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…show more content… It was shocking because we had come so far and achieved so much. In fact, at the time of Adesemi’s downfall, we had raised more than $15 million in venture capital and launched the world’s first fully integrated “virtual” phone system – incorporating voice mail, pagers, and hundreds of wireless pay phones – in one of its poorest nations, Tanzania. We had even come close to hitting breakeven, with $2 million in annual revenue, and we were finally on the verge of explosive growth. Those accomplishments, however, weren’t enough to save us”. Why then did Maddy Monique and Adesemi fail, resulting in their inability to lunch a new innovation?
Why Monique Maddy failed
Maddy Monique’s failure to lunch a new innovation in Tanzania was not the entire story. The company had, within a year or 2 of operation, successfully lunched 400 wireless pay phones throughout Dar es Salaam and developed an intricate distribution channel for its phone cards. Response from the public was swift and extremely positive. Almost immediately, the company was processing more than 50,000 calls a day. This was a resounding success. However the problem began when the company decided to capitalize on their first-mover advantage and decided to quickly launch the voice mail services and expand their network across the country.
In my opinion, this failure of expansion was largely due to acquiring funds from the wrong investors, who weren’t patient enough and wanted their return on
