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Sara Ferrer launched Zoey Koko in 2017 with the idea of designing bath and body products for young girls and "tweens" (ages 5-12). From the start-up of her venture through the end of 2020, Ferrer had worked as a medical esthetician at a Boston spa as an independent contractor, developing Zoey Koko after work and on the weekends. Ferrer had persevered through a series of setbacks, but not without enduring a lot of stress. After three years of marginal financial performance and zero compensation for her hard work, she had reached a turning point at the end of 2020. Ferrer was unwilling and financially unable to go through another year like 2020. She was committed to deciding by the end of January 2021 whether to continue with Zoey Koko full-time or to wind down her company and pursue a full-time job.

Bob Diamond was a serial entrepreneur with a track record of success in launching new products and new ventures. His latest venture, Xeleum Lighting LLC, founded in 2011, developed and commercialized advanced LED lighting systems. The firm engaged in a variety of approaches for generating revenues: manufacturer's representatives, energy service companies, and Xeleum's own internal sales and marketing processes. In its first eight years, Xeleum had grown its payroll to eighteen employees. The LED lighting industry was rapidly maturing - with global companies dominating the market, such as Samsung and Philips. Though Xeleum remained a relatively small player, it was confident that its products were equal to or better than those of its competitors; its prices were competitive or lower; and its responsiveness to its customers was unexcelled. However, its major competitors possessed far greater sales reach, which -- together with their brand power -- provided them with visibility and marketplace exposure commensurate with their size. In early 2019, Diamond was developing strategies for reviving and accelerating the growth of his firm, while also sustaining Xeleum's track record of superior customer responsiveness - which he viewed as a key source of competitive advantage. He wondered if he would need to rethink Xeleum's financial and business models in order to support his growth objectives. Diamond had been able to self-finance Xeleum's growth during the first eight years with the support of bank financing, but had not yet attempted to attract equity financing. Diamond wondered if that would be necessary or advisable in order to accelerate growth, and if so, how he should proceed. Finally, Diamond was considering whether Xeleum needed to revise its sales and marketing strategy in order to increase lead generation as a precursor to accelerating growth. If so, what should it be and how could Xeleum make it happen?