The Story of a Successful Entrepreneur James Caan - Case Study Example

Entrepreneur James Caan (Nazim Khan) James Caan, one of the Britain’s successful entrepreneurs has gained worldwide admiration by providing international business organizations with outstanding human capital and equity capital support. Besides his amazing business achievements recently he caught the attention of TV viewers across the world by his remarkable joining in BBC’s popular show Dragons’ Den. Today James Caan Dragons’ Den has become the role model for young business operators. Through his achievements he has taught the whole business world how to design appropriate strategies and business forecasts. Numerous companies have been benefited by his equity capital and other human resource assistance during recession. James Cann is good at both assessing the potentiality of individuals and companies and for leading them to great success by implementing his HR management theory and skill. The more wonderful thing about this business magnet is that he is the son of an immigrant cloth merchant of Pakistani origin. He dropped his education and left home at early age to unearth his own business way. Businesses and markets When he started his first venture a recruit agency ‘Alexander Mann’ in 1985 he was in his early twenties. His initial endeavor later grew up to the leading human resource outsourcing company with a turnover of more than 130 million. Meantime he had changed his real name Nazim Khan in to ‘James Caan’ getting fascinated by the Hollywood celebrity. Mr.Caan’s another prominent achievement was an executive headhunting firm known as Humana International which grew to over 147 offices across 30 countries.(BBC). Later in 2002, when he sold his outsourcing company Alexander Mann it had a turnover of 130m pound. Humana International was confounded in 1992 with an American recruitment expert Doug Bugie. Three years later he started another recruitment process outsourcing company AMS with the partnership of a Dublin- born woman Rosaleen Blair. Human international also was sold in 1999. It was in 2004 his latest and most innovative task Hamilton Bradshaw was initiated. . (Banh A.) Hamilton Bradshaw doesn’t have any particular set of focus. It has specific expertise in various service areas such as financial services, property services, industrial technology, business services and outsourcing, media and technology, healthcare, IT software and Natural resources and renewable energy (Focus, HB website). HB has a wide range of service offer for its customers and it staunchly believes in professionalism and quality. The HB team primarily invests its own capital and work closely with the invested companies to achieve the proposed outcomes. Hamilton Bradshaw has an investment fund (HBHC) which is used in the staffing sector. Company deploys its highly experienced experts in various sectors, analyzes business, and helps designing time to time strategies. Eden Brown was the first acquisition by HBHC. The size of investment the company seeks is 0.5 million to 10 million on venture capital, development capital and straight acquisition. Where funding of greater than 5million is required HB will seek to bring in one or more of a net work of investors with whom we have strong working relationships. (Investment strategy, HB website) Motivation The significant factor behind Mr. Caan’s success is nothing but his positive attitude and perseverance. “People think Im a great decision-maker. I dont think I am. With any topic, ask enough questions and the answers will fall out - and thats the technique Ive used.”(James Caan). The young Nazim Khan was not enthusiastic to continue with his fathers’ business. He knew that he had the caliber to do something beyond that. This attitude can be illustrated by the motivational theory of Herzberg. According Motivation- Hygiene Theory (Two Factor Theory) a job should have enough challenges to make use of the full ability of the individual. In other words high potential candidates must be given more challenging tasks if necessary by replacing the employee with one who has a lower level of skill. (Herzberg 1959). Commenting on his signing to the den James said “In business I make a point of investing in people, as I am a great believer that it is people who create a success in business through their passion and conviction.” (BBC) Business method James Cann has been focusing on investment pattern of business method in all his projects. Unlike many other investors, besides the initial investment he offered his active involvement in running business keeping a strong managerial hold on the invested companies. He has gathered potential candidates from every part of the world for his outsourcing business. Hamilton Bradshaw requires comparatively less working capital because human capital is its major investment, market and asset. Mr.Caan has been dominating the outsourcing industry for the past two decades by providing high quality staff and services to all sectors across the world regardless of what the business is. Strong financial strategies, high professionalism and forecasting accuracy are other significant features of his company. HB always maintains sufficient liquid assets to deal with financial emergencies. HB has invested its human capital and money in numerous companies across the world. Star TV, atmt, Breeze City, Lehman Ambros, Blinds Inabox, Freshegg, Popcorn, Look4 a property.com etc. are some of the undertaking of MR. Caan and his team. {Investment, HB website). Customers and their comments . Ian Wolter, Chief Executive of Eden Brown states, “Since the investment from James Caan and his team we have seen an invigorated culture which has renewed belief in Eden Brown being the best.” The company announced record six months results of 2.1 million pound an increase of 207% in 2006.(News, HB). Another undertaking, Damia Group got appreciation from the Blue-Chip Financial Company programme Manager; “we are very satisfied with Damia’s efficiency, quality of consultants, flexibility and friendly approach. They have managed the recruitment process professionally.” (News, Damia.). Mr.Caan has also established The James Caan Foundation, an organization dedicated to improving the prospects of children. He built a school in Lahore for the children whose families can not afford to educate them. He is engaged in some other charitable trusts including the NSPCC in the UK (Regtransfers.co.uk) Role and reward The victorious achievement in business has made him the icon of modern entrepreneurs. It was his leadership quality and positive attitude that led him to be the lead investor in the investee companies. Moreover he always undertook challenging business experiments which helped him proceed with the innovative recruit industry. He is really an entrepreneur of the era. He has a very clear conviction about the changing economic scenario. He does not simply invest money and wait for result. Along with the investments he gives strong financial, managerial backup to investee companies and leads them to great success. He does not believe in cutthroat competition; instead maintains a win –win policy toward his competitors. As he believes, people is his market and therefore he ‘invests in people with passion’. He became a multimillionaire, gained fame and admiration through his efforts; yet obviously the intrinsic reward he acquired as an entrepreneur must be greater than any other rewards. To conclude, Mr. Caan’s successful business history and the feedback from his delighted customers point toward his bright business future .The significant factor is that he holds the lion’s part of intelligent human resource which is highly required in today’s business world. Hamilton Bradshaw has become a taskforce which can assist international companies at special situations by supporting expansion, development, and recapitalization. Changing global economy will certainly demand his help in future. Bibliography Cave A., James Caan: a Life in Business. Telegraph.co.UK, updated 8 Feb. 2009, viewed 24 May 2009 Exclusive Interviews with top Entreprenures, cmypitch .com Entreprenure TV, viewed 24 May 2009 Hamilton Bradshaw, Private equity Investors, official website. Viewed 23 May 2009 Herzberg’s Motivation Hygiene Theory (Two Factor Theory) 2007. NetMBA: Business Knowledge viewed23 May 2009. James Caan, 2008. The Real Deal: My Story from Brick Lane to Dragons’ Den. Virgin Books Limited. James Caan, official website, viewed 24 May 2009 News, Damia Group Official website. Viewed 24 May 2009 New Dragon to Join the Den, Factual & Arts TV; BBC Two, 15 June 2007, viewed 23 May 2009 Regtransfers.co.uk, James Caan, viewed 23 May 2009 Read More