Please answer Q1,2 if you can as soon as possible :(
(1) How the founders sensed an opportunity and came up with their spirited start-up idea. (2) How they seized the opportunity by developing an amazing picture book that became an international business seller. (3) How they transformed the opportunity and built a successful international entrepreneurial venture. Sensing the opportunity The idea for Little Boy/Girl Who Lost His/Her Name came from Asi Sharabi, who was underwhelmed by a book which his 3-year old daughter received as a gift. "At first I got the warm, fuzzy feeling of seeing my daughter's name on some of the pages. But it lasted exactly one second" (Platts, 2017). He thought that the book and others in the market were "too gimmicky and commercial". The authors just slapped a child's name in the photo book without incorporating serious and exciting content. According to Sharabi, "these books were not written by serious authors, the photos were not created by great illustrators, and there simply was no leveraging of technology" (Platts, 2017). "A proper, well-conceived and beautifully written and illustrated book just did not exist in the market - it was dominated by tacky, inferior products, so we decided to do something about it", said Sharabi (Platts, 2017). Sharabi thought that he could do better by improving the creative and technological aspects of the book. To this end, he called several of his friends consisting of creative writer David Cadji-Newby, illustrator Pedro Serapicos, and technologist Tal Oron, and the four of them set out to develop a personalized book that was superior to what was available in the market ("Meet the Founders of Lost My Name 2016). The four friends were known as "dadpreneurs, as there were three dads and an uncle in the group (Dredge, 2014). To test their idea, the friends started a pilot project. Cadji-Newby wrote the stories. Once that was underway, Pedro started drawing. The technical part which Sharabi and Oron worked on came afterwards and took the longest time. As the founders noted, "the process happened fairly slowly which required a huge time commitment. We knew we had success on our hands after our first (sales in Christmas 2013 and that gave us the courage to leave our full-time jobs in March 2014 ("Meet the Founders of Lost My Name 2016). Seizing the opportunity And so the Little Boy/Girl Who Lost His/Her Name picture book was born. The child's personal experience in finding his name is unique and filled with excitement and adventure throughout the journey. The child meets different characters during his journey who gives the child the first letter of their own name to help the child find theirs. The company's mission is to make stories that'll blow kids socks off while still doing crazy things with technology" (Cowdrey, 2017). What's magical about the book is how it resonates with the child and captures her attention. Among others, the book helps the child discover her identity while learning about many things: words, animals, fun creatures and so on. It creates a heart-popping moment of discovery with the child that the book "is about me. Additionally, it makes the parent (or reader) a master story teller and each can add their personal message to the child that lives with the child for a lifetime (https://www. wonderbly.com/) From the start, the founders described their venture as a "full stack" technology start-up rather than a book publisher. The company creates the stories and illustrations in-house and develops its own technology to customize the book (Dredge, 2014; Serapio, forthcoming). The company exists online and only on its own website. All books are print to order. Lady luck smiled on the company when the founders pitched on "Dragon's Den", a popular programme for entrepreneurs in the United Kingdom. The founders' decision to pitch in "Dragon's Den" was simply for exposure and investment. According to them Word of mouth was already working wonders for us and we wanted to attract investors that could add value to (our company) beyond their funding -- Being on Dragon's Den was, from a business standpoint, a perfect way to place our vision in front of the right people - not just the dragons, but the viewing public, some of whom were press and others who were likely to be interested in the product (Ramesh, 2015). The founders quickly won over the assembled dragons who served as potential judges and investors. One top dragon in particular, Piers Linney, owner of Outsourcery, an IT and communications firm, invested 100,000 for a 4 per cent equity in the company. The founders pitch was that the company combined "the power of traditional storytelling with the possibilities of innovative technology which resonated well with Linney (Ramesh, 2015). Dragon's Den gave Little Boy/Girl Who Lost His Her Name tremendous exposure, and 60,000 people flocked to the company's website in 24 hours. This was followed by lot of word of mouth endorsements from customers and fans that gave the company even wider recognition beyond the United Kingdom (Serapio, forthcoming) Since the company launched the book and sold 22,000 copies in the very first month, sales have not looked back. As noted previously, sales grew exponentially to more than 2,5 million books in over 130 countries. Following its appearance in Dragon Den the company was reported to have attracted investment offers from other ventures, including Google Ventures Greycroft Partner Chemni Group and Allen & Company (Serapio. forthcoming: Neely, 2017