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Writing an Innovator Founder visa business plan can be challenging. That’s one of the reasons why many international founders opt to work with me on their Innovator Founder visa business plan. 

If you plan to apply for the Innovator Founder visa, you must prepare a business plan. I have previously written an article about how to create an Innovator Founder visa business plan.

In this article, I want to share some tips on writing an Innovator Founder visa business plan. Specifically, I will be highlighting things that you should NOT do when you are planning your venture. 

Remember: the perfect business plan does not boil down to being well-written or well-designed (although these are also essential). Writing the ideal Innovator Founder visa business plan requires a well-thought, viable and clear business proposition. 

These tips will help you in formulating both your business plan, as well as some of the fundamental aspects of your business planning. 

Overpromise 

This is one of the biggest mistakes made by founders. Sadly, international entrepreneurs are not exempt either. 

And it’s easy to understand why: you want to present the “ideal” image for your concept, whether it’s to the Innovator Founder Endorsing Bodies, the Home Office or even investors.

However, this is a dangerous mistake, especially if you are held accountable for making progress against your initial Innovator Founder visa business plan. 

Underestimate your competition & market dynamics

In line with the last point, some founders also underestimate their market and competition. 

This may be done either intentionally, to present an inaccurate/idealistic image of the market, or unintentionally as a result of personal neglect. 

Overestimate your offer

This is an advice that you may not get from many consultants. 

Remember: simplicity is key. Keep everything as simple and straightforward as possible. Don’t write pages and pages about why your product is ideal and what it does. Instead, dedicate your content to presenting evidence of your venture and the market’s viability. 

Neglect the financials 

Cash flow and financial management are integral to every business. You must plan for and state all instances of incoming and outgoing cash flow. 

Have a plan B for every scenario and determine the financial implications of all scenarios. 

Need help with writing your Innovator Founder visa business plan? Read about my full services here to find out more. 

About | My name is Sohrab Vazir. I’m a UK-based entrepreneur and business consultant. At the age of 22, and while I was an international student (graduate), I started my own Property Technology (PropTech) business, StudyFlats. I did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme. Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator Founder Visa). I grew my business to over 30 UK cities, and a team of four, and also obtained my Indefinite Leave to Remain (Settlement) in the UK. I now help other migrant entrepreneurs, such as myself, with their businesses.