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> FAILED ENTREPRENEUR! Come In.., Share your failed ideas and experience.

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toffeemoose
post Oct 10 2016, 09:26 AM

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QUOTE(SonnyCooL @ Oct 9 2016, 11:31 PM)
that is class A, direct contract from GOV, what ur friend did is sub contract from those Class A ppl than begging for payment smile.gif
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Depends on ministry, software contracts do not have any upfront/mobilisation fees any more...has been that way for some time...that's why the financial background is a critical factor when going for tender/contracts...even for lowly quotations

But I have heard n seen some rare exceptions...
toffeemoose
post Oct 12 2016, 10:07 AM

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QUOTE(metaled @ Oct 11 2016, 05:08 PM)
Years and years ago i used to be a salesman for engineering product and its services.

Met a lot of old uncle who is the business owner. Most with their sons in the business helping them.

Some of them already more then 67 years old and there is no way for them to retire as they fucuk up on finances and have to continue doing business just to pay back loans. Some only manage to settle interest of the loans. Some Uncle already emptied out their EPF but still owe alot of money. None wanna give up as they die die want to leave the business to their son. Got one uncle only pay his son a just graduate level pay even though the son is already helping him for at least 10 years.

You can see from their son/daughter face that they are absolutely not happy with their life,environment and work.

In the end had to cut ties as they take a long time to pay back the services and item ordered from me. And i can only get sales commission if they settle the amount.

I know a lot of sad details as my accountant friend audit their books, and kinda open the door for me to offer what i sell. It was a stupid mistake but i was young and desperate of making more money.
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Sorry...just curious....how was that considered a mistake? confused.gif
toffeemoose
post Oct 12 2016, 11:21 AM

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QUOTE(metaled @ Oct 12 2016, 11:11 AM)
I had to spend a lot of time trying to get them to pay back me. My boss is constantly all over my butt telling me why dafuq i sell to a customer that has financial issue, a couple of guy in the office look at me all weird and stupid.

Learn a lot from those experience in my first "real" job.

Damn it was so many years ago.
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I feel you bro...I run my own software company....at one point people owed me nearly 200k in unsettled dues and I still had to plough on and pay my own staffs with my own $$$. It was a damn lonely feeling...

Lots of stress, time and brain cells wasted trying to recover back the dues....had to go to lawyers twice (1 successful and 1 still ongoing) but its such a hassle.

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