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What Is Your Worst Business Investment And How Much Did You Lose? - Business (27) - Nairaland

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Re: What Is Your Worst Business Investment And How Much Did You Lose? by WilliamsNedd: 2:05pm On Dec 28, 2018
Emmanuel602:


I hope you are going as an agent. Because if you are planning to start gambling with people's money it would be very rough ooo

Lolz. I don't gamble. I'm going as an agent.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Slayar: 2:56pm On Dec 28, 2018
nikaShow:


Me too.

1.4 million.

I only invested after 2 of my trusted guys had been investing with them for over 2 years.

I first did 200k. Withdrew it. Then 600k. Then 800k.

It pained me and took me to ground zero, had to shut down some of my farms. I'm a fish farmer.

But God dey.

There's nothing we lost that we don't have the capacity to recover.

Yes o, so sad.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by AYORICH: 3:48pm On Dec 28, 2018
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.
What is the business all about? Marketing, blogging..
Re: What Is Your Worst Business Investment And How Much Did You Lose? by virginboy1(m): 5:43pm On Dec 28, 2018
Tallesty1:
What can man do? I was robbed twice on the month of April in the same year that I got fake pins. The only thing that kept me going was the fact that I started with nothing so I believe I can still do it again and I am on course.

Inspiring smiley
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Emmanuel602(m): 6:35pm On Dec 28, 2018
WilliamsNedd:


Lolz. I don't gamble. I'm going as an agent.

Alright good luck. Go for the bookie people around you area prefer ooo not the one that promise you juicy commissions
Re: What Is Your Worst Business Investment And How Much Did You Lose? by karlboss: 6:42pm On Dec 28, 2018
Here to learn
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Drdreluv: 11:45pm On Dec 28, 2018
bolaji73:
Don't want to be stingy so let me share mine. It actually happened about 2weeks ago.

I've been into data reselling for quite a while now. I started in my part3 days in the University. That's about 2yrs ago. I usually buy airtime from individuals most especially students whose parent sent airtime from home and they wish to convert to cash. I buy all networks but mainly mtn. I also buy share and sale airtime from individuals.
.
3-weeks ago, I bought share and sale mtn airtime from one of my online friend. airtime of 60k on a single SIM whereas I had about 42k on that particular SIM making a total of 102k..
.
later that evening, I noticed that I didn't receive any call for like an hr which is unusual cos I receive calls virtually every minutes. I tried to make a call and I got a voice response which said my line has been barred.
.
Sad by the response, I used my other line to call the customer care and I was told my SIM was under investigation for some fraudulent activities carried out with it. yeh!
.
The following day, I went to mtn office closer to my house and I was told that their unit couldn't resolve the case that I need to go to their office in Ibadan. chai! Imagine the distance from OAU Ife to Ring road Ibadan.
.
I got to mtn office in Ring road Ibadan approximately 2hrs later.joined a queue And I was later attended to. I didn't even spend up to 30mint there cos I was told the same thing the online customer rep told me except that my line would come back in the next 48hrs. I was was infuriated more not because of the airtime this time but the stress of traveling all the way from Ife to Ibadan only to be told my line would come back in 48hrs time.
.
To cut the long story short, my line came back two days after as they stated. but my over 102k airtime varnished .sorry all didn't vanish. they left for me 0.40naira.lol.
.
I used the next one week to disturb the life of the customer care. I shouted, yell, cursed but to no avail.
I've put all behind and moved on. I've learnt my lesson not to put my eggs in one basket. I'd never.Just that my village people got a large part of me that day. That's How I lost more than 100k.
guy message them on twitter it will be resolved

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by bolaji73(m): 8:42am On Dec 29, 2018
Drdreluv:
guy message them on twitter it will be resolved
I have oo.infact,i went to their head office in Lagos. Those ones even were even threatening me with police. Just had to leave everything cos the fight on its own was consuming resources.Thanks for the advise sir.

2 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by peculiar3(m): 12:50am On Dec 31, 2018
ibori1:
...


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https:///HQFaTD08ldx7F7Bvv45Is4


it's not opening, add me, I'm serious 0813 five 4 zero 9579
Re: What Is Your Worst Business Investment And How Much Did You Lose? by AXYZ: 5:00am On Dec 31, 2018
Gaspardd:
Crypto
Bought verge at 56sat with 1000k usd then rose to 35k usd
Was greedy and didnt pull out, now i have 900usd

Sadly it's too late to pull out for now, just keep hodling until it booms again even if it's 2-3 years time but definitely it'll go back
Re: What Is Your Worst Business Investment And How Much Did You Lose? by AXYZ: 6:08am On Dec 31, 2018
khassy:
I see people talking about cryptocurrencies here so I think is should add this

Lost 750k to Ethereum in January
Invested 350k in altcoins in January and had to sell off in September for 46k after HODLing thinking it'll yeast.
Lost another 1.6m to gift cards in September.
Coupled with occasional 100k, 150k, 50k loses throughout the year

All in all, I still don't think I lost anything significant.. I just feel I got more experienced.

For anyone trying to venture into crypto currency is at this time. I advise you just invest your money somewhere else Sha.. the good ol days are over..

It's the red season now grin grin grin

Talking from experience, I understand the fears and the feelings that come with seeing your 1k turn to say 1h, you should have still be hodling no matter what until you're in profit, no matter how many months or years it'd take instead of cashing out the paltry sum you mentioned. I bought high and sold low sometimes last year but not anymore. Anytime it's devalued, I forget the coin. It will always come back.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Gaspardd(m): 8:05am On Dec 31, 2018
AXYZ:


Sadly it's too late to pull out for now, just keep hodling until it booms again even if it's 2-3 years time but definitely it'll go back

Lol, my plan was to pull out 2020, but i think i might extend it to 2021.
Also i want d bear market to extend till d next 6 mths, with that i can buy more.
And i actually used my house rent to buy more also so right now i am homeless.. cant be seeing such a low price and me just folding my alms.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by obuksjr(m): 11:09am On Dec 31, 2018
Right back
Re: What Is Your Worst Business Investment And How Much Did You Lose? by AXYZ: 4:54pm On Dec 31, 2018
Gaspardd:


Lol, my plan was to pull out 2020, but i think i might extend it to 2021.
Also i want d bear market to extend till d next 6 mths, with that i can buy more.
And i actually used my house rent to buy more also so right now i am homeless.. cant be seeing such a low price and me just folding my alms.

Exactly my plan. I intend buying BAB (bitcoin cash), ETH, XMR, ZEC and DASH in addition to my portfolio if the price rekt finally.
However I'll sell everything as soon as BTC reaches ATH or reach 18-20k and wait to buy low again after a year or thereabouts.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by lemmyBE: 8:18pm On Dec 31, 2018
AXYZ:


Exactly my plan. I intend buying BAB (bitcoin cash), ETH, XMR, ZEC and DASH in addition to my portfolio if the price rekt finally.
However I'll sell everything as soon as BTC reaches ATH or reach 18-20k and wait to buy low again after a year or thereabouts.

My crypto people, this is definitely the time to buy more. Nice one

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Gaspardd(m): 8:29pm On Dec 31, 2018
AXYZ:


Exactly my plan. I intend buying BAB (bitcoin cash), ETH, XMR, ZEC and DASH in addition to my portfolio if the price rekt finally.
However I'll sell everything as soon as BTC reaches ATH or reach 18-20k and wait to buy low again after a year or thereabouts.

Thats very cool. But then i had to go with a coin with low market cap. I am all in with Dent, Ncash, siacoin, Ada and NPRS but nprs just bleeped up with their recent news so i pulled out.
But i beleive btc can get to 60k to 90k usd considering if crypto market cap gets to 1T usd which is not far fetched. Last ATH saw market cap at 350billion usd.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by AXYZ: 9:13pm On Dec 31, 2018
Gaspardd:


Thats very cool. But then i had to go with a coin with low market cap. I am all in with Dent, Ncash, siacoin, Ada and NPRS but nprs just bleeped up with their recent news so i pulled out.
But i beleive btc can get to 60k to 90k usd considering if crypto market cap gets to 1T usd which is not far fetched. Last ATH saw market cap at 350billion usd.

I like to invest my money in alts that are in first 50 or at most 100 on coinmarketcap. I have iota, ripple, Neo, etc, Eos, San, omg and qtum. No matter how much I put today, they should X10 in less than a year or 2, all things being equal.

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by AXYZ: 9:15pm On Dec 31, 2018
lemmyBE:


My crypto people, this is definitely the time to buy more. Nice one

Definitely. Buy low or lower is the key!
Re: What Is Your Worst Business Investment And How Much Did You Lose? by dafido: 9:19pm On Dec 31, 2018
khassy:
I came across a thread on nL https://www.nairaland.com/4548511/business-start-400k-lagos

Being the entrepreneurship person that I was, I set out to give it a try.

Left my base in Ilorin to try it out.

Long story cut short.. I invested about 160k into it. Lost about 54k

But I'm unbothered tho, I'm still giving it two more shots next month before giving up on it.

I'm attaching a screenshot to summarise everything I spent.

Note I didn't include my transport, cus I was driving my car myself and it was some sort of tourism to me.

Lesson learnt,
Never test a business based on what people say and don't try any business with money you can't comfortably lose (I learnt the last part from cryptocurrency) grin

**MODIFIED**
I see people talking about cryptocurrencies here so I think is should add this

Lost 750k to Ethereum in January
Invested 350k in altcoins in January and had to sell off in September for 46k after HODLing thinking it'll yeast.
Lost another 1.6m to gift cards in September.
Coupled with occasional 100k, 150k, 50k loses throughout the year

All in all, I still don't think I lost anything significant.. I just feel I got more experienced.

For anyone trying to venture into crypto currency is at this time. I advise you just invest your money somewhere else Sha.. the good ol days are over..

You were part of the 'get rich quick' herd that ran into crypto when everywhere was saying bull bull bull in december 2017. You should've done more research bro.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by odimbannamdi(m): 9:16am On Jan 01, 2019
richie9093:


They aren't really cheaper to sell. it's the way you choose to market and package the products.

I know people who are selling iPhone XS for ₦450k even with the chip and not factory unlocked. All you just need to do is give people assurance and package it better.

You can even throw some half truths in and tell them sometimes the factory unlocked phones choose Sims to work on (which is true in itself) but with the chip, it's flexible.

Baba, Na business you dey do oo. Package you business well. Don't just be dishonest in your dealings (I mean don't swerve or scam people and be open to giving warranties).

Hello bro. I am looking to venture into sales of phone as a 3rd source of income. My budget is 200k and i am looking to start with a couple of phones and grow from there.

You sound experienced, can you guide me?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by odimbannamdi(m): 9:20am On Jan 01, 2019
ezenwajosh:
Well earlier this year lost mine to BUHARIA AND BAD CORRUPT GOVERNMENT, CORRUPT JUDICIAL SYSTEM AND A PROVE TO ME THEY DELIBERATELY DON'T WANT NIGERIA TO MOVE FORWARD

I INVESTED IN ELECTRICITY GENERATION....

BOUGHT ENOUGH GENERATOR AND SOLAR PANEL TO POWER @LEAST A COMMUNITY AND GIVE THEM 17HRS ELECTRICITY A DAY.... I went to NERC(NATIONAL ELECTRICITY REGULATORY COMMISSION) got a permit and started generating just after a month EEDC lost that community to my own electricity... The next thing same NERC that gave me permit now came am ask me to get a LICENSE INSTEAD but their rule said u can only be given a license if you're generating enough power to serve a STATE but anything below that is ordinary PERMIT from them....I went to court nothing came out of it....and the LICENSE IS ABOUT #200,000 000

MY INVESTMENT WAS ABOUT #17MILLION

FROM THAT DAY I KNEW FOR SURE NIGERIA WAS NEVER DESIGNED TO PROGRESS.... ITS NOT ABOUT CANDIDATES OR PARTY its about the FOUNDATION ON WHICH NIGERIA WAS FORGED. I sold all my machinary, wires, poles and solar panels... And went back to CIVILIZATION and I will never step foot in Nigeria again till we get BIAFRA

WHEN KANU SHOUTS NO VOTING IT SEEMS ITS ALL ABOUT BIAFRA HE'S ACTUALLY TRYING TO GIVE YOU PEOPLE YOUR POWER BACK.... BECAUSE ALL THE POLITICIANS ARE THE SAME....ALL THEY CARE IS GET YOUR PVC... GET YOUR PVC LETS VOTE HIM OUT AND VOTE THE OTHER IN, AT THE END OF THE DAY.... THEY WILL ALL MOVE IN TO RULING PARTY AND RECONTEST... AM SORRY AM SOUNDING POLITICAL BUT ITS THE CAUSE AND THE REASON 90% OF YOUNG BUSINESSES HAS FAILED IN NIGERIA

This is terribly sad. Nigeria has purposely been kept backward by selfish people with selfish interest. j

3 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Purplekush(m): 3:59pm On Jan 01, 2019
AYORICH:

What is the business all about? Marketing, blogging..

Hi. I already replied that few pages above.

Just follow my moniker. I'll be giving away lots of free tips on How To Run An Online business doing Mini-Importation for FREE here.

Including free videos trainings
Re: What Is Your Worst Business Investment And How Much Did You Lose? by odimbannamdi(m): 11:26pm On Jan 01, 2019
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.

Hi bro. please how do i reach you? Sharpening my Excel skills is one of my plans for this year. I need your guidance. please
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Shobizz(m): 4:28am On Jan 02, 2019
WilliamsNedd:


Lolz. I don't gamble. I'm going as an agent.

Hey bro, being an agent is not d issue. I once work with Bet9ja Super Agent. This guy is doing well as in business is booming with 4 big shop.

But he still owe us Salary. Owing me 4month salary. B4 I vex commot as in quit.

He do tell us don't stake (play bet 4 our self) yeah he's right. But dix guy na confirm gambler. Over night staking on Virtual so tey we hardly have enough credit to play 4 customers.

Customers will win on Virtual n then ask them to come back.



My point is he knows the rule PLAY BUT DON'T STAKE but I observed he want to double hustle as in he also gamble, then he love ladies with big backside.


U can place bet on board game of 100, 200 but don't max bet.

Work with a betting company that is profitable N reputable. d likes of Bet9ja n Nairabet.

Bet of Luck

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by kaikubura: 4:57am On Jan 02, 2019
shiffynaani:
MY BOSS, HOW CAN YOU TEACH ME THIS SERVICE BIKO? I REALLY NEED TO LEARN A SKILL PLS
Send me an email.

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Shobizz(m): 5:04am On Jan 02, 2019
Men of Honour, I really appreciate u all 4 sharing ur experience, I learn a lot N motivated.

Though I haven't lost large sum to business. All because I have not venture into meaningful one. But lost a lot trying to invest in people. Not huge sum.

GREAT MEN FALL, IT DOSE NOT MATTER HOW MANY TIMES U FALL. WHAT MATTER IS WHERE U ABLE 2 GET BACK ON UR FEET.

2 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by privaldo: 5:26am On Jan 02, 2019
hahn:

Can you pay for my time?
how much and any contacts? I am intrested
Re: What Is Your Worst Business Investment And How Much Did You Lose? by privaldo: 5:28am On Jan 02, 2019
Yoshy:


Maybe, let me know, better still we may exchange info if you don't know how to earn big from freelancing yet.
what kind of freelancing skills is required? pls help a brother
Re: What Is Your Worst Business Investment And How Much Did You Lose? by hahn(m): 8:55am On Jan 02, 2019
privaldo:

how much and any contacts? I am intrested

You can send me a pm if you are interested
Re: What Is Your Worst Business Investment And How Much Did You Lose? by privaldo: 11:35am On Jan 02, 2019
hahn:

You can send me a pm if you are interested
don't know how to send a pm on nairaland
Re: What Is Your Worst Business Investment And How Much Did You Lose? by hahn(m): 2:59pm On Jan 02, 2019
privaldo:

don't know how to send a pm on nairaland

Click on my moniker to view my profile and click on "send message"

I just tried sending to you but I don't know if it went through. You can check your email inbox for the notification

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