My Worst Investment Ever Podcast
Business:Investing
BIO: Vishal Bhardwaj is a serial entrepreneur and founder of Predictions For Success, Engineer By Mistake, and Passionate Management Services.
STORY: Vishal gained immediate success when he started his company and had about 100,000 followers. He thought this indicated that people loved what he was doing, so he decided to sell a corporate gift for Diwali 15 days before the festival. He didn’t do any market research, so when he went to sell the product, no one would buy it as they had ordered their gifts months in advance.
LEARNING: Do proper research before you jump into anything. Don’t let emotions run your business for you. Timing is as important as pricing.
“You may have a lot of good audiences, but those may not be the people who will purchase the products you introduce.”Vishal Bhardwaj
Guest profile
Vishal Bhardwaj is a serial entrepreneur and founder of Predictions For Success, Engineer By Mistake, and Passionate Management Services. He loves to inspire students and aspiring entrepreneurs and has been at TED Talks, TCS, Money Control, Bakstage, and others.
For any personal guidance on career and relationships, Vishal is reachable on WhatsApp.
Worst investment everVishal started Predictions for Success in 2014 and got around 100,000 followers. This immediate success motivated him to leverage everything, and he thought that whatever he touched would turn into gold because people loved what he was doing. Vishal and his team thought selling something would be a good idea.
Diwali was just 15 days away, and Vishal suggested to his partner that they sell corporate gifts for the famous Indian festival. They started shopping for things even though they had no idea what the people would want. They thought having something in the range of $10 would be easy to crack. While at the market, Vishal suggested that rather than purchasing everything at a wholesale rate, they should buy something a little pricey but as a sample. So, if it didn’t get sold, they would only have a little inventory sitting idle. His partner was against the suggestion. He thought they should buy cheap and in bulk. Vishal insisted that they forget about profits and try to learn something.
They invested 100,000 rupees (about US$1,200) and purchased products in bulk. They did a professional photoshoot, and everything was exciting until it came time to sell the products. They talked to the companies to see if they were interested in purchasing the products, but the prices they quoted were less than even what the company had bought the products for. They couldn’t sell even a single product and had to give them out as gifts to their customers for the next three years. Vishal still has a couple of them lying around in his backyard.
Lessons learnedWhen you hear any idea, even a unicorn idea, wait seven days before acting on it. If you feel great about that idea after seven days, it’s good to go. If your emotions decrease daily, you either take more time to think about it or let go of the idea.
Vishal’s recommendationVishal recommends reading The Bhagavad Gita to learn the world within you to quickly discover the world outside.
If you’re looking for any guidance regarding your personal or professional life or if you’re stuck and don’t know where to go, connect to Predictions for Success on WhatsApp, and Vishal and his team will help you tackle the problems you’re facing right now.
No.1 goal for the next 12 monthsVishal’s number one goal for the next 12 months is to read into the spirituality of one billion people.
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Connect with Vishal Bhardwaj
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Bogumil Baranowski – Be Careful With Businesses in Secular Decline
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ISMS 16: Top 5 EM Country Interest Rates – Normal China Yield Curve
ISMS 15: Top 5 DM Country Interest Rates – Steep US Inversion
ISMS 14: Regional Interest Rates - Low in Asia, Egypt and Frontiers on Fire
ISMS 13: Global Interest Rates - Hikes Slow, Inversion Signals Recession
Peter Ricchiuti – Don’t Fall in Love With a Stock
Jason Hsu – The Market Can Be Crazy for Longer than You Have the Conviction
Shreekkanth Viswanathan – Qualitative Strengths of a Company Matter Too
Jeremy Kokemor – Tread Carefully When Investing in Metals and Mining
Paul Hodges – There’s No Substitute for Judgment
Amy Minkley – What Is Your Enough?
Benjamin Claremon – Know What Kind of Investor You Are
Edward McQuarrie – Never Ever Sell Naked Calls
ISMS 12: CPI Racing Across the Globe
ISMS 11: US Banking Crisis and Fed Rate Cut
ISMS 10: US CPI Could Decline to 4% By YE23; Unless QE Revs Up
Michelle Leder – Read the 10-K Before You Buy That Stock
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