Jon Shugart, CEO of Book Profits, obtained his Bachelor of Science in mathematics with honors from North Georgia College & University and his Masters of Education Leadership from the University of Southern Mississippi.
Shugart taught high school mathematics for 4 years, but became enamored with the promise and potential of technology and enrolled at the Georgia Institute of Technology to study Computer Science in the year 2000. It was the best decision of his life.
Over the past twenty years, Jon Shugart has followed his passion for technology and entrepreneurship and built several multi-million dollar businesses from scratch along the way. Equally important to his own personal success is the satisfaction of helping improve the quality of his customers’ lives and helping them achieve wealth and independence.
Whether using marketing automation or leveraging big data, Shugart has successfully tackled problems that very few others have even tried to solve.
Shugart has gone on to launch several software products over the last ten years, with the most recent one, Book Profits focused on the used book market.
With the incredible power and reach of Amazon and the ability for anyone to successfully sell on their platform, Shugart and his business partner, Luke Sample, saw a great opportunity to create software to help others improve their sales, or even start from scratch, and create a thriving business selling used books.
Since 2016, Shugart has been building the best software and community for used book sellers on Amazon. The user base and community has grown so much that, in the world before COVID-19, there were sold-out live events where members get together to help each other grow, along with learning opportunities from some of the top sellers in the community.
Jon Shugart has proven himself to be an innovator and leader in the space and doesn’t see any signs of slowing down. He gives 100% effort every day to his customers and community to help them reach their own goals through the software solutions he helps to create.
We had the opportunity to sit down with Jon Shugart and learn a little more about Book Profits and get some practical business and entrepreneurial advice for our readers.
Can you tell us a little about how you make money on Amazon?
You can actually go to Amazon.com right this very moment and do a search for textbooks. And there are hundreds of examples where you could purchase a textbook on Amazon, have it shipped to you, and there are even lots of ways to avoid getting it shipped to you, but we don’t really have time to get into that right now, but actually have a book shipped to you, and then immediately send it right back into Amazon in their trade-in program and make a profit.
It’s really as simple as that.
What is Book Profits?
Book Profits is an online training program along with sophisticated software created by me nd Luke Sample that will allow anyone to work from home and build an incredible business using book arbitrage strategies on Amazon.com.
We wrote software that we use and other people that we are teaching use to make it incredibly easy to find arbitrage opportunities at the click of a button. It’s a Chrome extension, and it analyzes the page on Amazon, and it is able to show you all the different books that are available right now that may be profitable and just how profitable it can be, by sharing historical pricing and other data and analytics.
What is the biggest mistake you see others making in business?
I don’t spend a lot of time thinking about others really, but some of the mistakes that I have seen are poor customer experiences and poor products. You have to have a great product but also a great customer experience with the product to have success longevity.
What are the key elements for starting and running a successful business?
The most important element is having a great work ethic, because you will never work harder than when you work for yourself building a business. The second most important element is grit. You have to keep going and find a way to succeed no matter what. After those two, you need what most people think of, such as a great product, a great team, and great sales or funding.
How do you prioritize your work?
We always prioritize our customer needs first. So, I work on anything that affects them directly first. After that, I work on things that help grow the company’s sales. Then finally I will focus on new products or features.
How do you handle investors and funding issues in your business?
We do not use investors but self-fund our growth through sales.
How do you find a work-life balance? How do you like to spend your free time?
I’m not sure there is such a thing as work-life balance for an entrepreneur. I just try to spend as much time as I can with the family and make sure we have memorable moments throughout the year where we do things out of the ordinary, such as vacations or trips to the museum or other places that will create memories.
Please share a quote that has been most meaningful to you?
One of my favorite quotes is from George Bernard Shaw and goes:
“You see things; and you say ‘Why?’ But I dream things that never were; and I say ‘Why Not?’
Life comes down to perspective, so this quote helps me to re-align my perspective sometimes when I start focusing on things that are happening or have happened instead of creating what I want to happen.
Who is the one entrepreneur to be your greatest example and inspiration? Why?
I have to say that Elon Musk is quite an inspiration. He was willing to bet his entire fortune to build industry and even civilization changing companies and has succeeded thus far. From a business perspective, I think he will make quite an impact on the world and I do admire his drive for that.
Thank you to Jon Shugart, CEO of Book Profits, for sharing his insights and ideas in this interview!