[BOOK REVIEW] Failed? Double down and try again – that’s how you win!
Every week The Money Show’s Bruce Whitfield interviews the author or reviewer of a new or trending business book.
This week Whitfield interviewed Mike Quinn, author of “Failing to Win: Hard-earned lessons from a purpose-driven start-up” (scroll up to listen).
We were one of the very first fintech businesses on the Continent… At the time, people had cellphones but it was entirely a cash economy, there was no mobile money and the majority of the population was unbanked…Mike Quinn, author - Failing to Win: Hard-earned lessons from a purpose-driven start-up
The business was originally founded by two Zambian-born South African brothers… Over 10 years we raised $35 million… For the first three or four years, finding money was very difficult…Mike Quinn, author - Failing to Win: Hard-earned lessons from a purpose-driven start-up
It always felt that we were on the leading edge… being a pioneer is hard… How do we find entrepreneurs who are purpose-driven, and can build scalable businesses that can help a lot of people… and also make money… created a vision of a cashless Africa… Gradually, bit by bit, we scaled up…Mike Quinn, author - Failing to Win: Hard-earned lessons from a purpose-driven start-up
I had an empty toolbox when I started my entrepreneurial journey… You need the innate ability to take a lot of risks, and to fail repeatedly… All of the success we achieved was preceded by a long string of failures… You fail and fail and fail and fail until you figure it out…Mike Quinn, author - Failing to Win: Hard-earned lessons from a purpose-driven start-up
Failure can be a superpower if it's harnessed and embraced. You have to separate being a failure from failing…Mike Quinn, author - Failing to Win: Hard-earned lessons from a purpose-driven start-up delete
Description by Amazon:
In 2009, Canadian entrepreneur Mike Quinn packed his backpack and moved to Lusaka, Zambia on a mission to find African entrepreneurs building scalable, high-impact businesses.
There he stumbled across two South African brothers who had founded a business to help unbanked smallholder farmers receive mobile payments in a market where cash was king.
After convincing his retired parents to mortgage their house and lend him $100 000, Mike joined as a co-founder of Zoona and became CEO for nine of the next ten years.
With his partners, Mike built a network of more than 3000 entrepreneur agents across Zambia and Malawi that enabled millions of unbanked consumers to send and receive $2.5 billion in money transfers and remittances.
Headquartered in Cape Town, South Africa, Zoona raised over $35 million of venture investment and operated on the leading edge of Africa’s emerging fintech ecosystem.
Mike’s remarkable story gives a rare and honest glimpse into the workings of a pioneering African start-up through the lens of a purpose-driven entrepreneur who went “all in”.
Zoona faced tremendous adversity along the way: currency crises, investment round collapses, ruthless pushback from the major mobile network operators, and a continuous internal struggle to discover and execute a growth strategy that matched the company’s billion-dollar ambition.
It was by failing to win that Mike learned what entrepreneurship is all about, and it was what motivated him to double down and try again.
Source : https://www.123rf.com/photo_99717930_keep-trying-message-on-paper-smart-phone-and-coffee-on-table-3d-rendering.html?vti=m2d0xcriwye6rg7ckk-1-26