The biggest thing that I wish I understood at the beginning was the strategy for the initial funding of book arbitrage as a business. Now, Jon & Luke explained it many times since last October but I did not hear it in a way that I really understood, that was until yesterday.
Their system for building wealth quickly is genius once you get it. It’s so easy I missed it. So here it is.
“We teach best what we most need to learn.” ~ Richard Bach ~
Using a credit card buy as many books as you can using the software of course for speed and accuracy. For the sake of argument let’s say you have a credit card limit of $5,000. Spend the $5,000 on books and only pay the minimum amount off monthly. Let’s say for the sake of this example that’s $100 a month.
Now at the same time as you are paying $100 a month on your credit card you also have $5,000 in inventory actively working for you. Using this strategy from the beginning money can start rolling over as you make sales and reinvest those profits and it’s possible to receive 10, 20, 30, 50, 100% return on investment when you buy right.
To be clear, most credit cards have a minimum repayment of 3-5% but let’s put that at a whopping 15%. With the help of the book arbitrage software you can confidently predict anywhere from 10-100% return on investment with your active inventory – at $5,000 in our example.
When we add book trades to book arbitrage as another funding strategy it is a another phenomenal boost in profits. It is free money that is put on your AZ gift card that allows you to buy more books and boost more sales. That’s exponential growth for free!
Do you get it? I didn’t get this at first because I could not conceive of going into credit card debt as a way to build a business. My past financial woes included a lot of credit card debt that took me a long time to overcome. Perhaps you have a similar story.
However, using this system allows us to grow our inventory and thereby sales in an accelerated manner and expand our buying, selling and thereby profitability in as short a time frame as I have ever seen.
Continuing with this strategy to pay off a credit card at $100 a month whilst your profits grow in a compounding way once reinvested is why it is easily achievable to reach the target of six figures in a year to 18 months when applied right. All for $100 a month. That is insane to me.
“You don’t get any points in life for doing things the hard way.” ~ Tim Fargo ~
Not understanding this or applying this strategy we got a loan out so we now have our money compounding for us in an accelerated way but it could’ve been even easier.
I would caveat this by saying when starting off for the first couple of months we would recommend buying a small number of books to learn how to buy right and wrong before committing your funds. But once you know what you’re doing I can see no reason not to pull the trigger.
Why do something the slow hard way when there is a fast easy proven way? Well, even with mindset as my greatest strength I had a blind spot. Now I see it, watch this space for a change in gears. This already amazing business just became even easier!
Next, I will share other nuances that are making a difference to our bottom line. These small but systematically used techniques have a powerful impact on our ongoing business.