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.
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.
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.
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………