Hi everyone.. fellow wantrepreneurs!
First off I’d like to commend Psychedelic Entrepreneur for putting himself out there, doing the work, taking chances, and actually creating something that’s helping real people make real money. I’ve been friends with J throughout the conception of the Psychedelic Entrepreneur and I’m inspired and humbled by seeing what it’s taken to create it. All the hard work, and mystical trips to the Amazon has proven to me that the risk has been worth the reward. With the wealth of knowledge, experience, and wisdom that J has shared with us, I personally have found this arbitrage business to be effective and real. Even for a person like me who has zero prior business experience and for that I am eternally grateful to have him as a mentor and a friend.
So J basically taught me from the ground up. He’s guided me throughout the process, helped me open a business account, and made me understand how and why to save 25% of the profit for taxes, and 25% for future investments. He’s given me weird tasks such as doing research into planting a flower, tending it, and watching it as it grew. As a tool, he suggested I meditate with my flower which in turn taught me that running a business is something that requires not only attention but focus. As my littls flower began to grow so did my business. As I continued meditating with my flower, it occurred to me that not only is meditation a great tool for silencing my hamster wheel of a brain from complete chernobyl meltdown,it helped me with everyday life and proved to help make more effective choices. J’s literally raised me the way rich dad/mentor should. So thanks rich dad!
A few of you have reached out to me and asked me questions pertaining to how I run this arbitrage business, I thought I’d share a few of the tools I’ve used to use and answer them here.
Finding listings: When it comes to listings, I too had trouble finding items at first but the truth is we really don’t know what’s going to sell. There really is no secret, just keep adding items, you’ll never know what’s going to sell if you don’t list it. I started off with a mandatory 10 listings a day. All we can do is continue to list items using educated guesses based on availability, amount of listings we add, and more importantly amount of listings we originally create using UPC numbers as described in one of J’s posts.
Think of it like this, literally everything that is made up of our reality is made of things, and those things too are usually made up of even more or smaller things. Literally everything! Whether it be the buildings, the tools used to make the buildings, the screws used to make the tools used to make the tools, and so forth. (you get my point) literally everything in our physical reality is and can be made for sale by you and me.
I like to make games out of listing which makes finding items to list fun! For instance, I’ll ask friends what’s the last purchase they made online. I like to scroll through categories. One friend said “coffin” I simply searched coffin and found the item that was selling the most and added it. Why he said coffin? I don’t care. The minute you start thinking too in depth about finding an item, the more confused and frustrated you’ll get. So pick a word and type it in, it’s that easy.
eBay and Amazon help too. On top of all the annoying emails I get from them, I sometimes get “suggested items to sell” and I add them all. I go to eBay and go through categories such as “hunting”. I literally just scroll through eBay’s hunting products and look for the stuff with the red numbers beside the item. The red bold numbering if you haven’t already noticed is the number of how many times that particular item has sold. List those, they’ll sell.
The best game however is finding items on eBay that are exclusive to eBay. When I find those, I simply copy the links and paste the link on a helpful app called “Trello” which is a tool we’ve used as a task/message board between my virtual assitant and I. I create folders such as “listings to create” “questions to answer” and then accordingly assign them to my virtual assistant. My virtual assistant then creates the listings as time permits.
Virtual Assistants: I can’t tell you how important having an assistant is. I’ll say it without hesitation I love mine, I love you Chris (and Khan). You’re the man. Chris is there to process the orders as they come in, he responds to customer complaints and deals with returns. In my opinion, working with a virtual assistant is a must have. One important thing to note is that I’m a full time employee. I sometimes work 60 to 70 hrs a week which can make things a bit hectic to say the least. It’s hard to keep my thumb on the pulse of my full time job, business, son, social life, fitness, flowers & yadayada… We all have obstacles and life to deal with and it’s still something I’m getting use to.
How bad do you want this? What are your goals? Write that shit down! Make your goals reasonable, educate yourself, read books! I like to switch it up and read books I’d usually never read. It stimulates the mind and it keeps me fresh. One day I’ll read a book about investing, the next I’ll read a book about how to seduce women. It’s all about learning and feeding my brain and creating what neuroscientist refer to as “flow”. Having a virtual assistant has allowed me to continue doing the things I love and placed me in a leadership position to which I find challenging and exciting. What’s life without challenges anyway?
Being a cool leader: In my opinion this is PARAMOUNT. Nobody wants to work for a shitty boss. It’s important NOT to be a micro manager. As long as the work is getting done, and we’re making progress and profitable results, I’m happy. Communication is key. I’ve worked with supervisors in the past who are dicks! The ego can be a mother fucker and besides what good is getting mad over something dumb anyway.
Shitty supervisors/bosses are a dime a dozen, let’s not be them. Besides, who wants to be productive or an employee to a shitty boss? Once you’re ready to be an employer, be nice to your assistants, of course they’ll make mistakes but it’s not the end of the world. Just remember the relationship between you and your assistant is a partnership. There’s a lot more efficiency in piece and never forget that the effect you have on employees/ people is the greatest currency you have.
I’ll close by saying you can never be too busy to face new challenges. Find a cause, face your fears, and continue working towards those goals and drop kicking your fears. Most importantly I urge you to never quit. I’ve been on a journey that has ultimately led to the birth of starting a non profit organization. I knew nothing about business and I definitely knew nothing about non profit organizations. Looking back almost a year to date, I find myself reading books such as “non profits for dummies” and filing for 501 (c) (3) tax exemptions.
Soon I’ll start my own blog which focus will be on helping preserve the world’s sloth sanctuary in Costa Rica, rainforests, and Amazon. I’m using the adorable sloths face as a marketing tool to help share this worthy mission. If you’re bored and having trouble finding items to list, or feel like being part of a community who’s goal is to help something special (your planet) pay us a visit to SlothOrg.com