6 costly business ideas that failed
If you are guided by the Pareto law, then out of 10 ideas launched into real life, 8 will fail and only two will survive. We all love to read the success stories of entrepreneurs, but we often don’t think about the fact that a huge percentage of projects fail and people lose money. Sometimes it amounts to tens and hundreds of millions of dollars.
We will talk about such projects today.
It is impossible to do business without risk. Where does it all start? Well, initially a promising idea appears, in which there is a desire to invest money. Moreover, it should be noted that I want to invest not only the previously estimated amount, but also everything that is on the “balance”, if only it would work out! After it remains only to wait … maybe lucky.
Let’s look at the top 6 business projects that did not live up to the investments or hopes of investors.
The average price of a vehicle of this type, depending on the type of equipment, ranged from 450,000 to 490,000 rubles. The release of this hybrid model was planned for early 2015.
The amount of financial investments amounted to approximately 250 million euros. During the entire development phase, only four working copies were created. Moreover, one of them was presented as an advertisement to the most famous and provocative Russian politician – Vladimir Volfovich Zhirinovsky.
The body of the produced ё-Crossback EV hybrid had only three doors. Unfortunately, the hybrid installation did not work out, for this reason only electricity is used to operate the machine. The closure of the project took place last spring.
Business project №2. Satellite is a search engine.
On May 22, 2014, the developers of the Russian company Rostelecom created a search engine and a whole Internet portal, which was called Sputnik.
Development cost – 60 million US dollars. In the first few days, the number of conversions to other Internet resources amounted to more than five million. But already at the beginning of September 2014 the same indicator dropped to the mark of 16,600 visitors. At the moment, according to the statistics of “LiveIntrnet”, at least 1,000 people visit this Internet portal every month.
Business project №3. Transport on two wheels Segway.
The size of financial investments is 125 million US dollars. The innovative vehicle was designed specifically to become a replacement for familiar cars and to change the familiar transportation system in principle. Despite the use of advanced technologies, this tool has become an alternative version of the “hybrid” of walking and driving a car. But after all, this has long been found a replacement – a bicycle, and its cost is several tens of times more affordable.
Today, Segway is not a replacement for the car. It has become a kind of attraction that you can ride in the nearest amusement park.
By the way, we already wrote about how to earn rental Segway, anyone interested, look.
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On top of that, already in the first couple the invention gained notoriety. In 2010, the millionaire Jimi Heselden, who owns the Segway company, died at the age of 62 while strolling on an innovative two-wheeled vehicle. By absurd accident, he could not cope with the management and fell into a river in the UK.
Business project №4. Yotaphone.
This development was released at the end of 2013. Together with others, the domestic production organization YotaDevices worked on the project. This lte-phone is equipped with two operating independent screens – a liquid crystal display and a display that works using the “‘ electronic ink ”technology.
Last year, a new model was released – Yotaphone 2.
The size of the investment fund is about 50 million US dollars. In the first thirty days, about 600 copies were sold at retail. Today this kind of “smart phone” can be purchased on the market, but, unfortunately, investors do not feel much profit from this.
The situation was not even corrected by the advertising company, but it was headed by top officials of the state.
Business project №5. Bippy Service.
The Bippy service is designed to allow network users to share news with friends about their latest acquisitions made using the card.
The amount of investment capital is 13,000,000 US dollars.