“Just because you work more, doesn’t mean you get more. That’s why you need to work smarter, not harder.” ~ Paul Chucks
Everyone hears that phrase work smarter, not harder and agrees. It’s obvious, right? But is it? How many people actually apply this in their lives? Only when you apply it in your life/business do you know it, as one of my mentors says.
When it comes to this system with book arbitrage the guess work has been taken out of it in terms of the actions to take. For me this gives us all who use this system a huge advantage as so many dreams fall by the wayside not because people aren’t willing to take action, but they don’t know which actions to take.
“Effort is important, but knowing where to make an effort makes all the difference.” ~ Unknown
With the correct action steps already spelled out for us collectively let’s dig a little deeper to see how we can then apply these in an individually smart way.
As individuals we all have our own strengths and weaknesses. Are you aware of both your strengths and weaknesses? What are you naturally good at and what is challenging for you?
Once you figure this out in your book arbitrage business it is easy to devote more of your time to doing the parts that bring you the most satisfaction and thereby profitability i.e. your strengths. It also allows you to delegate the other tasks i.e. your weaknesses in the business, either immediately or over time depending on your budget .
This means you spend most of your time being productive, feeling good and getting results. The joy is in the journey and not just the outcome and your quality of life and confidence automatically increase too – almost instantly.
Any time you spend on your business is time you never get back. So it must be the best use of your time. Enjoying your role in it will make it feel like fun and not like work at all. Now that is smart!
If you take the 10 minutes or so to do this exercise your role will become clearer not just for today but every day in your business. With this awareness you can design your business around your strengths and weaknesses and that is how big success is achieved. It ends up being pretty effortless as you mostly do what you enjoy.
This is not to say that you ignore your weaknesses. On the contrary, once you are aware of them you can either allocate time in your schedule to do those tasks (when you are a small operation), say once or twice a week and then you know they are handled or allocate them to someone else who does enjoy those particular areas.
“Success is achieved by developing our strengths not by eliminating our weaknesses.” ~ Marilyn vos Savant
This strategy really freed me from the tyranny of fruitless efforts. I used to think I had to shore up my weaknesses and spent an inordinate amount of time ‘trying’ to improve those instead of expanding on my strengths. Talk about frustration and hard work. Doh!
Now, however, since the very beginning of book arb I am very clear on my role as I am aware of my strengths and weaknesses. I enjoy my tasks as I am good at them e.g. buying/selling books, repricing, online networking, blogging etc.
I am also happy to delegate my weaknesses e.g. setting up spreadsheets, statistics, sorting out returns, setting up a website for this blog etc. It turns out Tom is brilliant at those tasks and loves doing them. Win-Win.
We are both aware of our strengths and weaknesses and have designed our business around us. We do what works best for us and that is why we enjoy it as much as we do and why we are becoming so successful with it.
Going forward we are both looking forward to delegating even more of our tasks to others who love those roles too. This will free up our time even more and allow us to enjoy the lifestyle we are creating. Book arb is about TIME and MONEY FREEDOM equally for us.
What are your strategies for working smarter, not harder? Be sure to do this exercise for being clear on your strengths and weaknesses today and not just intellectually agree that it is a good idea to do. It only works if you do it.
Being crystal clear about these and using them to your advantage is another essential strategy for easy success. Success isn’t hard once it’s clear. It’s simple and obvious.
Next, I will break down the exact way we are buying books to great effect.