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Share Your Worst Business Experience - Business (4) - Nairaland

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Share Your Worst Broke Moments Experiences In Life / I Am Starting My First Business With No Prior Business Experience / What Is Your Worst Business Investment And How Much Did You Lose? (2) (3) (4)

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Re: Share Your Worst Business Experience by Oyerinde16(m): 2:47pm On Aug 24, 2021
I have being investing in commodities since 2013, I had never made a loss, come 2018 I got money from angel investors even from Niaraland, raised almost #10m (9.cool I bought commodities as usual (beans) treated it and stored it at the warehouse, only for customs to close the boarder, the way price of commodities fell in the market was shocking to say the least, a bag I bought for 22k was selling for btw 9-11k I refused to sell and tried very hard to convince investors not to sell at the peak period, prices managed to rise to 15-16k, with mounting pressure, with an imminent harvest at the corner and another downward price Summersault, I reluctantly sold at a heavy loss we made loss of 7k per bag, lost a lot of investors the following year... But last year, we bought beans at 22k and sold this month at 52k per bag... Interested persons should contact me in Oct ending, Nov-Dec...

4 Likes

Re: Share Your Worst Business Experience by Nobody: 2:49pm On Aug 24, 2021
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Re: Share Your Worst Business Experience by hosemujica: 2:51pm On Aug 24, 2021
CEOwatazs:


So sorry about that.... Please are you still into the importation business, do you still copy and send her the link to make orders for you? If yes just drop a reply will give you a better alternative where you can place your order directly from them free of charge. Thanks
Hello, I will need that info too if you don't mind. Thanks.
Re: Share Your Worst Business Experience by hosemujica: 2:57pm On Aug 24, 2021
AlhajiBitcoin:


grin

Thank you for understanding the secret.

Mechanics are criminals. I have lost an American used car too like that. I was the first user of the car.

So I now diagnose my car issues before choosing who to fix it for me.
I basically use Nigerian mechanics as tools, oga use 15 spanner lose here' , them go extract , 'oga use 10 spanner tight there', they will tighten. That's all.

2 Likes

Re: Share Your Worst Business Experience by gentleibraheem(m): 3:02pm On Aug 24, 2021
[quote author= post=105130287]THE HOME TRUTH!
If the truth wanna kill some people, let them die....
We will continue to say the truth just as it is





Who is this Man??
I mean This Response Should be Pinned on the Frontpage Of NL

2 Likes

Re: Share Your Worst Business Experience by SavageResponse(m): 3:03pm On Aug 24, 2021
BabaIbo:
Few years ago, during my NYSC days, I was involved in a business with a foreign clients(one of the UK Pharmaceutical industries) with a Nigerian man acting as middleman.
The amount involved was large and the quantity needed was over 30 tonnes.

After spending my money running around to get info on where and how to source the needed materials and logistics(find out how to move it to Lagos), the Nigerian guy played oversmart(greed) by cutting/shutting me off and getting the material himself i.e he wants to act as middle man and the supplier(me) at the same time, just to have the profit(over 5m naira) to himself.

Sensing that something fishy has happened, I kukuma spoiled everything by alerting the white men on his actions and giving them vital details on the sourcing.

Although he was sacked and the white men sourced the material themselves, but the pain that we could have shared the money if actually that is what he wants made me feel hurt.

Greed and dishonesty is in the DNA of most Nigerians. It's good to know you dealt with the guy!

8 Likes 1 Share

Re: Share Your Worst Business Experience by codeME: 3:04pm On Aug 24, 2021
it was during the time Mobile network just came to Nigeria and i started call business i bought Airtel booster, think it was about N17,000 during that time, I had two phones so i booster for each making N34,000 or thereabout, lo and behold after about 3 days i loaded booster Airtel network disappeared, i tried all i think i can do to inform them what is happening, the network came back after about 2 and half weeks. Lo and behold was not able to make anything again from the days remaining, i tried informing them maybe they can just give even if it is one booster to start again but no way, na so business pack up, small business. That was how Airtel killed the business completely. may God have mercy on them.

4 Likes 1 Share

Re: Share Your Worst Business Experience by gentlegenius(m): 3:07pm On Aug 24, 2021
Chriswazo:
Mine is simply, investing in crypto, I lost 2.5 mil doing so..
Mine was Forex trading... I lost 2 mil last year. And I'm thinking I should have invested that money in crypto. I'm surprise you lost all that in crypto. I thought crypto was better.

4 Likes

Re: Share Your Worst Business Experience by BlowAwwal01(m): 3:14pm On Aug 24, 2021
Olubi15:
Mine was poultry business,lost over 200 birds in a day.
But... You must have learned some lessons, n gained experience thou. Am also into poultry business. This cold weather took some birds along. But i learnt a lot now. And am planning to have a big poultry farm, in coming years

1 Like

Re: Share Your Worst Business Experience by dammywapes(m): 3:19pm On Aug 24, 2021
Oyo ibadan
hosemujica:
Town planning kwa, what state and area is this?
Re: Share Your Worst Business Experience by dammywapes(m): 3:21pm On Aug 24, 2021
lol kna challenges e don boom now
fatymore:



Ise ayere
Re: Share Your Worst Business Experience by hosemujica: 3:21pm On Aug 24, 2021
dammywapes:
Oyo ibadan
Oh ok.
Re: Share Your Worst Business Experience by SonofGod231: 3:23pm On Aug 24, 2021
This country is a mess. If you have no side hustle,unemployed and over 30 let alone 50,you are finished. Employers just want to employ desperate young graduates for minimum wage - they are after the keen, bright and exploitable chaps.
The harsh economy right now makes it even worse.
The only investment I ever made that ended in tears was that MMM and still regret going into it.
I started with 200K then 400K then 500K.I received all those returns until I decided to go in with 1meter that December,just when the system decided to crash.
Don't forget.I spent those returns on things like Shopping,gambling and I paid to have an escort come round once per week,I book them direct from a website,I mean the most stunning of them. Not Cheap ones.
At the end I realized, I have lost alot on loads of rubbish.

10 Likes 2 Shares

Re: Share Your Worst Business Experience by dammywapes(m): 3:24pm On Aug 24, 2021
Glory be to God e don boom since...
dammywapes:
I venture into football viewing center
First challenge no viewers i paid dstv for 7 months with my money was collective package 18k plus per month
Natural challenges rain enter tv as ineva buy nylon cover my planks tv no on for sm hours later e on
Landlord issues say ah go dey bring thieves for area
Town planning bring quick notice say d land i use kna for house say ah dey use ham for business
Gen knock
My clearance money dstv chop omo e long o make ino dey count ham

11 Likes

Re: Share Your Worst Business Experience by candyguyofficia(m): 3:34pm On Aug 24, 2021
dammywapes:
Glory be to God e don boom since...

Congratulations this shows that persistence is the key
Re: Share Your Worst Business Experience by dammywapes(m): 3:38pm On Aug 24, 2021
Yeah thanks
candyguyofficia:


Congratulations this shows that persistence is the key
Re: Share Your Worst Business Experience by Nobody: 3:38pm On Aug 24, 2021
I think you should have called him and strike a compromise in the end both of you lost out but na him own worse
BabaIbo:
Few years ago, during my NYSC days, I was involved in a business with a foreign clients(one of the UK Pharmaceutical industries) with a Nigerian man acting as middleman.
The amount involved was large and the quantity needed was over 30 tonnes.

After spending my money running around to get info on where and how to source the needed materials and logistics(find out how to move it to Lagos), the Nigerian guy played oversmart(greed) by cutting/shutting me off and getting the material himself i.e he wants to act as middle man and the supplier(me) at the same time, just to have the profit(over 5m naira) to himself.

Sensing that something fishy has happened, I kukuma spoiled everything by alerting the white men on his actions and giving them vital details on the sourcing.

Although he was sacked and the white men sourced the material themselves, but the pain that we could have shared the money if actually that is what he wants made me feel hurt.

2 Likes

Re: Share Your Worst Business Experience by CEOwatazs: 3:47pm On Aug 24, 2021
Dimejimichael:



I don quite since oooh , now I don face farming squarely

Smiles ok.


All the best in your endeavors

1 Like

Re: Share Your Worst Business Experience by CEOwatazs: 3:48pm On Aug 24, 2021
hosemujica:
Hello, I will need that info too if you don't mind. Thanks.


Ok.
temethanshuaibu@yahoo.com / 08103321990 any one just buzz
Re: Share Your Worst Business Experience by Cheeryfeet: 3:49pm On Aug 24, 2021
inigoig:


Similar thing happened to me but mine was with a state government. I’m still owed till today. Lesson Learned.
Please what lesson did you learn. How do you prevent Government from owing you I'm contract?
Re: Share Your Worst Business Experience by Brightstar10: 3:50pm On Aug 24, 2021
Mine was a network marketing business "Neolife" to be specific, it's a great business, people who make it in this business are really successful, when I started I got rejection from my parents, friends, and every close but I continued. From my experience, network marketing requires patience, commitment, focus, and time, I gave it all my best and I received stigmatization from the society, costumers refused to buy my products, prospects I shared the opportunity with didn't join my business, nothing was moving so I decided to stop wasting my time and evaluate myself.
It's an emotional business, when you start this business everything is going to happen to you, it's not a get rich quick scheme or a pyramid scheme, one has to be humble and learn.

3 Likes 1 Share

Re: Share Your Worst Business Experience by VTJN(m): 3:58pm On Aug 24, 2021
[quote author=gentleibraheem post=105134414][/quote]I'm telling you. Honesty is very scarce amongst people
Re: Share Your Worst Business Experience by smeag0l(m): 4:01pm On Aug 24, 2021
No government contract is worth doing.
inigoig:


Similar thing happened to me but mine was with a state government. I’m still owed till today. Lesson Learned.

3 Likes

Re: Share Your Worst Business Experience by Frenzy01(m): 4:16pm On Aug 24, 2021
The only one I can remember in my young business [ Foreign dog selling] is a fellow breeder sending a wrong dog to my client after sending me a different picture. Then sometimes, going months without selling a single dog... cry



Meanwhile, I sell and I buy any breed of dog swiftly at a very reasonable price. I also offer boarding and pet care services

1 Like

Re: Share Your Worst Business Experience by spritedmalcomx: 4:22pm On Aug 24, 2021
kingscare1:
Long story short- Nigeria situations like road extortions, go-slows and bad roads always have a way of encroaching on our trucking business.

Are you moving to a new location? Do you need to carry bulk products and services? We are always there for you. We have Vans, Trucks And Cranes for hires at cheap rate.

Chat us on WhatsApp lets handle your bulk products carriages
090
3546




4082



Do you have howo trucks ??
Re: Share Your Worst Business Experience by Nobody: 4:30pm On Aug 24, 2021
Running a provision store. I saw a hell in that business. Though, not into it fully but I invested #1.6mil but the business is nothing to write home about. As a medical student, I opened it as side business not even depends on it because I have multiple number of other businesses doing but the turn up is not encouraging. The management was good but the business don't have enough profit. Hardly before you spend from it without having an impact in the shop. I have closed it up.

4 Likes 1 Share

Re: Share Your Worst Business Experience by breathelove(f): 4:33pm On Aug 24, 2021
DoggoneDogg:
Pimping.

Spent money housing oloshos & upgrading their wardrobe & their lives (or so I thought). These useless girls prefer to live a useless life trust me.

They just don't know a good thing. They leave the bird at hand for the audio one in the bush then come back after they've been used & dumped, begging you to help rearrange their life again.

I no just answer & I'm a full time pastor now.

Funny thing is, when you give them a second chance, they do EXACTLY the same thing that messed them up the first time. See ehn, believe me when I say some people deserve to be wretched and unsuccessful in life. Don't pity everybody you see suffering, some love it. For the whole Naija, Yahoo boys & runz girls wey smart no reach 10.
I LOVE YOUR STORY. PLEASE CAN YOU TELL THE FULL ACCOUNT, THE WHOLE EXPERIENCE.
HOW DID YOU START. WHAT WERE THE GIRLS LIKE. EXPLAIN THE BUSINESS. TALK ABOUT THE GIRLS.
PLSSSS I CAN'T WAIT TO READ FROM YOU
Re: Share Your Worst Business Experience by Nicoddemus(m): 4:37pm On Aug 24, 2021
Coldie:
Shisha business.

I just wasted my money for nothing

How I just wanted to buy some Shiba on binance tomorrow

1 Like

Re: Share Your Worst Business Experience by Dubetex96(m): 4:50pm On Aug 24, 2021
I thought the provisions business is lucrative I'm even planning to open one. Please i will like to know more about the business.
Please can i get your number
Re: Share Your Worst Business Experience by SecretReporter(f): 4:52pm On Aug 24, 2021
CEOwatazs:


So sorry about that.... Please are you still into the importation business, do you still copy and send her the link to make orders for you? If yes just drop a reply will give you a better alternative where you can place your order directly from them free of charge. Thanks
can you share the link

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