I wouldn't describe my career as brilliant, but am proud to write that it was very fulfilling.

After spending 17½ years in the workforce I changed jobs and went to a public accounting practice in Benalla on 30th June 1967. This action went the way to fulfilling  the advice given to me  by a specialist several years earlier, when he advised me to “study accounting and work for yourself”.

My first twelve months were spent familiarising myself  with the accounting practice and particularly the requirements of the Australian Taxation Office. On 1st July 1968, in pursuit of this  objective, I commenced, by correspondence, the study of accountancy.

Subsequently  I graduated as an accountant, and in  February 1974, at the age of almost 42 years, I was admitted as an Associate of the Australian Society of Accountants . At this stage, as a qualified accountant, I deemed it appropriate  to approach my boss  to become a partner in the business. He considered my approach favourably and agreed to invite me to become a partner with 33 1/3rd  % interest I in the practice, but…….wait for it…….. on the condition that I become a chartered accountant.

At that time, many people in the accounting profession  considered, rightly or wrongly, that chartered accountants were a superior race.

Anxious to fulfil my destiny, I agreed, and after the most arduous year of study, I was granted admission to the  Institute of Chartered Accountants in July 1975.

I had therefore fulfilled the condition  placed on me, and purchased, on terms,  a 33 1/3rd % of the business. In 1979, having paid off the terms, I increased this share to 50%, again needing to borrow funds to do so.

Also in that year, I was honoured by being awarded Fellowship of the Chartered Institute.

Business progressed well, and within a short space of time  we opened a branch office in Yarrawonga.

Our number one client was the Co-Operative Housing Society Group, for which my partner and I were the joint secretaries/administrators.

Over the lifetime of the Group we managed 15 societies and financed in excess of 500 homes in the Benalla district. I was in charge of the administration.

Other clients were businesses, farmers and taxpayers. We also conducted a number of audits, including the Benalla Hospital and Cooinda Retirement Village.

The practice prospered.

We employed 7 or 8 staff with an efficient office manager. However, in 1985 he became over zealous and defrauded us of a significant amount of money, principally Housing Society funds.

Fortunately, our insurance company came to the party and repaid the default, but not until three years had passed. I took responsibility over the litigation and, with the burden of the time factor and this responsibility, I experienced a major break-down. This limited my contribution to the future operations of the practice.

After this trauma, business continued satisfactorily until 1993 when we were hit by a flood, with water going through our premises at desk height. This caused a significant financial loss and the office was closed for three weeks. Insurance did not cover a large portion of this loss, due to the debatable definition of “flood water”.

Subsequently we continued to  operate satisfactorily until 1995, when, thanks to  succession planning, we sold out to my partner’s eldest son.

I continued as a consultant until the year 2000 when I eventually retired.

I am very proud to have been part of a successful business in Benalla, but again would suggest that it wasn’t what one could call a brilliant career.

 
Ray O’Shannessy. 
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Originally submitted on 30/8/2017.and published on Ray's page then, this story has been submitted  by Ray, with very few tweaks, for the 'My Brilliant Career' topic in June 2024.

In 1966, after being in the workforce for 16 years, I decided on an employment change. I could see no chance for promotion in the company where I was, and believed there would be opportunities elsewhere. And so, I ventured into the life assurance field, as I had been encouraged to do.

My first mistake was to enlist with a fairly obscure life assurance company. But it was a subsidiary company of the employer with whom I had 16 years involvement, and so I had the opportunity to have numerous contacts.

My information was that one of the main attributes of being successful was to have plenty of contacts, and so I had covered this facet.  What hadn’t been explained to me was that there was a special technique in closing, or finalising sales. As a relatively quiet and unassuming type of person, I discovered that I did not possess this talent. That’s where the problem lay.

In the early stages of my employment, I was accompanied, in my search for customers, by a very outgoing and charming official of my employment company with whom I became quite friendly. He was able to procure sales which were credited to me, and we proceeded satisfactorily.

I did much research and self training, including  reading many sales motivational books. I followed up all the birth and death notices, but to no avail! I could not, on my own, clinch a sale. Potential customers were very polite, asking questions and agreeing with the benefits of life assurance. But I could not get them to sign on the dotted line.

In absolute frustration , after a period of 12 months, and although I had no other job to go to, I resigned.. My career had gone bung.

As I write/read this essay I hurt; I cringe at the memory of the anguish that I had endured, as I told my wife that I was a failure ;  ….I had no job!

As was my career in this field, this essay  is a flop; no chance of writing 500 words!
 


Ray O’Shannessy.
​September 2017

Originally submitted when the topic 'My Career Went Bung' was last offered in September 2017, Ray has chosen to resubmit it seven years later.