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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.
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