Insight Into Entrepreneural Failure

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TITLE: INSIGHT INTO THE ENTREPRENEURAL FAILURE
CASE STUDY: DREAM DEFERRED: THE STORY OF A HIGH-TECH ENTREPRENEUR IN A LOW-TECH WORLD.

Table of Content
1.Cover /Title Page………………………………………………………………………………………….Page 1 2.Table of Content/ List of Exhibits …………………………………………………………………….Page 1 3.Executive Summary………………………………………………………………………………………….Page 1 4.Introduction……………………………………………………………………………………………………..Page 2 5.Main Report……………………………………………………………………………………………………..Page 2 6.Conclusions……………………………………………………………………………………………………..Page 6 7.References/Bibliography………………………………………………………………………………Page 7

Executive Summary

Roy Ash once said “An entrepreneur tends to bite off a little more than he can chew hoping he’ll quickly learn how to chew it.” I will add to the quote “…after learning from his failures”.

As much as failure should not be glorified, failure being an essential part of success cannot be over emphasized. Every seasoned and experienced entrepreneur always has their failure stories which eventually sprouted them into success. A profound high-tech entrepreneur is Maddy Monique (who bit off a little more than she can chew hoping she’ll quickly learn how to chew it). She “was the founder and CEO of Adesemi Communications International, a company launched in 1993 to bring information technologies to lower- and middle-income people in emerging market countries” and began same in Tanzania. The Adesemi Story was a devastating story of failure, considering the time (over 6 years), money (over $15million), and all resources that had been invested in the company.

This paper focuses on the “Adesemi Failure”. Adesemi failed for lack of experience, impatience of the two quasi-governments who wanted to recoup their investment immediately, in experienced and incompetent local partners, cultural misunderstandings among the diverse workforce and finally total underestimation of the local government parastertals responsible for licensing and approvals.

The country and market conditions of the telecommunications industry in Tanzania and in Africa at large played a significant role in the fall of Adesemi. The Government and regulatory agency bureaucracy in an emerging market like Tanzania played a significant role in the company’s pitfall, especially the phone company’s (TTCL) refusal to pay commission to the company, which was the industry standard/norm anywhere in the world, to pay commission. Just before Adesemi liquidated it was accessed that over $15 million dollars was raised and the better part of the money was gotten from Social Capitalist Network, which goes without saying- the importance of Social Venture Capitalist Network in Entrepreneurship growth and successes! Maddy Monique no doubt has a lot she has learnt from and evident in her write up – our case study reference, which includes but not limited to Choosing the right investors, an experienced and capable local content partner, understanding and studying government regulatory bodies and their licensing rule and requirements of the affecting industry.

Introduction

“Making your mark on the world is hard. If it were easy, everybody would do it. But it's not. It takes patience, it takes commitment, and it comes with plenty of failure along the way. The real test is not whether you avoid this failure, because you won't. It's whether you let it harden or shame you into inaction, or whether you learn from it; whether you choose to persevere”. Barak Obama.

Failure is an essential part of success. The Monique Maddy entrepreneurial failure to lunch the new innovation in Tanzania is a classic failure story which is worth analyzing, so entrepreneurs can learn from the failures and not fall into the same situation. The company started by Maddy Monique called Adesemi birthed an innovation which has been recorded as the “world's first fully integrated wireless "virtual" phone network, a service consisting of public payphones,...
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