparison he was very fortunate to have what he had. He was also well educated and was already in a successful career; however, he still wanted more. He was driven and passionate and knew that he wanted to create something new from the ground up and be in business for himself. So he too upon himself not only to go back to school to pursue his MBA in Entrepreneurialism, but to put his current professional career on hold so he go after it at the most respected school in the country for that program.
Eager to learn beyond the classroom, Ajay took a four-month international management internship for a startup company in Germany. Here he was given the opportunity to sit on board meetings and started to build a relationship with the COO whom encouraged Ajay to take travel weekends. It was during one of these outings that Ajay saw an opportunity and made a decision to pursue this once he got back to the states.
Once back in school Ajay’s opportunistic idea started to take shape during a meeting with fellow MBA student Walter Stock, his future partner, while they were discussing mobile applications and loyalty cards. The conversation started gravitating toward how mobile applications could be used to eliminate the hassle for people to carry all of those, thus identifying a solution to a need – as such, the vision was born. Know that they had a vision they began to develop a business model and started gathering a firm understanding of the challenge they would be facing. The ambitious duo had no illusions about the undertaking there were getting involved in