Return On Investment Today

Repricing (selling our books) is part of our daily work flow. When we reprice our books, it keeps our books competitive and ensures more sales, if you do it right!

If you’ve been reading this blog for a while, thank you for that, I really appreciate your time, you will have heard me mention the term ROI i.e. Return On Investment. Everyone has at least heard of ROI.

How is it then that I have been speaking about ROI and hearing about it since Day One on our Book Arb journey and only now am I really starting to apply it properly?

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It’s funny how we can think we know something and still not apply it or think we are applying it.

“There is nothing so useless as doing efficiently that which should not be done at all.” ~ Peter F Drucker

Let me explain how that plays out in Book Arb. Of course I have been familiar with the concept of buying and selling books and making a profit, I run an online bookstore after all.

However, I was applying the concept in a micro management way thinking that I was being “penny wise” i.e. looking after the profits on each book and that would take care of the overall profits.

Repricing (selling our books) is part of our daily work flow. When we reprice our books, it keeps our books competitive and ensures more sales, if you do it right!

“There seems to be some perverse human characteristic that likes to make easy things difficult.” ~ Warren Buffett

Now obviously making a profit on each book is important but because we were focused on getting as much profit out of each book individually we squandered time, momentum and compound interest.

Over the past year and half I have spent countless hours repricing our books daily. It’s part of the business and also shows Amazon, Big Daddy, that you are actively selling your stock as opposed to using Amazon as a warehouse for products that may or may not sell. This brings other benefits other than profits alone such as more exposure to more buyers thereby increasing your market share.

However, we were way too focused on holding onto our books to get a better price as opposed to selling as much stock daily for an overall ROI. We forgot to think about ROI on our overall investment monthly.

“Compound interest is the eighth wonder of the world. He who understands it, earns it…he who doesn’t, pays it.” ~ Albert Einstein

The chart below demonstrates how the same $10 compounding with only 20%, 25% & 30% profit over the course of a year way out performs holding out for a 100% profit every 8 weeks.

COMPOUNDING at 20% 25% and 30%

When I think about how much time I spent ‘nursing’ books i.e. repricing every day but not effectively I scratch my head. When I think about how much compound money I left on the table by not selling and turning over profits I am astonished.

For the record we have found that the longer our books are on the market, unless it’s a textbook season, the more inclined the price of the books are to decrease over time unless they are year round books. Hold that thought in your back pocket when repricing as it will serve you well. If you can sell for a profit today, sell.

Our strategy was ineffective on both a profitability and time wise front. Man, I didn’t really get it until recently. This business is about turning over as much inventory every month to compound the money for a staggeringly high year round ROI.

Can you see how ineffective our strategy was? We thought we were doing it right but man were we off?

Remember, it’s not about being busy, it’s about being effective. We have still made a lot of sales over the year but this one strategy slowed our progress big time.

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I would add that it’s not to say that it’s not possible to make 100% profit on most books, it’s just don’t delay holding out for it. A bird in the hand philosophy in this business will serve you much better.

It’s just all about buying the right books at the right price at the right time. When and where to look for these books and knowing how to read the Keepa charts makes this easy.

Do not be the bottle neck in your business by being ineffective. Buy and sell books every day. Compound your money by selling as much as you can as quickly as you can and you will be astonished at your progress.

Now that we have corrected our approach to repricing our profits are already increasing exponentially and we have more time back to ourselves. Repricing used to take me hours every day. Now, it takes a lot less time. Less time and more money, who knew?

Next, I will discuss the power of streamlining daily tasks & how we are doing it in our business.

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What We Wish We Knew When We Started

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.

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.

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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.

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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.

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Swimming In My Own Lane

Swimming in our own lane makes for delicious progress as this way we have no competition. We only have forward momentum and success pulling us along the way. We are supported on the sidelines by real experts so it’s all systems go.

Sometimes in life we thwart our efforts by comparing ourselves to the swimmer in the next lane. It seems we are conditioned to measure our success with others in our circle i.e. our family and peers.water swimming competition pool

Now that myself and Tom are swimming in a bigger pond with book arb and moving in circles with others who are ahead of us in the financial sense there are times when our conditioned minds can show up and balk at our efforts. This is a mind trap. Do not fall for it.

The reality is that we are creating more money online every day. Since we are surrounded by others who have expanded past the point where we now find ourselves then we are in the right pond as it were.

So we are in the right place at the right time doing the right things. Golden!

Anytime you find someone more successful than you are, especially when you’re both engaged in the same business – you know they’re doing something that you aren’t.   ~ Malcolm X ~

When we are the ones in the room with the most to learn and the most progress to be made still ahead of us then we have the most to gain by being there. The figures that our peers are creating are simply staggering to us at this point but since we are learning from the best we are in the process of becoming the best ourselves.

It is important to acknowledge our own progress along the way and to celebrate our wins. We often know more than we realise and I love when I find myself answering a question on our community Facebook group that will help somebody else just as we have been helped.

Consider how much progress could you make if you only compared yourself to where you were say this time last year.

The only competition worthy of a wise man is with himself.   ~ Washington Allston ~

For us, this time last year we did not have a successful online business. We did not know anything about the lucrative book buying and book trading business. We were not generating daily profits. We did not have a certain way for creating predictable sums of  money. We did not have a community of cheerleaders and experts helping us to grow our business daily. We did not have money compounding at the extraordinary rate it is today.

Comparing ourselves to where we were and celebrating our wins gives us and our business powerful momentum. We are the only ones who are ultimately responsible for it so it is vital that we feel appreciation and passion for this entity that is changing our lives financially.

It’s hard to beat a person who never gives up.   ~ Babe Ruth ~

Positively reinforcing our efforts and honoring our progress to date fuels the trajectory of this amazing business. Being on board a train that is picking up speed and creating more profits and momentum along the way is exhilarating.

Successful book arbitrage business is a train that is available to everyone who has an internet connection and basic IT skills which excites me.

Swimming in our own lane makes for delicious progress as this way we have no competition. We only have forward momentum and success pulling us along the way. We are supported on the sidelines by real experts so it’s all systems go.

Next, let me share with you the exhilarating nature of textbook season and the amazing bump in profits that brings.

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So What is Book Arbitrage?

Buy low, sell high! Can it be that simple? Yes!

In a nutshell,  we source good quality low cost used books for our customers, upgrade them and resell them at a great price. There are literally millions of books available to buy on-line.

pexels-photo-270571.jpegWe do not have any physical inventory. We buy books on-line and have them shipped to a book preparation centre (there are lots of great book prep centres to choose from) that confirms or denies the condition of the book, upgrades them where possible, and then send the books into Amazon and other on-line booksellers at our request. So far as international sellers we sell our books through Amazon and as we grow we will expand to include other sellers.

For your information used books are typically described in the following conditions, Used – Acceptable; Used – Good; Used – Very Good and finally Used – Like New. This is great information to have and you price accordingly for profits.

Where do you find books at great deals? The software offers allows you to find amazing offers at speed. Without it you could find great deals but it could take much longer. The software hones the search through filters that you set depending on your budget. This is what separates this software from others in the market along with the training and ongoing support.

Within two weeks of training you can be up and running. Where else in the world can you learn a completely new business model and be open for business in that time-frame? I don’t know of any and I have looked. That is what has been transformational about this business for us. From the very beginning we have been making money.

We sold our first book within 10 weeks of being open for business. 2017 12 15th - 1st SaleIt may not sound like much but after years of not making any money on-line we celebrated this sale with aplomb. When you can sell one book, you can sell any number of books. It hasn’t been all plain sailing and I’ll share more on that in another blog but this first sale changed our lives.

What I have found most astonishing about this training is the on-going support which has proved invaluable. Twice a week every week we have access to Jon and Luke with live training sessions via a webinar. This is unbelievably valuable because we learn something new from every session. All the most successful people who are using this business model say the same thing – keep learning.

On these sessions we can ask any questions and have them check our books live on air. Amazing! Experts looking over our shoulders at our inventory. Also, for an additional charge we have availed of our own private mentor which has accelerated our business understanding, growth and success.

Additionally, we are supported and support others through Facebook. This is a community of cheerleaders and everyone shares tips and tricks with everyone else. The market of book sales is so huge that there is an abundance of room for everyone, so everyone shares their wins, their challenges and within an hour most days we have any and all of our questions answered. Many programmes speak about an active community. This is by far the most generous, kind, informative community I have ever encountered.

So, in short, we signed on for training that had us up and running within two weeks, a whole new business. We receive on-going training every week. We have a community of cheerleaders who share their wealth of experience with us and us with them. We are in charge of our financial destiny – priceless!

Compound interest is the eighth wonder of the world. He who understands it, earns it….he who doesn’t…pays it. Compound interest is the most powerful force in the universe.           ~ Albert Einstein ~

Here’s the real kicker for any entrepreneur…this business is really about flipping money. The books are the vehicle for flipping. Where else can you buy stock starting at less than a dollar all the way up to $500-$600 and get an average of 100% ROI (return on investment) sometimes more and sometimes less. The compounding effect of this business is extraordinary. Where else can you place your money and receive that level of return in such a short space of time?

Whether you are starting off with a big budget or with a smaller budget, as we did, as long as you follow the system and keep rolling your money over and over you will be successful. The results of our fellow booksellers as well as our own is predictable and sustainable.

Book arbitrage has been a game-changer for us and I haven’t even shared the other insanely profitable side of the business yet – book trade-ins. Hint: Free money. That’s for the next blog. Welcome to the party!!!

Ask me any questions you have below and I’ll be happy to answer them.

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