Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Tag Archives: Business Planning
Immigration Business Ideas: How to Get Started
Immigration business ideas are the first starting point for international entrepreneurs. With business immigration becoming increasingly popular, entrepreneurs are on the lookout for high potential business ideas. Exploring immigration business ideas involves various steps and considerations. As a former migrant entrepreneur and a consultant who works with foreign founders, business ideas are a core part of my work. I will highlight a number of factors to consider when exploring high potential immigration business ideas. These will help founders get in the right track and understand the various factors that they ought to prioritize. 1. Problem and demand The first key issue to consider is whether a business idea addresses one or both of the following: I have previously written an article on whether a business idea should always seek to solve a problem. In that article, I argued that while problem-solving is a sound approach to business ideas, it is not the sole determinant of a viable business concept. The key issue to consider when exploring business ideas is demand. If your product and/or service has demand, it will sell. 2. Compliance Immigration business ideas have to go beyond concept viability. They should consider the regulatory framework of the entrepreneur’s destination for business immigration. Therefore, a thorough understanding of the applicant’s destination country and its commercial laws is imperative. 3. Cultural comprehension Another key factor to consider in assessing immigration business ideas is understanding the destination country’s cultural landscape. Cultural dynamics, in many instances, shape a segment’s demands. For instance, a Muslim-majority nation is likely to have a demand for Halal foods. Similarly, a destination which receives a considerable number of Muslim tourists will see an increased demand for Halal products. 4. Immigration laws Lastly, it is imperative that entrepreneurs evaluate the immigration laws of their destination. My personal view is that entrepreneurship and immigration compliance are two distinct, and arguably incompatible, concepts. This is based both on my own experience as a migrant founder and clients whom I have worked with. I successfully navigated the UK’s business immigration laws as a migrant founder and obtained several business visas and permanent residence. However, this journey involved challenges that only those who operate within this space are able to comprehend. Need help with business immigration? As a consultant, I specialise in the commercial aspects of business immigration. I help migrant entrepreneurs validate and evaluate their business concepts, in addition to offering a range of other business services. Contact me to discuss your business immigration challenges, and we can explore the ways in which I may be able to assist. 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 under the endorsement of Newcastle University. 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.
Why every international entrepreneur should work with a business consultant?
You are an international entrepreneur and want to start a business abroad. You may dread the various legal, commercial and perhaps cultural challenges ahead of you. Obtaining a visa, albeit a significant milestone, is only your first hurdle. I know how this situation feels as I have been in your shoes. I became an international entrepreneur in the UK following the competition of my master’s degree at Newcastle University. At the time, I identified a gap in the student housing market, which resulted in conceptualising and founding my former venture, StudyFlats. Within 4 years, I grew StudyFlats to 30+ UK cities, a team of four and we almost closed our first funding round until the lovely events of 2020 squashed the entire company (yes, painful). Nevertheless, I still obtained my Settlement/Indefinite Leave to Remain in the UK, also known as permanent residency. Throughout this entire time, I was fortunate to have friends and a powerful network to help me overcome some of the challenges facing every international entrepreneur. This was especially the case as I started StudyFlats with less than £500 and proofread students’ assignments in the first year to support myself and my business. However, not every international entrepreneur may have the network that I had. Moreover, I still had to make a lot of mistakes and go through extreme financial and mental pressure to grow my business. Yet, I could not identify a business consultant who specialised in working with overseas entrepreneurs (and decided to be the first one myself by the end of 2022). Let me tell you a little truth: as an international entrepreneur, you are at a disadvantage. You are taking risks and are also investing your key resources, time and money. If it fails, you are the only one losing. Risk is a core part of entrepreneurship, regardless of what type of entrepreneur you are. However, the risk is even greater when you are an entrepreneur and also have to comply with immigration rules and milestones. And this is one of the reasons why every international entrepreneur should work with a business consultant. Working with a consultant such as myself will help you in the following ways: Minimising risk My first advice to any entrepreneur is to have a thorough understanding of the market in which they seek to operate. This requires: Many international entrepreneurs lack one or both of the above, and it often results in disaster. The right business consultant will help you minimise risk as they possess both of the above factors. Cultural gap In life, and especially in business, everything boils down to relationships. You may neglect this factor. However, if you fail to communicate with your stakeholders the right way, you are destined to fail. The way business is conducted differs in each country. You may be a skilled entrepreneur, yet lack the cultural grasp of doing business in a country other than yours. Business consultants who work with international entrepreneurs (at least the right ones) will comprehend the importance of this point. Additionally, they will be able to help you successfully navigate the cultural landscape. Commercial expertise Entrepreneurship is a game of unlimited challenges. You fix one aspect, and the other crumbles. This is a brutal reality that you must accept. Additionally, various considerations must be taken into account. Let’s look at a few: By working with a business consultant, you will delegate some of these to them. This is not only sensible from a business perspective, but also essential for you to be able to overcome the personal and professional challenges that you will have to face. These are some of the reasons why every international entrepreneur should work with a business consultant. If you are an international entrepreneur and want to work with a consultant, get in touch with me today. I am the UK’s first and #1 independent business consultant who has been through the immigration journey himself. 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.
Start a business, but not for the wrong reasons
If you are planning to start a business, it is important to understand “why” you are doing so. Each venture has its own “why” and mission. However, some reasons are the wrong ones to begin with, and I will talk about 3 of them in this piece The motivation to start a business vary for each founder or founding team. You may be seeking to offer an innovation, improve an existing process, or fill an existing market gap. However, as a consultant, I have noticed a new wave of “aspiring” business owners who are seeking to become entrepreneurs. Yet, their reasons for doing so are shallow and lack a valid commercial basis. Some of the common themes among these wrong reasons are: 1. Not wanting to have a boss The mindset of starting a business so you can not have a boss to answer to is a dangerous one. You are indeed in charge of everything and there is not a superior that you have to be accountable to. Nevertheless, I learnt that even as a business owner, your customers and other stakeholders are your boss. These are parties that you must keep happy and be accountable to. Thus, the idea that by being a business owner you will forfeit accountability is incorrect. 2. Getting rich quickly I am not denying that businesses are commercial entities. Hence, making money is the primary motive. However, entrepreneurship should not be viewed as the gateway to getting rich quickly. This is unlikely to happen rapidly in the case of most businesses and it will take time, risk, resources and patience. If you are unwilling to invest the abovementioned into starting a business and are looking to make a quick buck, you may be in for disappointment. 3. Ego and vanity Lastly, if starting a business is a tool to stroke your ego and “show off”, you are in for the wrong reason. My philosophy is that the first step towards starting a business is to drop your ego and adopt the mindset that you know nothing. These are 3 common wrong reasons for starting a business. Before doing so, make sure that you have a clear “why” and emphasise the commercial context of starting a business. 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 now help other entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
How I started a tech startup with ÂŁ500 & scaled it to 30+ UK cities
Following the completion of my master’s degree, I founded a tech startup called StudyFlats. Within 3 years, I scaled this PropTech company to over 30 UK cities, with a client base in over 50 countries. As a solo non-technical founder, the idea for StudyFlats seemed far-fetched at first. My business idea was first put to the test when I spoke to Newcastle University. I was an international student in the UK on a visa and therefore had to obtain the correct visa. I pitched the idea to Newcastle University and managed to receive an endorsement for the Tier 1 Graduate Entrepreneur Visa scheme. This was the former equivalent of the former Startup Visa in the UK. The first year The first year was one of the most difficult years of my life. I was a 22-year-old graduate, with a laptop and £500 in my bank account. Not to mention that I had no coding knowledge/background and thus could not create the website myself. I was getting quotes upwards of £10,000 from agencies to create StudyFlats’ website. Needless to say, these were not an option and I was stuck. At the same time, a very dear friend of mine from University, introduced me to a developer who agreed to complete the backend functionalities, whilst I learnt the other parts, especially SEO as I knew I’d heavily rely on it. In the meantime, I was proofreading students’s assignments and dissertations to fund the business and my daily expenses (living in a single room with shared toilets that year was no fun at all). The lesson that I learnt was: where there’s a will there’s a way. I had no option but to grow this company despite all the hurdles. The second & third years year In the second and third years, things began to improve. By the second year, StudyFlats operated in 10 cities. However, this is also when a major competitor began scaling with £70m of funding! It is also worth noting that StudyFlats worked with contractors/freelancers during the second year. Hence, there was no “team” at this point and I essentially did everything that was needed. However, I adopted 2 strategies that gained a unique competitive advantage for StudyFlats, which was integral to its growth. These were: By the end of 2019, we were a team of five, operated across 30+ UK cities, consulted 1000+ students from 50+ countries, and had investors approaching us themselves. March 2020: goodbye And this is where the brutal reality hits: you can do everything right and things can still go south. With the events of 2020, I was reluctant to maintain the company’s operations for that period as it seemed extremely unpredictable and possibly a recipe for liability. Additionally, we needed cash to maintain the company’s operations, yet this was simply not possible as we paused our operations. By 2021, I considered relaunching the company’s operations. However, after considering several factors including the desire to do what I do now as a consultant, I made the very difficult decision that every founder resents. However, I see StudyFlats as a learning experience, the driver of my settlement in the UK and an opportunity that was missed due to factors outside my control. We live and learn, it is what it is. Starting and scaling a (tech) startup is not for the faint-hearted. It involves pain, uncertainty, disappointment, rejection and loneliness. But in the end, it can all be worth it, as it was in my case. 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 now help other migrant entrepreneurs, such as myself, with their businesses, and mainly with obtaining endorsements from the endorsing bodies.
How I will help you increase your website traffic organically
The internet is full of guides on how to increase your website traffic organically, as one simple Google search will tell you. And some can be quite useful, it can be a DIY project and you may increase your website traffic organically (to some degree). However, long-term measurable results will most likely require an expert: and that’s where I come in. As I said before, my intention is not to slay off DIY guides on increasing website traffic organically. However, this article is for founders and businesses who seek to make early investments in their inbound marketing campaigns. This campaign consists of 25 blog articles, that I will write, following the completion of the steps outlined below. For full details please see here. First, let us look at the skills and activities required to increase your website traffic organically through a planned campaign. These are (in respective order): The combination of these steps, when done correctly, will increase your website traffic organically. Now let’s look at each stage in more detail. 1. Product/service evaluation During our first and second calls, I will get a thorough understanding of what you are offering, and what your key distinguishing attributes are. These will enable us to tailor the next steps based on a customer-centric approach. Moreover, understanding the key issues affecting your target audience is imperative. 2. Keyword research & planning After the first step, I will then begin researching the relevant keywords to your business and industry. In doing so, I will consider a range of factors including: Keyword popularity Your budget and company size Strategic ranking: this involves identifying popular keywords unique to your audience through unconventional methods 3. Website heath check | Technical SEO assessment I will run a general website health check / technical SEO analysis for your website. This step is crucial and one that many SEO copywriters or even agencies will neglect. The reason is this: Adverse technical SEO factors affecting your website’s visibility make all other efforts essentially pointless. Therefore, it is important to identify any major issues such as spammy backlinks, missing meta descriptions and so on. 4. Copywriting In the final step, I will begin writing the 25 articles that this campaign is based on. You may be asking “Why 25 blog articles?” This is based on 8 years of SEO experience and research, which is generally the benchmark for witnessing a 30-100% increase in organic website traffic. At this point, leave the magic to me and sit tight whilst your awesome content is in the process of creation. Increase your organic website traffic with me by 30-100% in 6 months. Get started today! 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 founders and businesses increase their online presence through strategy inbound marketing campaigns.
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.
The general costs of running a limited company in the UK
If you want to start a business in the UK, one of the most common ways is through incorporating a limited company. There are various business structures in the UK that one may start a business through. The most common ways are: It is ultimately up to you to decide which structure fits you best. Each has its own tax implications and regulatory requirements. However, assuming that you wish to start a limited company in the UK, below are some of the costs that you will incur. Accounting Limited companies require the director(s) to submit annual accounts. Preparing and filing a limited company’s accounts, in most cases, will require an accountant’s assistance. The costs of an accountant can vary based on: Generally, you can expect to pay your accountant anywhere between ÂŁ500-ÂŁ2000 per year. These are broad estimates, and you may even have to pay more in certain circumstances. Registered address UK limited companies require a registered address. If you have an office, then that address will suffice. However, if you do not have an office, there are two options: Confirmation statement Limited companies are required to file a Confirmation Statement every year, which costs ÂŁ13. On many occasions, this fee will be covered by your accountant as part of their services. Company incorporation Depending on how you incorporate your company, there is an incorporation fee. The cost can range from ÂŁ10 to ÂŁ40. Corporation tax This will depend on whether your UK limited company makes a profit. Currently, the UK’s corporation tax rate is per below: 19% : for limited companies with profits between 0-ÂŁ50,000 25%: for limited companies with profits above ÂŁ250,000 For full information, please refer to the UK Government’s website. These are some of the general costs of running a UK limited company. If you are planning to start a business in the UK and need help, get in touch with me to start your journey today. 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.
6 useful AI tools for founders & businesses
AI tools are revolutionising the world of work for founders and businesses. From customer service to content creation, AI-powered tools have simplified many of the old processes. In this article, I will highlight 6 AI tools that are super useful for founders and businesses. As a founder or a business, you must use your time and resources efficiently. AI-powered tools help you do so. The world of AI has advanced rapidly, and new ways of using it evolve every day. Now let’s talk about some of those awesome AI tools that will help founders and businesses maximise their offer. Canva Canva has added various AI functionalities to enhance its content creation features. For those who don’t know Canva: it is one of the entrepreneurship world’s biggest gifts to humanity. Canva is useful for both founders and other members of businesses for content creation. Recently it has added several useful AI functionalities, making it even more awesome. The YouTube video below highlights some of these really well, so make sure to check it out! Grammarly In this day and age, grammar and spelling mistakes are becoming a thing of the past. We may partially thank the education system for that. However, a big chunk of this progress is thanks to the power of technology. Grammarly is a reflection of this. It is powered by AI and improves your text and writing. Personally, I’m the type to write typos all the time, personally because I have 50 tabs open on my browser, so Grammarly has been a real treat for me! Tidio Chatbots have become increasingly popular in the last few years. Moreover, many chatbots are powered by AI, including Tidio. Tidio offers a range of benefits, including: -Easy-to-use & simple interface -Integration with various platforms such as WordPress, Shopify & Wix -Customizable AI-powered chatbots & lead generators Personally, as a founder and business owner, I am a big fan of Tidio as an AI-powered tool, and it also comes with a free version. ChatGPT I was not sure if I should mention ChatGPT, given all the hype surrounding it and its parent company, OpenAI. However, a list of AI tools for founders and businesses would be incomplete without ChatGPT. There are so many things that founders and businesses can do with ChatGPT, including (but not limited to): -Content creation -Editing written content -Provision of information -Code: generation, debugging and more Synthesia Another one of my favourite AI tools for founders and businesses is Synthesia. Synthesia is a video creation and media generation platform powered by AI. It helps you create professional videos and use AI-based characters as narrators, who look (too) similar to real humans! Notion AI Using your time and resources efficiently is crucial as a founder and/or a business. Therefore, the last few years have witnessed the emergence of many task management and teamwork tools such as Notion or Trello. Notion reserves a unique spot, as it has gone a step further by harnessing the power of AI. This functionality helps founders and businesses to use Notion AI for tasks such as: -Information management and categorisation -Translation -Content generation -Simplification of information -and much more…….. These are 6 useful AI tools for founders and businesses. As a founder, it’s important to keep yourself updated with the latest tech innovations and leverage them to your benefit. 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.
3 UK legislations that business owners should be aware of
There are various UK legislations that business owners must comply with. The UK can be a fantastic place to start a business. However, it is imperative that you are aware of your legal obligations under applicable legislations as a business owner. I have navigated the path of business ownership in one of its worst versions. I was an immigrant subjected to strict business visa terms, 22 years of age and a solo tech founder. So, I know how difficult the whole entrepreneurship can be for each individual. And in this journey, it’s easy to miss some important things. So, in this article, I will highlight three UK legislations that every business owner must be aware of. Data Protection & GDPR (Almost) every business retains and handles personal data. This may seem like one of those “complex corporate” things, it’s crucial to understand. This is a legal area which is subject to misunderstanding, primarily in individual and small business owners. The issue with this part is that many business owners are unaware of. Let me clarify this part with a small case study/example. If you use a website, whether through CMS platforms such as WordPress or Wix, or even code it from scratch, you are collecting user data. In the UK, the key legislations that business owners must be aware of are: Data Protection Act 2018 General Data Protection Regulation (GDPR) Also, ensure that you follow the ICO’s guidelines for your obligations under GDPR. Equality Act 2010 The Equality Act 2010 governs the implementation of non-discrimination and equality in the UK. This UK legislation is applicable to individuals in various contexts, including work. As a business owner, it is important to firstly be aware of your own rights as an individual. It also governs your stakeholder management and how you conduct matters with each, such as customers and staff. Intellectual Property (IP) Intellectual property will primarily concern trade marks and patents. While each of the aforementioned may be applicable to a business, the majority of businesses are concerned with trade marks. Trade marks are applicable to every business as every business requires an identity, where name is the core element. Thus, it is key to understand your branding rights and limitations. This will be attained via sufficient understanding of how trade marks work in the UK. The relevant UK legislations on trade marks for business owners is the Trade Marks Act 1994. Additionally, business owners may access resources provided by the Intellectual Property Office. Patents, on the other hand, are concerned with respect to rights over an “invention” in the form of products and/or processes. In the UK, the legislation concerning business owners is the Patents Act 1977. Are you a business owner and need consultancy on your operations? Book an initial consultation with me for a thorough evaluation……… 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. As a solo founder, I grew my business to 30+ UK cities, with a global client base across 100+ countries. Following the Pandemic killing my precious work/business, I now transfer my knowledge to other entrepreneurs.