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Mistakes I Made: What Went Wrong With My First Business and What I'd Do Differently

This is the guide I wish existed when I started. Here's what I actually got wrong.

May 2026 · 8 min read · By Krish Panda

I Spent Too Long on the Brand Before Selling Anything

I spent three months building the website and refining the brand before a single product went on sale. Looking back, I could have validated the whole idea in week one by selling one custom [...]

Lesson: sell before you build.

I Tried to Sell to Everyone

Velora Gran Turismo was automotive inspired clothing. But I marketed it like a general fashion brand instead of going deep into automotive communities where car enthusiasts actually spend t[...]

Lesson: find your niche and go deep before going wide.

I Didn't Track My Numbers Properly

I knew roughly how much I was making but I wasn't tracking costs carefully enough. Platform fees, shipping, and production costs eat into your margins faster than you expect. By the time I [...]

Lesson: set up a simple spreadsheet before your first sale. Know your numbers from day one.

I Underestimated How Hard Marketing Is

I assumed that if I built a good product, people would find it. They didn't. Marketing is a full time job on top of everything else. I started too late and didn't invest enough time in it.<[...]

Lesson: start building an audience before you launch. Sell to people who are already paying attention.

Closing It Was the Right Decision

In April 2025, I closed Velora Gran Turismo to focus on my IB studies. Building the business gave me practical experience, and I learnt more than any class could have taught me.

"Failure isn't about losing. It's about learning and moving forward."