“I Lost Money – It Was Beautiful” – Brad Channer on Why You Should Fail at a Startup at Least Twice
Run the Numbers
Unusual Expense Claims in Business
This chapter explores the humorous and absurd side of expense claims in the business world, featuring bizarre stories like a founder's attempt to expense cocaine and a hidden boat asset. It highlights the laughter that can come from the often serious realm of financial management and entrepreneurship.
In this episode, CJ Gustafson sits down with Brad Channer, the CFO of UBIO and possibly the world's most interesting CFO and accountant. He describes his unconventional career path from acting to accounting and the he lessons learned from some entrepreneurial failures along the way. Brad also discusses communication and leadership, including how his acting background shaped his style in the boardroom. He breaks down the biggest mistakes CFOs make when explaining financials and why some accountants struggle to reach the C-suite even if they’re brilliant on paper. He shares insights on neurodiversity in the workplace and how to unlock its advantages before unpacking why the UK has produced fewer tech giants than the US and the one regulatory shift that could potentially supercharge the industry.
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SPONSORS:
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TIMESTAMPS:
(00:00) Preview and Intro
(02:32) Sponsor - NetSuite | Planful | Subscript
(05:39) From Actor to Management Accountant
(10:25) Brad’s Bold Move to the UK
(13:02) His Journey into Entrepreneurship and Accounting
(16:07) Sponsor - Rippling Spend | Vanta | Tropic
(20:08) Reclaiming the F Word: Failure
(23:37) Communicating Like a Human
(25:42) Acting Lessons for Accountants
(29:49) How to Understand Your Audience
(35:36) Navigating Neurodiversity in Business
(36:35) How to Adapt Your Communication for Founders
(38:30) Why Some Accountants Don’t Make it to the C-Suite
(40:38) Learning to Ask Questions
(43:29) Leadership in Large Companies Versus SMEs or Scale-Ups
(45:24) The UK Versus US Tech Scene
(47:10) Tall Poppy Syndrome in the UK
(51:38) Long-ass lightning round: Do Your Research
(55:14) Advice to Younger Self
(56:15) Finance Software Stack
(56:58) Craziest Expense Story
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