DayOne Case Study.docx - DayOne Case Study Starting a business venture is a critical encounter experienced by most of the entrepreneurs When setting up

DayOne Case Study.docx - DayOne Case Study Starting a...

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DayOne Case Study Starting a business venture is a critical encounter experienced by most of the entrepreneurs. When setting up a new business opportunity, there are several factors that are considered when starting a business venture. These factors include the opportunity opening, the entrepreneur and his/her team, the resources and the labor. Andrew Zenoff, the developer of the “My Best Friend” which is a popular nursing pillow if a professional entrepreneur. Andrew together with his friend developed “DayOne” business idea. Day One is a “business retail that provides high-end baby tools, parenting programs, a lounge for new mothers, and lactation consultants via membership.” However, building DayOne was not a simple task. The article shall discuss what Andrew along with his team can do to create credibility and security to the capital required in the implementation of the business plan. Also, the article shall discuss the alternatives that could be considered by Andrew when raising funds to move forward. Additionally, in the article, an evaluation for the DayOne business plan and approach of new investor should be executed. Additionally, this paper shall evaluate various concerns and the reasons for investing or not investing in DayOne. Building Credibility and Capital Security The members of the DayOne team can create credibility and enhance their opportunities for security of their capital needed in the implementation of the business plan. Starting a business opportunity is not an explicit thing to do. Instead, there are various significant ingredients that leads to successful opening of new business venture. Primarily, the members should possess the passion and positive attitude of what they are doing. Also, the members ought to be prepared fully through business planning and finally, securing finances is a significant approach of ensuring successful launching of any new business venture. However, securing the capital and
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finances have proven to be a challenge to new business plan implementation. Initially, entrepreneurs offer their personal funds together with the help gained from the family and friends. As the business begins to expand, it demands the expansion of the capital as well. According to Bygrave & Zacharakis (2014), the amount of capital demanded by entrepreneurs to create their ventures rely on the type of the business, the visions of the owner, demographic location of the venture and the country the business is started.
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