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Which Business Did You Regret Starting Because It Ended Up In Huge Loss - Business (4) - Nairaland

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What Business Do You Regret Starting?? / Which Business Did You Regret Starting Because It Ended Up In HUGE Lose? / Supermarket Owners Rake In Huge Profits Over Closure Of Shoprite In Akure (2) (3) (4)

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Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Mustiboy(m): 4:18pm On Jul 16, 2021
sirblend:


Stop deceiving people please.
Because of N200 eBook you are showing people someone else earning.

He's not lying. I know his moniker here on Nairaland.

I'm also a freelancer and I've made over $1k in a month before.

Check his screenshot time in correlation with the time he commented.

16 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Nobody: 4:18pm On Jul 16, 2021
psucc:
Ikot eyop. Da iwuôhô naña nke kere.
obong! Eyop A` fon ke benin o
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by efembaba(m): 4:18pm On Jul 16, 2021
Mini importation for me.. Logistics wahala...

Sorry to digress a bit from the topic, does anyone know where I can market and sell my digital products in Nigeria ?? It is a bundle that has many great packages for digital marketers in Nigeria

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by bjdon: 4:19pm On Jul 16, 2021
Well done to all of you that had the courage to start something. Even if it did not work out, you showed courage and determination. Never give up, your time will surely come

46 Likes 2 Shares

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by zinaunreal(m): 4:21pm On Jul 16, 2021
FalseProphet1:
The ability to forsee the end of an a business before starting is the major reason why people fail in business, I see more people failing miserably in business because they lack this gift.

This I have seen.
Wrong. Nigeria is not stable for general business . Shops close down in thousands everyday because of stern competition

13 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Overthemoonman: 4:23pm On Jul 16, 2021
I invested over 200k in crypto, now my money no even each 10k for all my wallets again.. All the coins din turn 00

32 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Nobody: 4:23pm On Jul 16, 2021
MejiLoyon:
Gas retail at Ibadan
Dem no gree buy from me as I no be indigene.
Last last I use the money drink beer and catfish.
As losses dey enter I kuku use am chow make I no get ulcer join.

Dumped it and started afresh and boom!!!!!!

Just say you were a bad business man and stop using ur non-indigent status as an excuse. No matter your tribe, if you are nice and have a good attitude, people will patronise you, especially Yorubas cos they are not tribalistic. There are Igbos and Hausas flourishing in IB and every other place in the southwest.

Some of you have very bad customer relationship and yet u want people to bring their money to you, it doesn't work that way.

69 Likes 3 Shares

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by milkywaves(m): 4:23pm On Jul 16, 2021
Imported Gas Level Indicator..
The stuff was a huge failure..
Haven’t recovered yet from the loss but I will in no distant time cause I consider it a “business lesson.”

9 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Blackman7: 4:23pm On Jul 16, 2021
Fish farming
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by InfinixMine: 4:24pm On Jul 16, 2021
How did you come about this freelancing?

Hamzaay:
Delivery business. People over here no won pay for jobs ooo and the delivery thing is risky so I have to opt into my long time business freelancing and I am making noting less than $1k in a week for a bad days and $4k in other good weeks.

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by iramure(m): 4:25pm On Jul 16, 2021
Haulaging/transport business. The vehicle is always giving issues. Ended up spending close to #2.2 million to repair which included changing the engine to tokunbo, yet no breakthrough. Las las, the vehicle is in mechanic workshop for the past 2 months. What a huge loss!

37 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Omj4419(m): 4:26pm On Jul 16, 2021
Forex
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by ablejesus26(m): 4:26pm On Jul 16, 2021
Eatery business in Iworoko Ado Ekiti,it was a blunder ��

12 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Nobody: 4:28pm On Jul 16, 2021
Forex,crypto & betting ...lost a car I intended to use to start a new life buy uber/bolt to thieves.. God please don't let me die in depression.

31 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by adonainana: 4:30pm On Jul 16, 2021
Hotel business

At first i chopped money like there was no tommorrow, it a low budget hotel with sales of about 5k per night. Was banking in about 30k per day. It was like blood money for someone who has never made that much money from anything for like the first 6 months.

Mistake 1
About late last year, Nigeria happened and Buhari proved himself to why he was Buhari, inflation and purchasing power, i noticed people who still wanted to bring babes didnt have enough money left like that cos of food inflation etc. Most were now going for short time service which was 1500 naira for 2 hours. And as a man once you are done with what you want to do, your eye go clear till next time konjiii hooks you and you are back again.

So in essence i was cashing in more 1500 naira bookings instead of the 5,000 naira bookings resulting in less income per night

Mistake 2
When i was making crazy money per day, i too was forming big boy dashing people around money and acting like i had money, what people came to the hotel to do, me too i carried people to other expensive hotels to do.

Also i was repairing almost everything in the hotel customers will spoil, anything be painting the same wall over and over again

Meanwhile price of emulsion went from 4k to 12k minimum, i still would be doing renovations non stop

I even wanted to buy diesel generator at one point in time and give customers AC, Rooms that i know they wont still sleep in for less than 5k a night. Thank God i couldnt afford the diesel generator

Mistake 3- Ramadan period
Chai this period for like 2 months was hard ooo, its like everyone was holy and no one wanted to spoil thier fast, but once Ramadan ended, things went back to normal.

Conclusion
Save your money and put your money where your mouth is.

Now im still back but more clever now, I have stopped pointless renovations. And i have started saving my money,

Even now i have started lying to my staff that there is no money for renovations, lol the same people that remit 30k per day room bookings for me every day haha

Also im trying to do a palmwine lounge thing. I have noticed one thing its when people are drunk or tipsy thats when they start wanting to do the obvious.

Lead city university students too that always came to camp at the hotel and be doing party around the night looool

Chai

65 Likes 2 Shares

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by ogbuefi677(m): 4:31pm On Jul 16, 2021
iramure:
Haulaging/transport business. The vehicle is always giving issues. Ended up spending close to #2.2 million to repair which included changing the engine to tokunbo, yet no breakthrough. Las las, the vehicle is in mechanic workshop for the past 2 months. What a huge loss!
Truck?
Trailer?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by BenedictStinson(m): 4:32pm On Jul 16, 2021
If you're not careful transport business can wreck you. Banks won't even give you loan because to them vehicles are "diminishing assets" so it can't be used as collateral. You will just be using money on expenses. At the end of the day when you finally give up, the condition of the vehicles won't even attract reasonable offers so you will be left with nothing

30 Likes 2 Shares

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by BlueBanana: 4:32pm On Jul 16, 2021
Mustiboy:


He's not lying. I know his moniker here on Nairaland.

I'm also a freelancer and I've made over $1k in a month before.

Check his screenshot time in correlation with the time he commented.

What's your niche bro?

3 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by HardWork29: 4:32pm On Jul 16, 2021
efembaba:
Mini importation for me.. Logistics wahala...

Sorry to digress a bit from the topic, does anyone know where I can market and sell my digital products in Nigeria ?? It is a bundle that has many great packages for digital marketers in Nigeria
Any uni, polytechnic or college of education or nursing environment.
What kind of product

1 Like

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Rabbi01: 4:32pm On Jul 16, 2021
psucc:
Ikot eyop. Da iwuôhô naña nke kere.
No, na.
Eyop idehe business usen kied.
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by praiseneo(m): 4:33pm On Jul 16, 2021
kinzd:
whats your location
Lagos abulegba

2 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by praiseneo(m): 4:33pm On Jul 16, 2021
southniyikaye:
location
Lagos abulegba
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Hamzaay(m): 4:35pm On Jul 16, 2021
Mustiboy:


He's not lying. I know his moniker here on Nairaland.

I'm also a freelancer and I've made over $1k in a month before.

Check his screenshot time in correlation with the time he commented.

Do you think I need to convince you. Poverty is in the mind bro. You are limitless.

That’s my account

6 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Okoyouth: 4:35pm On Jul 16, 2021
Baba Ijebu
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by kayone6237(m): 4:36pm On Jul 16, 2021
Buying Okada and given it out in hire purchase. I regret still regreting ever ventured into that business

8 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by fortune1968: 4:37pm On Jul 16, 2021
lazkizz:
Beer parlor, my friends and my girlfriend Drank both the Capital and interest

Can't even pay the shop rent undecided
Did people not patronize you or what happened ?
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by iramure(m): 4:40pm On Jul 16, 2021
ogbuefi677:

Truck?
Trailer?
long frame Ford bus
Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Obakashdee(m): 4:40pm On Jul 16, 2021
Dam417:
Forex,crypto & betting ...lost a car I intended to use to start a new life buy uber/bolt to thieves.. God please don't let me die in depression.

Damn this is much oo
Sorry brother

3 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by holygenius3(m): 4:41pm On Jul 16, 2021
MBA, Bara and Kubeconcepts disappear with my money. Forex.

2 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by durasome(m): 4:44pm On Jul 16, 2021
southniyikaye:
;Dso it means I WAs lucky mine picked cos I no be indigene o, but got a good location
.let him forget about the indigen aspect and say maybe the location or something else.

5 Likes 1 Share

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Obakashdee(m): 4:45pm On Jul 16, 2021
Hamzaay:


Do you think I need to convince you. Poverty is in the mind bro. You are limitless.

That’s my account

He’s supporting you na
Lol why you be like this
Oya teach guys

6 Likes

Re: Which Business Did You Regret Starting Because It Ended Up In Huge Loss by Monben: 4:46pm On Jul 16, 2021
How are you doing it? I'm interested


Hamzaay:
Delivery business. People over here no won pay for jobs ooo and the delivery thing is risky so I have to opt into my long time business freelancing and I am making noting less than $1k in a week for a bad days and $4k in other good weeks.

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