Your Business With James Caan 2017 - 41
goalkeeper you will struggle. Success
comes because you have all the
components in the right places.
I'm not particularly financially
literate, so I had someone working
with me who was. I'm not particularly
a marketeer either, so I had someone
to do that too. My success wasn't down
to me having all the characteristics
myself - I recognised my shortcomings
and weaknesses and made sure I
identified people around me whose
skills were complementary to mine.
What advice would you give to
someone pitching for investment?
Establish that there's a need for
your product or service, and that it
can be produced and delivered at a
price that's competitive. You need
to demonstrate you have the
knowledge, the confidence and the
ability to execute the plan. If you
showed me all those things and
that you've put together a team of
people who can execute your plan,
you're halfway there.
People struggle when the need isn't
qualified - when there isn't enough
evidence to support your assumptions,
or you can't convince me you can
deliver the product or service at a
competitive price. From an execution
point of view, you haven't convinced
me you have the right team, the right
plan and the right leadership.
Whether it's venture capital or Start
Up Loans, there are a lot of sources of
investment in the UK. People with
good ideas who can demonstrate
capability can always get funding. If
you hear people say there's no money
out there, the truth is that they haven't
got a concrete plan.
You went into the world of work
without getting a university
degree first. Considering the
rising cost of higher education,
do you think starting your own
business without formal
qualifications is a better option
for people now?
The journey and the value of education
last a lifetime. A good education
will give you a solid foundation and
having that is invaluable. It isn't just
about the theory, it's the social skills