Andrew Reynolds: I started life in a caravan; I was brought up in a caravan. I wasn’t born with a silver spoon in my mouth. A lot of these entrepreneur types the famous ones that you see on the TV, you check back into their family history and I think one of them his father was a judge and others had loads and loads of money. I was born with no silver spoon at all. My parents for all of my youth ran a hardware store in Winchester and I just want to talk about the retail model for a second, apart from the sports business obviously because it is a complete nightmare. As a kid The Reynolds family had no money, we bounced along the poverty line for all of my years living at home.
I’ll just show you the cash on demand system versus traditional business. I want to show you this because people see the cash on demand system and think “Oh yes” and they take it for granted. But I want to show you some of the alternatives to cash on demand to try and put the thing into context otherwise you go away from today and “Oh yes that looks easy yes I’ll have a go at that.” But you need to understand the downside if you look at other types of business system.
Andrew Reynolds: In my dad’s old shop we used to have 16,000 items, different items of stock. So in that business imagine you go out you buy all the stock on credit because you haven’t got the money, as a shopkeeper you haven’t got the money so you buy the thing on credit and you hope that people come into your store and what to buy the stuff you’ve got in stock which is totally different to the system I’m teaching you today.
You put out your open sign and then you sit behind your counter. So you open your shop, you stock it and you wait for somebody to go past the front door and to come in and actually buy something.
And you sit in your shop this is the graph of a typical retail store. January the 2nd you open the front door you sit in that store for the whole year you get peaks and troughs in turnover and things it dips round Easter, it dips in the summer holiday but you have to be there for the whole of that period. That is the retail model you have to open six, seven days a week. You have to be there if you are running your own little business you have to be in there six or seven days a week in case a customer wanders by.
Andrew Reynolds: I took a friend of mine and her daughter up to London last week; we went into Hamley’s toy store fantastic place, love Hamley’s. Love going in there and playing with all the toys. Hamley’s the top toy store in the world they lost £3.6 million last year, anybody want to open a toy store? I mean it is all in the news, MFI, MFI with all their money they lost, I mean imagine opening a store today thinking I know I’m going to lose half a million quid this year. They lost 600 grand they are now trying to re-jig the whole thing and sell up market kitchens and things but they lost 600 grand.
In Vienna there is a beautiful, beautiful old tobacconist shop. Lovely place, lovely old cabinets and things, a beautiful, I mean you can see the old till here for taking the money. Beautiful old place. The giveaway is on the sign it has been open since 1811, generations have operated this tobacconist store. Can you imagine one day son this will all be yours “Oh bloody great thanks.”
Andrew Reynolds: Can you imagine dad says “Right well I’m off now son you can take over the family firm” so he hands you the keys and you are a young guy and you think “I’m going to make some money out of this.” So you stock this out with all the cigars and everything you are ready to go. You open the door the next day. Sixty years later you life is gone, you haven’t enjoyed the life, all you’ve been doing is sitting indoors waiting for people to wander by.
You have been gazing out of that window for 60 years of your life, as a kid you were in there as well because dad used to have you behind the counter.
I know this because that’s how it used to be when I was a kid, you stay in there because the whole Reynolds family is waiting for somebody to come in and buy a cigar.
Why would you want to spend your whole life running a business waiting for your customer? Your customers are controlling your life that is the opposite of what I am teaching you today in the Andrew Reynolds system..
Why would you want to do that when there is so much else going on out there?
Andrew Reynolds: Sorry about the legs. I can be on that beach front over in the states operating my business. I can be there, not inside some pokey little shop looking out the window looking for Mrs. Goggins to go by the front door everyday and see if she is going to buy something.
I can be on that beach front in the evening having downloaded my orders, having sent them over to the UK to fulfilment house where they have sent everything out. I can check my bank statement online and I can see that the money has come in; it doesn’t get much better than that.
I love going to Las Vegas not for the gambling and the women obviously. I love going to Las Vegas, fantastic shows over there. I can operate from Las Vegas; I can operate from a suite in the Waldorf Astoria. Why would you want to sit indoors gazing out of the same office or shop window?
Andrew Reynolds: I didn’t want a situation where my customers ruled my life. When I want the money using the cash on demand system I just go out there and tell them they can now spend some money thanks very much.
Rather than just sitting there month after month after month I’ve a different way of doing things. I get my customers lined up behind the start line, champing at the bit, a hungry crowd that we talked about in cash in demand. I get everybody ready they are all gee’d up ready to go as soon as we release that tape vroom, they are off.
Andrew Reynolds: When I want some money I go out there with a starting pistol – don’t point it at them. I fire the starting pistol and say right go. You have got 48 hours to send me all your money and I always have a finish line as well. I don’t want a situation were I put the thing out and then I let it go on to the end of the year. I want, because the cash on demand, and the lifestyle I want to have I want to say right I’m going to do some work this week. I’m going to pull in some money then I’m off to have some fun.
That’s the system I use that’s what I’m showing you today, that’s the Andrew Reynolds system I use. I have a start point and a finish point just in that very small race in that small amount of time the money comes in and then you have a gap when you go and do something else.
That’s how we were showing you earlier the journalist guy that I spent time with last year that’s how we were able to set something up and within five days bring in over half a million quid. Live on camera. I mean there is nothing more nerve racking apart from doing seminars, there is nothing more nerve racking than having a camera over your shoulder as you try and pull in some money and you are thinking I hope this internet connection works.
Do I know when it is going to be broadcast? No not yet. I’ll just play you a snippet I don’t want to dwell on this because most people have seen this at Wembley.