What is your biggest mistake in business?

[King Belieal]

As business persons, we are not immune to making mistakes in business. It might be from the end of production or decision making or even marketing.

What is the biggest mistakes that you have made in business? What factors led you to make those mistakes?

 

[Fidelia]

My biggest mistake in business was trying to serve all the niches in my business. I just kept on making losses till I niched the business.

 

[Starmix]

One biggest mistake in my online business was allowing a customer to open the parcel despite having not paid yet thru COD. It was only a gimmick of the buyer but the truth was she refused to pay her order. She was black listed.

 

[Min George]

One of the biggest mistakes that people make in businesses is trusting customers to give them products on credit and they don't pay.

 

[neku]

Investing a large amount of money in premium domains was a mistake, advertising revenues have reduced, renewal fees have increased, top tech, internet companies are openly involved in a financial fraud, falsely claiming that government employees who do not pay expenses own the domains of a private citizen.

 

[eLdavis]

My biggest mistake so far in business was not getting a mentor to help me out. I had to learn a lot of things the hard way, and what actually made it worse for me was that when I do ask for help these people are not willing to explain better for me to understand.

 

[magnus2022]

My biggest mistake is starting a business in a wrong location that have no market value for my products. This single mistake cost me over seven hundred thousand naira. Before i realize the mistake, it is very late. Strategic location is the most important aspect of every lucrative business.

 

[King Belieal]

My biggest mistake is starting a business in a wrong location that have no market value for my products. This single mistake cost me over seven hundred thousand naira. Before i realize the mistake, it is very late. Strategic location is the most important aspect of every lucrative business.

Sorry for that loss. I always tell people that if they can't find a strategic location for their business ideas, they should not just start it.

 

[Kross]

My biggest mistake in business is employing a staff without tracing her to her parents and guardians. She ran away with my business capital and tools.

 

[Min George]

My boss made a mistake of investing in an agricultural project that didn't have professional farmers and the farm failed woefully.