YourBusinessWithJamesCaan2016 - 22

M

ultimillionaire James Caan has
run dozens of businesses
including Alexander Mann, the first
business he built from scratch and
sold at its peak with a turnover of
£130 million. He went on to set up
Humana International, a
headhunting company that grew to
become 147 offices in 30 countries
and sold his stake in that before
setting up private equity company
Hamilton Bradshaw 12 years ago,
which doubled in size year on year
from 2012-2014 and is still on the up.
What he doesn't know about
business and building them from the
ground up isn't worth knowing.
Here are his answers to key
entrepreneur questions.

WILL MY IDEA REALLY
MAKE A BUSINESS?

Your first idea does not have to be
your best, it is only your first.
Concentrate on finding the right one.
Don't worry if it's not workable. Move
on. Learn from the experience and
concentrate on finding the right idea.
The question to ask is not what is
unique about your idea but what is
compelling about it?
If you have an idea, you need to
get feedback, and not just from
family and friends. Part of the skill
in being an entrepreneur is a
willingness to seek out feedback,
which can be negative, critical and
disheartening - although you'll need
to recognise which is the most
honest and useful.

It's time to
bite the bullet
So you've decided to start your own business but if
you are having doubts, look no further than James
Caan's canny tips
22

There is no reason why, whether
you are selling a product or a
service, you shouldn't go out
straight away and get an order
right from the off. What is the one
thing that you need to do to attract
investment? It's getting that first
order! However exciting the
feeling of landing your first order
is, if you can't deliver it and make
a profit, it's a false dawn. But don't
cheat the costs just to keep the
deal and your dream alive.

PHOTOGRAPHY: WILL IRELAND, SHUTTERSTOCK

SHOULD I GO OUT AND
GET AN ORDER?



YourBusinessWithJamesCaan2016

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