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Selling On Amazon

Week 7 - How to hit the book sourcing jackpot

Video Transcription (unedited):

Hey everyone, Matthew Osborn here with the week seven update of the 100 book challenge coming to you a little over one week late. I'm sorry, I've been sick I lost my voice. Now I've got bronchitis and I'm probably going to have for the next week or two, so I decided to do the video anyways. So if I'm coughing a lot throughout this, I apologize. Just try and bear with me through it.

I'll do weeks eight update video right after this. I decided to week sevens video separate because it kind of deserved its own video. It was a little bit of a unique week. So normally I start

the hundred foot challenge starting on Thursday.

So I started every Thursday sourcing on the end on Wednesday. This week seven at least I didn't get out to start sourcing until Saturday but Saturday morning was the most successful morning I've had up until this point, I went to a source near the very beginning of this challenge. Scan something like 1200 bucks, thousand 300 books

quite a big selection. And I only found two books. They weren't even very good books.

I almost told myself, I was never going to go back to the source again. But I talked to one of the employees there and they said they very rarely ever saw someone in their scanning. And they don't sort their own books. So I figured someone had just come through and cleared it out maybe the last day or two when I go on. So I decided to wait a few weeks and go back. So that's Saturday, week, seven, two weeks ago. Now. I went there, I scan through I think it was about 1000 books this time. And I came away with 87 books and a little under two hours are about two hours I think it was which was the best I've gotten from a single source. It's better than I've gotten from

sale before actually. So 87 and single source that a lot of those were very good books. I got multiple books over $100 and quite a few books over the $50 mark. So with that being said, let's dive into my numbers for week seven.

So here are my numbers for week seven as a guest getting 87 bucks in about two hours. It was the least amount of time I'd spend that week to get over the hundred mark which was a good thing the rest of the week after me pretty hectic anyways, so total books that came back with was 132. And the total amount of time I spent with travel listing and sourcing books was seven hours making it the lowest amount of time I've spent for the entire challenge. And also the highest list price of $3,000 and the highest profit estimated profit at 1600 dollars. Average list price was 2288. And the average price was also a lower dollar and 53 cents. Because the source they got all those books from happened to be half off that day. So it made it even better. It's crazy how much money is actually equals out to given the amount of time spent

No matter how you split it, let's say I sell 80% of these books, which would be normally considered about average now would turn into $182 an hour for the seven hours spent. But let's say I'm a lot way below average, let's say only 50% of these books sell I'm terrible listing and pricing them whatever, selling them an app on Amazon, even if only 50% of these books sell, that's still hundred and $14 an hour for the time spent that week. Those of you that have been following along my past weeks know that this is not an every single week occurrence, but you also know if you've been following along that my time spent has gone way down since I started drastically down since I started because I've worked on increasing my efficiency in sourcing and and listing and the shipping process, which makes it a lot of time spent down which makes the dollars per hour go up as long as I'm getting the same amount of books last 13 to 40

13 or the last two to three weeks, three to four weeks, maybe I haven't spent more than 13 to 14 hours in the entire process for an entire week for the 100 book challenge, because ultimately staying consistent and making your processes more efficient is going to make you more successful in the end. Now, you might be thinking that I just got lucky week seven, getting 87 books at one time, and also happening to find such valuable books.

But I challenge that thinking because I had that thought at first. At first I was thinking, Oh, I just got lucky, this probably won't happen very often. It's nice to happen this one time, but how often is is actually likely to happen. But then it's not occurred to me and I don't mean to make this a motivational type thing at all sound like that. I'm sorry, this is more for myself. But it's that consistency equals opportunity. The more consistent you are, the higher likelihood you're going to have of getting the lucky occurrences of getting a lot of books or getting a really, really good

are building a relationship. Let's say just for example, you have someone going out one hour, one day a week looking for books, you have someone else going out one hour a day, two days a week, looking for books, statistically speaking of all other variables at the same, that second person is going to be twice as likely to find a really, really good source to build a better relationship, to hit the jackpot when something happens to go right and get a lot more books or a lot more profit from a single source than the first person would.

Especially if the second person does that every single week consistently, and the first person doesn't occasionally some weeks to do with some weeks, they don't be as consistency ultimately equals opportunity. So the more consistent you are, the higher the opportunity or the higher the chance for a good opportunity. It's going to come your way. Now consistency isn't the only driving factor in success. There's a lot of other things that lead to it. But I think consistency at least that

has been in my life. And the thing is a lot of people is the biggest hurdle for them to success because they're not consistent. They try something for a little while. It doesn't work perfectly right away, they give up and go on to something else. I've done it many times in the past. So that's my challenge for you in week seven is to stay consistent, more consistent you want for the rest of this challenge, the better the outcomes are going to be, regardless. Good luck sourcing on week 8!

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Matthew Osborn
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