Make The Days Count

We’ve all experienced some great challenges recently but with great challenges come great & equal benefits & opportunities.

It’s a glorious day to be alive & in this business.

The wheels are turning once again in Amazon as they always do. Fluctuations may happen but they are the titans of our online business so they are only making money in books when we buy & sell on their store!

quote calligraphy under cup of lemon tea

What may be noteworthy is we had one of our best days sales ever in the middle of this recent turn of events, which was a surprise to us. It was very welcome & perhaps evidence again of the power of focusing on what’s working well, making adjustments, taking action & letting go of things that are outside of our control.

“Don’t count the days, make the days count.” ~ Muhammad Ali

I think that’s appropriate for where we’re all at inside & outside of business at the moment.

We’ve all experienced some great challenges recently but with great challenges come great & equal benefits & opportunities.

brown road sign on pavement near mountain

Which direction we’re all facing will determine more than anything else where we land & thrive as our world moves forward once again.

Which umbrella we place ourselves under is our choice, which is pretty exciting.

Choose wisely my friends, our fate is as always in our own hands.

Click Here To Start Making Money

Hot Hot Summer

It’s our favourite time of year again. Textbook season. Textbooks sell all year as you know but it’s bumper time again.

“Summer time….. & the living is easy.”

August/September is a very hot time to be in the book business. All the wonderful students are starting or returning to college.

We know what they are looking for (textbooks) & we know when they will be looking for them (supply & demand) because of the research we have done on our KEEPA charts.

It’s like knowing the upcoming trend for Christmas season, if you were a toy seller, & you have the toys ready for sale! In fact, it is Christmas in summertime for booksellers.

So what are we doing at the moment to get ready for textbook season? We are buying as much inventory as we can, more than usual.

pexels-photo-626986.jpeg

Our search criteria is a little different too at this time of year because of the spike in sales and book sales price.

Often coming into textbook season a book could be selling at $30 making a small but healthy profit but by the second week in August that same book can be selling at $55.

With that in mind sometimes the KEEPA charts may show a sales price today of $25 which we would typically pass over because our criteria is to buy based on today’s market i.e. if I bought that book today & sold it today would I make a profit?

But because within a couple of weeks there is a significant bump in that sales price we are buying books outside our standard criteria.

We have been through a number of textbook seasons now so we understand the trend. We make a lot of sales. We may not sell every book right away but we can still make a profit over the next couple of months.

Worst case scenario we would have the book for the next bumper textbook season in January so we can’t lose.

“The first rule is not to lose. The second rule is not to forget the first rule.” ~ Warren Buffett

We also went through our entire inventory & removed any books that are no longer profitable so our Sales Account on Amazon is in optimum health.

This serves two purposes. The first & most critical, our IPI (Inventory Performance Index) i.e. Sales Health number will be at optimum health which will ensure that Amazon expose us to the maximum number of customers.

Second, we do not waste any time repricing books that won’t sell. We can focus all our energy on making profitable sales.

During textbook season most of our time is spent on repricing i.e. selling our books. The market is extremely dynamic & competitive and there is an art to selling books at the maximum price, not too early or you leave profit on the table or not to late or you missed the peak price.

It’s a glorious dance that is exhilarating. By the end of season, booksellers are typically pretty tired & pretty happy. Think of the end of day on the stock market on it’s busiest day & you are in the ball park except this lasts for about a month.

Because we source great quality books at great prices for our customers we love providing students with excellent books on their budget. We pay extra when we buy the books and extra to have them cleaned up to ensure quality for our customers.

“Customer service should not be a department. It should be the entire company.” ~ Tony Hseih

What we hold dear is that no matter how many sales can be made, we only deal with quality books to ensure that our customers are happy with their books & that they have a positive experience with us.

We remember a time when we were on a budget. It doesn’t mean that people on a budget should receive an inferior product or experience, in fact quite the opposite.

Quality always rises to the top. Our intention is to provide top quality products & experience no matter the budget. We would like our company to be more than about the bottom dollar.

Our mission is to be contribute to the world through every interaction & exchange and that is why we are becoming so successful.

So there you have it. That’s how our business thrives in peak season.

Next, I will discuss the excitement of mentoring others & helping others achieve phenomenal success.

Click Here To Start Making Money

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.

person holding pen drawing on paper

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.

black board bright bullseye

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.’

Click Here To Start Making Money

Pack A Powerful Punch

By us focusing on just 3 of the many powerful strategies in the Book Arbitrage business these small but systematically used techniques have had a powerful impact on our ongoing business.

To accelerate our profits we are following several strategies as recommended by the creators of this book arbitrage opportunity i.e. Jon Shugart and Luke Sample to great effect. Anyone in the community who follows these strategies see ongoing wonderful results too.

men s black blazer

“Energy and persistence conquer all things.”   ~ Benjamin Franklin ~

One of the most important strategies to ongoing profitability in book arbitrage is REPRICING. Amazon reward active accounts by exposing those books to more buyers. We reprice daily which lets Amazon know that we are actively working on selling our inventory. This way we sell more books and Amazon continue to display our bookstore to more customers.

I think of it as flinging open the doors of a brick and mortar bookstore with a banner to let our customers know that we are open for business. In addition to using Amazon’s automatic repricing software we spend some time every day manually repricing to ensure ongoing sales. Our bookstore may be virtual but our due diligence isn’t and our resulting profits are real.

Another strategy we apply is we buy our books based on RETURN ON INVESTMENT (ROI) and sell them based on the market. What I mean by that is when we purchase a book we do so based on the ROI we expect to get based on the Keepa charts e.g. 100%. However, by the time the book arrives in Amazon via the book prep centre the market can have changed somewhat so we now sell based on the current market value.

Keepa Chart Example 001
Keepa Chart Example

We do not hold out for the 100% return on investment any longer unless the market is still selling at the percentage. We immediately reprice our books to sell which could be for a profit of 60%. That’s still a whopping return. Initially, however, we made the mistake of holding on too long and waiting for the market to go back up.

This meant that instead of receiving a profit of 60% within 30 days and reinvesting that profit 2 or 3 times we held our books at a price set for 100% ROI which took in most cases 90-120 days to recoup, based on what we had originally paid for the book, and we thereby missed out on a lot more profit in the meantime.

This is an important point in this business. The market doesn’t care what you paid for the book. Sometimes, especially in the beginning with a small inventory we can become attached to our books or our return on investment figure. This slows the whole process way down.

The way to grow this business is speed of sale and reinvestment of profits. In the above example we could’ve had 180% return with the same money, had more sales i.e. profits, more activity on our account and thereby even more sales and expansion. This business is about flipping money as quickly as possible through the sale of quality lower priced books.

Having this as your premise for your business will accelerate your profitability and ensure that your financial freedom comes quickly and easily. Who doesn’t like that?

Over time it will be possible to hold out for more profits but until we are at the hundreds of thousands in sales mark, the above strategy is the most effective by far to get us there.

The third strategy that I would like to share is to regularly change the FILTER SETTINGS in the software when searching for books. There are literally millions of books available to buy on-line. Jeff Bezos, founder of Amazon recently revealed that Amazon has over 100,000,000 prime customers.

That’s our target market. So there are hundreds of millions of books and there are at least one hundred million customers available. That’s powerful supply and demand by any standards.

Book Arb Filter Results
Example: Results from 1 Filter Setting

By changing the filter settings even slightly on my search for book deals a whole new array of books are accessed. For instance, I may put books with a low ‘sales rank’ e.g. 100,000 (this means it sells really fast) and ‘price used’ between $10-$15 in the search filter. I could then change this filter setting to a sales rank of 200,000 and set the used books price at $30. This will then give me a whole new set of books in my search results to choose from. There are so many settings available and each search presents new opportunities thereby an almost endless supply of books.

“Motivation is what gets you started. Habit is what keeps you going.”   ~ Jim Rohn ~

Taking this approach to our business model ensures that we are active, dynamic and successful. With this method we are really finding that there are no limits to how successful and financially free we can become.

Next, I will discuss the power of creating a compelling emotional vision for your business. This will mean that you no longer try to get there but you are coming from there which makes all the difference.

Click Here to Begin Your Journey Making Money Online