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Megan Young and Mikael Daez revealed their business stories and what they learned when they realized that they are not going to make a profit from it.

The Kapuso couple shared their experience as short-lived entrepreneurs in their podcast called Behind Relationship Goals.

Megan said they started their first business which is like buy and sell but with products that are useful to their hobbies.

“It started off us wanting to buy a certain product that wasn't sold in the Philippines and we decided to buy it online. When it arrived, a lot of our friends and our family were like 'whoa where did you get that?' This was during the time na hindi pa masyadong uso 'yung you can buy it on these apps."

Mikael continued, “Basically this was around 2012 so mahirap pa bumili online from other countries.”

Mikael admitted his objective on why he decided to do this business.

“It started because I wanted to fund a hobby, it was very simple. I would just buy the item and then buy an extra item to sell. It started with that."

Megan said if she had a chance, she would tell Mikael to stop buying too much.

“I would've told you to stop buying. Seriously, Mikael was buying stocks every single week not knowing if he will be able to sell this or not. I remember telling you why don't you preorder para at least you only order what people want and you don't have overstock."

Mikael claimed that he was lucky that he was able to breakeven when he ended the business.

Next business is a coffee shop called nine cups. The two admitted that this only lasted for six to eight months before they decided to end their second business.

Megan explained that there were nine people in this business that's why it was called nine cups. These people have the same passion for coffee but came from different backgrounds.

Mikael shared the best part of having this coffee shop, “It was something that we got into together.”

Photo source: Megan & Mikael Podcast

He added, “The coffee was absolutely amazing, but because it was amazing it was also super overpriced. We'll talk about that later on.

"The second thing was it was super cute. Like I said we were all very passionate about coffee and we refused to scrimp on the things that we like. So the coffee beans, the pastries, the look, the equipment, we all decided we want the best kasi siyempre passion natin.”

Mikael admitted that the good part of their business also caused the downfall.

“We are so passionate about it, we could've kept a level head in terms of the money that we were spending kasi no we want the high-end beans, we want the high-end equipment, we want the best looking tiles and chairs and marble countertops.

“To be honest with you, it was not the best business decision.”

The two then decided to end their coffee shop business because they can't see the profit coming in.

Megan claimed, “It was useless for us to keep going kung hindi naman kikita 'yung business kasi palugi nang palugi naman 'yung business.

“It was a good decision... we were able to learn a lot and we were able to save more.”

With these failed businesses, the couple said that they call it a “tuition fee” since they have learned valuable lessons from them.

Mikael explained, “We didn't get any of our money back. We got five or ten percent back when we sold off all our equipment. And the 90 percent that's what we call tuition fee but it's only tuition fee if you really make an effort to see what went wrong.

"Accept that the business failed, accept that it didn't become what you thought it could be and figure out the reasons why.”

Learn more about Megan and Mikael's business stories here:

Meanwhile, see the business ideas you can start at home in this gallery: