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What Is Your Worst Business Investment And How Much Did You Lose? - Business (7) - Nairaland

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Re: What Is Your Worst Business Investment And How Much Did You Lose? by Nobody: 6:45pm On Nov 19, 2018
CaptainMitch:
I invested over 250,000 in fish farming and made a huge loss, I changed my mind about investing in agriculture, but I have recently gotten land and I am still thinking of what to plant.
if you have the resources why not go for training on aquaphonics ?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Grupo(m): 6:47pm On Nov 19, 2018
Dollypizzle13:

wawuu. I'm a newbie in cryptocurrency and I learnt that you can never lose your money and that if you do you'd still gain the amount back if not double. Is that true? And have you earned your money back?

I haven't recovered anything. I will advise you to be careful with anything cryptocurrencies o.

2 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by kehindetokode: 6:55pm On Nov 19, 2018
So I nvested into a wrong dude who lack basic understanding of integrity and in no time my money was history. I lost about 300k to that mutalab.

I also invested into cryptocutrency and the January 2018 bearish flow hit me hard.150k went that drain

But as a soldier I'll keep pressing and in no time I'm bouncing back by leveraging on my skills and knowledge.

I'm currently working on an agro-project that specialises in convertion of cassava Peel/waste into healthy livestock feed, this will make me a billionaire in 5-10 years time. Interested partners or investors can contact me at zoeinnovationxatgmaildotcom

9 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by LOVEGINO(m): 6:58pm On Nov 19, 2018
HardMirror:
wow!!! Seems mmm did a lot of people in. Whenever you get scammed dont bother fighting the scammer, learn your lesson and move on. I have never reported any case to the police. It does not worth it
best comment ever. We learnt from our mistakes and void everything to do with police. U ll live long bro.

6 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Nobody: 7:00pm On Nov 19, 2018
Cryptocurrency, it's not easy holding anything right now oh, I'm still buying more crypto assets even as it's all red grin. But my Biggest loss in business was 4.2m when I bought one usless ico Mtchewwwww.

Then oil, 1.4m when I bought dpk and lost.

4 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by richie9093(m): 7:00pm On Nov 19, 2018
karferguso:
I had a mild loss this year
I imported some iPhones earlier this year to reselll but mumu me did not do due diligence on their unlock status. I ended up buying 3 locked phones spent like 60k+ to unlock 2 of them. I sold the last one like that. All in all, I made loss of around 20k and that’s because I bought very cheap if not, I for hear am. But I understand that was a learning curve. Hopefully, I won’t make that kind of mistake again

Instead of going for the software unlock, you could have just bought a chip to be using on the iPhones.

a chip costs just ₦5,000 in computer village. and even cheaper sef if you buy in bulk (total cost would be spread to about ₦3k5 to ₦4k)

Anyhow sha, I'm sure you didn't know about that. We learn everyday

I have attached what a SIM chip looks like.

45 Likes 7 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by calliope(f): 7:01pm On Nov 19, 2018
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
Just wow.. This is very enlightening. Weldon Hahn

2 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by generationz(f): 7:02pm On Nov 19, 2018
Grupo:
Well, I have not lost much in terms of investment. Early this year, I lost about 44k in one bad crypocurrency investment. Although the money wasn't much, but it is still a loss.

I also lost another $159 to one of these American information marketers that litter YouTube. I had watched his videos on YouTube and he was making sense. Then I decided to pay for his course and it turned out to be rubbish.

please what's his name
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Phylergy(m): 7:04pm On Nov 19, 2018
Cryptocurrency wants to finish me ooo, I've lost over $200 in less than 48hrs

8 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by gentlegenius(m): 7:05pm On Nov 19, 2018
noble71:
mine was Interlocking business lost about 1 million there. my major problem was not getting proper knowledge of the business. when I came into the business interlocking was already facing out. Stamped concrete took over from interlocking. I have moved on though.
Which one is stamped concrete?
Abeg brief me... Because I am a novice here.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Neldrizzy(m): 7:11pm On Nov 19, 2018
Tallesty1:
I don't even know if I should call it a bad investment because it was more like a fraud. Ordered for recharge card pins worth millions and was supplied fake pins. Spent the rest of the money fighting them but didn't win. It was a very bad experience and it pushed me to below ground zero.

The second one was a woman, things were going bad for her then and she was good to me when I was struggling to feed twice a day. Like she knew I was going through a hard time. Gives me food and money every Sunday. So I gave her N350k to start food stock business, her husband convinced her to invest it in MMM. she lost everything.
shocking !!!! Sorry about that
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Martinez19(m): 7:16pm On Nov 19, 2018
ShenTeh:
Between my wife and I, lost over 12m in MMM.

Say what you like, but I have learnt my lessons.

2. My friend and I wanted to build a mini estate on a 6 full plot of land, based on speculation. Gave 2/3 the money for the purchase of the land to my friend. He was expected to add the 3rd and pay up. Kept in touch, did several trips, saw the land, secured it and had the plans drawn.

Two years later, the land was gone! Selling family told me, my friend payed for only ONE plot and never showed up with the balance. So, they have sold the land to someone else! We could come back by next week for the money we deposited!

My friend was there and sweating under a/c. Me, I couldn't breath properly. The land was already selling 3x the price we bought it 2 years ago.

We are still friends, but I am wiser.


.

23 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by karferguso(m): 7:16pm On Nov 19, 2018
richie9093:


Instead of going for the software unlock, you could have just bought a chip to be using on the iPhones.

a chip costs just ₦5,000 in computer village. and even cheaper sef if you buy in bulk (total cost would be spread to about ₦3k5 to ₦4k)

Anyhow sha, I'm sure you didn't know about that. We learn everyday

I have attached what a SIM chip looks like.
I know what a chip is, I actually sold one of the phones with one. But chip unlocked phones are sold cheaper and are in fact harder to sell than factory unlocked ones

5 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Godsfavour78: 7:22pm On Nov 19, 2018
Ranchhoddas:
A foolish Ponzi Scheme called TIG (Trust in God) chop my 10k that year. This was way before MMM. The thing pain me ehn...

Thunder go fire whoever open that thing. The worst part na Deeper Life people introduce me to that scheme.
is that why you no longer believe in God. cheesy hahahaha

3 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by beewhy009(m): 7:23pm On Nov 19, 2018
This is one of the very few threads I will read from start to finish... And I still keep on refreshing to learn more!

48 Likes 3 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Gaspardd(m): 7:24pm On Nov 19, 2018
homirefacuny:

I major in btc since most coins went mad grin I can't come and go and kill myself. Ripple almost sent me back to the village embarassed

You prolly do not follow charts, i use blockfolio and coinmarket app, i dont really day trade but its about entrying at d right time

3 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Ranchhoddas: 7:24pm On Nov 19, 2018
Godsfavour78:
is that why you no longer believe in God. cheesy hahahaha
Absolutely not!
I've even forgotten about the incident. This thread just reminded me of it!

2 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by lele007: 7:27pm On Nov 19, 2018
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

nice bait
Re: What Is Your Worst Business Investment And How Much Did You Lose? by doggedfighter(f): 7:28pm On Nov 19, 2018
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 th
em to profitability. Man never back down cool


That's the spirit.

4 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by symbian123(m): 7:29pm On Nov 19, 2018
1Ronaldo:
.Won't really call it business sha and also, am not d business kinda person...
I already contriburlted in the other thread.
And the lost wasn't too big cos I could do without it then...
Lost 50,000 naira from my account on betting on 2 odds... Over 1.5 man u vs sevilla first leg...
Next one was losing 40k last two weeks atletico Madrid vs Dortmund (gave Dortmund 2ahead)... This one was actually a rollover kinda money so wasn't as painful as d other one...

Tried selling my lenovo laptop to a friend for 80k.. He said he was gonna pay me in a weeks time but that I should first give him d system... Baba said system was stolen. Mum n dad said I should just leave him.


Modified: how can I forget Hernandez gaisha that duped me of 125,000 thousand last two months on fixed games.

Wow. So sorry for ur losses bro. Bet investments can be quite risky. Also lost a lot to rollover betting and regular ones. Huge sums.. Are u serious about Hernandez geisha been a scammer? I actually thought that guy is the only legit fixed game merchant have ever seen? Wow!

1 Like

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Wiinnd(m): 7:34pm On Nov 19, 2018
Grupo:
Well, I have not lost much in terms of investment. Early this year, I lost about 44k in one bad crypocurrency investment. Although the money wasn't much, but it is still a loss.

I also lost another $159 to one of these American information marketers that litter YouTube. I had watched his videos on YouTube and he was making sense. Then I decided to pay for his course and it turned out to be rubbish.
Hope it's not "BiG MARK"?
Re: What Is Your Worst Business Investment And How Much Did You Lose? by staffingx: 7:34pm On Nov 19, 2018
My first foray into business was way back when I bought a used taxi from a source that was recommended by my mechanic with the intention of giving it out to a driver to pay back gradually.

Suffice to say I never made 1 kobo from that car and ended up selling it back to the same mechanic that encouraged me to buy it.

It was my first bitter lesson in business cos I saved for almost a year to buy that car.

The lesson I learnt with that investment has served me well down the years.

Lesson Learnt: I DON'T INVEST IN BUSINESSES I KNOW NOTHING ABOUT...Aliko Dangote

38 Likes 2 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Hexzagon: 7:34pm On Nov 19, 2018
gift01:
Nigeria Stock Exchange, Poultry Farming,
Importation that didn't come in, MMM
all these we have in common except for the NSE which I am planing on doing a research on before I ventured next year. please can you shed light on your experience so I could learn from it if I eventually make up my mind.
Re: What Is Your Worst Business Investment And How Much Did You Lose? by lafex: 7:35pm On Nov 19, 2018
CaptainMitch:
I invested over 250,000 in fish farming and made a huge loss, I changed my mind about investing in agriculture, but I have recently gotten land and I am still thinking of what to plant.
pleasemake u do soil test to know how fertile the land is before u plant anything. This is what made me lost about 100k recently because I didn't know that the land I was farming on was not that fertile.
Good luck

9 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by IamaNigerianGuy(m): 7:40pm On Nov 19, 2018
ShenTeh:
Between my wife and I, lost over 12m in MMM.

Say what you like, but I have learnt my lessons.

2. My friend and I wanted to build a mini estate on a 6 full plot of land, based on speculation. Gave 2/3 the money for the purchase of the land to my friend. He was expected to add the 3rd and pay up. Kept in touch, did several trips, saw the land, secured it and had the plans drawn.

Two years later, the land was gone! Selling family told me, my friend payed for only ONE plot and never showed up with the balance. So, they have sold the land to someone else! We could come back by next week for the money we deposited!

My friend was there and sweating under a/c. Me, I couldn't breath properly. The land was already selling 3x the price we bought it 2 years ago.

We are still friends, but I am wiser.



Trust but verify

4 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by toysleek(f): 7:45pm On Nov 19, 2018
My hubby paid about #300k to rent a space for his lab, but the agent had already collected money from two other people before he ran off..All 3 wanted the space, he just had to let go..But he was so depressed and that took him some steps backward..

I lost in cryptocurrency...I also convinced my hubby to do mmm(200k), he was skeptical about it, but since i kept going on and on about it, he finally did and that was when it crashed.

Lessons learnt..

40 Likes 3 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Yoighaman(m): 7:46pm On Nov 19, 2018
Over the years, lots of millions in shares, cryptos and unobliviously football bets, with shares having the largest percentage. Lessons learnt: Never invest in speculation and businesses you have no direct control over.

23 Likes 3 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Tallesty1(m): 7:46pm On Nov 19, 2018
Neldrizzy:
shocking !!!! Sorry about that
Thanks bro
Re: What Is Your Worst Business Investment And How Much Did You Lose? by noble71(m): 7:48pm On Nov 19, 2018
gentlegenius:

Which one is stamped concrete?
Abeg brief me... Because I am a novice here.

The image below is an example of stamped concrete.

31 Likes 1 Share

Re: What Is Your Worst Business Investment And How Much Did You Lose? by Tallesty1(m): 7:49pm On Nov 19, 2018
doggedfighter:

You are indeed strong.
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.

34 Likes 4 Shares

Re: What Is Your Worst Business Investment And How Much Did You Lose? by khassy(m): 7:49pm On Nov 19, 2018
hahn:


My kind of person. I keep records too

You seem like a smart person and you are definitely on the right path smiley

Thanks

2 Likes

Re: What Is Your Worst Business Investment And How Much Did You Lose? by IamaNigerianGuy(m): 7:49pm On Nov 19, 2018
Phyde:
Credited a bitcoin dealer bank account of 23k and failed to credited my wallet.
Lose 40k to one online forum called esteemtraders.
Lose 135k to winthrills.
Gained 15k from Xpressinvestment before it crashed and Final Bet9ja put a smile on my face with 1.158m recently.

Evidently you like living dangerously and fyi none of these are investments; all are speculation and gambling. Good for you it turned out well in the end.

15 Likes 3 Shares

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