How much have you lost on a bad business idea?

[glitch]

I am not new to this. I have had a few ideas flop or I just left them as unfinished projects. The most of have lost or rather wasted was a few grand. Not a big deal and certainly nothing that I wasn't easily recovered from. I would never take a huge risk unless I knew the odds are in my favor of succeeding with it. This is why I don't like gambling.

How much have you lost on a bad business idea?

 

[Bousine123]

I once lost close to 15 dollars on a bad business idea, I tried to raise a local variety of pigs but I never knew one of them was sick, so it died after 4 days when we brought it home.

 

[Kane]

I do not think any business idea can be labeled as a bad business idea. How you approach the idea, whether you have the skills and knowledge to execute the idea, and whether you have the resources to work on the idea actually determines whether the idea is fruitful for you or not. Sadly, due to not having enough resources and skills, and knowledge. I have failed with multiple ideas.

 

[Skysaint]

I don't really know if it's a fault actually but I don't invest in a stuff that there's no high percentage of making returns or profits. Well, I have made investments in cryptocurrency that didn't really end well.

 

[stan358]

Many times people usually fall prey to scammers due to inadequate knowledge about a business and they loose money. People usually lose when they do not have good knowledge about a business they are into...

 

[Ja sa bong]

I've lost around $400 or $500 in a clothing business. I was pushed into the business as a result of FOMO which made me not doing my research well to know which clothes to buy into. Long story cut short, I couldn't sell what I've purchased. I had to give some of them out and started using some.

 

[stan358]

Most o

I've lost around $400 or $500 in a clothing business. I was pushed into the business as a result of FOMO which made me not doing my research well to know which clothes to buy into. Long story cut short, I couldn't sell what I've purchased. I had to give some of them out and started using some.

Most of the time I lose money through bad investment. The last money I lost was with cryptowin. It is a revenue sharing program. I spent about $200 buying some share which I never get paid before it went scam..

 

[Ja sa bong]

Most o

Most of the time I lose money through bad investment. The last money I lost was with cryptowin. It is a revenue sharing program. I spent about $200 buying some share which I never get paid before it went scam..

I heard about cryptowin but wasn't convinced to invest in it. I couldn't understand how everything works in the cryptowin, I had to stay out from investing in it. It turned out to be a wise decision because I would have lost money like you did.

 

[stan358]

I heard about cryptowin but wasn't convinced to invest in it. I couldn't understand how everything works in the cryptowin, I had to stay out from investing in it. It turned out to be a wise decision because I would have lost money like you did.

It was a good idea that you never invested in the business. But they remain legit for about three years and many people benefitted from cryptowin. Many people like me lost money with them..

 

[Ja sa bong]

It was a good idea that you never invested in the business. But they remain legit for about three years and many people benefitted from cryptowin. Many people like me lost money with them..

This is a similar occurrence with other scam schemes. They will begin with good performance which would convince so many other people to invest their money into the scheme. When they have enough, they will disappear.

 

[stan358]

This is a similar occurrence with other scam schemes. They will begin with good performance which would convince so many other people to invest their money into the scheme. When they have enough, they will disappear.

Almost everyone has lost money in scam projects on the internet. They will start on a good note but as times they begin to act very funny. It could be ponzi scheme or MLM scam..

 

[Ja sa bong]

Almost everyone has lost money in scam projects on the internet. They will start on a good note but as times they begin to act very funny. It could be ponzi scheme or MLM scam..

Yes, almost everyone has lost money in scam projects except for those who never invested in any of them. I know some people whom never took the risk, they are safe from it. The rest who couldn't resit the temptation either get lucky or unlucky.

 

[Good-Person]

I've lost around $400 or $500 in a clothing business. I was pushed into the business as a result of FOMO which made me not doing my research well to know which clothes to buy into. Long story cut short, I couldn't sell what I've purchased. I had to give some of them out and started using some.

I am not sure why you were pushed. However, I do not think that it would be wise to invest money in a business you have no idea about. I have no idea about clothing business. This is why I may never invest in this kind of business. People must never invest money in a business about which they have no idea about.

 

[Ja sa bong]

I am not sure why you were pushed. However, I do not think that it would be wise to invest money in a business you have no idea about. I have no idea about clothing business. This is why I may never invest in this kind of business. People must never invest money in a business about which they have no idea about.

FOMO means Fear of missing out. There are so many cryptocurrency investors who lost their investment and some who multiplied their profits by buying into FOMO - Fear of missing out. It was what pushed me into the investment.

 

[deucher]

I had a rather unsuccessful idea to earn money from the sale of smartphone cases, therefore, without understanding the situation in my region, I purchased goods for the amount of about 1000 dollars, which was approximately my salary for 2 months, and of course it turned out that the competition was very high and I could not do anything sell and so all my funds are stored in covers)

 

[Good-Person]

FOMO means Fear of missing out. There are so many cryptocurrency investors who lost their investment and some who multiplied their profits by buying into FOMO - Fear of missing out. It was what pushed me into the investment.

Well, I think that this is why a person should conduct proper research before they invest money. I can understand that many investors could have a fear of missing the opportunity to invest money. However, investigating and researching properly is quite important in order to avoid losses.

 

[Ja sa bong]

Well, I think that this is why a person should conduct proper research before they invest money. I can understand that many investors could have a fear of missing the opportunity to invest money. However, investigating and researching properly is quite important in order to avoid losses.

The fear of missing out won't allow you to think objectively when those investments opportunities are promoted. The way you're going to be seeing others rush into investing, you won't think twice about it and follow them.

 

[Frank]

The fear of missing out won't allow you to think objectively when those investments opportunities are promoted. The way you're going to be seeing others rush into investing, you won't think twice about it and follow them.

I don't know for the other person, but I am going to be careful when faced with that kind of situation. I will want to make a deep analysis of what the business that I want to invest in is doing. Once I am not convinced, I won't go ahead with it.

 

[Ja sa bong]

I don't know for the other person, but I am going to be careful when faced with that kind of situation. I will want to make a deep analysis of what the business that I want to invest in is doing. Once I am not convinced, I won't go ahead with it.

It's been a lesson I had learnt years ago when I made the mistake and invested because of the fear of missing out which I later lost my money. It would have been better I didn't invest, missed out on the investment but had my money in my account.

 

[Frank]

It's been a lesson I had learnt years ago when I made the mistake and invested because of the fear of missing out which I later lost my money. It would have been better I didn't invest, missed out on the investment but had my money in my account.

It is important to read more about business investments that promise you sweet deals. I mean deals that are too sweet to be true. I will just find a way to stay out of such a deal and let those that want to get rich quick invest on it.