Lost it all starting a physical commodity trading

Ойын-сауық

I lost everything with this commodity trading firm. This is the story of how I started, executed, and lost everything launching a vegetable oil business in West Africa. First time ever that I have spoken about it openly.
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Timestamps :
00:00 The Intro
01:03 Chapter I - The Stolen Idea
06:47 Chapter II - The Execution
10:33 Chapter III - The Fall
12:57 Chapter IV - The Aftermath

Пікірлер: 41

  • @AK-ql6ol
    @AK-ql6ol28 күн бұрын

    I am interested in getting into merchant exporting. Your content is exceptional learning material. I will not do the mistakes learning from you. Thank you, Damien. Amjad

  • @DaxL_net
    @DaxL_net Жыл бұрын

    Money comes and goes and comes back. The lesson is learnt from the mistakes that we go through.

  • @Aiworld2025
    @Aiworld20257 ай бұрын

    Subscribed this is where the real lessons are learned 🙇‍♂️

  • @riteshbhate839
    @riteshbhate8393 ай бұрын

    Damien : Thanks for sharing it was a learning experience for a lot of people who are watching this more power to you ❤

  • @arnaudritz5246
    @arnaudritz5246 Жыл бұрын

    I find it very brave to talk about such experiences. And I assume you have learned a lot through this

  • @behonwo1
    @behonwo113 күн бұрын

    I know few cases of european companies opening in WAF and being eventually robbed by the local staff there. It is sad. Glad to see you recovered. I think these kind of videos are worth a lot Damien and they speak about you very well actually. Did things ended up well with the palm oil supplier? May I ask Who where they?

  • @damienwursten

    @damienwursten

    13 күн бұрын

    Tbh, it’s quote commun to get skimmed by the local team. 🤷‍♂️ I was too young & naive. Expensive learning 😅. I’m not giving up names without the authorization. ⛔️❌

  • @tommarquez1980
    @tommarquez1980 Жыл бұрын

    Thanks for sharing. People wear knowledge like a jewel, but experience as scars. It’s a good reminder that we have blind spots that could be exploited by unethical people. I appreciate your openness and sincerity.

  • @energywiz
    @energywiz Жыл бұрын

    I am Lebanese, but as soon as you mentioned a Lebanese guy I knew something dodgy was about to ensue. 😂

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Hahaha i didnt say that… you did 😂

  • @jesusguerrero1086
    @jesusguerrero1086 Жыл бұрын

    Respect man keep moving forward your a great KZread's keep it up loyal watcher

  • @nav8973
    @nav8973 Жыл бұрын

    I like these type of contents as it shows the reality

  • @rogerengetschwiler8385
    @rogerengetschwiler8385 Жыл бұрын

    Good teaching video for our young, too eager, junior sales guys

  • @rogerengetschwiler8385
    @rogerengetschwiler8385 Жыл бұрын

    Damian: Nice story…I know a few from my trading days😂😂 over 40 years of trading teaches you some lessons.

  • @arsenekatumba8344
    @arsenekatumba8344 Жыл бұрын

    We all learn from mistakes especially if you have less experience. This make us aware of of the surroundings of this business, and to get prepared mentally. C'est bon Damien, balance souvent ce genre de videos, nous fortifie mentallement 👍👍👍

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Thk for the kind words

  • @TheNeissuh
    @TheNeissuh Жыл бұрын

    Thank you for sharing. Great learning experience. Following your videos I can see you have now partnered with closer and better people... Good luck for your future endeavours

  • @TheNeissuh

    @TheNeissuh

    Жыл бұрын

    Ha, one more... how much of this was not karma for having stolen the idea from Samer?

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Hahah i dont think much, as he has never done it.

  • @oneconsulting8431
    @oneconsulting8431 Жыл бұрын

    Respekt for sharing this story.

  • @Axe1asDeR
    @Axe1asDeR Жыл бұрын

    Good content, keep it up

  • @mangayidagoloh2380
    @mangayidagoloh2380 Жыл бұрын

    merci pour ce genre de video Damien

  • @damienwursten

    @damienwursten

    Жыл бұрын

    😅

  • @digenesakritas
    @digenesakritas Жыл бұрын

    Being honest is a good thing. You live and you learn and you are better and wiser for it. This is why Greeks and Sicilians and Albanians only go into business with family members as trusted agents and legatees. Business is very endogamous for them to avoid the Thierry's of the world. Obviously not all of us have large amounts of competent family members to act as agents but family is an asset not to be trifled with. At the end of the day the highest standards for ethics should be to ourselves. Once we have that and know what that looks like its just a matter of attracting people who share the same standards as you. I admire your desire to create something. My dad and I have that. My dad did not have luck with his business partner who cheated him and I feel his standards were too low and conversely I feel as if my standards are too high for most people, so I work alone for now...

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Yeah - sure - always difficult to find the right partner

  • @bettyduguil4658
    @bettyduguil465810 ай бұрын

    Sending full support

  • @Passifloor
    @Passifloor Жыл бұрын

    Showing fuck-ups make you look like a human, I'm always very suspicious of "perfect" track records... Radical transparency is usually the best policy. Thanky for sharing your experience.

  • @vhlyon03
    @vhlyon03 Жыл бұрын

    Salut Damien ton histoire est navrante, comment aurais tu pu te prémunir du vol de l'argent ? trop de confiance ? mal sécurisé ? si tu devais refaire le même business comment t'y prendrais tu ? que referais tu ou ne referais pas ?

  • @damienwursten

    @damienwursten

    Жыл бұрын

    I could have put in place better processes, but the main issue was a wrong choice of partner.

  • @Henselt1
    @Henselt1 Жыл бұрын

    Very tough experience

  • @grubs310
    @grubs310 Жыл бұрын

    What a story! thanks for this video it was very insightful and I hope you recover/ have recovered. Is it possible for someone to start a commodity trading business without a prior career in a trading firm? and do you know anyone who has done it?

  • @damienwursten

    @damienwursten

    Жыл бұрын

    thk for the comment - i would say 50% of the companies are started by entrepreneur that learn the job by doing it.

  • @swaminathangnanasambandam8071
    @swaminathangnanasambandam8071 Жыл бұрын

    I guess you should start a business where you have legal stuffs are stronger. If you are interested in countries like USA,SINGAPORE,INDIA, let me know.

  • @micheltiemele1215
    @micheltiemele1215 Жыл бұрын

    Possible de faire des vidéos en Français ?

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Non

  • @arsenasvarov1400
    @arsenasvarov1400 Жыл бұрын

    Shit..mf. i imagine what u would do to him if u caught him somewhere in europw

  • @JohnDoe00Zero
    @JohnDoe00Zero Жыл бұрын

    Maybe update the title to "The time I got robbed trading vegetable oil in Senegal" - Do you reply to comments? don't make a rookie mistake and not interact with your audience :). I say it's fine to tell your mistakes, if they don't self-incriminate lol.

  • @MS-dp2qg
    @MS-dp2qg Жыл бұрын

    At the beginning you steal someone idea if you could have partned with him, things could have gone in better ways. But shit happen

  • @Marmullak_es
    @Marmullak_es Жыл бұрын

    Jump on the horse again! 💪💪💪 we all have those experiences in business. Next project will be easier 🫡

  • @damienwursten

    @damienwursten

    Жыл бұрын

    Thk

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