My Worst Investment Ever Podcast
Business:Investing
BIO: Chris Kendall is the CEO of the Australian outsourced accounting group Aretex. Aretex helps businesses grow and scale with best-practice accounting, bookkeeping, and real-time access to accurate financial information.
STORY: Chris invested in the idea of a reality TV show piloted around finding baseball players. Chris believed in his friend’s vision and was so caught up in the emotional attachment that he didn’t do any due diligence on the idea.
LEARNING: If you’re going to fail, fail quickly, be honest about the failure, figure out what happened, and then move on to the next step. Don’t underestimate the funding needed to go big time.
“There’s a balance between raising enough money to reduce dilution and raising enough money to ensure you can get to the next hurdle.”Chris Kendall
Guest profile
Chris Kendall is the CEO of the Australian outsourced accounting group Aretex. Aretex helps businesses grow and scale with best-practice accounting, bookkeeping, and real-time access to accurate financial information.
He is also the host of The Anti-Failure Podcasts, which examine the lessons from failure in business and life that ultimately allow us to succeed.
Worst investment everChris’s worst investment is the one he didn’t make, which was not buying property in the ’90s before he left Australia. His advice to anybody out there is to find a way to get into the property market as early as possible, go through the struggle of pulling together all of the resources you’ve got access to, and put them in a property.
Chris shares one investment he made through passion and emotional attachment. The investment was a reality TV show piloted around finding baseball players. The TV show was created by a friend who envisioned creating a reality show intended to describe how professional athletes look through the ringers to determine where they end up playing a professional sport. The friend had some of the big names in baseball. He needed money to make the pilot, and his friends (including Chris) and family put some money in and gave it a shot. But he couldn’t get the traction to turn it into the TV show that everyone thought it was capable of.
Chris believed in his friend’s vision and was so caught up in the emotional attachment that he didn’t do any due diligence on the idea.
Lessons learnedChris’s number one goal for the next 12 months is to continue working with small business owners and helping clients get the best information they need to run their businesses.
Parting words“Have the courage to turn up and give your best.”Chris Kendall
[spp-transcript]
Connect with Chris Kendall
Arjun Murti – You’ve Got to Get Out of the Battle At Some Point
ISMS 25: Larry Swedroe – Admit Your Mistakes and Don’t Listen to Fake Experts
Steven Wilkinson – Your Success Is 100% Dependent on You
Shawn O'Malley – Geopolitics Can Take Your Investment to Zero
Peter Saddington – I Got Fired From My Own Company
Neville Medhora – Hot Stock Tips Are Generally Unreliable
Jack Farley – Don’t Play in Markets You Don’t Know
Carter Malloy – Valuation Is Not a Reason to Invest
ISMS 24: Larry Swedroe – Confusing Skill and Luck Can Stop You From Investing Wisely
Gisela Hausmann – Encourage and Appreciate Your Employees’ Creativity
Connor Steinbrook – Do Due Diligence Before Visiting a Real Estate Property
Zachary Resnick – Invest in People Not Just Ideas
Chris Mamula – Take Responsibility for Your Financial Situation
Michael Howell – Liquidity Is the Main Driver of Asset Markets
Brady Slack – What to Look For in a Coach or Mentor
Richard Lawrence – Avoid the Stock That’s the Hype of the Day
Vineer Bhansali – You Create Real Value by Being Different
Brenden Kumarasamy – Follow the Data, Not Your Emotions
Julian Klymochko – Arbitrage Trades Don’t Always Turn Out to Be Risk-free
David Hay – The Importance of Range Expansion
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast