The First Trial => Failure #1

Before we get started with my past failures, I would like to do a short introduction about myself.
My name is David, a high school student from Vancouver. I would like to describe myself as a serial entrepreneur who had successes but mainly failures.
I started my first venture as a small school supply vendor in my elementary school. After knowing my friends got a lot of allowances, I incubated the idea to get some fancy Japanese erasers and pencils to sell. The big mistake I made was to get these items at the retail price and try to sell them with a 50 to 80% profit margin.
As you can probably imagine, I had a cash flow problem. Since no one is buying my extremely overpriced erasers, I can’t repay my parents for the initial funding.
This horrific strategic mistake doomed my first business, but you can’t blame a 10-year-old for not having enough exposure to the real world.
Lesson #1: Don’t buy stuff at retail stores if you want to resell it. (Unless you are reselling Supreme Bricks or Off-White Nike Collab Shoes)
Lesson #2: There is a guy called a distributor or a supplier who can get you good deals on your retail products.
Failure #1 The End

