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Two Days Ago I Made Money Online
This week I planned to write about a really interesting email I received from Robin Sharma (not a private one, I’m on his list!), kind of following up on what I wrote about in my previous post, but I’ll do that next week instead.
Because, two days ago, on Friday, I made money online in one of my current online buisnesses. (Again, I really don’t recommend pursuing three businesses simultaneously, and I might drop one of them in the future. Right now I enjoy doing them all though!)
Yep, you heard that right. I made a whopping $49!
Or actually, I didn’t, becasue I have costs to account for as well. But right now I don’t care about that, because someone bought a book that I had sourced FBM on Amazon and then listed FBA.
I have proved to myself that the book arbitrage business works.
It’s a really simple business model. You buy books on the Amazon FBM market (Fulfilled by merchant) and sell them on the Amazon FBA market (Fulfilled by Amazon).
At first I had a hard time trusting that it actually works, it seemed too simple. But it does. It just does.
To my help I have a software that lists the books with several different metrics, the most important one being BSR, best seller rank. This tells you if the book has demand in the coming months.
Also important is FBA price, will the book be profitable?
I’m really stoked right now. What is really great with this business is that you don’t have to even think about marketing. Amazon does all that for you. All you need to do is buy good books (and doing that takes some learning, trust me), and list them FBA.
I never see the books, they go to a prep center that, well, preps them, and then ships them to Amazon. They also create the listings.
So my only job really is to buy good books and then price them right. Over and over again.
There are things to learn for sure, and for that I have the basic training and the twice weekly coaching calls where I can ask any questions I have. There is also a very active Facebook group, I often use the search function to find answers to questions that have already been asked in the group.
If you’re curious. check out the webinar that goes more into what the business is about: Book Arbitrage webinar.
Now I have to go look for more books to buy!
To our success, Katrin
Katrin, congratulation for your sale!
Now you have proven that the business model works.
I believe you have now figured out what works and what doesn’t? So you can do more of what works and do less of what doesn’t?
Just curious, how much time do you spend per week on book arbitrage?
Thanks Alan! I can at least I’m on my way to learning what a good book to buy is, this is the crucial element in this business. I definitely hope to buy more good ones than duds going forward, but since the market is dynamic there will be times when I don’t make a profit on a book. That doesn’t matter though, as long as I make a profit on most books 🙂
Currently I work 1 hour/day on the Book Arbitrage side of my business, if possible more on the weekend.
Katrin,
Yup it was probably just me!
CONGRATULATIONS on a sale! It’s so exciting!
I have to take my time since I don’t have much of it! But seeing others getting someplace is awesome!
Can’t wait for the next update!
Sandy
Katrin,
Very interesting to read about a completely different business that you have started getting some traction with. Congratulations on your first bit of income and hoping for many more for you.
I look forward to following your progress.
Andy
Thanks Andy, it does feel good to know I can have several income streams, which is my goal. Affiliate marketing will be a huge part of that I’m sure, but I want the security of knowing I always have other income sources if one should for some reason falter.
Katrin, well that’s great you did earn some money online! Well done. Like you said you proved to yourself that it is possible. You also said that costs are involved. That’s the most important thing here is to know your numbers. It’s been said many times but even Alex Jefferies mentioned it just before Christmas on our call. If we don’t know our numbers, we can get excited about sales but we may not be making any money. So well done. It’s really good news and it must really boost your confidence as well. I look forward to hearing more about this or is it one of the businesses you gonna drop thanks, Atif
You’re so right about the necessity of knowing your numbers, otherwise we can easily fool ourselves. It’s not the sales that matter, it’s the ROI.
Honestly, I don’t think I will drop any of the businesses. They are very different and I enjoy them all. It’s more that to take the pressure off I say to myself that I always have the choice to drop one if I feel it all gets too much. I’m not there yet though 🙂
Hey Katrin, congats sounds like you are about to start making a little head way. It sounds like a good thing if you know what to look for. Best of luck and I look forward to your future blogs.
Hi Katrin!
Congratulations on your #win! This is great news for your online businesses. It is nice to have multiple streams of income to oversee and celebrate the ROI results.
I look forward to hearing more of your success stories!
All the best!
Milissa Neirotti
This is an interesting online business strategy I had not heard of yet. But I guess the concept itself is not new… I know of a local guy that watches Facebook marketplace for things people are giving away for free or super cheap, and then he collects them and resells them – on the same marketplace. Congrats on your first successful sale!
AK
Katrin,
Not matter the business model, the first dollar is an amazing feeling that you will never forget. I am excited for you and look forward to our first dollar made.
Thanks for sharing your win with us.
CJ
Katrin,
Huge congrats on scoring your first sale! That’s got to be an amazing feeling! What an interesting online business strategy. Here’s to continued good luck with it.
Sherri
Hi Katrin,
Congratulations on your sales! It’s truly gratifying to see tangible results from your efforts. There’s nothing quite like the feeling of witnessing your hard work pay off. Congratulations once again, and all the best to you!
Hi Katrin,
Congrats on making sales, that’s amazing!
Handling 3 different businesses though, wow, I couldn’t do that 🙂
Power to you! All the best in all 3!
Denny
Congratulations, Katrin! I’m so happy for you 🙂
Do you read the books you pick, or do you just look at the stats?
Is it kind of like having a virtual bookshop?
How interesting!
Congrats, again!
No, I hardly notice the titles actually. I will purchase and sell loads of books, so there’s no way I would be able to take a closer look at them. It’s all about stats and prices 🙂
That sounds like a very interesting and simple business plan. As you say, there’s still plenty to learn to make sure you’re buying the right books to make a profit, so not necessarily easy, but simple. Congrats. And thanks for sharing this idea, and showing that it can work.