The business of calculated gambling. Hedging your bet as best as possible in order to minimize risk. This is how I see ticket resale or scalping. In this business specifically, just like gambling, you know you’re going to lose but minimizing losses is crucial. So accepting failure is part of the business model.
It was a pretty simple process. I’d buy tickets to events I thought would either sell our or were highly desirable, bringing upon inflated ticket values. It was going pretty well until The Red Hot Chilli Peppers decided to show up in Vegas on NYE, but nobody decided to show up and see them. Long story short I lost $2,500 that night and missed my flight home after making an emergency trip to Vegas in hopes of minimizing the loss. I wasn’t keeping tabs on $ made back then, but it was a big hit. A big enough hit where if I did that with another project that was scaled up drastically, it probably would’ve tanked. So clearly my first venture into buying and reselling tickets was a flop.
But none of this was in vain. I recently started a little side hustle in the same area and I’ve developed a formula. Disclosing that secret formula on this bloog that a meeeellliooonnn people could potentially see just wouldn’t be very advantageous. But just know I’m 3/3 on shows and the 4th is looking promising.
So fuck a failure. Even if it’s a big one just get back up and keep moving forward. The bigger the failure, the less likely you are to make the same mistake twice.