INCOME REPORT FOR AMAZON BUSINESS
NOVEMBER WRAP UP
My best month to date, still below the number that I want to be at for the month. I am still in the process of building my inventory and trying to get close to that 1500 book mark which will definitely be helpful. I hit approximately 1200 units at my maximum and had an enormous day in which I sold almost $1,400 and sold 93 units. I am have been sourcing as often as possible to provide more inventory to the business. I have a few scheduled days off this month that will be used to just source more books to continue to add to the business so that 2019 starts off to a great start.
The snapshot below is from November. The month of December has started off on fire for me with books. I still haven’t sent in any other inventory. Hopefully this month tops $10k in sales which would be awesome.
INCOME REPORT FOR AMAZON KINDLE BOOKS
Deposit from kindle was approximately $7 bucks. Minimal income from the Kindle books so far. I haven’t written a new book as I am still in the research phase of everything that I am doing for that book. I know it will be related to stocks. I also have another idea in the works for a book related to how to make structure your company to become wealthy. That could be two or three additional books. I am in the process of looking for alternative income sources as well. I have not started the trading part of the business yet so those books will come in the future. This is definitely going to become a greater source of my income going forward. I just need to publish more books. I have a few ideas that I am working on but right now my main focus is to get the machine of Amazon almost on autopilot so that I can focus on other business ideas and interests.
PLANS FOR DECEMBER– AMAZON BUSINESS
I am still targeting sending in 1,000 books in a single month. The two sources that I have been going to are starting to dry up so I am going to mix back in my routine thrift stores and library sales. The reason I kept away from thrift stores was the price, but I need the inventory so I definitely will have to figure out how to make that work. I am still looking for a longer term source of books to send into Amazon, maybe a Gaylord source or overflow from a thrift store. I still use the following sources to pick up books on the weekends. I have a book sourcer that got off to a good start in November and is still going strong in December. The hope as this person is full time, is that she gets up to approximately 50-100 books per day. Once they get there, we are going to be rocking and rolling. I will also be looking at adding in additional inventory going forward. I am paying for Tactical Arbitrage but I have not used it extensively so I need to put it to use or just cancel the membership. Below are the sources that I continue to use to find books for free or cheap:
- Nextdoor – Free books from individuals in the neighborhood
- Facebook – free books and paid books
- Library Sales – Best source of books for a cheap price and abundant. A lot of competition from other booksellers
- Thriftshops – These books are harder to come by as the prices vary considerably but can be a steady source if a specific route is developed which I need to do.
- BookScouters – (Currently have 1 scanner – do not plan on hiring any more scouters currently)
- Freecycle – Haven’t used this source yet but it may be a good source to get as it could lead to a steady supply of books
- Auctions – These are some of the larger book sources but I haven’t found a good one to go to.
- Gaylord – a cheap number of books but a lot of works for minimal profit.
Another announcement – I am starting an authority website on a subject that I’ve done some extensive research on and I think it will bring in some additional income. Once I get everything set up and start making money on that site, I will post the results here.
The plan now is to start trading in January with a saved up deposit that I am trying to get together in December. Whatever that amount is, that is all that I will start with to push the business further into the success area that I am looking for. This is going to be the driver of the business as the amount of cash it can generate on a daily basis with intellectual effort, early mornings and speed will definitely push the business into a new arena.