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Over the last five years, London has become an epicenter for emerging startups and entrepreneurs. the number of digital businesses in London’s

Tech City has soared from a tiny 250 to now over 3,000 and counting. There are currently more than 350,000 Londoners employed in a digital business and sources claim that there are still thousands of positions waiting to be filled. And there are no signs of seeing this trend stopping any time soon. Yet, it’s not all college grads and millennials flocking to the digital startup scene though, as some might expect. Even veteran staff are making the move over from corporate positions to joining a startup team. As many banks in London have shrunk in the wake of the financial crisis, there are many former investment bankers and information technology specialists leaving their well­paid corporate jobs for the growing tech community; using their knowledge of complex financial markets and connections within the banking world to begin new companies.

Entrepreneurship has now become a badge of honour in Britain, with risk­taking being celebrated rather than feared. What has changed in Britain over the past five years to help spawn this trend? And why has London become the central appeal towards startups and the startup culture?

While there are plenty of reasons, one of the main reasons has to do with a slight shift in culture. Previously, job seekers aimed to find a secure job that paid well and had room for many promotions. Once employed with a company, one used to expect to stay with the company for at least ten or more years. This was a smart and well­respected move by many, and those who didn’t follow this path were often seen as irresponsible.

However, the rise of high profile tech startups have served as inspiration to a large generation of job seekers, making startups and tech a hot, fast­moving sector that many are dying to get into. Today, job seekers are now willing to forgo high salaries in order to have at learning something meaningful. The current workforce now looks beyond just a quick pay raise, and desires something that will be more beneficial later in life. Creating or working for a startup is now seen as a way to save the day, and potentially a way to create an intense adventure with a lucrative return. After seeing the quick rise of fame with tech startups like Facebook, AirBnb, and Uber – who wouldn’t want to, for at least a while, be a part of the same scene?

Additionally, conditions are also ripe for the rise of startups, both on the technological and political level in London. Startups are now being viewed as the innovative lifeblood powering Britain’s economic recovery. Seed enterprise investment schemes (SEIS), the British Business Bank, R&D tax breaks and government startup loans all add up to one big picture. On top of that, the UK is offering a plethora of ways to fill its current digital skills shortage, from free online programmes, to after­school coding clubs, to even improving computing A­levels as a way of fostering a future workforce of digitally savvy problem­solvers.

And lastly, London has become a thriving hub for startups and entrepreneurs because – it’s London. Every conceivable type of industry already exists in the city, along with an incredibly international and diverse population. Developing services and products, such as co­working facilities, are popping up across the city, making the possibility of creating or working for a lean startup even easier than before. Add to this an unstoppable mix of tech innovation and it’s no wonder London has become the perfect platform for a booming startup craze.

Over the years, I’ve used the phrase “resilience, determination, genius and commitment – to describe qualities needed to succeed as an entrepreneur. Although many well-known modern day entrepreneurs such as Richard Branson and our own Mark Shuttleworth has to a large extent not only done plenty to promote entrepreneurship but also to a large extent perhaps glorified it as a profession.

But entrepreneurship cannot be mistaken for a easy way out, get rich quick profession as it very seldom is. Any successful entrepreneur will tell you that it takes extreme commitment, passion, determination and often a bit of luck to get to the top.

 Every day we deal with business plans that fail and those who succeed. What’s the difference? In the long run you have to say resilience plays a large role.

 Resilience comes from believing in your idea working long days in the trenches and knowing more about that trench than anyone else. It’s the 10,000 hours principle that Malcolm Gladwell highlighted in his book Outliers – that to become an expert in anything you need to have spent at least 10,000 hours doing it. You may not always be the most talented guy on the block or be naturally gifted but commitment, hard work and resilience will get you there if you do the little things right. If you do your market research, invest in R&D, hire the right team treat your clients with respect and review and adjust on the regular basis.

 The value of sweat and toil is not a revelation, but some new studies have unveiled the neuroscience of resilience and its role in achieving goals. These psychologists have measured resilience and compared its role in success compared with intelligence and innate talent. Guess what? Resilience plays a huge role. “Nobody is talented enough to not have to work hard, and that’s what resilience allows you to do”, say the psychologists who led the study. I know this first hand.

 Personality traits, as I’ve mentioned with salespeople, can play a much larger role in personal achievement than mere intelligence alone. In fact, people who are told their whole life how smart they are may well be at a disadvantage. Better to praise your kids for working hard than being smart.

 Why do some people suffer real hardships and not falter? What exactly is that quality of resilience that carries people through life? In this article from the Harvard Business Review, Diane Coutu asks these questions and concludes that the answers apply to organizations as well as individuals.

 Coutu agrees with those who argue that resilience can be learned. So-called "resilience trainers" are in demand because, as one of them observes, "More than education, more than training, a person's resilience will determine who succeeds and who fails. That's true in the cancer ward, it's true in the Olympics, and it's true in the boardroom."

 After researching many theories, Coutu concludes that resilient individuals share three unique traits:

 • a resolute acceptance of reality;

• a sense that life is meaningful;

• an exceptional ability to improvise.

 The author argues that these traits exist in resilient organizations as well.

 For an entrepreneur, the first key to building resilience is asking, "Do I truly understand-and accept-the reality of my situation? Does my business?" entrepreneurs should resist the tendency to slip into denial as a coping mechanism. Facing the truth head on can be a matter of survival.

 As an entrepreneur you need to

1. face internal and external challenges and opportunities without sugarcoating them-and create strategies for dealing with or exploiting them;

2. utilize the meaning-making power of communicating and developing mission, vision, values as well as short-term goals with staff;

3. encourage the innovation and creativity of staff while creating an orderly process for dealing with normal operations.

 Starting and running a business will not be easy, I can guarantee you that. It will be tough, it will take plenty of energy, late nights, blood sweat and tears. But it will be fun, rewarding and I can promise you that once you have started you won’t want to do anything else.

Caban has created a new business model to assist entrepreneurs. Our belief is that entrepreneurs require more than just cash. They require a range of services and mentorship to lift the profile of the company to increase sales and obtain start up or developing capital for their company. More often than not, the entrepreneur does not have the necessary resources to afford the required services to achieve the above goals.

Entrepreneurs approach Caban needing capital. Typically, the entrepreneur would have an idea detailed in a document or have a business that is trading which needs capital for expansion purposes. To attract capital, it requires the services of the Caban Service Providers but cannot afford to engage their services. The entrepreneurship assistance programme is as follows:

The potential client goes through a due diligence process.
Once completed and successful, Caban offers the new client a £10,000.00 line of credit to use the Caban Service Providers.
For the risk, Caban acquires a percentage of the client for no consideration.
Caban then instructs the Caban Service Providers to supply services to the client on credit.
Caban has shares in all the Caban Service Providers.
Caban lends money to the Caban Service Providers, charging 10% interest, to be able to provide such credit.
Caban Enterprises, a subsidiary of Caban, assists in the selling of the clients’ products or services on a commission basis. By assisting in sales, Caban increases the ability for the client to make profits.
Once the client reaches a certain level of exposure and sales, Caban approaches its pool of Angel Investors to invest directly in the client.
The client pays the Caban Service Providers once it starts making a profit, cash flow permitting.

This model is unique in that entrepreneurs obtain services and mentorship from a pool of entrepreneurs of different disciplines, therefore increasing the ability of the entrepreneur to succeed. We are Cabanites - entrepreneurs helping other entrepreneurs.

Hit the Contact Us tab at the top to get in touch with us about this opportunity. 

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