Andrew Reynolds on Proving Business System Works – Part Three
Andrew Reynolds on Proving Business System Works Part Three
Andrew Reynolds is a multi-millionaire who makes his money by doing business another way, in a non-traditional way. At the Bootcamp Andrew Reynolds showed us all how to use this same system to create wealth in our lives.
As Andrew Reynolds explained he developed this system by growing up in a loving family but one where each day was a struggle to make ends meet. Poverty dogged every step his father took as a self-employed man.
His father first sold paraffin. Back then, paraffin was the central heating of the day. Everybody used paraffin heaters in the rooms that didn't have an open fireplace. Andrew's dad delivered five-gallon drums of liquid paraffin in a van with his name on the side. He was his own boss, but the hours were long and the work hard. Worse still, the income was just above poverty level.
Then his dad managed to get enough money together to open a small hardware store in Winchester. He thought it was the start of a much better life for this family.
As Andrew Reynolds explained the model of retail was seriously flawed. He watched his dad wait hours for a customer to come into the store. When a customer finally walked in, they would maybe want a couple of screws. His dad would have to find out if they wanted counter sunk ones or round headed ones, and what size. All those sizes and types of one item his dad had to buy in and stock in his store. It was money going out before he got any money in.
At the Bootcamp we watched Andrew Reynolds on film explaining to the reporter, about the small profit margins of his dad's business. He would sell a few items and only make something like a tenner.
Andrew Reynolds own business system is exactly the opposite - he buys in at a quid and sells for several hundred pounds. He created this system because of what he learned from his father's businesses.
In case you're wondering, as I did when I first heard this, his products are always value for money. You see that for yourself at an Andrew Reynolds Bootcamp.
If you'd like to know more of what I and all the other attendees saw on this film at Andrew Reynolds Bootcamp go to: Andrew Reynolds on Proving Business System Works - Part Four