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While traditional bookstores around the world are currently facing challenges as a result of declining sales and traffic, bookstores in China are experiencing a revival, which is credited to one of the biggest e-commerce platform in the country, JD.com. The platform has its own online book venture, but they are also providing help to 49 bookstores as far as logistics, book procurement, as well as technology. Providing solutions to book stores around China is part of JD.com’s strategy entitled “Retail as a Service”, under which they provide various services and necessary technology to companies from different industries.

The founder of Tangning Bookstore, Ningxin Lu talked about the partnership between JD.com and Tangning, stating that without the help of their technology as well as supply chain expertise, Tangning business would not have competitive advantage as far as the traditional mode is concerned. One significant partnership that resulted from the RaaS strategy has been between JD.com and Tangning Books. The two companies partnered in May of 2017, and they sourced all the books using JD’s inventory, and using the e-commerce platform’s in-house logistics ended up saving costs and also cutting on delivery delays.

As a result of the partnership, Tangning experienced an increase in sales of 30% from May to the end of the year, and its profits also increased by 17% over that period. Tangning Books was also able to reduce turnover from one year to 220 days, and having access to JD.com’s data analysis capabilities, Tangning now has insight about buying behaviors, and they are able to choose book assortments that are tailored to the company’s customer base, which in turn leads to more sales. While offline book stores have to deal with the fact that they can not stock every book that their customers might as for due to the limited space they have available, Tangning Books can now let customers scan QR codes for every book that they can not find in store, and they can get it delivered within 24h from the inventory of JD.com instead. This allows both companies to work together in order to create an endless aisle when it comes to the choices they offer their customers.

Investing in real estate is a common strategy for people who want to improve their finances. Although real estate investing can be complicated, Nick Vertucci believes that anyone can have success as an investor. Nick teaches an online real estate investing course for people who are interested in this area.

Nick Vertucci started working in the real estate industry at a young age. He took massive risks early in his career, and he was able to build a substantial portfolio as an investor. He is an excellent person for new investors to learn from.

Loans

One of the most significant obstacles that real estate investors must solve is related to lending. Few investors have the cash to purchase an investment property. Although banks are willing to lend capital to investors, it is critical to have all of the financial information ready.

Some real estate investors borrow too much money when buying investment properties. Borrowing too much money can lead to cash flow issues in the future. Nick Vertucci encourages new investors to borrow money only when necessary.

Tenants

Tenant management is a critical aspect of investing success. Hiring a property management company is the easiest way to deal with tenants. However, some investors want to save money and manage a home themselves. It is a good idea to interview multiple tenants before allowing someone to live in an investment property. Hiring bad tenants can cost thousands of dollars in damage and lost rental income.

Other Ideas from Nick

Nick Vertucci is an accomplished business owner who is always looking for ways to increase his income. He recently wrote a book related to real estate. He teaches his clients to look for ways to improve their income to fund rental property investments. Over time, he firmly believes that anyone can become financially independent by following his plan.