Share your business failure experience and what you have learnt from it

[Ralphjoe]

The very act of running a business can be a very daunting task as lots of people fails multiple times in their attempt to start a successful business that will stand the test of time. Sometimes it's good to start a business and fail than not starting a business at all. Starting a business gives you an egde over other people that hasn't started anything yet and it gives you the confidence that you can start something great later in life.

Businesses gives much experience to their owners in the area of managing a business and thus it's very important that a person starts a business regardless if it fails or not, if it fails, you learn your lessons and pick up from there to start another business till you find that business that you are very good at. Many people have failed in their first attempt at starting a business but later started another business that they excelled in.
So guys feel free to share your experience about that business that you failed in and the lessons it has taught you

 

[Augusta]

Yeah, my first business wasn’t just funny because I couldn’t even manage it up to a year and it packed up. I think I was just going for what wasn’t my passion or drive. I just see people going into data business and I follow suit but I didn’t last at it. I think the problem with me was impatience. I gave up easily to a lot of things including this first business of mine. Business really needs patience to be progressive.

 

[Seyesystem]

When we fail in business or whatever it is life is teaching us a lesson. What’s the difference between those who are successful in life and those who are not? The successful ones learn from their failures and follow those lessons, while the losers end up doing the exact same thing, or nothing at all. This can be related to anything that you do in your life. So in business you have to learn from the decision you made that lead to the failure of the business and to put it in mind not to make the same mistake.most successful business in the world has failed in one way or the other but what makes them to be great is the ability to learn from the mistakes. It is always good to learn from where we failed and keep it in mind in order not to do the same mistake.