Page 211 - James Caan - The Real Deal

20 · Investing in People

come to London, and give up a lucrative corporate career in the
process. But obviously something I’d said had interested him, and
Doug came over. We spent a week together looking at Alexander
Mann and seeing if I had a model that could be franchised. The
more we looked at it, the more Doug saw the opportunity, and by
the end of the week it was clear he was getting excited about it.
‘I know you said I shouldn’t pitch the idea of us doing this
together, but just imagine if everything you’re telling me is right,
Doug, imagine what we’d have. If I buy a master licence, MRI
owns the brand. I want to own the business, Doug, I want to
own the brand. And I think you’re the best person in the world to
run it.’
‘What would be in it for me?’
‘I’ll give you 50 per cent equity: I’ll take all the risk, put up all
the money and if it works we own it together. If it fails, I’ll take
the hit.’
I didn’t realise it at the time but running for Congress had wiped
him out financially. Starting over in a new country began to appeal
to him and we shook on the deal. I couldn’t quite believe that Mr
America was going to swap his massively well-paid job and his
sleek corporate HQ to come and work above a hi-fi shop: I knew
then that he really believed he could do it.
Doug went back to the States to get his affairs in order while I
sorted out his flights, accommodation, his visa, a car – whatever
he needed. I decorated the second floor of our office which had
been empty for a while, bought expensive furniture for it and
created a boardroom: I wanted Doug to have the kind of office he
was used to. It was a bit of an outlay, but the bulk of my
investment in our new venture would be meeting Doug’s expenses
until we could make it pay.
I actually didn’t really mind what it cost, because to me securing
Doug was such a massive coup. To any outsider, it looked like I
was trying to play several leagues above my ranking, and it was

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