What are ways in which you have failed at making money?

[aspkin]

I created a eBook called Six Figure Boss.

While it made money, it should of been more focused, instead of just being a general book of starting an online business. While it was useful and had lots of good ideas for those starting out, I found that people don't want a general idea book. They want a proven system. They want just one idea, that works, a blueprint they can follow.

I should have asked more questions before I started the multi year long project. The good thing is I got a lot out of writing it. I learned a lot about building a better business.

The reason it failed was because it was so broad, it was impossible to keep it up with rapid changes in ecommerce world. Instead of being a simple system a person could follow, it tried to cover everything. Jack of all trades, master of none.

I closed it down after I saw people wanted more than it could give and my focus shifted to other things.

I plan on using that content for the aspkin blog which I'm redoing currently. That will be fun.

[Play]

I really wanted to read that eBook (Six Figure Boss). Given how good your others were, I thought i'd learn a lot. Unfortunately I got there when it had closed.

None the less, I look forward to your blog though!

[Sunspot144]

Would definitely say college and in turn a job in the field. After graduating and feeling like I had been brainwashed to be a faceless pencil pusher, and upon my first skype interview by someone about my own age, I basically said 'nope, f*** this bull****' and dove into self-employment. They really liked my work but having built a 156k in sales business at a minimum 20% profit margin my first year I'm pretty content about that decision. Working 3hrs a day or less ain't half bad am I right? Amazon FBA is next.... sky is the limit

[rsot]

Originally Posted by Sunspot144

Would definitely say college and in turn a job in the field. After graduating and feeling like I had been brainwashed to be a faceless pencil pusher, and upon my first skype interview by someone about my own age, I basically said 'nope, f*** this bull****' and dove into self-employment. They really liked my work but having built a 156k in sales business at a minimum 20% profit margin my first year I'm pretty content about that decision. Working 3hrs a day or less ain't half bad am I right? Amazon FBA is next.... sky is the limit

Way to manage your time efficiently

[Auctionking]

Fba is not all it is cracked up to be. It has its place but not the only option. I did the corporate thing after college, not bad. But you have to do the math on what you make a day/month / year. One day it was no longer profitable to go to work. Same goes for selling, one day it might not make sense to do it, always have a plan B

[Sunspot144]

Originally Posted by rsot

Way to manage your time efficiently

Ty sir!

Originally Posted by Auctionking

Fba is not all it is cracked up to be. It has its place but not the only option. I did the corporate thing after college, not bad. But you have to do the math on what you make a day/month / year. One day it was no longer profitable to go to work. Same goes for selling, one day it might not make sense to do it, always have a plan B

Was fortunate enough to start selling something I also enjoyed doing in my free time, which literally all it entailed was buying one part of something then breaking it down into smaller parts and selling those. Took that business model and followed the bread crumbs on ebay so to speak and was luckily able to start sourcing from well established 20+ year old wholesalers here in the states. I'm fairly certain the markets have been around much longer than that. One has been around since my father was a kid even.

But yes, can see your POV, starting out you quickly realize ebay (and amazon) aren't the 'get-rich-quick' schemes they're portrayed to be by the sellers on youtube. I was completely fine with making $2 off of one sale that took 3 minutes to prepare and package. The next part to me was to start filling 50 orders for $2 (or some much more) adding up to ~3hrs/day, and at $100 a day I'd be making the same as (or more than) a starting position in my field. There are 5 more hours left to fill up with sourcing alibaba/chinese crap for amazon now. And if each product makes only $200/mo - who cares! 1) I don't have to fill the orders so no time wasted there. 2) Plenty of time to find 3.. 5.. 10+ other products at $200/mo and there already you've got 2k for a very minimal amount of effort.

But enough about that... thread is supposed to be about how you failed! Success through failure? Just reminds me of how failures make the best businessmen because they're not afraid of failing / taking risks. Best quote I've heard was "The A students report to the B students, the B students work for the C students, and the D students own the buildings." Lolol knowing my father's old general contractor it rings so true. Guy had a wicked temper but was richer than god.

[rsot]

Originally Posted by Sunspot144

But yes, can see your POV, starting out you quickly realize ebay (and amazon) aren't the 'get-rich-quick' schemes they're portrayed to be by the sellers on youtube. I was completely fine with making $2 off of one sale that took 3 minutes to prepare and package. The next part to me was to start filling 50 orders for $2 (or some much more) adding up to ~3hrs/day, and at $100 a day I'd be making the same as (or more than) a starting position in my field. There are 5 more hours left to fill up with sourcing alibaba/chinese crap for amazon now. And if each product makes only $200/mo - who cares! 1) I don't have to fill the orders so no time wasted there. 2) Plenty of time to find 3.. 5.. 10+ other products at $200/mo and there already you've got 2k for a very minimal amount of effort.

Right on - time

[burgereater]

I failed at Local Marketing Consulting for brick and mortar businesses! Now that I look back, I think the failure was directly related to my insecurity and being shy, not want to network and meet new people ... bad sales person! But at least I learned a lot of digital marketing skills from that effort, that led to a lot of other online opportunities for myself!