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What Is Your Worst Business Investment And How Much Did You Lose? - Business (24) - 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 chalantmike(m): 2:27pm On Nov 27
comedynaija:
Bought Some watches from Ali, watches came, no one to buy at my price, sold to mallam at a reduced price.
how would one order from alibaba and have it delivered to ones location, am based in the north.plz
Re: What Is Your Worst Business Investment And How Much Did You Lose? by nattyspice: 4:43pm On Nov 27
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.
Oga mi,you for carry your mack come abuja,plenty quarry dey for mpape .

2 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by chalantmike(m): 1:25pm On Nov 28
So far, what have learnt.

*business based on sentiments, is a no no.
*before going into business, do your homework, the devil is in the details.
* business is best, when its personal, managed by you.
*don't trust anyone, even your father.
*when it comed to internet business, learn to cash out quick, while still operating under beginners luck.
*making money is addictive.
*the tides can turn at any time.

10 Likes 4 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by chalantmike(m): 1:55pm On Nov 28
olatuneji:


Bro God bless you for saying this.You sincerely hit the main point.
There is nothing absolutely new in this world.nothing will forever remain permanet.
one can hit a jackpot of #30million tonight and lost everything within 24hrs.one can make a profit running into billions of naira from a contract and in the next 20yrs turn beggar.
Anyone who is a deep thinker will reason with me that our primary aim of coming to this world is to make IMPACT. No doubt money gives comfort,gives good life and will enable one to feeds fine.
Surely,there would be wealthy class of people during Michael Faraday era,but how many do you and i know.
My approah and view to money is different.i'm equally not desperate.I'm in my late 20s,unemployed.When i read the thread,"how old were you when you made your first million." last night i was never in a way moved.I dont wish evil and lost to all those who shared their wonderful experience on that thread,but if all of them should in anyway go back to that thread in the next 20-30yrs,you will see that not all will......

True, buh nigerians don't go into business for impact, they go into business for money.
They're is a reason why creative people hardly strive in the business work, the creatively inclined mind fail /hardly understands terms like profit, investment etc.
All those are logical terterms that directly affect the logic faculty of the mind not the creative one. Creative people are hardly greedy to do business you have to be greedy.
Money has to motivate you, you have to be motivated by money to earn it, if money doesn't motivate you, wakeup this is Nigeria, we worship money not talent.
Find a way to monetize you talent, while you still young, get your mind out of that creative higher idealism, and get down into logic realm, where nigerians play.

I plan on doing the same thing.
For one thing, I spent two year working on a product without checking the market viability of that product, it was until I went out into the world, I saw what was wrong with my product, and why it would not survive, I had to go back spaspend another year fixing it.
I would have figured out the flaw in my product if I wasn't too focus on that creative side of things, that zeal to help, make the world a better place , as far as a human can . If I wasn't too stuck on that creative juice, I could have seen the flaw in my product and avoided it.

I lost 150,000k , not to anyone or company but to myself, the time spent is what I regret the most.

2 Likes 2 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by yungchivvy: 5:05pm On Nov 28
See as people dey like and share person loss.. Lol.


I won't say my own before my village people like am grin

8 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Godsfavour78: 5:37pm On Nov 28
Quorax:
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?
chairman how do you find buyers. Am still learning the business.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Godsfavour78: 5:38pm On Nov 28
Connoisseur:


That's the hard part of the business. Please let me know when you figure that out
please how do you find buyers. I want to start this businesses first as a mm.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by chalantmike(m): 6:20pm On Nov 28
Purplekush:


I read everything too as I always look out for the bad deals to avoid. Well, the first step is to have a laptop and an internet enabled phone. If you have those 2 down, you should be then start looking at the startup capital which should be anywhere around 50 to 150k. Not much when compared to the tradition brick and motar biz models.

Get these down and then we can talk more. today alone I got like 11 orders of a 21k product. And I'm still a learner in my niche
what niche /business you into.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by chalantmike(m): 6:21pm On Nov 28
Paulpaulpaul:



I'm ready to learn something that will change my financial status. I read from page 1-20 yesterday on that millionaire thread and got challenged. I believe the failures are mere clog
help with the link to the trend, plz
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Paulpaulpaul(m): 6:37pm On Nov 28
Re: What Is Your Worst Business Investment And How Much Did You Lose? by chalantmike(m): 6:53pm On Nov 28
Re: What Is Your Worst Business Investment And How Much Did You Lose? by seegi(m): 10:33pm On Nov 28
seegi:
HELLO. Please am using this opportunity to inform the Masters in the house that deal with mini-importation or any other job that have to do with delivering of product to your customers Nationwide am bringing it to your notice that i can serve as your AGENT in helping you to deliver your product to your customers in Ilorin and Kwara state at large bcus thats where i base, am looking forward in having a positive result here, THANKS.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by abdeiz(m): 5:27am On Nov 29
Please how can i get my hands on those videos, a link or just hint on what online business you engage in, im about to go full deep into fiverr soon, just polishing my skills at the moment. Thanks and please do reply.

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.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by abdeiz(m): 5:29am On Nov 29
Please can you help me with the link to the thread? thanks


Paulpaulpaul:



I'm ready to learn something that will change my financial status. I read from page 1-20 yesterday on that millionaire thread and got challenged. I believe the failures are mere clog
Re: What Is Your Worst Business Investment And How Much Did You Lose? by abdeiz(m): 7:58am On Nov 29
grin grin grin grin Your story is very cute and funny....no offence but i was expecting millions lost....anyways i had a good laugh....E go better for us all amen

NaughtyNavami:
grin grin Hello everyone
Let me too share my small story on bad investment.


So early last year, when I was in 100L my small 18 years old self heard about naija taxi, and how you can make 15k every month if u put some small thousands of naira ��

And my aunty just sent me 10k., naso I put 5k into naija taxi, before one month reach, naija taxi closed down oo.

I did not see my 5k again ��.
Wo hunger flog sense into me for the next three weeks, to make matters worst my mates con dey laugh me �� because I told them that I would soon gain financial freedom.
Well I did learn two valuable lessons
1) Never invest in a business u know nothing about.
2) Don't count your chicks before they hatch.

God bless us all oo
Re: What Is Your Worst Business Investment And How Much Did You Lose? by abdeiz(m): 8:03am On Nov 29
Cant help but to agree.
If you make so much money as claimed why sell your secrets and invite unnecessary competition, forget altruism jare



lele007:


I dunno why I pity you but let me just help your life.

2 kinds of people make money thru "online business"
1. a website or blog that is POPULAR, tens of thousands of viewers everyday, and
2. people who sell the dream of making money online, like the ones you are begging here.

don't waste time or money on no. 2. if they really are good, they would be too busy being no. 1. They need suckers like you to feed.

I've said enough.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by WilliamsNedd: 6:08pm On Nov 30
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.

If you're in Lagos,let's meet up and set up a bet9ja shop. Send me a pm.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by cdor777: 5:32pm On Dec 01
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


CAN YOU SEND THE VIDEO TO ME I AM READY TO START AN ONLINE BUSINESS
Re: What Is Your Worst Business Investment And How Much Did You Lose? by WilliamsNedd: 6:05am On Dec 02
Good morning technuel. I've replied your pm.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by shosky72(m): 6:31am On Dec 02
My worst investment is when I had an order to supply PKO to Lagos, I actually collect part payment of 400k for production, in a bid to get the job done, I went to a village in idanre local government of Ondo state, ipoba 1 and 2,to source PKN, along the line, I met a guy that promised me of supplies, I trusted him with my money, before I know it, he got my money and never supplied me the PKN but I learnt my lesson

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Kaymercury(m): 8:34am On Dec 02
mine happened sometimes ago I started my business INDEPENDENTLY 2016 am into foodstuffs things were going fine until last year rice scarcity hits ilorin or lemme say entire Kwara state, wow what a perfect opportunity because I knew some people in saki town that are into rice importation business so I contacted them and we started the business with 1 million Naira things going smoothly I then applied for a loan at a cooperative society which my dad is also a member the loan was granted (1m) I collected(borrowed) another money from mum plus other Money I had saved over the year by then my working capital was about 3m as at that time was making about 100k plus every week then it happened my worst nightmare !nigeria custom service seized the goods while en route ilorin the entire goods was seized with vehicle.i tried to buy my way out but it all put abortive it was scary all vanished in a day I finished repaying the money obtained from the cooperative 6 months ago but am back on my way feet now.have stopped the rice business now but I do buy little I can afford to lose now.am back to the basic now am into agricultural products business I supply wheat, maize, soya beans etc

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Realexcel(m): 12:13pm On Dec 02
Tallesty1:



They're not fraudsters really, reputable company with branches in many states. They're still in operation.


What I discovered was that two people were supplied the same pins but the first person distributed it first so I was on the losing side. More like an error from the sales department and they don't wanna own up to the truth.

I lost because it was written in the signed agreement that they're not responsible for whatever happens to the pin once they're delivered to your inbox so they kept saying that my email was compromised and stuffs like that but that's not true. I marked every read email containing the pins as unread and I changed my password after every successful download.

These orgs have smart lawyers that got their backs at all times.
Hello, I'd like to know why you marked read messages as unread, what can it suggest. Thanks for prompt reply
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Postboiswag(m): 4:49pm On Dec 02
malachytochukwu:
I have lost quite some money.

I met this guy that claims he trades forex and makes millions... I wanted to see him make the millions in my presence so I could learn. Then I was a corper. We met on some occasions and being on weekends he couldn't show me live trades. Weekdays he sends screenshots of how much he made. Then he would show "genuine " concern concerning my finances as a corper.

Later he asked me to bring just 20k to grow it for me.... He complained that he couldn't make enough money because of the size of the fund..... Later I put in 500k....in three days the money was gone.... Called him till he changed sim card entirely.
It was painful to loose such amount as a corper.

However, I was struck again and that one was terrible...
Met someone else who claimed he was great in forex trading... Told him to go to hell.... He was persistent and pleaded that I should give him a trial...

I decided to try him with just $100.
He managed to move the $100 to $800
After three weeks of monitoring him I decided that he was good..... Then I put in over a million....

Within two days he did well and boom all accounts got blown the next day..... He blamed whatever and pleaded that I give him $200 to recover all.... I deleted his number.


Bottom line.... DONT EVER GIVE YOUR HARD EARNED CASH TO ONE "PROFESSIONAL" FOREX TRADER TO MESS WITH.



I experience this also
I met a professional binary trader he make @least 600$ with just 200$ capital

So I was amazed
Naxo I struggle for like 2months go borrow 200$ from someone
I funded my account and he dy manage am
In three days he make 100$ profit
Making 300$
Next day I just wake up check my balance
I just dy see 5$ balance

Till now I still dy feel d pain

No trust all those trading accounts manager

3 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by donifez(m): 5:36pm On Dec 02
hahn:
What happened to me this year sef just get as e be.

So I was finally making N25k daily from my website and saved more than N1m and decided to hire a professional SEO company to handle my seo so that I can rank for more keywords and make more money. My target is to make 100k+ daily which is actually what my competition make.

The SEO company charged N150k per month and on the first month we found out that Google had penalized my site because of a Yoast plugin issue. With the Yoast plugin new update they was an option which was usually turned off by default but was on with the new update and thus pages were created automatically using images and no content. Coincidentally Google's new algo or whatever just came out and in it included a rule against pages with only images. And thus I was bleeped.

You can read more about the Yoast issue here https://charlesfloate.co.uk/yoast-mess-up. Many people were affected by this issue. If you go through the comments you will see one guy complaining about how he went from $1,000 per month to $100 because of his drop in traffic.

Also the seo company discovered that for some reason my backlinks created to my website were being removed so now I had to pay for on-site seo and also backlinks. To cut the long story short I spent all my savings trying to resolve this issue and I am still working on building more backlinks.

Daily income has gone down to N5k-N10k daily and yes I am royally bleeped because I have to fuel my gen and run it for 24 hours as we barely have power here. Nepa did not even blink the light throughout the weekend and as I write this the generator is on and making noise. Data, feeding, diapers, baby food etc sef dey there but we are managing.

I don't even know what to call this one. Whether bad investment or simply bad luck but thought to share.

By the way, based on the kind of person I am due to the low traffic I was getting and free time I got I used that spare time to build 3 new websites and now I am working on building them to profitability. Man never back down cool

I am really interested in this. I just want you to be my mentor. I am a novice. Thanks.... Donifez224@gmail.com
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Tallesty1(m): 6:06pm On Dec 02
Realexcel:

Hello, I'd like to know why you marked read messages as unread, what can it suggest. Thanks for prompt reply
Nothing serious. It is my believe that anybody with unauthorized access will not remember to mark them as unread,that way I will know if somebody else has read the mails.

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by bigiyaro(m): 6:25pm On Dec 02
please how lucrative is bar or beer palour biz? please let me know if you have done it before.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by sircrabo: 11:25pm On Dec 02
ibori1:
swaggerguru u can add me on Facebook u will all smile few can testify on that


a topic was created abt a person begging for 2odds which I dropped 2odds for 2days and both enter for sure u can search for dt topic itself. skylane was d 1 who created d topic,search for ursef

I see an entertainment website page when I searched for swagger guru. If you have whatsapp, pls encode it here, let me see if I can turn over b4 18th
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Quorax: 2:06am On Dec 03
chalantmike:


True, buh nigerians don't go into business for impact, they go into business for money.
They're is a reason why creative people hardly strive in the business work, the creatively inclined mind fail /hardly understands terms like profit, investment etc.
All those are logical terterms that directly affect the logic faculty of the mind not the creative one. Creative people are hardly greedy to do business you have to be greedy.
Money has to motivate you, you have to be motivated by money to earn it, if money doesn't motivate you, wakeup this is Nigeria, we worship money not talent.
Find a way to monetize you talent, while you still young, get your mind out of that creative higher idealism, and get down into logic realm, where nigerians play.

I plan on doing the same thing.
For one thing, I spent two year working on a product without checking the market viability of that product, it was until I went out into the world, I saw what was wrong with my product, and why it would not survive, I had to go back spaspend another year fixing it.
I would have figured out the flaw in my product if I wasn't too focus on that creative side of things, that zeal to help, make the world a better place , as far as a human can . If I wasn't too stuck on that creative juice, I could have seen the flaw in my product and avoided it.

I lost 150,000k , not to anyone or company but to myself, the time spent is what I regret the most.
why waste all your energy telling grown up man who has made up his mind to dine with poverty what to do? I have seen his type.... Many of them are stark lazy but hide under the facades of money not motivating them... They are the vanity upon vanity crew... And I don't feel an ounce of pity for them.

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 7:20am On Dec 03
sircrabo:


I see an entertainment website page when I searched for swagger guru. If you have whatsapp, pls encode it here, let me see if I can turn over b4 18th




drop ur WhatsApp Number soo i can add u,




hope ur a serious minded person?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Tonyferrad(m): 10:08am On Dec 03
1Ronaldo:


I trust only myself in gambling business.
I have rolled 1k over to 79k and withdrew.
I have also rolled over 1k to 40k and lost.
I have used 18k to win 134k
And also used 50k to win nothing..
I have learnt the game, so it is not about you giving me 2odds...
bro can I HV ur wttsapp digit?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by jonextee(m): 4:38pm On Dec 03
ibori1:
drop ur number
08103435548...... Bros pls add me to ur group ..abeg
Re: What Is Your Worst Business Investment And How Much Did You Lose? by ibori1(m): 5:35pm On Dec 03
jonextee:

08103435548...... Bros pls add me to ur group ..abeg


I don't just add pipo in my group , i'm sorry


but I will add u personal. for now


but hope u stake my game today

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