- Joined
- Dec 4, 2022
- Messages
- 74
Rep Bank
$620
$620
User Power: 222%
Satinaa.com , worked on it non stop for 1 whole year and gave it EVERYTHING. now I'm desperately trying to liquidate whatever I have left , the TWO main reasons it failed , and NO BOOK TOLD ME
1. Manufacture f*cked up a batch of orders
2. Linked to 1. , we ran out of cash.
I did my calculations and estimated $3,000 , for this project , and we are over $10,000 now... most of the losses are from the failed products , influencers scamming us , ads not converting , product being returned... all these side issues literally gave me death by 1,000 cuts.
i have learned SOOO many more lessons that no book could ever teach , with finances , and building a team , and managing PEOPLE.
no one told me how to make systems , no one told me how to manage cash properly...
These are things to be awareof as you start a business.
I don't feel emotional at all , I feel a burden off my shoulders, I am VERY VERY grateful for everything I have learned , I cannot even imagine for only 10k , I have SOOO MUCH knowledge and experience , really Its very good to fail.
-----
My plan is now to focus on my dads construction business and scaling that in Iraq , he's been stuck at $1M for 10 years, mainly because he hasn't scaled it. On the good side, I've learned almost everything I needed , and now all my knowledge I would learn in these next years , is all gonna be SPECIALTY skills , all about construction , and becoming a expert in my industry
hope this helps anyone thinking of starting a business
whatever yous costs are , times that by 5 and you'll be safe , nothing will ever go to plan , everything will always go wrong , its part of the game , you must be prepared.
1. Manufacture f*cked up a batch of orders
2. Linked to 1. , we ran out of cash.
I did my calculations and estimated $3,000 , for this project , and we are over $10,000 now... most of the losses are from the failed products , influencers scamming us , ads not converting , product being returned... all these side issues literally gave me death by 1,000 cuts.
i have learned SOOO many more lessons that no book could ever teach , with finances , and building a team , and managing PEOPLE.
no one told me how to make systems , no one told me how to manage cash properly...
These are things to be awareof as you start a business.
I don't feel emotional at all , I feel a burden off my shoulders, I am VERY VERY grateful for everything I have learned , I cannot even imagine for only 10k , I have SOOO MUCH knowledge and experience , really Its very good to fail.
-----
My plan is now to focus on my dads construction business and scaling that in Iraq , he's been stuck at $1M for 10 years, mainly because he hasn't scaled it. On the good side, I've learned almost everything I needed , and now all my knowledge I would learn in these next years , is all gonna be SPECIALTY skills , all about construction , and becoming a expert in my industry
hope this helps anyone thinking of starting a business
whatever yous costs are , times that by 5 and you'll be safe , nothing will ever go to plan , everything will always go wrong , its part of the game , you must be prepared.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
