What is your personal dumbest business decision ever? Explain. For me not really happened in a business that I own, just before I started out on my own. I have probably tried every MLM thing online cash gifting. Pre Paid Legal Amway, you name it I did all that. Searching for ways to make money. That was my biggest drawback, then I started THINKING.
I had developed a website called Suckered and I decided to sell it for a few thousand dollars. At the time, I really thought the domain name was the most valuable part so I just sold it as-is... The guy who bought it, and still owns it, is making around $100/week with it -- total 100% passive income. He has not changed the site or done ANYTHING with it since it sold. He has made around $5400 with it so far... I know because he is a client of mine so I manage his adsense and clickbank accounts. I wish I had never sold the site. It ended up working as planned and if maintained could have been a real good source of passive income for me and my family. Also, I have another site which I sold to someone with the agreement to make payments. They would make payments over time. They never made a payment. So, I recouped the site. But, since I felt badly for the guy who I was repossessing the site from, I offered him 50% of the profits. Now, he gets 50% of the profits and I do nearly 100% of the work. I was working on the site about 50 hours per week, and he was working about 3 - 5 hours per week. But he got / get 50% all because he bought the site from me originally and DID NOT PAY!! I am dooo dumb some times!!
When I first got into using the Internet and creating website I agreed to send a freelancer money upfront through eLance. Me and eLance never saw that man again
Dumbest thing I ever did was sign up for Warrior forum and think that nice, business like-minded people participated there. I was totally wrong!
Totally agree with you. My dumbest decision was to try to teach people IM in a class room style. During the initial days of classes I realized that 80% of my students didn't have any internet knowledge, they didn't even know what a blog is or what a forum is, and how to post on either of them. OR maybe I expected too much of them.
That kind of reminds me of when I did tech supprot calls for a dialup Internet company I used to own and people would sometimes call me right after they bought a new computer and as I would walk them through the setup process, I actually had a few people ask me, "What is a desktop?". I had to give up on tech support and hire other people to do it because there were just too many computer dumb people that called and often times I would have to walk them thorugh how to use their own computer.
Yeah, they want you to explain something simple as taking the glass of water and drinking from it ... They too lazy for trial and error.
Biggest mistake i made was paying someone for a custom made script upfront. Having worked with him before, i thought we had built up a bit of mutual respect where he knew he would get all my future work in return i get a reliable programmer. He did 1 with my money and i had half a site. It very nearly made me give up on the whole making money from the internet idea. I he lived within an hour of me i was close to going round and paying him a visit but in the end i took it as a lesson learnt.
I decided to sell my MMO blog I wish I'd held on to it, the new owner isn't doing that well of a job..
In this case you are not dumb but good hearted. . God will bless you and give you many more things for doing good deed. .