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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 product to someone I knew. Instead I delayed revenue by months.

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 their time. I spread myself too thin.

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 understood my actual numbers, I had already underpriced some products.

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

I closed Velora Gran Turismo in April 2025 to focus on my IB studies. Some people saw that as failure. I don't. I built something real, learned more than any class could have taught me, and made the decision strategically. Knowing when to stop is just as important as knowing how to start.

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