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What's the most amount of $$$ you lost online?

Discussion in 'BlackHat Lounge' started by zorga35, Jul 12, 2016.

  1. zorga35

    zorga35 Registered Member

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    I was just interested to find out from other members how much $$$ you have lost while trying to make online businesses over the years.

    I have done affiliate marketing for quite a few years with many ups and downs. Had websites ranked high, got destroyed by Google, made more, some worked, some didn't. I made some good money from a handfull of products but now I've run out of luck. I've lost about $6500 over the last 1-2 years on projects I really thought would work out but didn't. I've pretty much had to walk away from IM now because its really become hard.
     
  2. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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    Stop thinking of losses as lost money. Think of it instead as dollars paid for the intricate knowledge and lessons learned for how to not do things. Write down what you would change to make it work, and if it's still viable and you have the funds and are willing to take the risk, dive back in.

    Don't be afraid to give up, and don't shrink back at the "really hard", but instead use it as an opportunity for growth, and know that having lost that money and that time, you were performing actions instead of reading a thread and moving on. There is more learning done there than any course or high-thanked thread can gleam.
     
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  3. redarrow

    redarrow Elite Member

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    Lose everyday but ill never give up investing because ill get a winner hard.

    You make a lot more then you ever lose in im but you still got to be carefull and understand what your doing.

    Never put all your cash in one idea that how many im fail.

    Never put your eggs in one basket.
     
  4. nonin

    nonin Power Member

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    .. I have an investment of £8k in one domain name.. not sure that will ever get it back.. although it did help me to land 5 figure contract..

    What I really hate - the loss of 6 months (pure white-hat) when I was working on a single twitter account.. such a waste :/
     
  5. Bleght

    Bleght BANNED BANNED

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    You could say it was a few hundred on projects that didn't pan out here and there, but they were usually recouped by later versions of the same or similar projects that used the knowledge gained while losing the money the first time around. So as SH said, I don't view those as money lost really, but as money spend as part of the process. But I never ever allow myself to make huge investments with unclear results. You always test something with as little as possible before you commit the thousands. You increase your investment only if the ROI is positive. And even when you invest a $1000, it means you made a huge mistake (or a bunch of mistakes) if your loss is 100%.

    As unfortunate as it might be, if your losses have amassed to so much, maybe this game is not for you and giving up might be the right decision.
     
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  6. nonin

    nonin Power Member

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    I guy I knew lost all the savings ($50k+), then his house, and then wife and 2 daughters.. and it all happened because he believed like a donkey that his online platform will work... and even at that point - the website wasn't finished - some Indian developer company (will not mention the name) raped the guy..
     
  7. nonin

    nonin Power Member

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    f*** .. I feel your pain... my advice - stop investing money (incl. probably dedicated server you rent) in those projects and them live their own lives... another one - as much as you might be tempted >> don't destroy them.. just let them exist.

    H
     
  8. ostrich

    ostrich Junior Member

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    When I started IM, my first venture was Forex Trading. I was a newbie then and I trusted those Fake Forex Gurus, buying their signals. I lost more than 30,000 USD. It was a lesson I will never forget. It took me more than 5 years to recover.

    NB: Forex Trading is a scam. Never try it.
     
  9. diso333

    diso333 Junior Member

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    I feel you bro, i have lost 1200 USD as well in forex trading. But lesson learned .. if you want to invest in forex you will need to put two years in learning and practicing or even more. but trusting someone elses signals is a big mistake.

    but that's life. good to hear that you recovered from that big loss.
     
  10. zorga35

    zorga35 Registered Member

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    I was tempted to let them exist. Problem was they had monthly costs - hosting, link rentals which were quite high etc so I had to stop them after some time.
     
  11. nonin

    nonin Power Member

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    ... send me your skype details.. I might give you free space on my server ;) .. forget link rentals and everything else.
     
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  12. nonin

    nonin Power Member

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    .. brrr...
     
  13. diso333

    diso333 Junior Member

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    I don't know him, but i wanted to say thank you for helping him :)
     
  14. jstover77

    jstover77 Executive VIP Jr. VIP

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    Losing money on deals is part of the game. I've lost six figures on projects that never worked out, but I've made that 30-40 times over. It only takes one winner, so never give up. Learn from your mistakes and always move forward. If you're scared to invest in yourself and a business venture, best consider getting a job.
     
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  15. zorga35

    zorga35 Registered Member

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    Thanks for the offer man but all my projects no longer exist.
     
  16. nonin

    nonin Power Member

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    ... :/ man... I've done that several times before as well... the main problem is the word "success" we chase with our projects.. we want too much too fast...

    my advice - if you do have backup >> relaunch the project on the cheapest decent hosting and just leave it... and make a conscious decision to give it at least 5 years..

    H

    p.s. I assume you had a decent idea that was solving a problem or two for some individuals..
     
  17. toml3030

    toml3030 Elite Member

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    Almost all retail forex trading are scams because the "brokers" are basically bucket shops. (bucket shops = the customers' trades never actually hit the market, the broker takes the other side of the trade and screws the customer)
     
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  18. ThatSEO

    ThatSEO Jr. VIP Jr. VIP

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    About £20,000 a couple of years ago after I got stung by the tax man. My partner was in America and I ended up getting stung for his half of the business.

    Although now, it's not a loss, it's a massive mistake that I learnt from
     
  19. IAlwaysWin

    IAlwaysWin Junior Member

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    Reading this thread made me lose brain cells that could have been used to make money.
     
  20. kboxer7

    kboxer7 Senior Member

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    This 100%. I've lost well into the six figures in the past as well. You need to have a certain amount of "grit" and perseverance in this industry, as well as a level of confidence that will help you push thru to the next project. Focusing on doing the right thing and providing value vs. the next "black hat magic trick" helps as well.

    I think too often people get stuck on "methods" vs building an actual viable business.

    Regards,