What was your biggest buisness decision and it failed?

Answer 1

I don't know about big, golf course construction failed, bad partner.

Answer 2

I started a swiss watch company. I had a couple problems. One being the high cost. Another being that I am a huge watch connoisseur. I'm used to paying a nice chunk of change on a watch. But a lot of people arent willing to shell out money on a watch when they can buy a car for the same price.

I had planned it out for a little over 3 years. I had a watchmaker in switzerland custom making me a watch during this time. I stratched it before my initial launch. The costs were great, the time commitment to just make 1 custom watch was long enough let alone figuring out how to mass produce a handcrafted piece. I also underestimated the socioeconomic status of my client base. The watch turned out to cost more than I anticipated. Establishing economies of scale would have driven down prices and sacrificed quality. I needed quality, I'm a connoisseur. There were just too many negatives.

So I went back to my original passion, investing. I still have an entrepreneurial passion, but the watchmaking business was not for me.

I did get a one-of-a-kind watch out of the deal though.

After it was all said and done, I look back and I'm thankful that I realized my mistake. I cut my losses short and moved on.

I think that a business failure can be a great lesson.

Answer 3

Well, I'm doing ok in my brick and morter biz. But back in the early 80's I had this idea about doing an internet buy and sell auction sort of thing. I ran it by one of my friends who is also high tech in computers, and looks at different biz models.. his thoughts were that it would never work.. After that Ebay came along.. I gave him ****

Answer 4

Business decision does not fail. You fail to re-correct your decisions from time to time. It is your pro activeness fails.

Try a nice opportunity which does not fail....

http://www.freedom.vjms.net

Answer 5

ENRON!