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Nairaland Forum / Nairaland / General / Business / What Is Your Worst Business Investment And How Much Did You Lose? (103315 Views)
How Much Did You Lose Trying To Return The Old Naira Notes To Banks? / Share Your Worst Business Experience / Share Your Worst Broke Moments Experiences In Life (2) (3) (4)
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Re: What Is Your Worst Business Investment And How Much Did You Lose? by Phyde: 6:08pm On Nov 19, 2018 |
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. 66 Likes 5 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Dollypizzle13(f): 6:08pm On Nov 19, 2018 |
egwekwe:Lol...how can I contact you? |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by oneluv11: 6:09pm On Nov 19, 2018 |
casspersteve:I'm sorry for d lost . but funny sha |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by homirefacuny(m): 6:10pm On Nov 19, 2018 |
movetoca:Hmm.. It's well with you bro. |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Perfectnumber6(m): 6:12pm On Nov 19, 2018 |
Hmmmm mine was going into a transport business bought a brand new Audi for a relative so he can be balancing me 10k weekly instead of the normal 12k, yet this guy no even balance up to 850k when I take buy the Audi, and now the vehicle don scatter within one year. Mehn relationship business too bad gaaan . 30 Likes 3 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Cassie74: 6:15pm On Nov 19, 2018 |
CaptainMitch: Fish farming is capital intensive and if you must make it in fish farming u have to harvest monthly.. U need like 5 ponds and over 2m if you want to make profit and enjoy it. I don't think 250k can cut 1k fingerings to table size. Sorry about your loss though 5 Likes 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Amoxdave: 6:18pm On Nov 19, 2018 |
movetoca: |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Cregon: 6:21pm On Nov 19, 2018 |
twlover: Howabout you use facility for microlivestock production? 1 Like |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Phred1717: 6:21pm On Nov 19, 2018 |
Forex..invested $3000. Got my capital back after much threat and confrontation 2 Likes |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Phonix1234: 6:21pm On Nov 19, 2018 |
Did a partnership business with someone here on Nairaland.. On Koso wood or called Rose wood, we started well but the day i allowed him to purchase and make supply, he bought the worse materia in the makert to supply to our customer,,,,, uptil date, he was only able to pay me 1.1m and my 1.8m still hanging till today..... My advise is, nva do business with a born again, bcus u may end up trusting them and dey will stab u at any given opportunity,,, the worse of it is that his parents are both pastors...... Lesson learnt,,, though am still suffring for that mistake. 62 Likes 3 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Sharmeenator(m): 6:23pm On Nov 19, 2018 |
This is a recent bad business experience I want to share. I believe one or two people will learn from it. It's a long story but I will try to make it short without losing too much details. I decided to start a side hustle in 2016; a cyber cafe, business center and payment solutions provider (e.g. IKEDC, DSTV/GoTV etc.). I got a big shop at a nice location, renovated it to look nice and comfortable. The shop was setup beautifully. Customers were given laptops to browse instead of the old PC everyone uses. We were getting positive feedbacks daily and motivations to grow bigger. To cut the long story short, everything was going on well and we were progressing and profiting there until the third month. My boy called me one morning that he met the door opened with no sign of forced entry. We later leant that my staff was careless with the key, someone must have smartly made a copy from the bunch he carelessly left on the counter. We changed the lock and upgraded the security. 5 laptops, router and money were stolen. Less than a month later, another burglary attempt was made. This time very forceful; the window was cut opened late in the night and the burglary removed. The most unfortunate part was that no one confessed to hear a sound from the removal (which I'm sure couldn't have been done silently) in the dead of the night. The landlord, a pastor in the church that separates the shop from the resident building wasn't so bothered as no one in the house and his family was targeted. More laptops and money were carted away. I pleaded with the landlord to allow me to get an "aboki" to stay there at night so he could watch over the shop as the security guards we pay to secure the area are as useless as used diapers. He refused citing religious differences. I was forced to involve the police this time despite hating the idea in involving our men in black. I paid 10k and nothing was done. Detective assigned asked me to investigate personally and call him when I 'catch' thieves I didn't care, we did some diggings and suspected 3 guys; popo man was called and he said he has closed for the day. The following day when we called him again, he lied he was coming and later cancelled the appointment citing official duty despite having tactically delayed one of the suspects. I have sworn never to involve Nigerian police in my affairs again Almost a week later, a third attempt was made and it became clear we had to leave at least for the sake of our lives. We used less than 6 months there and all these unfortunate events happened within 2 months. We left hastily for another shop not far so we could continue where we left. This decision marked the worst I have ever taken. The new shop, although smaller showed signs of success, so I thought. We renovated it and moved in almost immediately hoping that business would be better there especially with the planned inclusion of Bet9ja and PS2 Gaming. Bet9ja bursted my bubble by not approving the shop, mistake number (I can't tell again). I tried Winners Golden Bet, they answered my prayer but cut it short later when they retrieved their license citing a mistake from them as there was another WGB center not too far off which they didn't noticed earlier. Maybe I would have been given notwithstanding if I had a good connection. I had to settle for Surebet247 which checkmated me to defeat. Business was over dull in the new environment (no pun intended). Light was over bad (they only have light during our closing hours). We buy fuel of almost 2k everyday despite not making up to 2k (it's that bad) daily. I was practically financing that place with personal money; paid my two staffs from my pocket every month. We did only four months there as that was how far I could personally sustained the business. I sadly laid off my staffs, locked the shop till when my rent expires which was in February this year. I sold off most of the items I didn't give away at ridiculous prices as there was no place to keep them. When I sat down to count my losses, I calculated a loss of 1.6 million (which is surely more than that). I haven't recovered from the unfortunate incidents having spent all my savings. I'm married now with a child this year but I have fallen flat into the same rat-race I was avoiding by attempting to open another stream of income. I will rise, I will fully recover and charge forward. 203 Likes 14 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by egojeny1(f): 6:24pm On Nov 19, 2018 |
zicoraads:Chai! Sorry dear. It is well with u IJN 2 Likes |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by freemi(m): 6:26pm On Nov 19, 2018 |
bet9ja |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by NCANTaskForce: 6:28pm On Nov 19, 2018 |
Dogs, The idiot I contracted to take care of them was nonchalant about it, I lost close to 700k on 4exotic breeds of dogs 21 Likes 2 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Amiblaize77(f): 6:28pm On Nov 19, 2018 |
Niyi9002: Though I still have the intention of farming but I'll have to be there and extremely vigilant 4 Likes 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Amiblaize77(f): 6:30pm On Nov 19, 2018 |
Buffalowings3: I tell you but have recovered from the loss, Already making preparations for another 1 Like |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Bigfellas(m): 6:31pm On Nov 19, 2018 |
Well we have all made some tough decisions at one stage or the other due to inexperience. I have always wanted to go into farming as a business so back to 2017, my friend informed me about how we can lease acres of land and plant cassava for a year and then sell it for profit. I leased 10 acres and decided to give it a try. Then we faced the issues of labourers to work on the farm. We both got duped and I lost close to 1.5m within a year. I had no idea at all and we got used by the locals around. The good thing even though I lost the capital,I gained a lot of experience going forward and I was only able to make 200k from my investment. The good thing is I can start all over again, this time with a whole lot of experience. from all my calculations, I won't be spending more than 300k as expenses with the right hand working on my farm. I believe I will recover all my losses in a year or 2. Farming is really profitable only when you have got the experience. Don't just rush into it 30 Likes 3 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by siverspooon(m): 6:31pm On Nov 19, 2018 |
Educative thread i think d mods are gradually getting back to their senses 4 Likes 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by collins07(m): 6:31pm On Nov 19, 2018 |
Gaspardd:I think we that does crypto should hang out on a forum to brainstorming and and share idea cuz as for me I love crypto.though have made some lost but,there is always hope of making it big with good strategy and shun greed.u can check my profile for contact. 1 Like |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by egat: 6:31pm On Nov 19, 2018 |
Love your fighting spirit bro##### hahn: 1 Like 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Bamz(m): 6:32pm On Nov 19, 2018 |
I feel money will always somehow come around if you don't relent, relationships however. People can/would still be a jerk no matter how hard you try to be nice. Mine was time and emotion wasted on something I thought would develop into a blossoming relationship. Badly enough, I can't quantify 2+ years and fits of emotional torture. 12 Likes 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by Elxandre(m): 6:32pm On Nov 19, 2018 |
khassy:What's Bawa? |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by nonut: 6:32pm On Nov 19, 2018 |
33 Likes 3 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by spiritedtete: 6:33pm On Nov 19, 2018 |
sandra50: My wife is me ... I am my wife... We share absolutely everything. Apart from side chick lol 22 Likes |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by MrCuteking(m): 6:33pm On Nov 19, 2018 |
hahn: Hello boss, please can you help me with how to generate income from a website? Please help me, I don’t mind earning that 5k you earn please whatsapp me. |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by egwekwe: 6:34pm On Nov 19, 2018 |
Dollypizzle13: I've sent you my whatsapp no via email |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by karferguso(m): 6:35pm On Nov 19, 2018 |
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 24 Likes 1 Share |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by sandra50(f): 6:38pm On Nov 19, 2018 |
spiritedtete:Lol..very funny.why can't share side chicks?you are one after all. |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by lenghtinny(m): 6:40pm On Nov 19, 2018 |
sekundosekundo: One sad lesson I learned recently is that when it comes to business and money, there's nothing like friends and family..... 32 Likes 4 Shares |
Re: What Is Your Worst Business Investment And How Much Did You Lose? by doggedfighter(f): 6:45pm On Nov 19, 2018 |
Tallesty1:You are indeed strong. 1 Like |
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