Take the Loss and Move On!
I have a friend who was working on a big investment deal. It ended up going entirely south for him and he ended up losing well over 50% on his original investment.
I'm obsessed with investing and any investment story will yield a positive ROI in the form of knowledge and lessons learned. I told my friend about this - that if you look for the positive in the situation, you will find one and you will learn that there are so many lessons out there.
Using his deal as an example, there were so many red flags on this major deal. For one, the person on the other side of the agreement wanted certain rules and special treatment to apply to him from the beginning. That was red flag #1.
Next this guy was obnoxiously negotiating over a few % points on the finalities of the deal. This was the point of no return - my friend could have backed out of the agreement then and there but he decided to go forward thinking that the risk was much smaller than he anticipated.
So instead of telling this guy to shove it and forget the deal, my friend entered into an investment with very little guarantee, if any, that he would actually receive his investment $$ at the end.
It's comparable to me asking you for $20 and saying that I'll give you $25 in 3 weeks when I have the money, but we don't have any agreement other than a gentlemen's agreement that I'll return the money. That's a very limited agreement.
That's essentially what my friend did but instead of it being a loan of $20 to a close friend it was a much more significant amount of money being loaned to a mere aquaintance!!
The lesson here is: always know who you're doing business with and make sure that there is a guarantee to hold both parties responsible for their end of the deal.
In an online investment, we should think and investigate it many times before putting our money into the pot and if possible, we should not stay in just one investment coz when it fails then its the end for us. We should scatter it in many investments so that we still have a back-up in case some will fail. Follow the way of the whales on how they do business and surely one day we will be one of them... hopefully!
You got a 20.82% upvote from @botcoin courtesy of @infoslink!
Nice work on project but these type of project enter into market and investors trusted to project and invest into them after all lastly few days or months ran as well and scam.so I think before running these type of project market study will beneficial.....
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.
Wow so beautiful road.....i wish i can ride this
Hello @triptolemus
I will take your advice because often do not understand the business ethics
Check this story out will you?https://steemit.com/fiction/@chisolum/ambitious-virgin-part-1-f8ae615e888aa
There is a difference between a real defeat and a sense of defeat. Do not focus on the events that have already occurred, but instead try to focus on how to do the next time in a similar situation. Remind yourself that all bad things will sooner or later remain in the past. Try to let go of what you can no longer change, and do your best to treat with respect to people or circumstances that have surpassed you.
Hello @triptolemus
I will take your advice because often do not understand the business ethics
Check this story out will you?https://steemit.com/fiction/@chisolum/ambitious-virgin-part-1-f8ae615e888aa
Rather invest with risk than do not invest at all
Risk should definitely be managed when possible and it shouldn't be taken personally. Always remember to learn your lesson and move on to the next thing with a better set of knowledge!