As alluded to in the other blog, mindset is what separates the wheat from the chaff when it comes to success.
As easy as this system is and it is easy, if your mind isn’t tuned for success it is easy to find a way to mess it up or at the very least slow it down.
We have been on this journey with book arb since October. We have had so much support through the training and community and yet it took a while for it to really sink in that this business is less about selling books and more about flipping money. Success is achieved through the speed of turnover of sales and ploughing the profits back into the business. This is what achieves breath taking compound auto profits. We bought good books or so we thought starting off. Now, we look at them and giggle. What were we thinking and yet mistakes are part of the road to success.
For most of the world mistakes can be viewed as something that went wrong, an inadequacy of some kind or that success is not meant to be. Believe me, I used to think the same thing as I created business failure after business failure. Now, though I have come to see that building in mistakes as part of the journey makes for success.
The biggest mistakes we made with this business were not reading the sales charts (keepa charts, more on these at a later time) thoroughly enough. Also, we kept holding out for more profits on every sale i.e. we did not reprice competitively enough in the beginning. However, once we realised that profits of 30% turned over quickly on every dollar many times a year amounts to way more than of 100% ROI annually. Very satisfactorily, we are beginning to see the results in our profits with that change of approach.
Compound interest is the eight wonder of the world. He who understands it, earns it ….. he who doesn’t ……. pays it. ~Albert Einstein~
We may have been spoiled during the one and a half bumper season we have experienced so far (there are typically 2-3 textbook seasons throughout the year, Jan-March, May to Jun & August to October when college kids do bulk buying) when we were commanding sales from 100-250% ROI (return on Investment) and expecting that to continue. Not that that is not achievable over and over again but not every day!
The other invisible impediment could well have been that I was so used to not achieving success that when it came wrapped in a big red bow, like this one did, that it took me a while to really understand that making money is easy. Of course, there is work involved but now we’re creating money that will make a life-changing difference to our families and it’s just a rinse and repeat system now that we are getting it down.
The other exciting element for us is that others in the community who are a year ahead of us time wise, using this system, are already working one hour a day and creating tens of thousands of dollars in income.
The velocity and speed with which success is possible with this has been amazing for us. It’s why we put the last of our savings into this. It’s why I walked everywhere and took buses for six months having put the money to purchase our car into the business. Now, I’m not talking a Ferrari, at least not yet, I had put aside €1,000 to put towards purchasing a second-hand car but having that money work for us to get us to where we are now has been worth it. Next year I will be in the happy position to buy any brand-new car I desire.
There will be many more posts about mindset as that is my area of passion. Our minds are our dream makers or breakers. Having our minds tuned to expect success and happiness is the key element to a fulfilling life in every way. We are finding financial success with this system transformational. Having this part of our lives squared away is clearing the way for success to show up in every other area of our lives too.
In the next blog I will describe some of the key habits I perform daily that makes success with book arb a certainty. After all, success is a habit too.