Your biggest failure or mistake in business

[eldavis]

As a business owner or someone with years of experience in the business sector, what was your biggest failure or mistake. For me it was making an investment of over a hundred thousand naira but could not make any profit from it. What's yours?

 

[LoukiaCharilaou]

As a business owner or someone with years of experience in the business sector, what was your biggest failure or mistake. For me it was making an investment of over a hundred thousand naira but could not make any profit from it. What's yours?

I am so sorry to hear about your investment. What kind of investment was it? I do not remember making a big mistake only small ones.

 

[Stardom22]

My biggest mistake to do was that borrowed money from financial institutions to fund my business, what turned out was the business collapsed

 

[eldavis]

I am so sorry to hear about your investment. What kind of investment was it? I do not remember making a big mistake only small ones.

I registered on a networking platform, it was more of a Networking and forex trading platform called IM academy. The mistake i made was rushing into it cause others where making money from it, without having to study how it works.

 

[jetsaints30]

My biggest failure or mistake was not doing enough research before making a major business decision. I had a great idea for a business venture, but I didn't take the time to really understand the market and the potential risks involved. As a result, I ended up investing a lot of money and time into a venture that failed. I learned a valuable lesson from this experience and now I always make sure to do my research before making any major business decisions.

 

[Springtime]

I think my biggest mistake so far was joining a company which was poorly run by a bad boss. He was hot tempered and not a visionary leader. He led the company to the wrong direction and eventually the company went bankrupt and the staff were out of job.

 

[Shavkat]

I never experienced a failure in business yet. Since I just started my online selling business last year. I think it is still feasible to be operational up to this day.

 

[LoukiaCharilaou]

I registered on a networking platform, it was more of a Networking and forex trading platform called IM academy. The mistake i made was rushing into it cause others where making money from it, without having to study how it works.

I understand. So it is better to study first how the system works before investing.

 

[Niyi Briggs]

I think my biggest mistake so far was joining a company which was poorly run by a bad boss. He was hot tempered and not a visionary leader. He led the company to the wrong direction and eventually the company went bankrupt and the staff were out of job.

This same thing was my biggest mistake in business. I was being sentimental with selling price projection without doing a market survey. I got a rude shock of my life and incurred losses.

 

[Sanjeev]

I never owned a business but most people don't do the costing of their product properly before launching it in the market and ultimately go through a financial crisis and have to shut the operations.

 

[flower]

My biggest mistake in the business is taken a wrong decision and it affected every part of my business.

 

[uptrendfinancialsignal]

It is very important to ensure that you do not make costly mistakes by not understanding the risk that is surrounding the business.

 

[Bisolami]

It is very important to ensure that you do not make costly mistakes by not understanding the risk that is surrounding the business.

This is why it is always advisable to always know the gimmicks of the business that you are engaging in

 

[IB D]

One of my biggest mistakes in business was establishing a business that was against the social disposition of the people of that location. They never patronized me and saw me as a threat.

 

[Bisolami]

One of my biggest mistakes in business was establishing a business that was against the social disposition of the people of that location. They never patronized me and saw me as a threat.

Ooh sorry about that
That is why it is very necessary ti make finding about the kind of business that will co on we'll in your location.

 

[IB D]

I never experienced a failure in business yet. Since I just started my online selling business last year. I think it is still feasible to be operational up to this day.

That means you are yet to grow in business. That's because in business, there are many things you have to learn and in the process of learning, you might have to slip and fall.

 

[Bisolami]

That means you are yet to grow in business. That's because in business, there are many things you have to learn and in the process of learning, you might have to slip and fall.

That's true
It is normal to fail and pick up yourself again. The main thing is just to learn and run a business successfully.

 

[Magnus2022]

My worst mistake is choosing a wrong location for my business. I have learnt that the best thing that can happen to every business owner is to choose a wrong place to do business. That single mistake have shattered my plans.

 

[Bisolami]

My worst mistake is choosing a wrong location for my business. I have learnt that the best thing that can happen to every business owner is to choose a wrong place to do business. That single mistake have shattered my plans.

This is the most mistake that people learnt but it is good that it happened to you so that you will know how important location is when it comes to business

 

[Heatman]

As a business owner or someone with years of experience in the business sector, what was your biggest failure or mistake. For me it was making an investment of over a hundred thousand naira but could not make any profit from it. What's yours?

When you invest in a wrong way, you will always come out with making no profit from such investment which is why you are advised to make use of a specialist in the sector where you want to invest if you lack the knowledge in that sector.