Speaker 1: 0:01

hey, ellie yes, andrew knock knock who's there? I saw.

Speaker 2: 0:07

I saw who.

Speaker 1: 0:08

I saw does love you a lot that's like super dead joky. I know and taking into tradition, and I'm when I say tradition, this is the second year in a row we've done it, so now effectively we've made it tradition.

Speaker 2: 0:26

It is totes tradition.

Speaker 1: 0:27

We are taking the plunge into opening our season, our content extraordinaire, with a love episode.

Speaker 2: 0:37

Oh, I love that. We're just going to say love a lot, I think, today.

Speaker 1: 0:41

And what better than doing a love episode, than bringing two people that we love onto the episode?

Speaker 2: 0:45

like we had last year as well.

Speaker 1: 0:47

Yes, our amazing friends. The co-hosts of the tech edition maybe holdsworth and jack deal.

Speaker 3: 0:53

Thank you welcome round of applause amazing, great to be here um, uh, thank you guys.

Speaker 1: 1:01

Now you're here, we're gonna go to the theme tune and we'll be back in a second and I have a story to tell you all.

Speaker 2: 1:05

Oh, I'm looking forward to that one.

Speaker 1: 1:06

Okay, go.

Speaker 2: 1:20

So, Andrew, you said you've got a story. I love your stories. Do you want to share and care in this loving environment that we're just about to build?

Speaker 1: 1:27

I do.

Speaker 2: 1:28

Okay, here we go.

Speaker 1: 1:29

Before I say the story, I do have to say Say the story, say the story. The first thing I say is that I've had a few beverages you have not at all, you haven't. I had two glasses of water.

Speaker 2: 1:41

I know Well, andrew, who are you? Normally, you're a few bevvies in by now.

Speaker 1: 1:45

I mean it's 3.44, so you're probably about right. Yeah, absolutely, we don't have any beer here. That's why.

Speaker 2: 1:50

That's so true. I have no alcohol here whatsoever. For those, listening.

Speaker 1: 1:54

I have jumped on a plane and I've headed to Adelaide the great state of.

Speaker 4: 1:59

South Australia.

Speaker 1: 2:00

Adelaide and Ali and I are hanging out today. For the next couple of days I think we're going to the Barossa Valley. Maybe do some mini golf.

Speaker 2: 2:07

Yes, yes, with Handorf. Handorf, that's right, jack, you know what I mean. I'm taking him to all the spots and we're going to Fugazi tonight for dinner.

Speaker 1: 2:20

And Jack, who's also in Adelaide, but I think as of tomorrow he's not in Adelaide, so Jack and I will like be boats in the night.

Speaker 2: 2:25

Oh, ships in the night, and Amy's literally. Did you do that purposefully, jack?

Speaker 3: 2:29

I didn't.

Speaker 2: 2:31

Oh, you should have just said you did.

Speaker 1: 2:33

But yeah, and Amy's literally like in where I grew up, in Frankston right now physically, which is hilarious because, like I would have driven like five, ten minutes and been past you, so you're down there, which is hello. We're all kind of crossing each other's ships in the night story. So the reason I'm saying why that's a thing yeah because I'm at ali's house recording yes and for those of you who have religiously listened to this podcast for the last three, four, five years.

Speaker 2: 2:58

I did actually meet somebody this week that that has, so that's, that's a good thing.

Speaker 1: 3:02

Was it your?

Speaker 2: 3:02

dad. No Shout out to Morgan, who I met this week, who's absolutely delightful. Thank you very much. A fan of the podcast.

Speaker 1: 3:10

Big shout out. But yes, because I'm at Ali's house recording right now and, as you know, Ali, her drink of preference is sparkling water.

Speaker 2: 3:17

Absolutely.

Speaker 1: 3:21

That means the drinks on offer here are slim. She could have. Could have made me a pepsi max with a little with my soda stream.

Speaker 2: 3:26

But that is pretty much.

Speaker 1: 3:27

It needless to say, I strategically have booked accommodation at a hotel over the weekend and it's. It's not that I didn't want to intrude on ali and her family it was more that I just wanted to ensure that there was beverages available.

Speaker 2: 3:40

But might I say? We're heading to the barossa tomorrow. There There'll be lots of bevies on hand then I'm just prepping you for tomorrow. So you have a big one and I'm designated driver. That's the bonus of me not being a drinker, so beneficial.

Speaker 4: 3:58

I think when you're always the designated driver.

Speaker 1: 4:00

You don't not call the designated driver, you just call the driver.

Speaker 2: 4:03

True, that is so true, and that's what I just call myself all the time. Anyway, I have a story, I have a story yes, please share this.

Speaker 3: 4:09

That's the end of the episode two glasses of water.

Speaker 1: 4:12

So far I don't have any water on me, so I might get dry here.

Speaker 2: 4:16

But oh, do you want some of mine? There's a chat. No, that's disgusting what I don't share glasses.

Speaker 1: 4:20

You don't share glasses with my wife. You don't share glasses. I'm not even with my family.

Speaker 2: 4:24

Not even with your wife. No, okay, let's unpack this a little. What do you mean? You're like you kiss her, so surely you're exchanging you have three children. There's been fluids exchanged, hang on what, Jack, I don't share glasses either Is this a boy thing. Preach boy, boy, preach boy, but like I feel, like I'm pretty like I'm nonchalant about this stuff usually, but now that I'm I'm aware of this moment, it's a strange, but can I just say you don't share toothbrushes, but you can share a drink oh, you can, just I don't you can, but you could also choose not to get your own freaking drink this isn't just it could also be like the macca's chip theology of like, hey, do you want something to eat?

Speaker 1: 5:05

no, I'm fine, and you get out and they're in your chips. You're like stuff.

Speaker 2: 5:07

You, mate, get your own damn chips so we respect that you have your own glass of water and we say we will get it right. But you should know to get the other pack of chips or to get the large ones. You should know that, that's just unwritten.

Speaker 3: 5:17

That's an unwritten law.

Speaker 2: 5:18

The average order has gone up, you're like Joey in Friends, Like I don't share food.

Speaker 1: 5:23

I just don't share drinks, I don't know. There's just something about like mouth bits that then just like float around in a glass of water. And as you go to drink it, you're looking at it.

Speaker 2: 5:33

I can understand that if I was a one-year-old child, that was backwashing, but I'm not. Anyway, it sounds like.

Speaker 4: 5:39

Anyway, sorry, where's the story Andrew?

Speaker 2: 5:42

Yeah, story Andrew Gosh.

Speaker 1: 5:44

So this is supported by ChatGPT. For those of you out there who utilize AI tools, of which I very rarely do, I probably should do more. I just asked ChatGPT to give me a story, a romance story. Here is the story I did give it a few more prompts around particular things.

Speaker 2: 6:01

Here we go, here we go.

Speaker 1: 6:02

It's called Love at First Ledger.

Speaker 2: 6:04

Oh, accounting post. I read it right off the bat.

Speaker 1: 6:08

Love it. Jack slumped over his desk, drowning in invoices, tax deadlines and a cash flow forecast that looked more like a horror movie script. His cafe was thriving, but his books a mess. He needed help fast. Enter Amy the accountant. She strolled in with a laptop, a coffee, black, no sugar, just like his profits, and a confidence that made Jack question if she secretly was a superhero. Jack, have you ever reconciled your bank account, she asked? Jack blinked I once reconciled with an ex. It didn't end well. Sophie sighed Okay, let's start small. Sophie, amy, sorry, amy side, let's start small do you know?

Speaker 1: 6:50

what a pnl statement is. I assume it stands for pain and loss, jack over the next few months.

Speaker 3: 6:57

Amy worked her magic.

Speaker 1: 6:59

Cash flow stabilized, tax time became stress-free and even jack understood his profit margins. His cafe ran smoother than his best espresso shot. One morning Jack stood on the counter and shouted I love my accountant. Customers cheered. Amy sipping her coffee, smirked Careful Jack, if this gets serious I'll have to start charging you. By the hour Jack grinned worth every cent. And with that he knew this was the best kind of love.

Speaker 2: 7:38

You need to publish that. That is beautiful, that was a one prompt story.

Speaker 4: 7:46

What was the prompt that you put in out of?

Speaker 2: 7:47

curiosity Provide me a sexy counting love story.

Speaker 1: 7:52

We'll get there in a second. But how do you feel about the story? Like I look at that, and it's the journey of, like, the business owner who's drowning Like I feel like things are good, but I don't know if they're good, so it's a love story.

Speaker 2: 8:02

It could be a love story.

Speaker 1: 8:03

It's a love story, but it's also, I think, a story of a business owner who, like, was just a bit cheeky and didn't take things seriously enough until their accountant came along and said, hey, these things are actually kind of important. Maybe pay attention your butthead yeah, so you know, jack. Jack said you know what's a penile statement that stands for pain and loss, right yeah, that's a good pun, I really. It stands for pain and loss, right yeah? Come on, mate, just mature up a bit, but that's a good pun.

Speaker 2: 8:26

I really like that.

Speaker 1: 8:26

I might actually start to use that with my clients moving forward, to be honest, because that's how they feel sometimes it is, but yes, so the prompt that I threw in there was hey, chat, gpt, can you please write me a 200-word short story? It story whereby a business owner falls in love with their accountant. However, the love is not physical or an emotional one, more a love for how the accountant helps them to run a great business. You're a very good prompter.

Speaker 1: 8:49

Please start the story with a business owner that is overwhelmed, and end the story with a business owner that is in love with their accountant and wants to tell the world about them. Please add a joke or two in. That can be slightly inappropriate, but please no swearing. That's what I thought. Hey, what a great prompter.

Speaker 2: 9:05

I tell you what? We're going to turn this into a ChatGPT prompt session, but I really like the theory behind this Right.

Speaker 1: 9:15

Right. So this is what I want to unpack with the three of you, four of us is the story of the business owner falling in love with what it is that we as an industry do. There often can be jokes about it where you kind of you know pain and loss or whatever. There can be people you know just avoiding it altogether and the stress and that kind of thing. There can be stereotypes that are thrown out. Then we all know my opinion and that kind of stuff.

Speaker 2: 9:41

But like the journey from not loving accounting or your or your accountant, to then loving them and what actually happens through that process, yeah and look, the first thing that kind of jumps to my in my mind is that relationship, right, trying to build that relationship, giving them help, giving them value, letting them fall in love with their business letting them understand, like the love languages of their business, so that they know what to give their business, so that the business responds in a way that they need.

Speaker 2: 10:13

Um, that's kind of my first response, but I always go back to your clients are going to love their business and love what you do. If you love it like, it has to come from authentically from you. First, and going back in my story, I did fall in love with accounting, you know, 30 plus years ago and I still love it to this day. And I think my clients come to me because they see that, because they see how much love I have for the industry, how much love I have for their business, and then that kind of folds into how they feel. I think that's true true and correct.

Speaker 4: 10:46

For most accountants, though, that actually love what they do as in, like if they love being an accountant, they typically therefore love their clients, and it's reciprocated in kind. Yeah, completely. All the decent accountants that I know out there, I mean, you're all decent oh thank you so much you ever get uh invited to the weddings of your clients yes, yes I

Speaker 3: 11:09

think that's a good sign right it's.

Speaker 1: 11:12

It actually is that strange. When I went to an engagement party of a client, uh, mid last year and uh, it was like client and his mother as well was there and and I, I really get along with his mom. Her partner passed away a couple years ago. We've, we've supported, looked after and she's an absolute gem of a woman, um, and it was just this beautiful, like they were like oh, this is andrew, um, he's our accountant and he's helped us through all these kind of things, and it was like it was. It was almost like they were trying to like pitch like people at the engagement party. I'm like yo yo yo chill, yo yo chill.

Speaker 2: 11:42

Like I'm actually here to have a couple of babies and celebrate you guys, you don't have to like I appreciate it, but like it is, and vice versa. I've invited clients to my wedding or to my children's christenings, and some clients that I've had for a very long time, especially some of them, treat me like I'm their daughter, yeah, and like they're like my dad, and so I think you know that's a really beautiful thing about the relationship component of being an accountant because I can't imagine the same amount of that would be happening with your broker or your lawyer or your engineer.

Speaker 4: 12:20

Yeah, it's a unique relationship because it is because it's annuity.

Speaker 2: 12:23

It's an annuity business right. They come to us day in, day out. They need us a lot. But also I've always thought this They've become so vulnerable that they share some information with you that they don't share to the external world, or you know things about them that others don't, and so it's kind of like every single skeleton in their closet in some ways.

Speaker 2: 12:45

But there's a real vulnerability in opening up about your business, because a lot of ego is attached to that as well. So it truly is actually a relationship, yeah I think I mean it's interesting.

Speaker 1: 12:53

Jackie said, like you know brokers and lawyers and those things. It's funny because, like those you know, brokers are like the. I mean I I like I've got a couple great brokers in my world. I love working with them. They get great, they get great results for clients, but they are like the hit of like oh you got me the thing, and then they disappear for a bit.

Speaker 3: 13:10

And then you got me.

Speaker 1: 13:10

So sometimes people might love their broker more than their accountant, because sometimes the accountant is the one who's saying no, whereas a broker usually is only ever saying yes and then simply just telling them, like, how much money they have to spend, and not necessarily telling them whether they should or should not. And so, if you look at that from a two-way love relationship and brokers if you're listening to this, I'm not suggesting you guys are nasty, please but the love that an accountant has for a client means that they are bold enough to tell them no and bold enough to give them advice that maybe they don't want to have, because they know that it's the best thing for them, instead of simply just telling them what they want to hear.

Speaker 2: 13:49

I really like that point that it's the best thing for them. You actually have their best interests at heart.

Speaker 1: 13:54

If I love you, I want the best for you. I don't just want you to have this thing.

Speaker 2: 13:57

The thing about a relationship, though, is that you have to. You can't just all be bad news. It just can't just all be bad news. It just can't all be no, and we have to manage that as well, like we're often giving them hey, you've got this much tax to pay, tax to pay. Nobody ever likes to hear that, but we have to message that, and we have to have enough communication and care around that, so we do have to develop quite a deep relationship in order to have some of these really hard conversations. Amy.

Speaker 1: 14:22

You're not an accountant? No, I'm not. You have an accountant.

Speaker 4: 14:27

I definitely have an accountant.

Speaker 1: 14:29

Now this could be an awkward question. Yes, you love your accountant.

Speaker 4: 14:34

I love the service that he provides. Definitely, okay, that's good. Was that diplomatically worded?

Speaker 1: 14:39

Yes, we were not saying do you actually love them?

Speaker 4: 14:43

I'm not in love with him, no, but. I do really like them a lot.

Speaker 1: 14:48

Yeah, they do a great job. They do a great job. You love the relationship, the professional, service-based relationship that you have with them. What do you love about that?

Speaker 4: 14:57

we, I. So this is an interesting one. I knew my accountant. I actually, back in my ignition days I used to share an office with, uh, one of these accountants, and then he moved on from this particular accounting practice to another one and then I kind of followed him. So I knew him from a bit of a personal level as well. He's a straight shooter. He's one of those people that he's like oh yeah, you could do this, oh, you could do that. But sometimes I'm like what is in my best interest? Sometimes I really hate accountants who can't actually provide an answer and just go.

Speaker 1: 15:30

You need to be doing this, yeah, like they kind of sugar like as in they they try and cover their asses so much they don't actually give you an answer.

Speaker 4: 15:36

Yeah, and I understand why that happens, but sometimes, as a client who's not an accountant, I'm like I'm coming to you for advice yeah, just tell me just just tell me what I need to know, right, and that's something that I love.

Speaker 4: 15:49

The other thing that I really like about him is, uh, he's just a good guy. You know, we have good conversations about our travel. We really both enjoy travel and that kind of stuff and it's we you know, we talk about apps and bits and pieces as well, obviously, from my perspective, and it's just, it's just a good mutually. You know, it's a good mutual relationship. I get a good service and I hope that I'm a mostly half-decent client.

Speaker 1: 16:12

Next week on Ellie and Andrew's All of the Accounting Conventions. We talk with Amy's accountant to see if she's a shit-ass client.

Speaker 2: 16:19

But I really love what you said there, amy, because I actually think it's a really critical point that we can get into this scenario of just information giving and not actually saying, hey, this is what I would recommend. Knowing all of these things about you, knowing all of the industry that I sit in, all the information I know is looking at what other clients are doing, what would I do? I think it's actually really important to provide a point of view, not to enforce that point of view, but to at least provide it, um, as a sticking point, um of conversation, because there are some clients that don't want that, but most do here are your options.

Speaker 4: 16:54

This is what I would probably do, but here are your options. You need to make this decision. Here are the reasons pros, cons, blah blah blah, yeah, yeah, a fully informed decision I do find that is a very challenging thing for a lot of accountants to do.

Speaker 1: 17:06

I would I challenging thing for a lot of accountants to do I would, I would probably say, the majority of accountants to do, because there's there's a couple of reasons behind it. One they go. I'm here to deliver accounting advice and, theoretically, what you're asking me for is business advice, not accounting advice.

Speaker 4: 17:20

Hang on, but I thought you were business advisors.

Speaker 1: 17:22

Yeah, well, hey, some people don't call themselves that but the second thing is as well as they go, well they go. I don't want to be held responsible for even though I might not be making it so you don't want to be accountable, even though you're an accountant.

Speaker 4: 17:34

I don't want to be accountable for the advice greatest irony of the industry in case I know but no, we have to be careful not to

Speaker 1: 17:42

be, acting.

Speaker 2: 17:42

we have to be careful not to be acting in like quasi-director roles right, like I get that. We're not manipulating, that's right. There's this difference between making every single decision in that person's business versus providing advice on particular parts and giving an opinion. I think that that's the difference there.

Speaker 3: 18:01

Yeah.

Speaker 2: 18:02

Yeah.

Speaker 1: 18:02

Yeah, okay, jack, you are an accountant.

Speaker 3: 18:11

Barely. Do you do your own accounting, still um my own accounting for my house. Yeah, yeah, do you look after? Yeah, I do my taxes and I do my own budgeting and all that kind of stuff I'll get the atr.

Speaker 1: 18:19

Do you love your accountant, jack? Actually no, we can't talk about that. This like that goes beyond adult writing.

Speaker 2: 18:29

Sorry, there's a point I just want to go back to when we were talking with Amy. Please back it up. I've listened to a few podcasts recently where business owners have consulted ChatGPT for accounting advice and say it's actually pretty good. And look, the advisory advice that ChatGPT gives is actually pretty good, and so that's why I think it's going to be more important as we move forward to actually have an opinion, to actually give that human element because they might be able to get it from elsewhere so what's why?

Speaker 2: 18:55

why would they get it from you rather than chat chippity? But I've also had a few scenarios where clients have gone and tried to get tax advice from chat chippity and it's been wildly wrong and confidently wrong.

Speaker 1: 19:05

Um, and so if you're delivering the advice, they're going to seek it elsewhere. It's more likely now in a modern environment they'll go. It's not going to cost me anything. Go to chat gpt. I'm going to trust that it's right. So either one of a few things happens they get really shitty, incorrect advice action on it and you're left cleaning up the damage and looking like the bad person because oh, it was wrong or whatever, and costing them a lot of money, or they're just stopping to talk to you and they simply look at you as a transaction, not as an ongoing relation. And that I mean you know the story behind illuminate. We're built to be relational, not transactional if we remove those conversations.

Speaker 1: 19:36

The questions you ask, the environment you put yourself in and the conversations you have, you just are a transaction and it comes at a price point and the danger in the current environment, with the technology where it is and where it potentially can go, there is. That's where there might be issues with you may be replaceable ellie, how often do you go to chat with gpt to ask its opinion on tax, complex things like, like technical things?

Speaker 2: 19:59

on tax complex. It's crap.

Speaker 1: 20:01

So no, I don't you don't ever ask it for, like oh hey, if I got a client asking a question about how to improve their marketing thing, what, what do you think would you do that?

Speaker 2: 20:08

oh yeah, I would put some stuff in there, but I would always prompt it with particular things like I know this, do this, I know this client blah blah, blah frame it in this way. So I would definitely prompt with more information. But if I'm completely stuck on something or I'm unsure, if I even want a sounding board, I use chat gpt as a sounding board and I also like to ask it things like throw me out of the box ideas and opinions. How might somebody else perceive this so?

Speaker 2: 20:33

that I'm actually looking at it and a really round convince me why I'm wrong. Yeah, convince me why I'm wrong. Well, how would somebody else perceive this? Can you make it stronger? Have I thought of?

Speaker 1: 20:43

you know everybody's divert, you know diversity in this question, and I do that quite often well, thinking of sounding boards and we're going to take a beat and we're going to hear, for some of our amazing soundboards, our I don't know how good am I at these transitions?

Speaker 2: 20:57

you're so good at the transition amazing sponsors.

Speaker 1: 20:59

We're gonna head to them and we'll be back in a moment and guess what? There's part two to the story Surprise.

Speaker 2: 21:09

Well, that's a good surprise. Part two Look at you go.

Speaker 1: 21:13

Love that first audit.

Speaker 2: 21:15

Audit. Oh gosh, this is new for me.

Speaker 1: 21:18

Jack's cafe flourished Under Amy's financial wizardry Taxes handled. Profits, sorry, stress, replaced by an oddly thrilling appreciation for well-balanced ledgers. But something else was brewing, something beyond numbers, one late night, as Amy explained, appreciation over wine. Jack swore it was foreplay at this point.

Speaker 5: 21:40

He blurted out marry me?

Speaker 1: 21:42

Amy raised an eyebrow Are you proposing because I optimise your tax structure? Maybe she laughed. At least you know how to invest wisely. A year later they said I do, sealing their vows with a binding prenuptial spreadsheet.

Speaker 4: 21:54

Sorry, Ash.

Speaker 1: 21:55

Carry on Soon. They welcomed twins, oh oh Twins, Andrew and Ali who, unlike normal children obsessed with cartoons, preferred balancing their toy cash register.

Speaker 2: 22:08

That does actually sound more like me One day little Ellie asked.

Speaker 1: 22:12

Daddy what's EBITDA oh?

Speaker 5: 22:15

yes.

Speaker 1: 22:15

Jack wiped away a proud tear. Sweetheart, it's the most romantic thing your mother ever told you. By the time, the kids were running their own lemonade stand, complete with profit analysis and tax deductions for lemons, jack stood on the cafe counter. Once more, I love my accountant. He declared and Amy smirked Careful, jack, I'm still charging. This time Jack didn't mind. True love, and a tax deduction was worth it.

Speaker 2: 22:45

Do you? Know Amy in one of our last episodes, you kind of put out into the world that you know you wanted to get married and have kitties.

Speaker 3: 22:53

And.

Speaker 5: 22:53

I'm like well.

Speaker 2: 22:54

Chachalite must have been hearing that. Look at you, we've married you off next episode.

Speaker 1: 23:00

Mine doesn't help when Andrew's pumped, but that's okay.

Speaker 2: 23:03

Sure, you've got to get rid of your current wife, jack, but you know, these things happen.

Speaker 1: 23:10

I should disclose this is not a true and factual environment of Amy, jack, andrew or Ali in one way, shape or form, but what I wanted to touch on with this. So, firstly, we talked about what makes you fall in love and that stuff. This is about a love story that has blossomed and continued and passed on. So how do we ensure that love is something that doesn't die and how do we ensure it's something that we can pass on to the next generation after us? Because there are accountants coming up and there are business owners coming up that are faced with things like AI technology, where they will go elsewhere for it. There are people who look at the industry and go.

Speaker 1: 23:41

I'm not sure this is something that I want to do. I don't see joy and appreciation in that. I know we've talked a lot on our podcast around those kind of things, but I thought I'd throw it out to the three of you slash four of us. How the hell do we make sure that the love doesn't die? How do we keep it rich and warm? And then we have beautiful little accounting business babies who appreciate the numbers and balance the tax and shit that we do.

Speaker 2: 24:05

I think we have to be authentic, be who we are, be loud and proud in some ways, and actually show our personality.

Speaker 1: 24:12

What if everyone thinks your authenticity is shit and they're like oh great, not everybody will.

Speaker 2: 24:17

The odds are that some people will like it. You know there are different spokes for different folks. I know that I'm not going to be liked by everybody and I don't want to be, you know. I want to stand true and proud in who I am and people are some people so is that the blanket just be authentic and she'll be right no, not at all.

Speaker 2: 24:34

I actually think we need to conscious, I think we need to consciously choose to put our personalities out there. Yep, to hide behind the numbers, to not hide behind no opinions, to actually be really forthright and say you know, this is who I am. I love accounting.

Speaker 1: 24:48

This is what we do, like actually being really loud and proud about it, and yeah, I think it's a celebration too, Like if I think of and I'm going to keep rolling with like love themes and terminologies.

Speaker 1: 25:00

I think of anniversaries and I think of people doing their wedding vows again. Those moments are celebrations of love and if I think about our industry and how do we maintain the love, we need to be finding ways to be celebrating that. So when we have a great result for clients, are we celebrating that? When team members do good things, are we celebrating that?

Speaker 1: 25:20

When our peers hit certain milestones? Are we celebrating that when team members do good things? Are we celebrating that when our peers hit certain milestones? Are we celebrating that and are we using this as a way to celebrate and build positivity and a great, healthy environment around us? Or are we always thinking about the bad stuff? And if you think about anyone that's gone through relationships that haven't gone well, more often than not you might start thinking about negative things more often than positive things.

Speaker 1: 25:42

And maybe it was a relationship that could have been saved, or maybe it was a piece of shit, one you should have burned years ago. But the more we think positive about things, more than likely the more positive it will be right.

Speaker 2: 25:52

And here's a question Do you think accountants are more negative or more positive?

Speaker 1: 25:57

I'm going to ask Amy and Jack. That's really tough.

Speaker 3: 26:02

I feel like because what do I see? I see yourselves, I see the accountants that I worked with and the various firms I worked with, and I see the accountants that I see at events and conferences and things like that. And I think the good portion of those have been really positive experiences and really positive people who love what they do, the impact they make for their clients. But I do get a bit of a negative energy from everything that I see online. I don't know why that is. I mean, I guess it's probably representative.

Speaker 2: 26:35

No, we've spoken about this.

Speaker 3: 26:37

It's broader than accounting. It's like everyone gets a bit negative online, but that's kind of you know maybe where you see some of the truth.

Speaker 2: 26:42

Do you think that's a true representation?

Speaker 4: 26:44

No.

Speaker 2: 26:45

I don't at all.

Speaker 4: 26:46

I don't think it is either, but I think there's a lot of accountants out there that are actually scared and or overwhelmed by the sheer volume of either clients and or client work that they have no-transcript.

Speaker 4: 27:15

Yeah, I agree. So back to Ali's point around the you know we need to be authentic. His point around that you know we need to be authentic, I think we also. I think accountants out there need to remember why they got into business and also what type of business they wanted to have. I think there's a lot of keeping up with the Joneses and designing businesses that they think are profitable or that they think is.

Speaker 4: 27:34

You know, this is what the expectation is of what sort of a business I should have, as opposed to what kind of a business I actually do want and therefore the number of clients, the type of clients. Do I have capacity to actually love my clients more? Because the bulk of the clients that I speak to these days, or the accountants that I speak to that are our clients. They don't have capacity, they are overworked, they don't have enough staff, there's all of those kinds of things. Now, yes, they are coming to me because they have problems. I get that, but they want to be better, they want to do better, and I look at their businesses sometimes I'm like just get rid of a quarter of your client base and that's going to solve your problem.

Speaker 4: 28:14

But that's because they no. I know that, I know it is.

Speaker 1: 28:19

And literally based on. There goes my profit. No, no, no, no.

Speaker 2: 28:22

but there could be the coffee clients that aren't giving you their profit.

Speaker 1: 28:24

This is the problem.

Speaker 2: 28:25

There's volume and the pain in the butts and you can't get rid of people are scared to break up with people.

Speaker 4: 28:30

I think the yeah, exactly what you were just going to say, ali, is, I think, the issue is that they don breakup conversations because they've spent all this time developing the relationship.

Speaker 2: 28:45

I'm going to start a business where um, I'm going to, I'll be, I'll just break up with your clients.

Speaker 4: 28:48

I don't have a problem with it. Yeah, you don't have a problem with it either.

Speaker 2: 28:51

Yeah, it's a great idea yeah, like I'm, I'm happy to do it on behalf of everybody else, just come to me, pay me for it to break up with them.

Speaker 4: 28:57

I'll go in there.

Speaker 2: 28:58

Tell them which ones they need to break up with, and I'll do it. It's not that hard.

Speaker 1: 29:01

You could also flip that as well is.

Speaker 2: 29:03

You could also be the matchmaker where, like I'm going, to go in there and I'm going to tell the client how much they're going to pay and why.

Speaker 1: 29:08

I'll be like the Tinder of accounting and you can pay me a percentage of the increase in fee that you would have got, versus you have got Yep 50% of what extra you're getting this year.

Speaker 2: 29:20

I reckon I could teach people how to do it. It really isn't that hard, it isn't. It's actually a tried and true formula.

Speaker 4: 29:25

I think, though, andrew, you and I were having a conversation earlier today just around the ability to emotionally detach sometimes, and I think that that's a really challenging thing to do. When you have spent all of that time building a relationship with a client, it's really hard to then go go. I'm going to emotionally detach from this and I'm going to basically say thank you so much, but this is no longer working for us and this goes back to one of my principles that I live with um, you know, um, fail cheaply, fail quickly, right, cut and run.

Speaker 2: 29:56

why are you investing yeah, money, time, resources, resources, care, emotion into something that is going nowhere? You are banging your head up against a brick wall and the only person bleeding is you. They will not care. Somebody else will take them on, don't worry about it, and not everybody is the right fit for you. We have to let go of this FOMO of you know. Oh, what do you? What do you? Well, no, they're not working. Go.

Speaker 3: 30:25

Like it's, it's. I think I can. I can obviously appreciate someone who's in the scenario where they're like I'd love to cut them, but I I feel like I can't. I need the, the little money that I'm getting I feel like I'm losing on anyway. But but you know, we always talk about cut 20% or cut 25%. Cut one, cut two. Like you can just cut the worst one and start there.

Speaker 2: 30:43

You know the ones that you literally every time you think of it gives you stress, or you're like I cannot. I cannot respond to that email, I cannot take that phone call. Get rid of them like. Best thing I ever did was cleanse my client base, best thing. And sometimes it's an easy price rise, right, oh, price rise, oh I'm so sad you have to go oh that's devastating. I've really enjoyed being your accountant. I'm really hope and you know I sign off to the new accountant good luck that could be taken anyway.

Speaker 4: 31:08

You know what, though, ali? That's even. Another point, though, is transparency around pricing. There's a real fear around being transparent around pricing, because there is this fear that, you know, if I tell them how much it is before we do the work, then the client's going to question the service, and maybe they won't want me to do their work, and maybe they won't like me for that, and then maybe they'll. It's like, oh my god, stop just stop.

Speaker 2: 31:28

What other industry does that, though? Like tell me another industry that's worried about what they're paying none oh no, there definitely is very few very few marketing professionals definitely. All empaths and creative right. Yeah, I'd say like.

Speaker 1: 31:45

But then you look at it, you go to an industry like the medical industry. It's like it's $200.

Speaker 2: 31:49

And lawyers same deal it's $200. My clients go to lawyers and they're like I'm so glad that you know they're like oh, you guys are so cheap in comparison to lawyers. I'm like Yep, Like, own your value. And this comes back to do we value what we do, Mm-hmm.

Speaker 4: 32:03

And back to that. Jack, do you love yourself as your own accountant?

Speaker 3: 32:07

Just out of curiosity. My accountant sucks, but.

Speaker 4: 32:11

I think as a buyer, I hate the idea of buying things on hourly rates.

Speaker 2: 32:14

I hate that.

Speaker 5: 32:19

Me too, because I have no idea what I'm going to be paying.

Speaker 2: 32:21

Lock it in, like giving advice and like saying this is my opinion, put it out there. Yeah, just do it yep, you know it's.

Speaker 1: 32:30

I use it as a coaching experience, but it's like but it is like a muscle, right.

Speaker 2: 32:34

It's like at the moment, if you don't do that, you don't even know you've got the muscle. And as soon as you start doing it, yeah, it feels a bit so oh gosh. And then all of a sudden, when you do it consistently, time and time and time again, it's a powerful muscle and you're like I'm so proud of this, like, look at me doing this.

Speaker 1: 32:47

We had that same experience internally. Amanda was talking with one of our Amanda is from my team, she was talking with one of them and then you know, like I'd have a conversation, how'd you feel it was? Okay, yeah, quick number there, here or there, whatever, tell me, if you did that same meeting again right now, would you do it better? Yeah, yeah, okay, if you did that same meeting 10 times over.

Speaker 3: 33:15

Would you be better at it?

Speaker 1: 33:16

yeah, yeah, I would great do that. Do that I have. I have 10 more years experience than you. I have done those meetings a thousand times more than you that's why I'm better at it than you because it's what I've been doing for 10 years. You will get better just as good, if not better, than me, as long as you keep trying. Keep putting yourself out there. If you are looking for love, keep putting yourself out there, you know.

Speaker 2: 33:36

Yes, amy, if you're looking for a good account.

Speaker 1: 33:37

If you're looking for a good client, keep, keep putting yourself up there. But we are going to wrap this up. I do have the final chapter of the love story.

Speaker 2: 33:44

Gosh, this is just the gift that just keeps on giving.

Speaker 4: 33:46

Are we getting divorced? Are we getting divorced, Jack? Oh my God, oh Lord no.

Speaker 1: 33:51

Love and we'll finish with this Love at first balance sheet, the final chapter.

Speaker 1: 33:56

Jack and Amy sat on their porch watching their grandchildren argue over a game of store where toy cash registers beeped, fake receipts piled up and the phrase that's not how depreciation works echoed across the yard. Jack leaned back in his chair, grinning. Remember when I thought P&L stood for pain and loss. Amy chuckled sipping her tea. And now you dream in spreadsheets my greatest achievement. Their eldest grandchild, mia, ran up clutching a notebook. Grandma, Grandpa, I need your help. Jack raised an eyebrow. A school problem? No, mia said. Seriously, Andrew isn't applying FIFO to the snack inventory and it's throwing off our margins.

Speaker 1: 34:42

Jack's heart swelled with pride. Ah, music to my ears. Amy pulled Mia onto her lap. Listen, sweetheart. Numbers tell stories. A great accountant helps people to turn those stories into success. Mia's eyes sparkled. So accounting is kind of magical, jack nodded, exactly, and also incredibly sexy. Amy rolled her eyes, jack, please. He smirked. What Numbers got me the love of my life? And as their grandchildren balanced their tiny books, jack and Amy knew their legacy was in great that's so beautiful.

Speaker 4: 35:26

Gabby the tissues.

Speaker 1: 35:29

Honestly, that bit when it was like what was the part?

Speaker 2: 35:32

So accounting's kind of magical, no the bit before Sweetheart.

Speaker 1: 35:35

numbers tell stories and a great accountant helps people to turn those stories into success.

Speaker 2: 35:40

That's it, that's it.

Speaker 1: 35:42

That's my tag Illuminate. We turn numbers into stories, into success.

Speaker 2: 35:47

Done I love it, my heart is swelling.

Speaker 4: 35:50

I love you all. Yes, I love you too, I love you.

Speaker 1: 35:53

Amy and Jack Thank you, the three of you, the four of us, for being amazing, loving, and thank you for the thousands, millions, I believe, potentially trillions, by now Trillions. You are not barred in the US from you listening to us. Anywhere around the world can do things, so I love you all. Thank you for the three of you. Hopefully you enjoy your Valentine's Day, wherever it might be. Amy it might be in Frankston at the deck, who knows, we'll find out. Jack, I think you're going to be interstate overseas South Africa.

Speaker 4: 36:25

Oh, so jealous Jack.

Speaker 1: 36:27

Yeah, and then Ali and I. Who knows what we'll be up to.

Speaker 2: 36:30

Who knows it's top secret?

Speaker 1: 36:31

Yeah, of course I believe there's actually a bunch of mates of mine that have gone. Oh, let's go to the golf driving range and everyone's gone. Hold on, that's the 14th of Feb.

Speaker 2: 36:38

Yeah, some boys. There might be some partners at the back end of that saying no, thank you.

Speaker 1: 36:42

But anyway, thank you, thank you everybody, yes, and here's to another season. We've got some interesting stuff coming. Al and I do, as do Jack, and I Love our listeners, so listen in everyone.

Speaker 3: 36:53

Keep on listening. Love our listeners, love you all, love our sponsors. So much love feeling the love.

Speaker 5: 36:59

See you later, everyone, bye, bye, bye wasn't that a fun adventure, my friends, thank you so much, so incredibly much, for hanging out with us today. Ellie, you've been amazing. Andrew, you've been alright. How good is it to be able to have adventures together it so is, and you know what.

Speaker 2: 37:23

Keep following us. We are all over the socials at Accounting Adventures. Check us out on the website. Give us a bit of a like. You know how much we love that stuff.

Speaker 5: 37:33

The best thing about the adventure is the people that we do it with. So thank you so much for listening. Thank you so much for hanging out with us and much for listening. Thank you so much for hanging out with us, and please bring all the ideas. Keep rick heman becoming. We can't wait to share more cool adventures with you. We love you guys.