My Top 3 Worst Idea’s For Making Money…

This post is inspired by a Respected blog i follow owned by Neil Partel. I love being an entrepreneur, the thrills, challenges and the feats as well as the whole idea of delivering service in exchange for cash is what drives me.

Often times, individuals do ask me about my secrets of success…and i simply replied that the secret is simply: Trying, Trying and trying until you find what works.

While i have been a successful home based Business Manager, running to Millions in Turnover, i have also had my own share of Business ideas that failed. I am therefore going to share 3 of them with you….

So here we go;

1. A Jet Tech Coy - My first innovation dated back to when i was in high school. I was quite good with messing about with electronics ( i guess that curiosity helps in my addiction for computers). I’d unscrew the Living Room Tv, try to find out what makes it works. I’d bring out the Radio Diagram in my physics texbook and try to compare it with the Radio in my room. I built an helicopter that could move about and also Radio Recorders as well as a Door alarm. I tried marketing some of my tech works and did sold a radio recorder to a school mate at N50. That was 13 years ago. The problem was that, my products were reinvention of existing products, and they were not neat.My only customer simply bought from me because he was fascinated that i could go the extra mile to work hard on this.

2. Nigerian Portal Page - Sometimes in Early 2004, i discovered the internet on a full scale. At that point, i found out that i could make money on the internet, i decided that i’ll start my own portal which will have chat applications, news, applications as well as a forum. I had it setup using a CMS based on Joomla. I launched the website, and then drove traffic to it, however the traffic was not sticky. I later discovered that portals were losing their grip on internet users. Blogging was the rave of the moment. I did have a coder friend who lives in Mountain View (U.S.A) who advised me to change to a blog instead. That was how Naijabrains.com was birthed. I was trying to build a website that had outlived it existence…and worst of all, i am trying to learn to make money with it.

3. I invested Quite heavily into a webhosting business and never really got it off ground. While quite a lot of my colleagues have ranted on the ease with capturing the African market in the area of delivering webhosting to Nigerians. The problem started from trying to get other individuals to manage it and hence the failure. A new startup needs the drive and vision of the founder…and thats why their input is always needed. I ended up losing hundreds of Thousands of Naira on this, irrespective, i learnt a lot of Good lessons.

Conclusion:

While i have had many successes, it has not come without its own share of failure too. My point is that, you’ll definitely come up with some ideas, some that you’ll consider off the hook, others will soiund foolish, however you’ll fail a lot. This is a good thing as you’ll get more and more experience. Lastly, most of the foolish ideas have come up with are the ones that ended up becoming a profitable venture.

PS: You can visit Jeremy Shoemoney for more bad business Idea or Click Here to Read about Neil partels Own Failures Too.