My Mistake as a young entrepreneur

[Ralphjoe]

It just came to my mind to share my personal experience of my mistake as a young entrepreneur. I will keep updating this thread because its a long story which I will like some few entrepreneur to learn from and which I have learn along the way.

As an undergraduate in school then i was able to obtain a job at a company (oil and gas in particular), but last year something came up which led to our termination in the job. I'v been with this company for the past five years. The first two years I spent I don't really know what to use the little stipend I got from my savings. I don't know what to use it for. I borrowed people and never collected the money back.
So last year came I decided to do something with my life.😋 which was fowl rearing, i started with 50little chicks, already counting my profit because I use my salaries to feed them then the termination came, I couldn't afford the money for feeding and drugs, and they started dying one after the other.( a painful experience I will never forget). Then I realize I'v not been saving. Thinking that I can never have issue with my job( because I have a relative brother as one of the board at the company).

LESSON LEARNT INCOMING SOON😊😊....

I am very happy that you might have learnt your lesson from this mistake that you made why you were in school and for the fact that you will not repeat this mistake again is quite a good thing. You sharing this story as actually make me to learn a lot from it and I'll be sure not repeat the mistake that you have made.

 

[Dowenship]

I am very happy that you might have learnt your lesson from this mistake that you made why you were in school and for the fact that you will not repeat this mistake again is quite a good thing. You sharing this story as actually make me to learn a lot from it and I'll be sure not repeat the mistake that you have made.

OK... good,
I'm so happy that you are able to drive out some lessons from my story and truly i tell u today, I'm stronger and more better than then, that's why i appreciate it when i remember.

 

[Justin]

One of the mistakes a lot of people commit is starting a business without enough financial backing. They are in such a hurry that they start with little funds.

 

[babdud02]

It just came to my mind to share my personal experience of my mistake as a young entrepreneur. I will keep updating this thread because its a long story which I will like some few entrepreneur to learn from and which I have learn along the way.

As an undergraduate in school then i was able to obtain a job at a company (oil and gas in particular), but last year something came up which led to our termination in the job. I'v been with this company for the past five years. The first two years I spent I don't really know what to use the little stipend I got from my savings. I don't know what to use it for. I borrowed people and never collected the money back.
So last year came I decided to do something with my life.😋 which was fowl rearing, i started with 50little chicks, already counting my profit because I use my salaries to feed them then the termination came, I couldn't afford the money for feeding and drugs, and they started dying one after the other.( a painful experience I will never forget). Then I realize I'v not been saving. Thinking that I can never have issue with my job( because I have a relative brother as one of the board at the company).

LESSON LEARNT INCOMING SOON😊😊....

Well it’s a good thing that you’ve also learned from your mistake and you just have to move on now.I believe one thing or two has also happen to everybody that have make us to wise up

 

[Ralphjoe]

Well it’s a good thing that you’ve also learned from your mistake and you just have to move on now.I believe one thing or two has also happen to everybody that have make us to wise up

I believe next time you will not borrow people you're hanging without them signing any legal agreement document that will be binding on them so compel them to pay you your money or you can see some of their assets to sell and recoup your money.

 

[Dowenship]

Hmm....its not our fault you know, we venture into a business without financial backing because we felt the idea if the business will bring profit immediately.

 

[Josemendez]

I too was not able to start up skill acquisition in school back then despite seeing many of my friends learning one skill or the other then .

 

[Alexandoy]

Hmm....its not our fault you know, we venture into a business without financial backing because we felt the idea if the business will bring profit immediately.

I know of many young people who made a start up and would close shop after a month or so. The common cause of failure is the lack of capital and secondary reason is the lack of knowledge on the business. Those young people think that starting up a business is just a game.

 

[Richard92]

Over the past year, I’ve met various numbers of young people who chose to go the entrepreneurial route after high school rather than attend college.

I’ve seen students come right out of graduation with unparalleled passion and ideas about building a business. These young entrepreneurs are leading the way toward an economic future that has yet to be seen.

Although building a business at a young age is exciting, I’ve seen some critical mistakes in this space.

Here are five mistakes young entrepreneurs tend to make along with some tips that can benefit you and your startup.

My mistake as a young entrepreneur is failing to plan before I went into the business this was one thing that made me fail and it was very hard for me to come back.

 

[kay169]

This is one common mistake people make especially for a business as demanding as this when profit comes people tend to lose their interest in reinvesting and giving back to the source

 

[jeff87]

It just came to my mind to share my personal experience of my mistake as a young entrepreneur. I will keep updating this thread because its a long story which I will like some few entrepreneur to learn from and which I have learn along the way.

As an undergraduate in school then i was able to obtain a job at a company (oil and gas in particular), but last year something came up which led to our termination in the job. I'v been with this company for the past five years. The first two years I spent I don't really know what to use the little stipend I got from my savings. I don't know what to use it for. I borrowed people and never collected the money back.
So last year came I decided to do something with my life.😋 which was fowl rearing, i started with 50little chicks, already counting my profit because I use my salaries to feed them then the termination came, I couldn't afford the money for feeding and drugs, and they started dying one after the other.( a painful experience I will never forget). Then I realize I'v not been saving. Thinking that I can never have issue with my job( because I have a relative brother as one of the board at the company).

LESSON LEARNT INCOMING SOON😊😊....

I could feel what you feel in sharing your experience. What happened to you is very unfortunate. I hope you are now okay and in good condition. I have experienced rearing native chickens in my place. A chicken disease breakout that 2 hens were left in the backyard. I started again from the two until it grows to a hundred.

 

[Dowenship]

I know of many young people who made a start up and would close shop after a month or so. The common cause of failure is the lack of capital and secondary reason is the lack of knowledge on the business. Those young people think that starting up a business is just a game.

You are definitely right because what lead to the failure of tge particular business was because if having inadequate knowledge concerning the business and its doesnt work that way.

 

[Funky]

Who wears a cap doesn't wear a head, who wears a head doesn't wear a cap, it's an old adage my parents use to say about how most of us squander the little things we have that we don't know is very important.

 

[Lordfalcao]

Nobody, absolutely nobody is above mistake just as long as you learn from your mistake you know as tgey do say a mistake is a lesson learnt and also to correct the future.

 

[Hena101]

Thank you for sharing your experience with us here, but you to know that mistakes is inevitable in business but the most important thing is we should always learn from and move on when we failed. I always advice anyone that want to start any kind of business or investment to save money before starting it.

 

[Good-Person]

There are many young people who make mistakes due to the fact that they might not be experienced enough to carry out business. This is a common problem. However, with the passage of time, they tend to get experience and learn from their mistakes. This is a sign of a good businessman.

 

[Psalmseen]

There are lots of mistakes that entrepreneurs make. One of mistake is expecting profits during the first year of starting the business. Don't expect profit and try your best to make it big during your first year as well

 

[Fizzy_boi]

Actually it's definately worth it seeing everyone sharing mistakes they made being a young entrepreneur and they have all learnt well from the mistakes they have done at all cost.

 

[Kane]

I was 21 years when I started a business. I partnered with friends, but sadly my friends left and I was left alone to pay the debt. I learned a lesson, never to invest in business without having a lot of money

 

[Kelly5]

There are times and seasons when it appears that we seem to be having money from almost every corner here and there. We. Should be very careful how we spend such monies on such unusual rims to not regret later