What Was Your First Business That You Run Loss?

Moni

Verified member
What was your first business that you run loss? We sometimes make a mistake in life but that must not stop as from try different ideas of making money in life. I always like motivational quotes because when I'm weak it still strengthen me. I started my own farming business after I completed High School.
I made a green beans farm but that time I was having a little idea because I was taught by a friend in the school and the way he explained things to me and how I can get money from it, in fact I taught I will be the future billionaire after the farming.

I quickly jumped into conclusion but trust me the whole thing was different all together and I don't know whether I did not do it in the correct season or that is the way it is. The beans grew well and was so fruitfully I harvest more beans but couldn't make money out of it because I did not get customers to buy. All I could do was to give it to people who like for free. I run loss completely not even my laborers fees land renting fees. Business must be start at the right time, right place and to right people.

Can you also share your first business your run loss?
 

Wisdom01

VIP Contributor
My first business then was selling of soft drinks ,and then I run at a loss because the demand in my area was not high and most times friends could take drinks without paying very fast , causing me more bad debt I just have to quit very fast I think too
 
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Moni

Moni

Verified member
My first business then was selling of soft drinks ,and then I run at a loss because the demand in my area was not high and most times friends could take drinks without paying very fast , causing me more bad debt I just have to quit very fast I think too
Sorry my dear but you don't have to run a new business in that way although friends will say you are too stingy or something like that but they will never thing is a investment business that need to grow. I think you have to be vigilant next time at times if you bring culture in you business you will run loss
 
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Wisdom01

VIP Contributor
Sorry my dear but you don't have to run a new business in that way although friends will say you are too stingy or something like that but they will never thing is a investment business that need to grow. I think you have to be vigilant next time at times if you bring culture in you business you will run lo
Exactly when you did not give them as they ask , they would think you are selfish to the core not knowing that you need money to continue to buy the product you are selling , but next time I would be very vigilant just incase of anything I think so such won't happen
 
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Augusta

VIP Contributor
I'm yet to run a business at a loss though I haven't for now gone into something large scale but I hope when I do, I should be able to make good money and not loss. For yours maybe you mis-cslculated everything that is why you were at a loss totally
 
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Moni

Moni

Verified member
I'm yet to run a business at a loss though I haven't for now gone into something large scale but I hope when I do, I should be able to make good money and not loss. For yours maybe you mis-cslculated everything that is why you were at a loss totally
Maybe you are right because at that time I was in school as my friend introduced this green beans farming business to me and I was having small idea about it. I did not plan for the season as you are saying I just thought it could be done at any time which I was totally wrong.
 
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funmi

Verified member
My first business that I did and lost was a farming business and corn and cassava precisely. I joined my money with someone and we gave money to my cousin who happens to have into the business of farming since birth. But unfortunately, when we harvested the corn and sold to suppliers the remaining money was not enough for me and my business partner to share. And we later sold the cassava prematurely to just get some amount of money back. But we didn't get up to the amount we used for investing in the business.
 
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kayode10

VIP Contributor
I was a bit lucky because I I succeed with my first business venture. when I was still in secondary school I usually set up a football competition during the long term holiday. Lots of football clubs usually enrol for this competition. I make money selling the forms, yellow card and red card fee.
 
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