Why is Joshi at a critical juncture in the development of his venture?

Read this real case: ‘Trint Me: Perseverance a Friend or Enemy’ (posted on Canvas: look in ‘Lecture 24 Resources’ in ‘Modules’) and post short answers ( no more than 6-8 lines altogether)
 

1. Why is Joshi at a critical juncture in the development of his venture?

2. Should Joshi decide to persist, what course of action should he pursue to ensure survival of his venture? Why? Evaluate at least one internal strategy (discuss its pros and cons), and at least one external growth strategy (discuss its pros and cons) to justify your answer.