[LWN] Getting Out Of My Comfort Zone...

Lunch With Norm's Weekly Newsletter - Amazon News & Updates

This newsletter is proudly sponsored by:

👋 Getting Out Of My Comfort Zone...

What you’ll find in this week’s newsletter:

  •  👋 Stepping Out of Solitude [True Story]

  • 🗞️ Latest Amazon News and Updates

  • 📢 Amazon’s BIG Rule Change is Coming Soon…

  • 🚨 The Latest OpenAI update - Chat GPT 01 Breakdown

  • 🛫 Top Air Travel Travel Hacks For Entrepreneurs

💰 Stepping Out of Solitude [My True Story] 

My friend Kevin King decided months ago he wanted to host a brand new type of event that he was calling the Market Masters Think Tank in Austin.

He asked me, “What do you think about this?”

The idea was for participants to sit in a hot seat as members of the BDS Dream 100 advise you specifically on your business for 2 dedicated hours housed in a mansion.

And the rest of the time?

You get to hang out at a mansion for 4 days.

I thought, “Yeah, it's a great idea.”

So, Kevin asks “So when do you want to come out?”

I try to never miss an event hosted by Kevin.

That being said, a lot of people don't know, but I'm an extreme introvert.

I've trained myself over the years to talk to people (thanks to the Young Entrepreneurs Organization, now shortened to EO), but it's definitely not my comfort zone.

In fact, I hate being in a house around people.

I'd rather go to an event, stay in my own hotel room, and then head out to the conference on my own time.

It's a real deep-seated fear of mine.

So when he said, “Oh, we're going to go to this mansion,” I hesitated. 

Kevin knows I'm not into that.

Some of my other friends in the industry have these great masterminds in homes. I can't do them.

First, I'm an extremely private person.

Second, it's just having people around me all the time. Most of the time I'm by myself running my business.

But I thought, "Maybe it's time to step out of my comfort zone." So I decided to give it a shot.

So fasg forward to today.

The event was a giant success.

Now that we're wrapping up the final day of the Market Masters event, I can say coming to this event took me out of my comfort zone.

You had privacy if you wanted it—I had my own space which was great.

And the setup of the event was one-of-a-kind.

I can confidently say even the experts here learned something new.

You think you know a lot, but then you sit and talk to other entrepreneurs and—wow!

It’s a humbling experience.

I learned quite a bit on these panels and from the participants during the two-hour think tanks.

And when it wasn’t the think tank, it was a very casual environment— it was people sitting around, talking, having a drink or coffee, whatever.

I've always said, “You cannot have a real connection with anybody without breaking bread.”

I've been going to dinner, trying to switch up who we're talking to, and it's been great.

Matter of fact, Kevin and I met this couple that really enjoy cigars.

We both enjoy cigars, and now we're pretty good friends.

We're looking forward to meeting them in Vegas.

We would never have been able to do it if that wasn't shared on a cab ride to one of the restaurants.

I got to meet a lot of people, provide knowledge, but beyond everything I mentioned, the networking and friendships took me out of my comfort zone in the best possible way.

I had to get out of being an introvert and allow myself to be extroverted.

Now, people never believe me when I say I have this fear, but it's true.

It takes a lot to go to events, but it's usually worth it.

Get outside your comfort zone.

Enjoy the rest of the newsletter.

— Norm

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🗞️ AMAZON NEWS & UPDATES 🗞️

WHATS HAPPENING IN THE WORLD OF AMAZON TODAY…

🚨 Amazon's BIG Rule Change That Could Shut Down FBM Sellers Overnight - On Time Delivery Rate Amazon is making big changes to its Fulfilled by Merchant (FBM) policies, and if you don't stay up-to-date, it could severely impact your account health. Starting September 25th, 2024, Amazon will require FBM sellers to meet stricter On-Time Delivery Rate (OTDR) standards - Watch The Video 

📈 Amazon and Walmart to capture one-fourth of U.S. retail sales by 2029 - Read More 

💰 Amazon says exports from India-based sellers to cross $5 billion in 2024 - Read More

🚛 Faster delivery of Multi-Channel Fulfillment orders begins today - Read More 

🤖 OpenAI's o1: Revolutionizing AI Agentic Capabilities and Transforming Ecommerce? - Read More 

🤫 Amazon Is Quietly Bringing Ads to Rufus, Its Gen AI Search Engine - Read More 

📢 Amazon CEO Vows Leaner Teams Amid Bloat, Ends Work From Home - Read More

🚨 Amazon Delivery Drivers Sign Union Cards - Read More 

OPENAI’S BIG UPDATE

OpenAI just launched this new AI model called o1, and it's a real game-changer.

If you want the full detailed report of the new o1 model read Ecomtent.ai’s blog here

Let me break it down for you:

  • Deep Thinking AI: Unlike previous models, o1 is trained to "think" more deeply before responding. It's got advanced reasoning and problem-solving skills, especially in STEM fields.

  • Acts Like a Human: It generates a longer internal chain of thought before giving an answer, allowing it to refine its thinking process, explore different strategies, and even recognize mistakes—just like we do.

  • AI Agents Powered by o1: This model is paving the way for AI Agents—autonomous programs that can perceive their environment, make decisions, and take actions to achieve specific goals. They're more independent and sophisticated than ever before.

Now, here's why o1 is a big deal for eCommerce:

  • Enhancing Marketplaces: Big players like Amazon and Walmart could use o1 to supercharge their platforms. Imagine more accurate product recommendations and personalized shopping experiences. It could seriously level up algorithms like Amazon COSMO.

  • Automating Operations: AI Agents powered by o1 could handle complex tasks like real-time inventory management, adjusting stock based on predictive analytics and market trends. Supply chain management could be revolutionized.

  • Better Customer Service: These AI Agents could interact with customers with a depth of understanding and empathy we've never seen before, resolving issues quickly and boosting customer satisfaction.

  • Virtual Shopping Experiences: Picture AI Agents acting as personal shopping assistants in a virtual store, offering tailored suggestions, and even negotiating prices on the fly. It's like Amazon RUFUS but on steroids.

So why should you care?

In a nutshell, o1 isn't just an upgrade—it's a revolutionary step that's set to transform the ecommerce industry.

By getting on board with this technology, both big marketplaces and individual sellers can unlock new levels of efficiency, creativity, and customer engagement.

Read more about the new Chat GPT - o1 update here

WHERE IN THE WORLD IS THE BEARD GUY?

Can you find Norm in the picture below? Scroll to the bottom of this newsletter to see the answer!

 

 WALMART MARKETPLACE ACCELERATES GROWTH

Launches Category Expansion, Multichannel Solutions and Omnichannel Innovations for Sellers

Walmart leaders unveiled several initiatives to thousands of sellers attending Let’s Grow! 2024 Walmart Marketplace Seller Summit.

Notable announcements from the summit include category expansion, multichannel fulfillment and new features that simplify selling across markets. Walmart Marketplace, one of the fastest-growing eCommerce platforms, continues to invest in capabilities and solutions to fuel seller success and offer customers an endless aisle of items they need, want and love. 

Learn more and sign up to sell on Walmart Marketplace today.

WHAT YOU MISSED LAST WEEK

👇 Highlights from last week’s Lunch With Norm podcast episode👇

The 2 Things You Need to Thrive in the AI World | Mark De Grasse

  1. Establish Clear Brand Pillars:

    • Define the core elements of your brand, such as vision, voice, and values, and document them clearly. Use these brand pillars as the foundation for all marketing efforts, ensuring that AI tools can generate content that aligns with your brand’s identity​

  2. Leverage AI for Consistency Across Channels:

    • Utilize AI to create content that remains consistent across different platforms (social media, emails, website, etc.). Train AI models on your brand's voice and messaging to ensure all communications reflect your brand pillars​

  3. Avoid Outsourcing Key Content Creation:

    • Keep the creation of core content in-house. Use AI tools to assist with execution, but ensure that the strategy and brand voice are guided by your team to maintain brand integrity​

  4. Use AI to Streamline Repetitive Tasks:

    • Automate repetitive tasks like managing ad campaigns or generating basic content ideas with AI tools. This will free up time for more strategic and creative efforts within your marketing team​

  5. Develop a Cohesive Customer Experience:

    • Ensure that all customer touchpoints, from your website to customer support, are branded consistently. Use AI to help create guidelines and ensure uniformity in every customer interaction​

  6. Create Custom GPTs for Your Brand:

    • Train AI models (like custom GPTs) on your brand-specific data to generate content that truly reflects your brand’s personality and values. This will help differentiate your business from others using generic AI-generated content​

  7. Maintain Ownership of Your Data:

    • As AI continues to advance, ensure that you own and control your data. Avoid relying on third-party tools for key content creation and store your brand’s data securely for future use​

    🚨🚨🚨 Check out Mark’s AI Branding Academy here

 THIS WEEK’S EPISODE!

You can watch all episodes on YouTube or on my Facebook page at 12 pm ET on Wednesday!

Wednesday - Increase Your Amazon growth With Micro Influencers

Our guest is the Co-Founder & CMO of Stackinfluence.com. He is a 6X founder (YC Pangea.app, etc) and a 7-figure eCommerce seller. William is a Brown University alumni and has a passion for helping all things grow and thrive.

In this episode, find out:

  • How to stop negotiating fees with influencers

  • How to get to top page rankings

  • Building your brand with authentic content

  •  How to sit back and relax while growing your influencer collabs at scale

Join us us 12 pm ET on Wednesday! 😎

Watch LIVE 👉 Sign up here

DON’T MISS THIS WEEK’S MARKETING MISFITS!

Never Miss Out on Flight Delay Compensation Again!

Delays and cancellations can turn a dream trip into a nightmare.

You’re not alone 👇

Did you know you are possibly leaving hundreds, sometimes thousands, of dollars on the table. Here’s how you can make sure that doesn't happen to you!

When you’re stuck waiting for a delayed flight, you might be owed cash?

Step 1: Check Your Flight Status Early

Before heading to the airport, make it a habit to check your flight status. Use apps like FlightAware or Google Flights to see if your flight is delayed or canceled. Staying informed gives you the upper hand in managing any potential disruptions.

Step 2: Understand Your Rights

Different regions have different compensation rules. For instance, the EU has strict compensation regulations for delays over three hours, while Canada and the U.S. have varying compensation policies. Knowing these in advance puts you ahead of the game.

Step 3: Save Your Documents

Don’t just delete those airline emails and notifications. Keep your boarding pass, receipts, and communication about any delays or cancellations. These documents are key when you’re ready to file a compensation claim.

Step 4: Don't Settle for a Voucher

When the airline offers a meal voucher or a small credit, hold off. Accepting these can sometimes mean waiving your right to more substantial compensation later. Instead, aim for cash reimbursement.

Step 5: Use AirFairness for Compensation

If your flight is significantly delayed or canceled, file a claim for compensation. AirFairness makes this process a breeze by helping you navigate through complex airline policies and getting you the money you deserve. Often, you could be entitled to cash, not just future credits or small perks.

Step 6: Leverage Travel Insurance & Credit Card Coverage

Always use a credit card that offers travel protection when booking flights. In addition to airline compensation, many cards will cover additional costs like hotel stays, meals, and alternative flights if your trip is disrupted.

Conclusion: Don’t Let Delays Cost You

Every time you're stuck in an airport due to delays, you could be entitled to more than just frustration. By knowing your rights and leveraging tools like AirFairness, you’ll make sure your inconvenience doesn’t go unrewarded. No more missed compensation opportunities—next time, you’ll be the one cashing in!

TL;DR:

Check flight status early, know your compensation rights, and save all documents. Skip vouchers, use AirFairness for claims, and always stay polite. You could be owed cash for delays!

Check out more airline tips in this short clip👇

🚨 Watch the full episode here

  🌎 UPCOMING EVENTS

MARK DOWN THESE EVENTS! 

Sept 17 - Seattle - Now $499, Regularly $599

October 14-16 - Austin, Texas - Virtual [free]

Oct 29 - New York - Starting from $495

Nov 3 - Chiang Mai - $595

FULL CALENDAR

And that’s it, Beardos!

Let me know what you’d like me to feature in the newsletter by replying back to this email.

P.S. Make sure you don’t miss any updates by joining our community here.

See you next Monday!

- Norm

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