Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Category Archives: Business Planning
A Guide to the UK Innovator Founder Visa
The Innovator Founder Visa UK program is a significant opportunity for international entrepreneurs seeking to start or scale a business in the United Kingdom. Designed to attract highly skilled innovators, this visa replaces the earlier Innovator Visa and Start-Up Visa. In this guide, I’ll break down the essentials of the Innovator Founder Visa UK, including eligibility criteria, benefits, and application steps. None of the content in this article constitutes immigration advice in any shape or form and serves as general information What is the UK Innovator Founder Visa? The Innovator Founder Visa is tailored for entrepreneurs with innovative, viable, and scalable business ideas. Unlike the predecessor program, it does not require applicants to have a minimum investment amount, provided their business concept meets the program’s criteria. This change has made the visa more accessible to a wider range of entrepreneurs with fresh ideas and limited capital. Key Benefits of the Innovator Founder Visa Eligibility Criteria for the Innovator Founder Visa UK To qualify for the visa, you must meet the following requirements: 1. Innovative Business Idea 2. Endorsement 3. Proficiency in English 4. Financial Maintenance Application Process for the UK Innovator Founder Visa Step 1: Develop Your Business Plan Craft a comprehensive business plan that demonstrates how your idea is innovative, viable, and scalable. Highlight market research, financial projections, and the problem your business solves. If you require help with your business, see this page for the range of assistance that I provide. Step 2: Secure Endorsement Contact an endorsing body to review your business plan. If approved, they will provide an endorsement letter required for your visa application. Step 3: Prepare Your Application Gather necessary documents, including: Step 4: Submit the Application Apply online through the UK government’s visa portal. The processing time typically ranges from 3 to 8 weeks. Step 5: Move to the UK Once approved, you can relocate to the UK and begin working on your business. Challenges and Tips for Success Tip: Seek Expert Advice Navigating the Innovator Founder Visa process can be complex. Engaging a business consultant or immigration specialist can significantly increase your chances of success. Frequently Asked Questions 1. Can I extend my Innovator Founder Visa?Yes, the visa can be extended for additional three-year periods, provided you continue to meet the criteria. 2. Is this visa suitable for startups?Absolutely. The visa is ideal for startups and early-stage businesses with high growth potential. 3. Can I switch to this visa from within the UK?Yes, switching is possible if you are already on a qualifying visa. Conclusion The Innovator Founder Visa UK is a golden opportunity for global entrepreneurs looking to establish innovative businesses in the United Kingdom. With its focus on innovation and flexibility, it opens doors to a thriving startup ecosystem and long-term residency. Whether you’re a seasoned entrepreneur or a visionary with a groundbreaking idea, this visa can be your gateway to success in the UK. If you’re considering applying, start by refining your business idea and reaching out to endorsing bodies for support. With the right approach, the UK could be the perfect destination to turn your entrepreneurial dreams into reality. Need Help? I offer a range of business consultancy and assistance services to international entrepreneurs. Additionally I can refer you to a regulated immigration advisor for your immigration queries. 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. 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.
What to Consider Before Applying for a Startup Visa
The startup visa is an attractive opportunity for international entrepreneurs who wish to launch or grow their business in a foreign country. Many nations offer these programs, granting entrepreneurs access to vibrant markets, resources, and networks. However, pursuing a startup visa isn’t as straightforward as it may seem. Before embarking on this path, entrepreneurs should carefully weigh several key considerations. Below are important factors to help you decide if a startup visa aligns with your business goals and circumstances. 1. Eligibility Requirements Different countries have varying eligibility criteria for their startup visa programs. Some may require a detailed business plan, proof of investment, or endorsements from designated organizations. Others look at your professional background, language proficiency, and business viability. 2. Visa Duration and Path to Permanent Residency Another critical consideration is the length of the visa and whether it offers a pathway to permanent residency. Some startup visa programs grant only short-term stays, while others provide an opportunity to transition to a longer-term visa or permanent residence if your business meets performance criteria. 3. Market Conditions Entering a foreign market is exciting but challenging. It’s crucial to evaluate if your target market is favorable to your business model and industry. 4. Support Systems and Infrastructure A well-supported startup visa program often includes access to business incubators, accelerators, and mentorship networks that can help startups succeed. Assess the resources available to help your business flourish. 5. Cost of Living and Business Operations Before committing to a startup visa, understand the cost of living and business operations. These factors can greatly influence your budget and ability to scale. 6. Tax Implications A new business location often comes with a different tax system. It’s crucial to understand how a move will impact your personal and business taxes. 7. Exit Strategy Planning an exit strategy before applying for a startup visa is essential, particularly if your business or visa conditions don’t go as planned. Consider what happens if your business doesn’t perform well or if you decide to exit the market. Final Thoughts Applying for a startup visa can be a transformative opportunity to access new markets, gain fresh perspectives, and grow your business in a vibrant environment. However, understanding the full scope of the process, costs, and obligations is essential. By carefully evaluating each factor and conducting thorough research, you’ll be better prepared to determine if a startup visa is the right choice for your entrepreneurial journey. Remember, success depends on more than just obtaining a visa—it’s about positioning your business for sustainable growth and adaptability in a foreign market. 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. 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.
What Do I Need to Start a Business? A Comprehensive Guide
Starting a business is an exciting journey, but it can also feel overwhelming if you don’t know where to begin. From brainstorming ideas to understanding legal requirements, there are several steps to take before you can launch your business successfully. If you’ve been asking, “What do I need to start a business?”, this guide is here to provide clear and actionable answers. Let’s break down everything you need to know to turn your entrepreneurial dreams into reality. Need help with starting a business? I started my first tech business at the age of 22 and scaled it to 30+ UK cities. My advisory program below is designed for aspiring business owners. 1. A Clear Business Idea Every successful business begins with an idea. Your idea should address a problem or fulfill a need in the market. To refine your business idea: Tip: Use tools like Google Trends and surveys to assess market interest. 2. A Business Plan A business plan is your roadmap to success. It outlines your goals, strategies, and how you’ll achieve them. Key components of a business plan include: A solid business plan is essential, especially if you’re seeking funding or partnerships. 3. Legal Structure and Registration To operate legally, you’ll need to choose a legal structure for your business. Common structures include: Once you’ve chosen a structure, register your business with the appropriate government authority. In the UK, for example, you would register with Companies House. 4. Funding and Financial Management One of the most common barriers to starting a business is financing. Here’s what you’ll need: Pro Tip: Research grants and incentives available for startups in your region. 5. Licenses, Permits, and Insurance Depending on your industry and location, you may need specific licenses or permits to operate legally. Examples include: Additionally, invest in insurance to protect your business. Common types include: 6. A Strong Online Presence In today’s digital age, having an online presence is crucial for any business. Start by: 7. Marketing and Branding Your marketing strategy and branding efforts will determine how well you connect with your audience. Focus on: 8. A Support Network Starting a business can be challenging, so surround yourself with a strong support system. This includes: 9. The Right Mindset Finally, starting a business requires determination, resilience, and adaptability. Be prepared for challenges and stay committed to your vision. Celebrate small wins along the way to keep yourself motivated. Conclusion: what do I need to start a business? So, to answer what do I need to start a business? In summary: a strong idea, a solid plan, legal compliance, financial resources, a strong online presence, and a supportive network. By following the steps outlined in this guide, you can position yourself for success and navigate the entrepreneurial journey with confidence. Starting a business may seem daunting, but with the right preparation and mindset, it can also be one of the most rewarding experiences of your life. Are you ready to take the leap? Let us know in the comments about your entrepreneurial journey! Don’t do it alone, get my expertise on your business journey I provide a tailored, fixed-cost and simple advisory program for aspiring business owners. Use my 8+ years of entrepreneurship experience and learn life-long skills while you build your venture. 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 graduate, I started my own Property Technology (PropTech) business. Now I help aspiring business owners and job seekers fulfil their potential.
How to Move to the UAE as an Entrepreneur: A Step-by-Step Guide
Why start a business in the UAE? Starting a business in the UAE as an entrepreneur is an exciting opportunity, offering access to a thriving business environment, world-class infrastructure, and strategic location. This guide will walk you through everything you need to know about relocating to the UAE and starting your entrepreneurial journey. The UAE is one of the top destinations for entrepreneurs to start a business due to: Step 1: Determine the Right Visa Type For entrepreneurs, the most popular visa options are: 1. UAE Golden Visa for Entrepreneurs: The Golden Visa offers a 5-year residency for entrepreneurs who meet specific criteria, such as: Advantages: Learn more: UAE Government Golden Visa Information 2. Investor Visa: For those who invest in a UAE business, this visa allows a 3-year stay and can be renewed. Requirements: Step 2: Choose the Right Business Structure The UAE offers different types of business setups: Popular Free Zones for Entrepreneurs: Visit the official DMCC website for more information: DMCC Free Zone Step 3: Register Your Business To officially start your business, follow these steps: You can use services like the Dubai Department of Economic Development (DED) portal for licensing. More info at: DED Business Licensing Step 4: Open a Corporate Bank Account Having a UAE-based corporate bank account is crucial for your business operations. Requirements may vary by bank, but typically you need: Top Banks for Entrepreneurs: Step 5: Find a Suitable Place to Live and Work The UAE offers plenty of options for accommodation and office space. Consider the following: Tip: Use websites like Bayut or Property Finder to explore housing options. Step 6: Understand the Legal and Regulatory Requirements Ensure compliance with UAE laws: Step 7: Network and Connect with the Business Community Networking is vital for business success in the UAE. Join events, seminars, and organizations such as: Frequently Asked Questions Q: How much does it cost to start a business in the UAE? Q: Can I sponsor my family with an entrepreneur visa? Final Thoughts Starting a business in the UAE as an entrepreneur can be a game-changer for your business. With the right visa, business setup, and understanding of the local market, you can tap into a thriving ecosystem and enjoy long-term success. Start your journey today and take advantage of the UAE’s vibrant entrepreneurial landscape! For more information, consult the UAE Government’s Official Portal and always seek professional guidance when needed. By following these steps, you can smoothly transition into the UAE as an entrepreneur and leverage the country’s favourable business environment for your success! Explore my services to start a business in the UAE. I help foreign entrepreneurs with their business relocation, building on my own experience. 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.
Business Ideas: Do you have to solve a problem?
Business ideas have become synonymous with solving a problem. However, do you always have to solve a problem when coming up with a business idea? I will highlight the supporting and opposing arguments concerning a problem-solution-based approach to business ideas. Business ideas, and finding the right one, are not easy tasks in this day and age. There is stiff competition and there is a chance that any good idea that you come up with has already been implemented. This has led to many professionals, consultants and even academics advocating for a problem/solution approach to validating business ideas. Business ideas should solve a problem? Okay, let’s look at the solution-based approach to business ideas. I do support this principle and my ventures so far have implemented it. The benefits of a solution-based approach is that: The issue with this approach is that: However, not all successful ventures are based on solving a problem. Consider the following business models/companies: -Coca Cola -Dating apps such as Tinder -OnlyFans None of these companies solve a problem per se. Yet, they are billion-dollar ventures. With dating apps, one may argue that they solve the problem of loneliness. However, one does not necessarily need a dating app to meet their partner. The reason why these companies are successful is one factor: demand. And demand is not always necessarily based on solving a problem but rather on people’s willingness to pay for what you offer. To summarise: solving problems is a useful approach to coming up with business ideas. However, the aforementioned should not be the exclusive principle and founders must prioritise demand as the core factor. Struggling to come up with a business idea? As a business consultant and former tech founder, this is my specialty. Contact me to see whether I can help you with finding the right business idea or check out my advisory program specifically designed for new/prospective business owners. 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. Now I help aspiring business owners and job seekers fulfil their potential.
Patents: 4 Basic Facts
Patents are complex, and obtaining them is only part of the hurdle. As a business consultant working with innovative founders, I get a lot of questions about patents. While I am not a patent attorney, I will share 4 basic facts about patents that will give you an idea about protecting your intellectual property through this route. Obtaining patents is certainly a complex path. You must consult a patent attorney if you wish to do so. However, to get started, I will share 4 basic facts about patents that will give you an idea of what to expect. 1. Patents are expensive First of all, patents cost a lot. As an example, let’s look at the UK: Summary of Costs As you notice, the key costs are associated with patent attornies, which you must consult if you decide to file and register a patent. For more information on UK patent costs, check here. 2. Patents take time It takes time to register a patent. On average, you are looking at 1 to 2 years (although this may vary). However, the key principle is that, unlike trade marks, patents are more complex and time-consuming. 3. They are jurisdictional Similar to trade marks, patents usually cover a certain jurisdiction, for instance, the UK. If you wish to obtain multi-jurisdictional protection, there are higher fees. 4. Obtaining a patent is not the end Lastly, it should be noted that obtaining a patent is not the end of the line. Your competitors, often firms with more resources, will most likely seek to find a way around your patent or worse, get into a legal patent battle with you. And what must be noted is that these legal battles will cost you, a lot. If you are seeking to register a patent, it is important to consult a patent attorney. Working with me as your business consultant includes introducing you to one to ensure you obtain solid advice before making any decisions and investing your resources. 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. Now I help aspiring business owners and job seekers fulfil their potential.
How to start a business with no money
If you wish to start a business with no money, you have a difficult journey ahead. However, it is certainly not impossible. I will give you some realistic tips and steps that can help you start a business with little or no money. I personally comprehend the difficulty of starting a business with no money. Back in 2016, I was a 22-year-old graduate and embarked on the path of business ownership whilst I had less than £500 to my name. To make things worse, I was on a business visa in the UK and had to meet certain milestones, making it even harder. Read more about my story here. However, I eventually grew the business to over 30 UK cities and a team of four. Yes, I did have additional capital available to me, but the business’ foundation and traction was achieved with less than £500. Here are some options that may be worth considering if you want to start a business with no money. 1. Business grants Depending on where you are and your proposed business, there may be business grants available to you. Some grants provide a lump-sum payment, and some others cover a portion of your business expenses. 2. Credit cards & loans In the UK, you can search for grants via the UK government website here. This is a tricky one. I am personally against racking up debt, and certainly in the case where that debt is spent towards a non-certain outcome. However, starting a business is about taking risks. Therefore, this is an option worth considering. 3. Barter This is an option that is less often referred to. However, it is worth considering if you possess in-demand skills. Barter is essentially exchanging a good/service in exchange for the same. For instance, you may have solid writing skills. You meet a developer who needs a copywriter for a project. At the same time, you require an app. By exchanging skills, you can achieve certain outcomes towards starting a business with no money. These options are worth considering if you wish to start a business with no money. Although they may not be applicable to everybody, it’s important to not allow the lack of capital to deter you from pursuing your vision. 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. Now I help aspiring business owners with starting and scaling the ventures.
3 tools to help you make more sales
If you’re on the lookout for digital tools to make more sales, this short list is for you. As an entrepreneur for over 8 years, I learnt an important lesson: if you can’t sell, you won’t succeed regardless of what you aim to do. Now, I am not going to go through the soft and personal skills that you need to make more sales (perhaps for another article). However, I want to point out 3 tools that can considerably help you in getting exposure, prospecting and converting your sales leads. Tidio Tidio has got to be one of my favourite tools of all time. Its primary product is AI-assisted chatbots. These chatbots and lead converters are highly customizable, allowing you to tailor your communications with prospective leads. Moreover, the Tidio platform in itself is quite user-friendly, and easy to use whilst also offering more service extensions such as email marketing. Hunter.io Do you know what’s the worst approach to sales? The cold approach. Generic emails with the opening of “Hello there” or “Greetings” will never work. Instead, it’s important to target and create a profile of your ideal customer accurately. But, how do you get to contact them? This is where Hunter.io comes in. Quora Did I just refer to a community platform as a sales tool? Yes Was it by mistake? No. I love Quora. I have used it for over a decade and it has never disappointed me (apart from the tabs opening in new windows all the time!). However, you may be asking why Quora can be used as a sales tool. Here’s the answer: psychology. Quora, along with Reddit, is one of the best platforms for understanding people’s problems, needs and desires, the key ingredients of a successful sales strategy. Use Quora to understand: Your target market, Their pain What bothers them What motivates them Subsequently, centre your sales pitch around the above. These 3 tools will help you boost your sales through better planning and engagement with your leads. 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 grew my business to over 30 UK cities, and a team of four prior to 2020. Currently, I help other entrepreneurs start their businesses.
Are online courses useful for people starting their own business?
If you are thinking of starting your own business, then you may have considered completing online courses. In recent years, there has been an unprecedented surge in the provision of online courses, especially around starting your own business. However, are they useful? Or simply useless? The answer to the above is: it depends. Online courses can be useful for people who want to start their own business. However, you must use them in the right way and with the right intention. Let me answer this question differently. Generally, with business, you are preoccupied with three key questions: The question is whether an online course would be appropriate for and beneficial in answering those three questions. Online courses are useless for the “Why” There are a myriad of courses on “business mindset”, “growth hacks”, “growth mindset”, “billionaire mindset” and so on. These promise to give you the right mindset to make your billions (and yes, it is most definitely utter BS). I believe that any entrepreneur should start a business out of their instinct. They should not need any person or entity telling them why they should start a business or get into the right mindset of setting one. Entrepreneurship is a journey of evolution Understanding the context of this article demands an understanding of the philosophy of entrepreneurship. Entrepreneurship is inherently defined by risk and uncertainty. It is unconventional. There is a reason why the majority do not pursue this path, despite not necessarily loving their daily jobs. It is about understanding and accepting that you are taking a massive risk. You can do everything right, and it can still fail. Therefore, beginning this journey under a guided course is the wrong way to approach this path. Online courses are good for the “What” and the “How” Now that we have clarified where online courses for starting a business are not helpful, let’s consider the other side. I elaborated on a few points concerning entrepreneurship. Here are an additional 2 that are relevant: skills and knowledge. Implementing, managing and executing a business venture demands certain skills, and it may be specific to each founder and business. This is where online courses “may” be helpful for people starting their businesses. So long as you identify the following: Let’s look at an example below (me): Sohrab wants to start an online consultancy business. His main way of getting clients is online through his website and Google search. Therefore, Sohrab needs to understand Google Analytics to analyse his website’s performance. In this case, an online course on Google Analytics could be helpful for Sohrab. Starting your own business can be daunting. Need help? 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 grew my business to over 30 UK cities, and a team of four prior to 2020. Currently, I help other entrepreneurs start their businesses.
Choosing a business bank account: what to consider?
One of the questions that most business owners will ask themselves is how to choose a business bank account. Choosing a bank account should always be thought through, especially for business purposes. There are plenty of business bank account options available these days. And like scarcity, abundance can also make things complicated. This is particularly the case with the emergence of digital “challenger” banks such as Starling & Monzo. As a business owner for almost a decade, I have learnt a thing or two about business bank accounts, and I want to share them with you today. Your business structure This is mainly a case of being self-employed or running a company/partnership. If you’re self-employed, a simple personal account may suffice, so long as your expenses/income is clear, so perhaps a separate personal account would be most suitable. However, when it comes to companies /partnerships (regardless of the type), you must get a business bank account. Business transactions Your business transactions are important when choosing a bank account. Specifically, consider the following concerning your (anticipated) transactions: -Average value -Frequency -Location(s) involved in your transactions -Charges by the bank Depending on your answers to the first two aforementioned points, certain banks may appeal to different customers. Therefore, it’s important to get an overview of your forecasted transactions and compare them against the offers available. Your rights upon possible account restrictions Every bank will have its own policies regarding account restrictions. This is a common occurrence and can happen for a variety of reasons, including compliance and investigations. For example, this has been a common issue among digital nomads because many do not have a fixed address. Hence, it’s important to understand the account’s terms and conditions regarding such scenarios. Business support Check to see if the business bank account offers additional support. You may not necessarily need it, but it can be helpful for some. Tide is an example of such an account, offering services such as company incorporation, support in accessing funding and so on. These are 4 things to consider when choosing a business bank account. Make sure you research your options carefully to avoid any regrets down the line. 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 which I scaled to over 30 UK cities. I currently help other entrepreneurs and businesses of all size across several domains. For my credentials, please see here.