Mastermind Principle

“In learning you will teach, and in teaching you will learn.” ~ Phil Collins

I’d like to talk about the Mastermind principle today – it’s only powerful if we apply it. I’ve mentioned before how good habits are as addictive as bad habits, but much more rewarding.

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In our Book Arbitrage Mastermind Facebook group have you thought about how sharing what you’ve learned can consolidate your learnings & strengthen those patterns in your mind – thereby making them automatic.

If you desire different or more results then you have to take different action.

“If you have knowledge, let others light their candles in it.” ~ Margaret Fuller

Think about what you’ve learned already in Book Arbitrage. You probably went through the training once or twice if you’re diligent. Did you write down what you learned & even highlight it?

Within 2 weeks of learning new things we usually forget about 70% of what we learn.
But what if you were to go back over what you’ve learned and explore it to see your understanding of it now, do you think you would see a difference?

When we were in school we did repeated learning – do you remember our times tables – one plus one =2, one plus 2 = 3. We did them until we knew them by heart.

What if you knew your Book Arb business by heart, inside and out? What difference could that make to your life? What if we remain open to learning in the way we were when we were in school/college?

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One of the ways to achieve this quickly in my experience is to apply the Mastermind principle. We have the perfect platform in the Mastermind Facebook Book Arb group to achieve this.

Consider, if you pose questions and post answers to other’s queries you could learn your business to a deeper level? Something brilliant happens when we write something down. When we teach others – we learn ourselves in a more accelerated way. When we know more we can achieve more. We just need to apply this for it to work.

“The more often you share what you’ve learned, the stronger that information will become in your memory.” ~ Steve Brunkhorst

So today – I am encouraging you to share what you have learned so far about Book Arb, for example:

  1. Two fast ways to list a book
  2. Your effective repricing strategy
  3. What you consider important when reading a Keepa chart

Anything that you have found valuable will be of amazing value to others.

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Remember you cannot teach others without learning more yourself. When you do this you may discover gaps in your own learning.

This is great news – drill down, improve on it and grow your business.
You’ll also absorb more yourself of what you are sharing with others – win-win.

“The mastermind principle consists of an alliance of two or more minds working in perfect harmony for the attainment of a common objective. Success does not come without the cooperation of others.” ~ Napoleon Hill

Wise words there from Napoleon Hill.

There’s no way myself and Tom would be where we are in our business or at the level we’re at without the community.

So I invite you to consider how using the mastermind principle can help you and the community to grow from here and then apply it.

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Reasons or Results

This week if you decide, could be the week you take your online business by the scruff of the neck and learn what you need to learn to become successful.

In thinking about our wonderful opportunity here with Book Arbitrage, I was considering the importance of each of us showing up in our business 100%.
Sounds obvious right, but are we doing it?

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Let’s look at what we have.

  • We have a brilliant system for creating wealth with the software already built in.
  • We have 2 live sessions every week where we can ask any question and have it answered by experts, who are in the business themselves.
  • We have the Facebook mastermind group where we can plug in to a Book Arb super-brain and find an answer to any question and also make contributions too.
  • We have a world class email support team that work around the clock to answer all tickets, every time.

So here’s the question, are we showing up in our business in the same way with the same commitment?

“Some people dream of success, while other people get up every morning and make it happen.” ~ Wayne Huizenga

Since we are the creators of our own success, does it matter how many cheerleaders and support we have if we don’t show up?

Think about a world class athlete who has a whole team of people around him/her and yet he/she doesn’t show up fully or he/she wants someone else to run the race for him/her. How is that athlete, who is the driver of the dream, ever gonna win?

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In Book Arb, we don’t need special skills to succeed, but we do need to show up. Everything is learnable. If someone said to you if you learn how to work this ATM machine you can withdraw as much money as you like, no limits! Would you dig in to learn it? Or would you say, I can’t do it, even though you haven’t spent much time learning it yet.

For example, if you’re not clear on your way around your Member Central account yet, within a week of focus, say one hour a day, you could master it and then get on with the task of making money.

If your Amazon Seller account is still confusing to you, do you think 6/7 hours of focused learning in there over one week or weekend could move you forward? You could get it mastered in a very short amount of time if you decide to. Then, you are in the drivers seat.

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Don’t let your mind give you excuses. You can have reasons or you can results but you can’t have both.

There are only a handful of mechanics to get used to with Member Central and Amazon Seller Central and when you can do both, you are operating an ATM machine. Now, that’s worth spending a little bit of time on.

“Successful people do what unsuccessful people are not willing to do. Don’t wish it were easier; wish you were better.” ~ Jim Rohn

This week, if you decide, could be the week you take your online business by the scruff of the neck and learn what you need to learn to become successful.

“The secret of success is to do the common thing uncommonly well.” ~ John D. Rockefeller

We are all still cheering for you, but no one can replace you in your business. You are irreplaceable!

So jump into the drivers seat and before you know it you will succeed beyond your wildest dreams because you decided to.

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Mastermind

Think about how the knowledge you’ve gained already, that you take for granted as obvious, could be the piece of gold that turns the key for someone else. When you share wisdom you acquire it.

Hello Friends. I thought I’d talk about the power of mastermind in creating our success.
Just about all the great success stories and leaders in their fields of any kind will attest to the fact that they had mentors and/or were part of a mastermind group.

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It must make sense when we think about it, learn from others who are achieving what we desire to achieve.

“Deliberately seek the company of people who influence you to think and act on building the life you desire.” ~ Naploeon Hill

In our Book Arb community, we are supremely blessed to have a huge Book Arb super-brain and mastermind group built in already. I absolutely love this. But this mastermind effect only takes effect when we plug into it, utilize it and contribute to it.

If I may, let me share an example of how this played out for myself and Tom.

Pre the August textbook peak season last year we were having a conversation with one of the other mentors. We were discussing how we were getting ready for August season. He said something to us that stunned us in it’s brilliance, simplicity and yet it had not occurred to us.

He asked us what our goal was for selling inventory during textbook season and we said ‘Oh, about 40% would be great, in one month,’ that was our expectation.

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He said, ‘why not 100% of your inventory?’ I was stunned because as obvious as it was, it had not occurred to us. So that one conversation changed our approach and our results.

You may well ask, ‘did you sell 100% of your inventory?’ The answer is no, we sold 80.5% of our inventory. The cynic may say that’s nearly 20% off your goal but we were thrilled because we doubled what we previously thought was possible.

Our vision expanded with one conversation and now our sales are superior on an ongoing basis because our expectations have expanded.

So today, I am encouraging you to consider the value of this mastermind principle found in our community.

For me it’s like a massive sleeper asset that comes alive when we use it and contribute to it. This is what is in place already. We all have a wealth of experience and knowledge together which is powerful and unique to our niche market. We have world class support and answers to questions.

We are forging new highways of success in easier and faster ways by sharing our successes and we can elevate ourselves and one another in our collaborative approach to success.

I love how Richard Branson put it,

“Two heads are definitely better than one and by sourcing ideas from each other, you have a better chance of coming up with a strategy that will allow your business to overcome a setback or challenge.” ~ Richard Branson

Think about how the knowledge you’ve gained already, that you take for granted as obvious, could be the piece of gold that turns the key for someone else and share it.
When you share wisdom you acquire it.

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So if you approach the mastermind group going to give rather than going to get, magic happens and you will receive more than you ever thought possible – I promise.

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Smart Enough To Be Dumb

It’s not the things in life that we don’t know that thwarts our success most in my opinion. It’s when we think we know more than we do that trips us up.

Luckily for me I don’t have to try hard to be the dumbest one in any room.

That is not meant as a disparagement of me in anyway. I like it because it means I always remain open & I don’t assume I know more than I do.

“If you stay ready, then you don’t have to get ready.” ~ Will Smith

I am always ready to learn, to grow, to hear new points of view & to consider & absorb something new that hasn’t occurred to me.

“Progress is impossible without change & those who cannot change their minds cannot change anything.” ~Unknown

This idea has stood me well in life & because of it I have found myself in some pretty interesting rooms.

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It’s not the things in life that we don’t know that thwarts our success most in my opinion. It’s when we think we know more than we do that trips us up.

This can mean that we are blind to our weaknesses, ignore warning signs of imminent change in a marketplace or can become complacent & slow our progress.

Think about it. When we’re reaching for new success we’re committed, hungry & inspired.

If we are no longer striving in some way then our ‘edge’ may be missing. This results not only in a slowing down of professional & financial success but much more importantly personal success!

In our Book Arbitrage Community I am fortunate to share time with some of the smartest people in the industry – Jon & Luke & the other mentors.

I remember reading an article written about Henry Ford when he was on the witness stand & the lawyer was trying to undermine his intelligence.

I thought his answer was genius.

“If I should really WANT to answer the foolish question you have just asked, or any of the other questions you have been asking me, let me remind you that I have a row of electric push-buttons on my desk, and by pushing the right button, I can summon to my aid men who can answer ANY question I desire to ask concerning the business to which I am devoting most of my efforts. Now, will you kindly tell me, WHY I should clutter up my mind with general knowledge, for the purpose of being able to answer questions, when I have men around me who can supply any knowledge I require?” ~ Henry Ford

Boom! That’s how I see myself. Not as Henry Ford but I am surrounded by a mastermind group who are excelling in my chosen field.

I learn from Tom. I learn from every other mentor.  I learn from my accountability group in Book Arbitrage.

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I always learn something new when I go into our Community Mastermind Facebook group. I learn from every live session. I learn from every interaction with people I mentor.

I don’t call the people I mentor students. They are entrepreneurs. We are not working together to learn to be a professional student. We are working together to co create & foster entrepreneurial excellence in book arbitrage.

Not only that but our entire community is a Mastermind group for me because I learn from everyone without exception.

So you see. I don’t have to have all the answers. Phew! I am surrounded by them.

We are truly fortunate to have so many outliers, success stories & leaders of the industry in our community.

It’s our way of life. Like anything, it is important to apply what we learn & to contribute to our community in order to really thrive.

That is the Mastermind principle in action. When you give you receive.

So ask yourself how you contribute to our ever growing success Mastermind group already & consider how you can give more & wait til you see what happens…

It will blow your socks off which is the kind of success I love lol!

Next, I will discuss the power of accountability in our success….

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Help You, Help Me

As a way of life, I go to give in every encounter & inevitably receive in return. Sometimes from that person themselves, sometimes from a completely different source.

A key strategy for success in life & business is knowing when to ask for help.

The answer, as I see it is to have it as a companion.

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Having mentors so we are always being helped is a killer strategy that supports constant growth.

“I think mentors are important & I don’t think anybody makes it in the world without some form of mentor-ship. Nobody makes it alone. Nobody has made it alone. And we are all mentors to people even when we don’t know it.” ~ Oprah Winfrey

My advise, don’t wait for something to go wrong when you are in crisis to ask for help.

Prevention is always better than cure for starters. And when we meet a challenge with experience in our ear, we can move through it with ease.

A challenge is no big deal or a lesser obstacle when we have access to someone who has seen it, paid the price of experience from it & overcome it.

When we have mentors we’re automatically in a success slipstream which exponentially accelerates our success.

How do you make sure you garner world class support?

Well, if you’re in our community we don’t have to look very far for world class support. We are immersed in it from day one be it through formal mentoring, our Facebook mastermind group, the live sessions & the immense email support staff.

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It’s just up to us how we draw from it. Lucky for us.

I would add too that there is a skill in asking for & receiving help from the very best.

I am fortunate to have experienced support from people at the very peak of their profession & be on a first name basis where they take my calls. This has & continues to be invaluable to me as a person & a professional.

How do I do that?

I do that by being authentic, by being myself. I appreciate their skills & share my appreciation with them without looking for anything in return.

I look for ways to help them & other people. No matter how successful somebody is/appears to be, we all share the human experience with the same challenges, dreams & aspirations for ourselves & our families.

As a way of life, I go to give in every encounter & inevitably receive in return. Sometimes from that person themselves, sometimes from a completely different source.

I know that this is the way the world works. I do not ‘do’ something for another person to get something in return, I do it because I love to help people.

When we approach others in an altruistic way, we & they can feel it.

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I am free to do this because of my understanding that this is an infinitely abundant world. I do not need to concern myself with what I get from the exchange, as that is already taken care of, I do it because I love the feeling of providing value for another.

That is how I measure success. How much can I give? I love feeling successful!

The more I give, the better I feel & the more I receive in return. It just feels good to feel good.

Never underestimate what you bring to the party. There are all kinds of success in this world & you have a number of those nailed that comes so naturally to you that you may not even acknowledge as it is just who you are.

That’s what you have that no one else has, that unique blend of experience & perspective that makes you, well you.

All too often people dismiss their uniqueness as inconsequential when that is exactly what another person values most.

We are funny creatures that way I guess…….

“The greatest good you can do for another is not just to share your riches, but to reveal to him is own” ~ Benjamin Israeli

It could be worth your time thinking about your value & how you can share more of that with others.

Also, think about people who are doing what you would love to do & ask them if they have time for a coffee or a quick chat as you would love to hear their story.

This is powerful & it may just bring you the kind of success you dreamed of.

Next week, I’ll share with you how magically this has unfolded in my life.

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Work Flow

Lining our ducks up in a row with our daily habits simply means more progress daily, weekly, monthly & yearly. That’s how we like things – simple, easy & effective.

“Success is the sum of small efforts repeated day in & day out.” ~ Robert Collier

Our daily work flow looks like this:

Buy & Sell

  1. Tom checks previous days sales, buy more if they are still hot.
  2. I check Keepa alerts in my email for profitable books.
  3. I check our hot list of year round sellers.
  4. I check this months shopping list for buying opportunities.
  5. I fire up Book Arb software for more opportunities if I have not spent our daily budget already.
  6. Tom reprices (Sells our books).
  7. Tom lists our books & takes care of admin e.g. returns.
  8. I go to give on Facebook to contribute to others & to help elevate success of our community.
  9. I attend live webinars every Tuesday & Thursdays afternoons.
  10. Wednesday mornings I write my blog.
  11. Thursday mornings I look at ways to expand our business e.g. sell on other platforms, learn new ways to accelerate our efficiency e.g. research faster processes for systemising etc.

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Every second Monday night we attend our mastermind group to brainstorm ways to support & accelerate our businesses. Accountability is a powerful strategy in our group and this ensures our ongoing individual & collective success.

Repeating these daily habits over and over ensures that the fundamentals of our businesses are being met daily – we buy & sell books. Also consciously & actively looking for ways to improve our practices ensures steady growth.

“Never stop learning ; For when we stop learning, we stop growing.” ~ Loyal ‘Jack’ Lewman

Scheduling time to learn new information about our business/market & techniques for applying what we learn means that we are always growing – ourselves & our business.

“The best in business spend far more time on learning than in leisure.” ~ Robin Sharma

Our work flow as we expand will change again but for now, this work flow is taking us from where we are to where we desire to go next.

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Lining our ducks up in a row with our daily habits simply means more progress daily, weekly, monthly & yearly. That’s how we like things – simple, easy & effective.

Next I will discuss the importance of staying focused even when others around you are ‘not on your team.’

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Streamlining into a Slipstream

When we do the right things in the right order it makes them well, automatic. The trouble with habits or the way we habitually do things is that we do them on auto pilot. This can be very powerful when it is thought through and we choose our habits deliberately & our tasks on purpose.

When we started in Book Arbitrage we thought consciously about the importance of being organised because so much of this business can be systematized and handed over to let technology do a lot of the work for us. Love that! So we started this business with systems in mind.

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Recently, however, we realized that we needed to streamline (reorganize the way we perform our daily tasks) our business once again as we are getting ready to scale up to the next level i.e. automatically go from a multiple 5 figure business to a six figure business.

This was powerful & necessary to do so that any bottle necks (inefficiency in us or in our systems) could be removed to support maximum growth & eliminate any drag.

What we have done up until this point was necessary to reach this destination however,  new standards of operations are required for the next part of our journey. In becoming more conscious & efficient in our daily tasks & thus making them automatic, we are setting ourselves up for success in easier ways.

When we do the right things in the right order it makes them well, automatic. The trouble with habits or the way we habitually do things is that we do them on autopilot. This can be very powerful when it is thought through and we choose our habits deliberately & our tasks on purpose.

However, if our habits are unconscious, chaotic, disorganized or sporadic then those are the kinds of results we can expect in business too. Or even if were good up until this point, we require new habits to go to new places. Makes sense, right?

“A good system shortens the road to the goal.” ~ Orison Swett Marden

Scaling our business means scaling up our personal systems (the way we approach this) in addition to the required daily tasks.

How we have done this is? We formed a plan. Then we took action.

“Planning is bringing the future into the present so that you can do something about it now.” ~ Alan Lakein

Firstly, we looked at the way we were doing our daily tasks & made a plan to upgrade them. Without a clear plan, the way is not clear, it is a wish or a hope, but not a strategy. We had our goals when we started but we have revised them once again and are clear on our target, once again.

“The time to repair the roof is when the sun is shining.” ~ John F. Kennedy

Then, in order to maximize our return on our effort so far and to speed our book buying we culled the lists we were working from as we had set lots of Keepa alerts when we first started that were not profitable.

So that meant going through all our Keepa alerts (we had thousands of them) & deleting ones that were not profitable & resetting others to trigger in only good or better conditions. This was not sexy work but it is effective.

Next we culled our shopping lists. The monthly shopping lists we had set up where we kept record of what books to buy for the most profit in each month. We know this by looking at Keepa charts. This again was a laborious task but one that has made us much more efficient.

In the meantime, we changed our criteria for the ways in which we search for books. In this, our parameters are completely different now & much more profitable. It takes the same time to search for mediocre profit books and very profitable books. We chose the latter.

We worked on refining our searches with our mastermind group & we now all have become more disciplined & profitable in our searches.

“Deliberately seek the company of people who influence you to think & act on building the life you desire.” ~ Napoleon Hill

Next, knowing that a mini textbook season is coming up shortly, (May), where trade-ins are particularly profitable, using the Book Arb software, we have created our lists for trade-ins that we know can be very profitable so we are ready for that. Again, this took some time but is worth it.

Next, as I have discussed in a previous blog we changed our method for repricing and our daily objective with repricing which takes less time and is more profitable.

In participating in the Group Coaching and learning from world class coaches we have been fortunate enough to have found ourselves in their slipstream.

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The definition of a Slipstream in “auto racing, it is the zone right behind a moving car. This zone has reduced air resistance and thus, allowing higher speeds…”

This has helped us to become very clear about where we are & what it takes to go to the next level.

This level of culling has inspired us to create a stop doing list as well. I have stopped answering emails & messages in the morning until I have both bought & sold (repriced) books. We are a book store, that’s what we do. This comes first every day.

Tom has been pivotal in all of these changes. We have been merciless in our approach to streamlining & streamlining once again until we have an efficient rinse & repeat operation working to maximum efficiency.

He has learned to load lists of books for sale & in our spreadsheets in one go as opposed to copy & pasting individually. This was thanks to a brilliant Book Arb community member who shared how to do this. This has saved hours of work.

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He has overhauled our spreadsheets and we only have completely essential information on them now so the back end of our operations has become super efficient as well.

Our mindset has shifted so our approach to our tasks has become upgraded & streamlined. This has caused us to experience our own slip stream in addition to being buoyed by our amazing coaches in that we experience less resistance in our motion forward.

This is something that we can & will continuously revise, however, for now we are enjoying the feeling of freedom that comes with clarity & efficient success.

In my next blog I will share my daily work flow that has resulted………

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Building Companions

Being surrounded by other leading edge creators of success in our chosen route for success ensures ongoing extraordinary results. Now that’ my kinda lane.

“You become like the 5 people you spend the most time with. Choose carefully. ”   ~ Unknown

Who in your life is building a road of gold that inspires and challenges you to stride towards your destiny confidently? If it’s true and I think it is, that you become like the people you spend the most time with then who in your life is doing what you would love to do?

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I implore you not to skip over this statement without due consideration. It’s obvious but is it obvious enough to you that you are living it in your daily life?

What is so exciting about book arbitrage for us is that when we signed up to build our book business, it came with building companions i.e. a community of conscious dream builders came in the package, tailor made. We didn’t have to go and find them.

Not only are we surrounded by others who have already gone where we are going, but we are building our visions simultaneously with others at our stage of the business and creating a drawbridge for those who come in behind us. Now that is awesome momentum.

I have been involved in personal development for over 25 years and in business for over 10 years and I have never experienced anything like the power of this mastermind group.

When I say mastermind, it’s a more informal experience than that but nonetheless powerful. Everyday lots of community members post inspirational milestones. We ask and answer questions for one another. We offer specific solutions for challenges that we have met and we share strategies for achieving life changing targets.

I realise that I have spoken about our powerful community in previous blogs. I cannot however, over emphasize the power of consistent attention and support to personal goals with a community of like minded individuals who are building their dreams in a shared area of growing expertise.

This industry is so lucrative and it’s why this platform exists and allows for powerful collaboration, encouragement, support, cheering and practical problem solving.

Since we participate in our community we experience real world expansion on a daily basis as a daily practice.

Sharing in the vision for success with other members of the community who are achieving our next level of success makes our achievement of it, all the more logical and certain.

“It is never too late to be what you might have been.”   ~ George Elliot

I have stated before that this is by far the simplest system we’ve ever experienced for wealth creation. It is made all the easier by experiencing daily real world affirmation by knowing people personally who are achieving the kind of success we are aspiring to create.

It further makes it all the more normal and a by the by to expect phenomenal results and we do because we are surrounded by many more than 5 people who are on the same road as ourselves.  Success made certain is the only way to create success quickly and easily.

Being surrounded by other leading edge creators of success in our chosen route for success ensures ongoing extraordinary results. Now that’ my kinda lane.

Next, I will talk about the value of the vision being so compelling that stopping would be way more painful than keeping going….

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