Working Smarter, Not Harder

We are both aware of our strengths and weaknesses and have designed our business around us. We do what works best for us and that is why we enjoy it as much as we do and why we are becoming so successful with it.

“Just because you work more, doesn’t mean you get more. That’s why you need to work smarter, not harder.”   ~ Paul Chucks

Everyone hears that phrase work smarter, not harder and agrees. It’s obvious, right? But is it? How many people actually apply this in their lives? Only when you apply it in your life/business do you know it, as one of my mentors says.

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When it comes to this system with book arbitrage the guess work has been taken out of it in terms of the actions to take. For me this gives us all who use this system a huge advantage as so many dreams fall by the wayside not because people aren’t willing to take action, but they don’t know which actions to take.

“Effort is important, but knowing where to make an effort makes all the difference.”   ~ Unknown

With the correct action steps already spelled out for us collectively let’s dig a little deeper to see how we can then apply these in an individually smart way.

As individuals we all have our own strengths and weaknesses. Are you aware of both your strengths and weaknesses? What are you naturally good at and what is challenging for you?

Once you figure this out in your book arbitrage business it is easy to devote more of your time to doing the parts that bring you the most satisfaction and thereby profitability i.e. your strengths. It also allows you to delegate the other tasks i.e. your weaknesses in the business, either immediately or over time depending on your budget .

This means you spend most of your time being productive, feeling good and getting results. The joy is in the journey and not just the outcome and your quality of life and confidence automatically increase too – almost instantly.

Any time you spend on your business is time you never get back. So it must be the best use of your time. Enjoying your role in it will make it feel like fun and not like work at all. Now that is smart!

If you take the 10 minutes or so to do this exercise your role will become clearer not just for today but every day in your business. With this awareness you can design your business around your strengths and weaknesses and that is how big success is achieved. It ends up being pretty effortless as you mostly do what you enjoy.

This is not to say that you ignore your weaknesses. On the contrary, once you are aware of them you can either allocate time in your schedule to do those tasks (when you are a small operation), say once or twice a week and then you know they are handled or allocate them to someone else who does enjoy those particular areas.

“Success is achieved by developing our strengths not by eliminating our weaknesses.”   ~ Marilyn vos Savant

This strategy really freed me from the tyranny of fruitless efforts. I used to think I had to shore up my weaknesses and spent an inordinate amount of time ‘trying’ to improve those instead of expanding on my strengths. Talk about frustration and hard work. Doh!

Now, however, since the very beginning of book arb I am very clear on my role as I am aware of my strengths and weaknesses. I enjoy my tasks as I am good at them e.g. buying/selling books, repricing, online networking, blogging etc.

I am also happy to delegate my weaknesses e.g. setting up spreadsheets, statistics, sorting out returns, setting up a website for this blog etc. It turns out Tom is brilliant at those tasks and loves doing them. Win-Win.

We are both aware of our strengths and weaknesses and have designed our business around us. We do what works best for us and that is why we enjoy it as much as we do and why we are becoming so successful with it.

Going forward we are both looking forward to delegating even more of our tasks to others who love those roles too. This will free up our time even more and allow us to enjoy the lifestyle we are creating. Book arb is about TIME and MONEY FREEDOM equally for us.

What are your strategies for working smarter, not harder? Be sure to do this exercise for being clear on your strengths and weaknesses today and not just intellectually agree that it is a good idea to do. It only works if you do it.

Being crystal clear about these and using them to your advantage is another essential strategy for easy success. Success isn’t hard once it’s clear. It’s simple and obvious.

Next, I will break down the exact way we are buying books to great effect.

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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.

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.

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Accountability In Profit Making

Accountability keeps us on track and is the gift that keeps on giving. Our expansion is assured because of it and our success is certain and accomplished as a byproduct. We love it.

“Vision without execution is just hallucination.”   ~ Henry Ford ~

Everyone gets ideas about how to become rich at some point in their lives. The only difference between those who accomplish it and those who don’t is action.

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The beauty of book arbitrage for us with Jon Shugart and Luke Sample is that the path to success has been so clearly laid out. They have left nothing to chance and given us the treasure map where X marks the spot for us to create certain wealth in our business.

We have been taught how to source books at low prices and sell at high prices by experts that are hugely successful with this business model and show up every week to answer our questions and help us to expand our business.

Imagine you had Henry Ford show up every week in your life showing you exactly how to become successful. Well….

Jon and Luke hold themselves accountable to the community by showing up every week. They are constantly expanding and upgrading their software which makes our lives easier, faster and of course more profitable on the backend. The power of their execution and intent of purpose inspires us as a community to be more accountable to ourselves and one another.

For our part we show up every day in our home business to buy books, reprice, do trades, and all the other tasks that it takes to run this mini empire. We hold ourselves accountable by showing up every week on the webinars that are there to help us grow.

Additionally we show up on Facebook to ask and answer questions with the community. Every week we blog our experience so that our journey may be of value to others and it is also an accountability strategy.

“What gets measured, gets improved.”   ~ Robin S. Sharma ~

It allows us to improve and grow our business because we are conscious of where we are and where we are going. Serving others and growing ourselves is a wonderful result!

With other members of our family, who are also creating financial freedom through this book arbitrage system, we hold weekly video calls where we discuss strategies and solutions and inspire each other to set and reach our weekly, monthly and yearly goals.

We schedule all of these activities so that we easily and systematically execute them. It requires very little effort because we have set it up this way. It’s what we do and who we are.

By holding ourselves accountable and by creating our lifestyle around our success we have made the road to success almost effortless and way more fun.

Masterminding our conscious financial freedom is not hard work. It is exciting. Holding ourselves accountable is easy when the goal is being reached daily, weekly, monthly and eventually yearly.

“Destiny is not a matter of chance; it is a matter of choice. It is not something to be waited for, but rather something to be achieved.”    ~ William Jennings Bryan ~

Accountability keeps us on track and is the gift that keeps on giving. Our expansion is assured because of it and our success is certain and accomplished as a byproduct. We love it.

Next, let me share with you some specific figures with you that we are accomplishing on our road to financial freedom. They are pretty cool.

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