Page 235 - James Caan - The Real Deal

22 · Serial Entrepreneur

average commission of £200 a day. Mike was ecstatic. I was over
the moon.
What was even better was the valuation of Humana Consulting.
Unlike Alexander Mann, where you couldn’t be sure how much
money you would make from one month to the next because you
couldn’t accurately predict how many candidates you would place,
with Humana Consulting you knew, fairly accurately, how many
people you had out on assignments. That predictable level of
income meant it was very attractive to potential investors, and the
stock market was valuing companies with similar structures very
strongly. If Alexander Mann was worth ten times earnings,
Humana Consulting was worth eighteen times earnings. I wasn’t
planning on selling just yet, but it was nice to know we would have
no trouble attracting interest if Mike and I changed our strategies.

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