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October 24, 2016

[Video] What was your biggest business fail and what did you learn? – Bobby’s Minute, ep. 33

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Well, I tried something in an area I knew nothing about. And it failed :)

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Transcript:

What was your biggest business fail and if/how did it affect you in your next projects? About 12 years ago I started a real estate company. It took me about eight months for me to close the company and I’ve done that in a period where real estate was booming. It was 3-4 years before 2008 so everybody was making money in real estate.

Well, I didn’t. And I’ve invested a little bit of money there and I lost it basically all and what I learned is that i need to do business in an area where I’m really interested in, where I like to be.

And this is how I, basically, in 2005, decided that no matter what I do I’m going to do it online, because I wanted, I liked doing things on the internet and I started doing something in 2005.

Freelancing and so on and then I grew my business from there. So it was the biggest lesson I could learn from a failed business venture: do something in an area where you want to be and you are good at it.

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