I am 25 years now and some years ago I took one decision which is the biggest regret in my life.
I was doing a good job and earning the amount in that I could survive.
But my mind always wants to do some business and I too thought that it is better to start a business instead of a job.
So I quit the job. This is my first mistake.
I decided to start a Paying Guest House(PG) as a business in Delhi.
I had some savings of about 3 lakhs and after discussion with my family, we decided to open a PG in Delhi. After deciding the place, we rented furnished small PG at 50k per month. The starting investment was 2.5 lakh.
Initially, the business was going well with little profit.
After 5–6 months, the situation changed to something that we had to pay the rent from my savings because of the corona. All the guests started leaving for their home town started in February 2020. Time passed and in the march with the Complete lockdown, everything went bad for me. The landlord need rent and I had no money to pay the rent, my other savings were also exhausted and I had to sell my gold jewelry to give the rent.
The situation was not in my favor, I lost about around 5 Lakhs.
On my father’s advice, I closed the PG in April after operating it for 10 months and got nothing from there. Because all the security deposits spend on rent of April month.
In short, quitting a job and starting a new business for the first time is the biggest regret of life to date. I lost around 5 lakh rupees, my gold jewelry, and many other things.
Still, I have one lakh rupees as a loan on me which I took from my father.
This is my biggest regret in life. But surely I will start a business again in the future, maybe, after 2–3 years.