How much have you lost on a bad business idea?

[Ja sa bong]

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.

The business which I invested in wasn't a scam. It was a different thing which was a clothing business. I didn't know much about. It was Turkey wears. It was promoted so much and it appeared everyone was going into it. I decided to invest $400 in it but couldn't sell any of mine. It's how I lost in the business.

 

[Frank]

The business which I invested in wasn't a scam. It was a different thing which was a clothing business. I didn't know much about. It was Turkey wears. It was promoted so much and it appeared everyone was going into it. I decided to invest $400 in it but couldn't sell any of mine. It's how I lost in the business.

It was not a scam, but it was a business that you have very limited knowledge about, which is wrong. It is always advisable that you make investments on businesses that you have studied to see the challenges that can arise in it and also how you can navigate around such businesses too.

 

[stan358]

I have lost money in some online business I have involved myself. Many times they are ponzi scheme. The last one I lost money was an online revenue sharing website. I bought some shares and they turn scam and I lost my money.

 

[Good-Person]

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.

This is exactly what happened to me. I was thinking that the company tends to be quite reliable because apparently it seemed like the company is a registered firm and they would never scam people. However, they looted people after they build the trust of many investors. This is their way of looting and scamming people.

 

[Ja sa bong]

This is exactly what happened to me. I was thinking that the company tends to be quite reliable because apparently it seemed like the company is a registered firm and they would never scam people. However, they looted people after they build the trust of many investors. This is their way of looting and scamming people.

These scams companies catches their victims when they are at the weakest. I was desperate to start something when I was introduced into their scheme and I fell into their trap. If I wasn't desperate, they will find it impossible to convince me.

 

[Heatman]

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?

I have been a victim of ponzi scheme in my country on multiple occasions but the biggest of them was called MMM. I lost over $2000 in the ponzi scheme. I had all hopes on the idea of investing in it but it ended up being a bad idea and that's how I lost.

 

[Ja sa bong]

It was not a scam, but it was a business that you have very limited knowledge about, which is wrong. It is always advisable that you make investments on businesses that you have studied to see the challenges that can arise in it and also how you can navigate around such businesses too.

Yes, I know it was the mistake of my own which I'm to be blamed wholesomely because I went into the business with external influence of other people doing the same thing without knowing how to do it right. I learnt the lesson in a hard way.