This is the third post of the Sonic Highways series. You can view the other post below:
Two warnings before we get started:
- If you are sensitive to foul language, these songs (and posts) aren’t for you.
- If you don’t like the Foo Fighters, you can still learn a lot from the narrative I write. Please don’t judge the post based upon the song.
Now that we have that out of the way….To the next song:
City: Nashville, Tennessee
Guest Star: Zac Brown
If you want the whole story behind the song, please check out the Sonic Highway documentary (I don’t want to waste you time repeating what you can watch).
There are two main lessons we can take away from this song.
Lesson 1: Send In The Congregation.
I’ll quote my good friend Andy Slamans on this one.
“There is not a more giving community out there than the Amazon Selling Community.”
I couldn’t agree more. I have seen this first hand on a ton of different occasions over the last few years. Do you remember all of the amazing stuff we have done as a community? If not, let me refresh your memory 🙂
Raised over $13k for a fellow seller when his house caught on fire
Donated over 500 boxes of Kleenex for students in need
Sponsored 5 families to have full Christmas with a tree, food, presents, etc. ($3k worth of goods)
Raised over $25k for various other fundraisers and/or causes
Started the FBA Master Grant Fund with an initial investment of $1,100
And a bunch of other donations, money, etc to events and causes over the last 2 years.
It’s a moment like this when you should pat yourself on the back and say “good job.”
And we want to continue to build the community (if we are going with the theme of the song, we can say Congregation).
Our #1 rule? Treat others as you would like to be treated.
Every day, we see people who have been selling for 10 years helping those who have been selling for less than a week. And then we watch those sellers grow and give back to the community in ways that just blow my mind.
Karma. It’s real and those who give get way more back in the long run.
Lesson 2: Do You Have Blind Faith? No False Hope.
Selling online (especially through Amazon) requires some blind faith.
Think about it. We are making educated guesses about the supply and demand of a given product with a snapshot of information. We can look at charts, graphs, numbers, etc, but we can’t predict the future.
How in the world can we trust imperfect information that puts on money on the line?!?!?!?!
Well it’s actually pretty easy.
We actually leverage the imperfect information to create a profit in the short-term and understand that the market will correct itself in the long run.
No false hope.
We have to come to grips with something as people who dabble in the world of arbitrage.
Imperfect information is what makes us money.
The fact that we know we can buy things cheaper from one store than we can online is what gives us the ability to make money. That being said, the more you can learn about pricing and discounts, the better you can become at arbitrage (online or retail).
Understand that arbitrage is a constantly changing opportunity that thrives on imperfect information. Understanding that will allow you to see new angles and new money making opportunities.
Until next week,