Ajay Bam Essay Example | Topics and Well Written Essays - 500 words

Ajay Bam - Essay Example (MacGregor, 2001) He wanted an MBA so he enrolled at Babson. He had a vision to put-up Vayusa so he set out to find people who could help him and sources of funds for his venture. Amazingly, he was able to juggle setting up Vayusa while completing his MBA degree. Lastly, Ajay was enthusiastic about the business he wanted to set-up because he had personal experience of what it was like not to have Vayusa. He knew the convenience it was going to bring to both consumers and merchants. This enthusiasm was a key in acquiring the people and funding he needed. This resulted to his diligence and persistence in meeting people and following-up tasks. A rocket pitch is a 3-minute presentation, usually via 3 Powerpoint slides, of several entrepreneurs’ business plans to a large audience made up of, among others, investors and service providers. (BABSON, 2012) Ajay’s pitch was sound. Vayusa had more than what competitors individually offered. However, a potential investor would have a few concerns such as stability and long-term security against fraud. Indeed, Vayusa may offer more than the other loyalty programs and wireless payment companies. Nevertheless, combining both in a mobile application which is Vayusa is the first of its kind. There is no current measure if this kind of business will be successful. Moreover, in a world where computer hacking is very common, there is no existing proof that the Vayusa system is not â€Å"hackable†. In addition, there is the concern of probable mobile charges in the future for using the Vayusa application. If the business does become successful, consumers will be using their mobile phone services more. Still, given the benefits of Vayusa and the fact that it could be the first successful business of its kind, it would be a good investment. As of now, Ajay has a prototype and a team composed of himself, the driven leader, and experts from companies such as NYNEX, Citibank, GenRed