Ask HN: How did you turn your failed business model into a successful venture?

[hackerpain]

I started with flipping gadgets, but failed at first to make a substantial income. It was hard to make ends meet...

At first we bought devices from dealers and stores who got them in exchange.

But thereafter, my profit increased 5-6x after I started a business model which cut down all middlemen and bought gadgets directly from consumers. There have been some issues like stolen devices and as such, but profits soared!

Want to know other hackers turned a failed business to something successful.

[gotem]

Someone should start a company that does multiple things so that they don't have to settle. I find that it's a huge industry and issue.

[hackerpain]

That's quite hard because getting established in one trade in the industry itself takes a lot of time and effort.

[gotem]

Yeah good point. I guess you could also get distracted. Eating dinner but I will think it over more.

[hackerpain]

We spent like 12 years trying to create a medium sized business in electronics and we were at that time in an era when mobile phones were still getting popular. It was a nascent stage of refurb smartphone industry but even then it was a steep climb for us!

But there are companies operating in the same segment that started later, with VC and investor backing who rose quite fast.