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[BOOK REVIEW] Failed? Double down and try again – that’s how you win!

13 September 2021 7:53 PM
Tags:
Entrepreneurship
The Money Show
Bruce Whitfield
small business
business books
book reviews
failure
business book reviews
Fintech
Failing to Win
Failing to Win: Hard-earned lessons from a purpose-driven start-up
Mike Quinn

Bruce Whitfield interviews Mike Quinn, author of "Failing to Win: Hard-earned lessons from a purpose-driven start-up".

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).

Try again. © krung99/123rf.com

Click here for all our business book reviews in one place.


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.


This article first appeared on CapeTalk : [BOOK REVIEW] Failed? Double down and try again – that’s how you win!




13 September 2021 7:53 PM
Tags:
Entrepreneurship
The Money Show
Bruce Whitfield
small business
business books
book reviews
failure
business book reviews
Fintech
Failing to Win
Failing to Win: Hard-earned lessons from a purpose-driven start-up
Mike Quinn

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