Today i am going to join, SLC-S29/W5-“Thinking and Ideas!| Ideas That Failed (and Why)!. to @ninapenda for this contest.So friends, without further ado, let's get straight to the main point.

Source

WEEK 5: Ideas That Failed (and Why)

Actually, I think that failure is often more important for success. Because we can learn a lot from here. In fact, when we succeed, we are only happy, and in many cases, efforts are reduced, because success has come. But if we fail, then we see that we think about the matter in which we failed and analyze it, find our mistakes and try to do something better next time.

Describe an idea, plan, or decision (yours or someone else’s) that failed.

A few years ago, my friend and I opened a T-shirt business. The plan was to sell our own designed T-shirts. In the beginning, we started working with great enthusiasm and went far in that regard, for example, according to our plan, we were quite profitable and had designed and printed a few. But the business almost closed within two to three months.

What was the original intention behind it?

Our main objective was to find a way to earn income with little capital and at the same time use our creativity to go far. We thought that if we gave a unique design, people would definitely buy it, and while we were still students, it was a dream to run our own expenses from this business.

Why do you think it failed?

There are several reasons why we failed, but one of the reasons is that firstly, we did not do market research on what kind of T-shirts people want and at what price they are acceptable. We tried to take it on our own with our own inspiration. Secondly, the promotion was very low, we thought that it would sell just by posting, but if we did not do marketing, people would not know.

Thirdly, we had made the stock in advance, so the money was stuck because it did not sell.The biggest problem was the lack of patience. We got frustrated when we did not get results in a short time, and from this frustration, our business gradually deteriorated. At a time when it was closed, it turned into a failure.

Source

What would you do differently if given another chance?

If I had the chance to start again, I would first start small, first with free orders, Then I would print it so that the risk was reduced, then I would conduct surveys and market research to understand the preferences of customers, regularly collect promotional video content and customer opinions. The most important thing is that I would have continued with the form.

Then I would have arranged specials or discounts on different occasions or different days, so that these customers would have been encouraged and they would have been more motivated to buy.

Above all.

This experience in failure has taught me that success cannot be achieved only if the idea is good. In order to achieve success, some other things need to be included. And those are planning, research, patience and the right art strategy. That failed business will come, but that failure has taught me to think realistically. So I believe that failure is not actually the end, but a teacher of future success.

By remembering failure and keeping in mind what happened in the past, a great way to move forward will be created. If it fails, it can be used to learn from that failure. Because failure is the biggest teacher.Thank you all so much for visiting this blog.

---

# I invite 3 people's @rayhan111 @boishakhi123 @bristy1