[guided]The purpose of this step is to make the given norm on $V$ comparable to a coordinate norm. This comparison is what lets us pass back and forth between Cauchy behavior in $V$ and Cauchy behavior of scalar coordinate sequences.
First define the constant
\begin{align*}
M=\sum_{i=1}^{n}\|e_i\|_V.
\end{align*}
Since every basis vector $e_i$ is nonzero and norms vanish only at the zero vector, each $\|e_i\|_V$ is positive, hence $M>0$. For an arbitrary coordinate vector $a=(a_1,\dots,a_n)\in\mathbb{F}^n$, the triangle inequality and homogeneity of the norm give
\begin{align*}
\|\Phi(a)\|_V=\left\|\sum_{i=1}^{n}a_i e_i\right\|_V\le \sum_{i=1}^{n}\|a_i e_i\|_V=\sum_{i=1}^{n}|a_i|\|e_i\|_V.
\end{align*}
Because $|a_i|\le \|a\|_\infty$ for each index $i$, this becomes
\begin{align*}
\|\Phi(a)\|_V\le \sum_{i=1}^{n}\|a\|_\infty\|e_i\|_V=M\|a\|_\infty.
\end{align*}
The lower bound is subtler because the triangle inequality does not directly give a reverse inequality. We use compactness of the coordinate unit sphere. Let
\begin{align*}
S=\{a\in\mathbb{F}^n:\|a\|_\infty=1\}.
\end{align*}
This set is closed and bounded in the finite-dimensional scalar space $\mathbb{F}^n$. By the [Heine-Borel theorem](/theorems/315) for finite-dimensional real coordinate spaces, applied directly when $\mathbb{F}=\mathbb{R}$ and after the identification $\mathbb{C}^n\cong\mathbb{R}^{2n}$ when $\mathbb{F}=\mathbb{C}$, the set $S$ is compact. Define $f:S\to[0,\infty)$ by
\begin{align*}
f(a)=\|\Phi(a)\|_V.
\end{align*}
The upper estimate just proved implies that $f$ is Lipschitz, since for $a,b\in S$,
\begin{align*}
|f(a)-f(b)|\le \|\Phi(a)-\Phi(b)\|_V=\|\Phi(a-b)\|_V\le M\|a-b\|_\infty.
\end{align*}
Thus $f$ is continuous on the compact set $S$.
Now $f$ has no zero on $S$. Indeed, if $f(a)=0$, then $\|\Phi(a)\|_V=0$, so $\Phi(a)=0$. Since $\Phi$ is injective, this forces $a=0$, contradicting $\|a\|_\infty=1$. Therefore $f(a)>0$ for all $a\in S$. A continuous positive function on a compact set attains a positive minimum, so we may define
\begin{align*}
m=\min_{a\in S} f(a)>0.
\end{align*}
Finally take any $a\in\mathbb{F}^n$. If $a=0$, then both sides of the desired lower estimate are zero. If $a\ne 0$, then the normalized vector $a/\|a\|_\infty$ belongs to $S$. By homogeneity of $\Phi$ and homogeneity of the norm on $V$,
\begin{align*}
\|\Phi(a)\|_V=\|a\|_\infty\left\|\Phi\left(\frac{a}{\|a\|_\infty}\right)\right\|_V.
\end{align*}
The normalized vector lies in $S$, so the last norm is at least $m$. Hence
\begin{align*}
\|\Phi(a)\|_V\ge m\|a\|_\infty.
\end{align*}
Combining the two estimates gives
\begin{align*}
m\|a\|_\infty\le \|\Phi(a)\|_V\le M\|a\|_\infty
\end{align*}
for every $a\in\mathbb{F}^n$.[/guided]