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What Is Your Worst Business Investment And How Much Did You Lose? - Business (23) - Nairaland

Nairaland Forum / Nairaland / General / Business / What Is Your Worst Business Investment And How Much Did You Lose? (41921 Views)

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Re: What Is Your Worst Business Investment And How Much Did You Lose? by nwaobitex: 3:09pm On Nov 25
Purplekush:
as a 28 yr old who was fresh out of service. I started online buisness with my blog and was raking in 250 to 300k plus per month. after like 3 months the income rose to 1mil plus and even 2.some in some months.

Then I started trying out new investments...

LONG STORY SHORT: lost 800k to MMM. By Feb when MMM was confirmed to have crashed, I went ahead to lose another 1 Million naira and 6 months trying to set up another online business.

The painful part was not the 6 months of no income but the bad timing.

because, I had already paid for some plots of land before then. Paid for my new apartment. Was about making down payment for a new Corolla 2015 model when MMM crashed... and the investment started acting funny.

I was TOTALLY SCREWED!

I come lose lappy wey I buy 250k then Acer V Nitro. I was so depressed the only thing that kept me from SUICIDE was MaryJane. I owe my life to her smiley

But then I was able to cash out around 300k plus on the 1mil investment and I am currently on another HOT NICHE and just 2 months in it i am glad to say I now make at least 9 to 15k a day.

By God's grace and if this one goes well, I should be hitting 7figures per month from next year. INSHA ALLAH! AMEN.

Nothing beats losing money to some yeye deal. It brings out the adrenaline in you.

WORD OF ADVICE TO ALL STARTERS: think Internet business. It's cheap to start and gives you room to make mistakes with less financial loses. Besides, the ROI is totally insane!

I used to have a set of video courses for pple who are always asking "show me the way" but then nobody wants to put in work. Most peeps just want free money.
show me the way sir
Re: What Is Your Worst Business Investment And How Much Did You Lose? by EMMAACHILE(m): 3:41pm On Nov 25
nwaobitex:
show me the way sir
It seems more people want to loose more money.

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 7:01pm On Nov 25
vecman22:


No I didn't.. Came across that thread late at note.and I lost 10k yesterday.. Please add me up
...


I only did dis on Facebook, I just created dis WhatsApp group so everybody can access it,base on ur complains, so u can use did links

https:///HQFaTD08ldx7F7Bvv45Is4
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Funkybabee(f): 8:08pm On Nov 25
!
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Funkybabee(f): 8:08pm On Nov 25
People are just investing in people!! Make u guys come and invest in me ooo.. I wanna start a business
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Olayinka777(m): 8:21pm On Nov 25
Now in a private school doing A for Apple, B for Ball till I get enough capital to venture into another business. God help me[/quote] Lolz! Funniest comment I have read so far.

4 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Bigfellas(m): 7:39am On Nov 26
okoroemeka:
2013 we a bought a tokunbo mack tipper for #4,500,000 to start haulage,3 months the income looked good so we bought another one from america #3,600,000 and 2 months down the going looked good,that when the mistakes started,we bought another one an electric mack vision with balloons #2,800,000 that truck is the devils associate,it consumed the whole money we are making,the parts are costly and mechanics that work it are few, then buhari got elected and the whole show ground to a halt,many contracts stalled,we use to haul granite for setraco to 2nd Niger bridge everything stopped the trucks were idle no work,finally frustrated we sold off the trucks and got a loss of close to #6,000,000 naira.its a bitter lesson since then I have gone back to farming business I know every well.


such a bitter lesson. I'm new into farming business Bro. Lost almost 1.5million as a starter and it's getting me nut. I am not giving up though so can we hook up cos I need more learning especially in the area of marketing. WhatsApp 07037121342. Thanks
Re: What Is Your Worst Business Investment And How Much Did You Lose? by kaikubura: 8:12am On Nov 26
Wow! I read every single word from start to current page. It is quite shocking how hardworking people lose money. One thing for sure is that, through constant learning and not giving up, success is inescapable.

What I indeed noticed was that in doing any business you need to be smart about using all your life savings, no matter how lucrative it seems.

I lost 240k to crypto this year and another 100k to bad debt. I have since moved on.
I will just go back to Fiverr where I provide spreadsheet services (I am an expert in Excel, VBA and PowerBI).

I will advise those online biz enthusiasts in previous comments to freelance with their skills, no initial investment required.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Olayinka777(m): 10:55am On Nov 26
Izabel:
was able to save 50k from a part time ushering job ,
Got robbed of it months back.
Sorry about that darling!

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by bojbest(m): 11:42am On Nov 26
Re: What Is Your Worst Business Investment And How Much Did You Lose? by holysaint1(m): 1:51pm On Nov 26
Olayinka777:
Now in a private school doing A for Apple, B for Ball till I get enough capital to venture into another business. God help me Lolz! Funniest comment I have read so far.

Bro, to me, this is one of the most motivating post i have read in this thread.

It's not how many times we fall.. but the effort we are willing to put in to spring back up from those falls, not minding the situations we find our-self.

Thats the heart of a real (die hard) entrepreneur..


As for the op.. i pray that, in no time, the man above will provide you with the needed fund / resources to get back on your feet.

3 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by overdrive(m): 4:07pm On Nov 26
ibori1:
...


I only did dis on Facebook, I just created dis WhatsApp group so everybody can access it,base on ur complains, so u can use did links

https:///HQFaTD08ldx7F7Bvv45Is4


this link is not working.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Olayinka777(m): 4:44pm On Nov 26
holysaint1:


Bro, to me, this is one of the most motivating post i have read in this thread.

It's not how many times we fall.. but the effort we are willing to put in to spring back up from those falls, not minding the situations we find our-self.

Thats the heart of a real (die hard) entrepreneur..


As for the op.. i pray that, in no time, the man above will provide you with the needed fund / resources to get back on your feet.
U are absolutely right
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Quorax: 5:16pm On Nov 26
Connoisseur:
2014: Lost 4m in fast food business
Feb 2016: Lost 1m in the cashew business.

Sept 2016: Lost $43,500 at the heat of the dollar crisis
I exported containers of garlic through a contact from Nairaland, buyer refused to pay. The containers still sit at the port of Karachi as at this time.

Feb 2018: Lost about 8m in the lead ore business from another guy here on Nairaland. Story for another day.

It might seem like I am careless, maybe I am. I make it as fast as I lose it. As long as my head remains above my shoulders, I will keep moving.
Stumble, rise #keepwalking
for the buyer that refused to pay, didnt you use escrow?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by shiffynaani(m): 5:30pm On Nov 26
kaikubura:
Wow! I read every single word from start to current page. It is quite shocking how hardworking people lose money. One thing for sure is that, through constant learning and not giving up, success is inescapable.

What I indeed noticed was that in doing any business you need to be smart about using all your life savings, no matter how lucrative it seems.

I lost 240k to crypto this year and another 100k to bad debt. I have since moved on.
I will just go back to Fiverr where I provide spreadsheet services (I am an expert in Excel, VBA and PowerBI).

I will advise those online biz enthusiasts in previous comments to freelance with their skills, no initial investment required.
MY BOSS, HOW CAN YOU TEACH ME THIS SERVICE BIKO? I REALLY NEED TO LEARN A SKILL PLS
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Connoisseur(m): 5:31pm On Nov 26
Quorax:
for the buyer that refused to pay, didnt you use escrow?

No escrow
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Quorax: 5:35pm On Nov 26
Connoisseur:


No escrow
Chai... I am eyeing that export business and I am going to find a way to use escrow ooo. No b me village people go send back to village.

So how have u been doing it since there is no escrow? How do you avoid such scenario that can lead to non payment from buyer?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Izabel(f): 5:41pm On Nov 26
Onyejemechimere:


Awe you gave me hope and dashed it sad
Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 7:23pm On Nov 26
overdrive:


this link is not working.
drop ur number
Re: What Is Your Worst Business Investment And How Much Did You Lose? by overdrive(m): 7:26pm On Nov 26
ibori1:
drop ur number

08.084759570
Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 8:05pm On Nov 26
overdrive:


08.084759570


ur number is not on Watsapp
Re: What Is Your Worst Business Investment And How Much Did You Lose? by overdrive(m): 8:49pm On Nov 26
ibori1:




ur number is not on Watsapp

sorry 0.8068343713
Re: What Is Your Worst Business Investment And How Much Did You Lose? by overdrive(m): 9:15pm On Nov 26
ibori1:



ur number is not on Watsapp

amended 0.8068343713
Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 9:35pm On Nov 26
overdrive:


amended 0.8068343713
I added u already but u miss today's odds for sure
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Connoisseur(m): 10:07pm On Nov 26
Quorax:
Chai... I am eyeing that export business and I am going to find a way to use escrow ooo. No b me village people go send back to village.

So how have u been doing it since there is no escrow? How do you avoid such scenario that can lead to non payment from buyer?

That's the hard part of the business. Please let me know when you figure that out
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Quorax: 10:35pm On Nov 26
Connoisseur:


That's the hard part of the business. Please let me know when you figure that out
actually, there is an escrow company that can help handle this, but unfortunately they don't accept Nigerians on their platform.

At a point, through the former owner, I protested and they allowed us. It was reversed when the company was sold.

I will find another. But how do u find ur buyers? Through export/import portals?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by aghr(m): 10:50pm On Nov 26
LoJ:

You shouldn't worry, if your concern is the low prices. At this time of the year it is always like that.

How can I go into crypto currency... I'm a total beginner
Re: What Is Your Worst Business Investment And How Much Did You Lose? by nwaobitex: 11:20pm On Nov 26
EMMAACHILE:

It seems more people want to loose more money.
how do you mean
Re: What Is Your Worst Business Investment And How Much Did You Lose? by technuel: 9:16am On Nov 27
Please how profitable is Business center business who ever that has a clue about this business should educate me. I saw a vacant shop in a bud stop and I am considering taking the shop for business center or venturing into other businesses.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by nymphomaniac(m): 1:54pm On Nov 27
consultancy:
models, locked or unlocked and prices pls?
pls check my threads
Re: What Is Your Worst Business Investment And How Much Did You Lose? by nymphomaniac(m): 2:10pm On Nov 27
technuel:
Please how profitable is Business center business who ever that has a clue about this business should educate me. I saw a vacant shop in a bud stop and I am considering taking the shop for business center or venturing into other businesses.
business centers have boom time and Lax time...during admissions and stuff, it pays. Is the store close to a university or are there people that will need your service? What services do u intend to offer? How accessible is your shop? Ask yourself these and other questions before you commit yourself sir.

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