My Mistake as a young entrepreneur

[YERUS]

What an experience.
Inability to save money is one mistake many people get to regret about.
I can remember not saving enough during my youth service. There was a program i wanted to run after that which i could not because the money required was not there.

 

[Skysaint]

Well, I would say that it's all part of experience. No one knows it all so at some point in life we do make mistakes out of ignorance, the most important thing is that we actually learnt our lessons. Sorry for the bad time you experienced though

 

[kinqzbitz]

Well like they say, experience is the best teacher and you have learnt from it,if you had started the business earlier it would have profited you a lot and also you didn't save

 

[Ghost1]

Just went through the whole story. It's touching, in such jobs if one is lucky enough to get the opportunity you should be able to save as much as possible, cos you never can tell when they'll wake up one day and decide to let you go

 

[YERUS]

Yes. It is good a lesson was taken from the experience.
I made the mistake of not taking up investments earlier like some of my colleagues did.
Right now, i am still trying to meet up in that aspect.

Most business people make the same mistake.
Its a nice thing you learnt from it.
The mistake I made was loosing prospective customers because I didn't know how to handle the ones who had difficulties paying for their services on time.

 

[greenie]

Thinking that the World is easy and all is well. Every young entrepreneur is liable to numerous mistakes. It could be accountability, it could be the issue of youthful exuberance and also love spending. This it's not to discourage young entrepreneurs but to let them know the realities of life and things that they will face ahead.

 

[Smiles20]

It is even a very good thing that you have learnt your lesson very early. I believe that people should learn how to invest money and not just depend on the money that they are collecting a salary every month because that is not sustainable.

 

[Sotherefore]

That is why proper understanding is always very necessary before one has to establish a business, the same thing also happened to us here, and according to the information it could be as a result of improper management and possibly it could be as a result of infection that could have been prevented.

 

[tyrim88]

Mistake is bound to happen in life to anyone. However as a young entrepreneur I failed to avert my mind to the fact that bad debt can run your business to the ground. A lot of persons are not credit worthy. Also I expected too much too soon from my business.

One thing that can happen to any new business is on the issue of knowing how to handle debt from customers,the quest to sell your product and restock,can make one to start giving out his product on credit.

 

[Sincerem]

Every big time entrepreneur or business owners all once or numerous times in their journey as entrepreneur made some really terrible mistakes. The best thing to do is learn from your mistakes and become better at what you do.

 

[Shigobad20201]

One thing that can happen to any new business is on the issue of knowing how to handle debt from customers,the quest to sell your product and restock,can make one to start giving out his product on credit.

You are right , the main issue we have as a new business that's managing customers and don't want the customers to leave , most of them use the opportunity to keep buying things on credit which always affect the business.

 

[tyrim88]

You are right , the main issue we have as a new business that's managing customers and don't want the customers to leave , most of them use the opportunity to keep buying things on credit which always affect the business.

That is just the truth,because as a new entreprenuer,what we do not understand is that,it is not how much of a product you actually push out,but if one is constantlly restocking without having to incure debt from defaulting customers.

 

[Setho]

I believe that you must have certainly learnt your lesson from all that has happened and I am particularly happy that you have shared it to others. This is going to at least prevent a lot of people from making the same mistake.

 

[Shigobad20201]

Sharing some news to other people most especially the young entrepreneur will help them to know the right from wrong and it will prevent future bad occurences that might happen .

I believe that you must have certainly learnt your lesson from all that has happened and I am particularly happy that you have shared it to others. This is going to at least prevent a lot of people from making the same mistake.

 

[Sincerem]

This is bads. Since poultry business is a profitable business , I will look for people here in my location to get money at least for the feeding process because I am very sure of returning it if those chickens are healthy and I sell it for profit.

 

[Joseph555]

is important to be more prudent and judicious with money we earn no matter how little it may be. I think you should have started your poultry business sooner when you still had the income coming in.

 

[frederick_9]

Many times, business owners believe they must immediately raise outside funding.
However, the truth is that you're much better off starting off by funding your firm with modest sums of money.

 

[Eli342]

They put no money down and finance a $90,000 BMW M4 for 84 months at $1,700 per month. Greetings from the vehicle poor. Almost anyone with a job can get a car from BMW Financial that is far more expensive than they can afford. No more than 10% of your net income should be used for your car payment. It might sound funny but once business start booming for us youngsters we start feeling the need for public approval.

 

[Shigobad20201]

As a young entrepreneurs, You will be full of energy and strong , you will want to set a big goals and acheive your aim faster and that will makes you want to try every business opportunities in life which sometimes might be dangerous .

is important to be more prudent and judicious with money we earn no matter how little it may be. I think you should have started your poultry business sooner when you still had the income coming in.

 

[Sotherefore]

Sorry about the whole thing. this is not always a funny experience . I could remember when I and my sister then we establish a chicken farming. The same was also exactly what happened to us just that we didn't know how to treat it even when we had the money.