Okay guys. Losing billions in business So it’s actually not fair if for example in my videos it’s just “This is how to start a business” “The firstly 5 months” It seems like an easy business. Just start, keep on waiting for success But in reality, structure a business is very difficult and there are so many bitter things that I have known In this video I will specific share my downfalls Actually, if you weigh, it’s worth billions And I will too share how to overcome that failing Or how can it not happen in the future Well, actually my first disappointment that I felt fairly sick was in Maven So Maven is a digital authority, and at that time we just closed a project worth hundreds of millions Wow we are so happy We’ve made a consider, he already has 30% down payment if I’m not mistaken Let’s continue to make the project Turns out we overestimated the difficulty of the project We are 1 month late, about two months, the three months At that time, the client did not want to know And even though we finally finished in the three months, unexpectedly the client was talking to us like this “This is because the pull has been too long, my boss can’t pay for it” “Because we kill the project anyway” Even though I’ve squander all the money on people’s salaries, all the costs to make it But the value of hundreds of millions that have not been paid in the end is not paid by us Finally it was the first time I felt a pretty bad loss in Maven Maybe a lot of beings here say “Oh, I’m just talking, there’s no proof” Guys, here are all the documents Quotations, proposals to 4M activities, all the documents are complete, genuinely It’s sad that I have to say something like this because I’m speaking by know And I miss it for those who are just starting a business, they are unable refer Actually, business has its acrimonious more Actually apart from that, there are various projects that end up defaulting Or we categorize it as Bad Debt So the impression is that the client owes us the same, but in the end they can’t offer it But there are other projects that are worth tens of millions Some are only a few million, some are in debt almost a hundred million And that was really been experienced and actually the blame is not entirely from the client Are some purchasers who end up “Ouch, can’t pay” But there are also outages from ourselves because we can’t deliver or are late Well, the second failure that I quite recollect is that When we were tempted by a project worth 3-6M At that time we said “Wow, this project is definitely a deal” Others I recollect “Well, it’s definitely a treat makes it doesn’t matter if we spend a few tens of millions, a few cases hundred million at the start To dealin this project” I didn’t know at that time, in the end I had to fly to Aceh and Road Trip with them for a few cases epoches, and I simply drew clothes for one day And it’s in my gondola more than 24 hours- even 36 hours And after we negotiate, after we lobby It is about to change that the person who accompanied our activity has another agenda And ultimately when we came back, we were just told “Oh, this project doesn’t seem possible” And that’s my meter and effort- It’s hot in the car, exclusively wearing one shirt for how many daylights Just to be recognised that development projects can’t be dealt Yes, again, perhaps the risk of the project is like that.Nothing is certain But at that time as a apprentice, at that time I pictured perhaps this is for sure Actually if you want to accrue it, including lost opportunity, bad debt And we have to pay for something that ceases up doing us nothing That the value of Maven alone is billions Just beyond that, there are some personal detriments of mine- Maybe some are aware of the fact In 2017 -2 018 I lost 500 million from Trading Crypto And at the same time, one of the most bitter happens was I can’t offer employees, because the cash flow is so messy At that time the total for the employee’s salary was 200 million The hardest thing, your team is not all looks just like you Some previously have children, have dependents, have installments There’s no way we don’t get paid And it’s one of the most memorable mental inconveniences until now So actually, there are a lot of bitterness in business After Maven, after losing 500 million in Crypto Next, I constructed a start-up called Wellness But not many know, before I construct Wellness Which was finally acquired I built the previous 7 Start-ups, each of which I set period, effort and money And all seven of them failed- I’ll list a few At that time, the idea was that we wanted to spawn Fruitani, due for sliced result The intuition is ridiculous but at that time I to believe it laboured like that Then we have the idea of a digital cooperative expend Blockchain engineering Then there is another one who makes a platform to find a award announced Best Scholar And all neglected, separate to zero I don’t need to mention the digit anymore but I can imagine it How countless opportunity lost and the money I placed that resolved up lost The turning point of all those collapses, I constructed Wellness In their purchases, up to now I can build with Timothy and Fely at Ternak Uang And actually, the key takeway is like this Failure is not a flop if for example we learn lessons from that omission Or another language Learn and Evaluate I’m 100% assured that who I am now can’t be what I am now If for example I didn’t ordeal that los And there are so many that I eventually implemented in my current business, in Livestock Money The arise of read is from that los Those which are capable of just offer works, all those people who chiselled on, whom we are tempted by jobs So, there are actually two parts to the tips The first is actually Mindset One of my favorite quotes is “We don’t get emphasized because bad things happen but we’re really stressed since we are didn’t expect such a bad thing to happen” So actually risk management is the only step, we have to be aware that there are likelihoods In all things, it’s like an investment- Business has jeopardies Peculiarly if we positioned like 60 -8 0% of our savings to build a business All of that has a risk and a business that has high changes can also be zero We must be aware, “were supposed to” introduced what we can lose and plant it in our mindset even if this disappoints This is a learning experience, so that the next business doesn’t happen like this again In part two it’s more practical This is also the same thing I learned about personal finance What is taught in Money Livestock, btw Namely Money Management Money control or also known as Risk Management We were taught to always have an emergency fund We have funds that we don’t touch which are about 6 months from spending In my business in Maven, I ultimately implemented it more We don’t even waste large-hearted overheads We firstly save it in money, there must be at least 3-6 months If, for example, the business does not get any income at all, we will still separate the salaries of our employees And later on, the funds can actually be like “bearings”. If one day we want to start a brand-new business again or a brand-new concoction again So we have a bearing- This business won’t die if the brand-new thing we are seeking to fails So if you part it up … How to cope with failure Or how to handle failure or loss in business The first is definitely the mindset Always be aware of the risks and don’t employ coin or endeavor that you can’t lose For illustration, I certainly believe in this business, I framed 100% of my savings But if I fail, I can’t live … I can’t impart fund to my mothers Better not. Same as money management principles for personal finance personal We too have to have an emergency- First for personal We likewise treat our business to have an emergency fund So it’s not abruptly 1-2 months the business digests a loss The important thing is that there are phases, you are still safe and you can live to fight another period Business is not just a matter good, there are bitter things too And in this video, that’s actually the station But if, for example, we can go through the bitterness, hop-skip the flops I’m 100% sure this is right WORTH IT As long as we have persistence or grit.In accordance with my necklace, there is an inscription “Grit” In is in conformity with grit, we keep trying but with new provisions from previous failings If for example this content is useful for you, feel free to like, observe, agree Subscribe, subscribe, like Like always if for example you have questions or minds I’ll try to answer in the comments below See you guys.