How I Earned My First Dollar Through Business

At the end of 2018, I thought to have multiple sources of passive income. This thought came to my mind after reading "Rich Dad and Poor Dad".
In this book, I learned that the passive flow of income is very important to gain financial freedom in the long run. From that time I start chasing passive income throughout the day and night.

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1. I tried Stock Market Trading

First, I tried the stock market without much knowledge, and you already know what happened: I failed. The reason is quite simple. I was not investing in stocks; rather, I was trading to make quick money.

After five days of trading, I doubled my income, but in the next five days, I lost all the previous year's savings in one big lot trade.
I stopped trading for a month, then tried again after lending some money to my brother's friends. I told them that I was a trading expert and doubled my money within five days.
Again I lost all the money that I borrowed from my brother's friends.
I got scolded and threatened to return money asap so I sold my 3-month-old bike to my senior and returned the amount to my brother's friends.

The lesson I learned from the failure in stock market trading

It is not that easy to earn money from stock trading. It takes at least 3 to 5 years to become profitable for the traders, I thought that the stock market was the rich quick scheme and I was proven wrong by losing 2000 USD in the stock market at the age of 18 years.

2. I tried E-commerce Market

After failing in the Stock market, I thought to give a try to e-commerce marketing so I made a group of friends who were interested in doing some online business from home.
The start of business was so easy. We just bought the domain and hosting and one of my friends built the e-commerce website within 10 days.
The site was fully functional, and the problem that our online store was solving was the quick delivery of daily-use items within 30 minutes. In the beginning days, everything was good and after making deals with the offline stores we were doing that thing but the problem started after 6 months when the new players grabbed almost 80% to 90% of our order value. 
We start losing as quick delivering online store. It was the seventh month of our online store that generated profits of minus 2000 USD. 
We realized soon that we couldn't go far and couldn't hold that losing streak for months otherwise all the generated profit would be exhausted so we quit that business too.

The lesson I learned from the failure in the E-commerce market

I learned that with a small capital, it is very easy for any competitor to replace you.
To save your hard-earned profits from e-commerce you have to step out whenever you see the big competition.

3. I tried Vending Machine Business

After quitting business in the e-commerce market I tried Vending machine business. After a month of researching and finding the cheapest vending machine, I got three second-hand Vending machines for 2000 USD which cost me approximately 666 USD per vending machine.

I placed them in a university after renting the place for 200 USD. 

In the first month, I got 1000 USD pure profit from all the Vending machines. 
In the Second month, I got 1400 USD pure profit from all the Vending machines. 
Till that time I am earning almost the same amount of profit after spending 500 USD on a worker whose job is to refill and maintenance of the vending machine.

Conclusion

I tried Stock Market Trading, but I failed in it and repaid the loss of 2000 USD. I tried the E-commerce Market, and I failed in it again but I failed better than previous business. I failed in E-commerce but I failed better as I managed to make a profit of 10,000 USD before quitting it.
After that, I tried the Vending Machine business at Universities and I am making a passive income without doing anything at all.
My message to all of you is to "fail fast, fail better, and learn fast".
Thanks to all for reading this article.