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.

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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.

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Profits Everywhere

The ability to sell lots of good quality very cheaply sourced books and to turn them over for profit just makes sense.

“There are so many opportunities out there when you take a peak outside the box.” ~ Unknown

One of the areas of growing interest in book arbitrage is local sourcing. By that I mean, attending local thrift bookstores, library sales, college campuses & book fairs etc. and picking up books for $0.50c – $1.00 and selling them online for $12.00-$15.00 in a lot of cases & for $80.00-$100.00 in fewer instances but those are still available.

photo of book collection on top of table

The profit margin on the smaller priced books in themselves (in small volume) are not earth shattering after fees etc, however from a business ROI standpoint are still pretty healthy.

As discussed in previous blogs, to date some of the main reasons US based Book Arb business owners local sourced was for the benefit of feedback which is incredibly valuable in your health score but also for the benefit of velocity of sales.

In short, a busy store brings more customers. Amazon rewards busy stores with more customers.

The ability to sell lots of good quality very cheaply sourced books and to turn them over for profit just makes sense. Increasingly some Book Arbers in (and outside) our community are specializing in this model as way of creating compounding sales and profits.

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It’s a question of volume with locally sourced books but you get the picture. Truckloads of good quality cheap books sold quickly and easily every day doesn’t take long to grow into a big operation and big success.

Our US Book Arb community have the ability to physically local source, very inexpensively, adding this wing to their business. They store the books at home then when sold they pick & pack and ship the books to the customers themselves saving costs & making money.

Obviously there is more effort off-line with this model in the U.S. but this too can be outsourced & automated over time which is another huge benefit to the book business.

“Always think outside the box and embrace opportunities that appear, wherever they might be.” — Lakshmi Mittal, Chairman & CEO of ArcelorMittal

Even we as internationals who cannot physically local source are working on ways of benefiting from this avenue of income because of the ability to automate it.

We are members of a team of international sellers (from our Book Arb community) who are actively working on cost effective ways to add this structure to our business.

Initially we didn’t focus on local sourcing as a form of additional income that was feasible for us. Now we realise the potential in it for our business especially as it is something that we can set up once and then enjoy automated profits and sales on a continuing basis.

apple devices books business coffee

As internationals we have even tighter margins involved in local sourcing (they’re already pretty tight). We have additional costs of paying locals to find the books for us, the warehouse costs to store the books then the pick & pack fees when the books sell.

However, this method once set up will be hands off for us which is a huge benefit. We love automation, it’s automatic, hands free success……

“If opportunity doesn’t knock, build a door.” ~ Milton Berle

In the next blog I will discuss the benefits of being mentored by the best in the Book Arb business & why it’s so important to continue learning and growing.

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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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Book Buying Precision

The steps to the magic of buying, selling and trading books easily and consistently which is the same thing as saying making money easily and consistently.

“Nobody ever lost money taking a profit.”   ~ Bernard Baruch

Since this business is about flipping money which translates as buying and trading books for a profit it is important that you know how to buy the right books.blur book stack books bookshelves

Let me short cut that process for you now. Remember, the crux of this profit rolling business is buying and trading used books from merchant fulfilled say on Amazon and reselling them at a higher price on Amazon Prime. Customers who buy on prime will often pay much more for a book just to get it faster.

Also, please bear in mind that this process can be repeated with countless other booksellers too. It’s just that Amazon provide safety nets that are pretty extraordinary in terms of support and money back guarantees which is why we started here and advise others to as well.

With that in mind searching for profitable books on the software provided with this system makes this process so simple. We have found it most effective to place as few filters as we can to search for books in our desired price range.

For example, with book arbitrage we might put the setting at $3 to $20 in the Used price, $50 in the 6 month average price with a low sales rank of 400,000. This then displays pages and pages of potential books that meet that criteria. The deals really stand out this way.

Once we have seen a deal we check the prime prices of books already for sale and ensure that our desired profits are attainable within the first 3-5 listings of these books. We allow room to price up and down and this ensures that we know we can sell our books quickly and easily.

If this sounds simple, it is, and don’t let your mind throw wrenches at you. Making money easily and quickly is the best way to make money despite what we may have been told in the past.

The constant speed and repetition of sales is not only exciting but very profitable. As I mentioned before it is the compounding effect of rolling profits quickly that is the magic bullet with this and is why we are all able to become so wealthy so easily.

With trading books we simply open up a topic of study, say for example chemistry. We then press an extension button which instantly shows whether books on that page are eligible for profitable trade-ins that day or not. If they are we simply lock in the trade and the buy the book, send it to the bookseller and pocket the difference. If not then we simply repeat the process on the following pages.

accomplishment accuracy accurate achievement

There you have it. The steps to the magic of buying, selling and trading books easily and consistently which is the same thing as saying making money easily and consistently. Since there are unlimited filters available you can purchase an almost unlimited number of books to suit your budget. Then just rinse and repeat.

We really have to pinch ourselves with how powerfully and quickly our book business is taking off using this no-brainer system. We are incredibly thankful for this opportunity which again as we mentioned before is changing our lives.

“Compounding is the magic of investing.”  ~ Jim Rogers

We have been able to flip money beginning with as little as $5 on books which is growing into multiple figures now. Where else in the world is it possible to make such big returns from such humble beginnings? This is the system whereby the everyman/woman on the street can become wealthy.

In the next blog I will share some of our sales numbers from textbook season which is upon us which should really emphasize the momentum of compounding sales and profits.

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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.

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“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.

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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.

adult book business cactus

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.

New Zealand sign - choose - easy way - hard way

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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Specific Figures

Having our money work for us 365 days a year 24/7 means we no longer have to work very much at all. Is there any job we could do where we could work 24/7? Obviously not which is why it is paramount that we have our money work for us.

In the last post I promised you some specifics in the figures we have created so far 9 months into this venture. They may not be sexy yet but they are only growing and that is the point. Compounding takes a little time. In this case, a whole year to 18 months! That’s not 30, 20 or even 10 years, that’s one year and we only expect to really see the magic of compounding accelerate from here on as it has already started.

close up of computer keyboard

Very often people give up when millions of dollars aren’t created in the first month. By the way in the next 4 months I would ask you to keep an eye on the specific figures by month 13. We have been working in the background on a project that is sure to blow the doors off what we have created financially so far with book arb and it’s still within book arb. We promise to show you how to do that too. More on that to come.

“Most people overestimate what they can do in one year and underestimate what they can do in ten years.”   ~ Bill Gates ~

As I’ve stated before our figures will be at $100,000 in sales in less than 18 months from a start of $1,000 and that’s without the added project we have underway that directly relates to this system. Now that’s a great return on investment by any standard.

And that’s pretty typical within our book arb community. Myself and Tom do not have any special skills that we are applying to this and there are others who have done way better than us and some others who are growing it gradually and consistently. That’s the point. It is possible to start this system where you are and to grow it at your own pace. Who cares if it takes a little longer than 18 months to create $100,000 in sales?

To date we have created $6,544.29 in sales. Now that’s more than every other year altogether in business online over 10 years.2018 07 19th - SALES TOTAL to DATE

In the month of May alone we invested $805.19, selling 81 books for a total of $2,362.42 and after all fees we got our investment of $805.19 back plus we made an additional $268.03 in clear profit in less than 30 days. Think about that in scalable terms.

Again, I add we have learned so much more even since May, it’s now July as I write this, and the books we are choosing now are even more profitable. We are still growing and becoming prosperous. That is the sweet spot of any business and we love that!2018 05 31st - SALES for MAY

Did I mention that as international sellers we do all this on-line without ever touching a book ? We are a book store who never sees our books. We do of course employ a prep centre to have the books we sell checked and upgraded for quality, ensuring our customers receive great value. The prep fee is also built into our figures and we still make a profit.

We know from our research that before we ever buy a book there is high demand for it. We are consistently honing our skills so that we can sell our books in less than 30, 60, 90 days or more depending on the profit margins we wish to make with each one. It is insanely easy for us to make money using this system.

“To get rich, you have to be making money while you’re asleep.”    ~David Bailey ~

Having our money work for us 365 days a year 24/7 means we no longer have to work very much at all. Is there any job we could do where we could work 24/7? Obviously not, which is why it is paramount that we have our money work for us. As I’ve said before the feeling we get waking up every morning with more money acquired whilst we slept is priceless.

This system is not the only way to get rich. That’s a given. But for us it is the most effective way we have seen for anyone to become financially free within a short amount of time that requires no college education, no special skills, no internet marketing expertise or a lot of money to get started.

Another bonus for us is that we didn’t build this system. Jon Shugart & Luke Sample did. We just apply it. Could it be more simple? Probably not.

Next I will share what I wish I had known when I started book arbitrage and the ways you can benefit from knowing that starting out.

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Jackpot City

I don’t know about you but working for ourselves from anywhere in the world in a business that is so predictable and profitable not to mention easy is the sweet spot for us.

If you knew a way, a certain way, of making profits that begin at 30% and go all the way up to 250% and even way beyond, that’s without knowing what you were doing, would you jump in?

That’s where we found ourselves in the Textbook season at the beginning of the year. We simply could not believe the profits that were available to us even though we had heard about it in our training. At that point we understood very little about how to deliberately profit from it.

man with fireworks

Now that we are coming into another textbook season and know what we’re doing we are primed to make even bigger profits. How fun is that?

We have joked that a trained monkey can make a lot of money in textbook season. ‘Jackpot city’ is a wonderful place to be when you are ready and the market is ready too.

Quite apart from the money that we made in the January/February textbook season and will make again shortly in the summer textbook season, it is exhilarating to watch the frenzy of sales and dynamic movement of profits on books.

The book market in July/August, when all the college kids return to school, is a hotbed of activity and I can only imagine (never having worked there) that it feels similar to the New York stock exchange on a bull run day, only the textbook market lasts over a month but with certain profitable outcomes.

There is no gambling. It’s purely a question of supply and demand and being in the right place at the right time to meet those factors. Since we keep building our inventory then textbook seasons to come will only grow in profitability. It’s a rinse and repeat system.

For example in our first textbook season we had 54 books in our inventory and we sold 22 of them which blew our minds at the time, one of our books was for a profit of 250% as mentioned above. For this season, August/September, we have 400 books so you do the math. Going forward it will only continue to grow.

Book - Medical Surgical Nursing 250%

It is exhilarating to source great quality books at great prices for our customers. To provide a service where they can get amazing value which then adds incredible profits to our bottom line is a win-win which is our lane for sure.

Book trading and arbitrage is a massively profitable business all year round as we are finding out but textbook season is a phenomenon which has to be experienced to be believed. It is amazing.

“The natural phenomenon of the universe is so mind-blowing, but you have to know about it. You have to be curious. You’ve got to find it on your own. If you’re lucky, you do.”   ~ Richard Linklater ~

To create financial freedom and independence in such a systematic, certain and scalable way is magical to us. Our entry level was low and thereby risk free. The pace we go at is our choice. The rate of scalability is our choice.

Our profitability is in direct proportion to our application of what we have been taught. So we are in charge of where we are and where we go from here. The exciting textbook seasons are exhilarating focal points for the year that add incredible fun and profitability to this business for us.

Our ability to engage in this business from anywhere in the world and make money brings with it not only money freedom but time and location freedom too.

I don’t know about you but working for ourselves from anywhere in the world in a business that is so predictable and profitable not to mention easy is the sweet spot for us.

Next, I’d love to talk to you about the power of accountability and how that has directly accelerated our progress in book arbitrage.

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