What do accountants know?

[muskanislam25]

Andrew Reynolds: I apologise to any accountants in the room, actually I do have to be so careful this weekend because my bank manager and my accountant are in the room.

So Jane, my bank manager I do apologise in advance darling, Jane has been so helpful, she is the best bank manager I’ve ever had.

We are currently renegotiating the rate on my credit card services so she is fantastic.

Accountants, God bless them. Accountants get their kicks, phone number data Andrew if you are in the room I do apologise mate, accountants get off on getting a row of figures and another row of figures and balancing them. And they get all stressed out if they don’t quite balance. They work the magic and all the numbers, that’s how they get off, they get their kicks from adding up bits of numbers and things.

Don’t ever ask your accountant for directions in business. Accountants keep the score, they don’t play the game.

You should see my accounts bill next month, Jesus.

Andrew Reynolds: Just jot down, you need to get a mentor. You need to have a mentor who you can look up to who has got business experience. Don’t do what I did and go to college and learn how to run a business from people that had never run one for themselves.

I learnt from my dad about bricks and mortar businesses. My dad started off in his shop, he used to rent the shop and then he decided it would be a great idea to actually buy the freehold, to go and get a bank loan, huge great mortgage and buy this thing. And they had a survey done on the building and found that it needed loads and loads of repair and my dad thought “That’s good because I can go and negotiate the price down with the owners and get it cheap. Fantastic.”

So he took out a huge great bank loan and he bought this thing which was in dire need of repair, but he hadn’t quite sussed that the business model, the margins were so small there was only just enough to keep the Reynolds household fed and watered, there wasn’t enough to pay for the repairs.

I remember the frustration on his face when it used to rain because it had an asbestos roof on this thing and it had come to the end of its useful life. It had holes in it and every time it rained my poor dad would run round with buckets putting buckets under the drips to stop the stock getting wet. It was pitiful to see just the rage on his face.