Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Tag Archives: Innovator Founder Visa
How to come up with an Innovator Founder visa business idea
One of the questions that I keep getting from inquiries is “How do I come up with an Innovator Founder visa business idea?”Therefore, writing an article on this subject may be useful for many of you who are interested in this path. Disclaimer: none of the content in this article, or website, constitute immigration advice in any shape or form. For professional immigration advice, please refer to a regulated immigration advisor or solicitor. First and foremost, it is important to note that the current immigration rules on the Innovator Founder visa require the applicant to have come up with the business idea themselves. This is reflected in page 4 of the case worker guide for the Innovator Founder visa by the Home Office. Therefore, it is important to note neither I nor any other compliant individual and/or entity shall provide you with a business idea. Any party that does so will be violating the immigration rules. Thus, be wary of any person or company that offers a “business idea for sale”. However, if you do have a business idea, I am certainly able to help you with identifying the strengths and weaknesses of that idea. As the UK’s number one business consultant for corporate immigration, I possess the knowledge and experience that will enable me to swiftly identify the key flaws of your business proposal. In this article, I will provide brief guidance via several starting points that will help you come up with a business idea. Therefore, this is a short “manual” and “how to guide” for coming up with any (practical) business idea, irrespective of the objective. Start with a problem (statement) The majority (not all) of successful business ideas are based on problem-solving. Some may not necessarily solve a problem but rather improve how a problem is solved. Hence, your starting point can be the creation of a problem statement sheet. Get your pen and paper out (or open a Word document) and start brainstorming. Think of the following: Research the market Once you have identified an (unsolved) problem, your next step is to engage in market research. In the case of an Innovator Founder visa business idea, this will be the UK market. This will most likely be a time-consuming process, and you must do it correctly. Your market research should ideally consist of both primary and secondary research. Check out this guide by Hubspot, which I have found to be very comprehensive for this part. Identify your strengths and weaknesses as an individual Once you have identified a problem, and the solution based on market research and validation, you should then analyse your individual skills profile. Consider the following: These 3 steps should help you get started on developing an Innovator Founder visa business idea Once you do develop your business idea, I would then advise you to obtain my feedback on your business idea. I will evaluate your Innovator Founder visa business idea within a reasonable timeframe and at a reasonable cost. Remember, business ideas require “business expertise”. Therefore, it is important to seek the right guidance (which is where I will be able to help). Already have a business idea? 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. 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, and mainly with obtaining endorsements from the endorsing bodies.
Innovator Founder Visa | Policy Analysis
Just over a month ago, I created a YouTube video exploring the policy flaws of the UK’s Innovator Founder visa. This article is essentially a reflection of the same video, highlighting three fundamental policy flaws surrounding the Innovator Founder visa requirements. *Please note that this content is merely a reflection of my personal opinion and evaluation and does not constitute immigration advice in any shape or form. If you are seeking immigration advice, please refer to OISC to find a registered immigration advisor/solicitor.* According to the UK Government’s website, the Innovator Founder visa allows international entrepreneurs to set up businesses in the UK. Full details of the visa rules can be found HERE. The purpose of this article, however, is not to outline the general information about this visa. I have written this blog post to: –Highlight the flaws that other founders may resonate with; –To draw the attention of policymakers towards the anticipated flaws of the Innovator Founder visa and how it may potentially harm the UK in the short and long term So, let’s explore the flaws of the Innovator Founder visa policy. The low number of Innovator Founder visa endorsing bodies This is perhaps the major weakness of the Innovator Founder visa policy. This is especially the case when one takes a comparative evaluation between this visa path and its predecessor, the Innovator visa. There are currently 3 endorsing bodies overseeing all applications made under the Innovator Founder visa pathway. This excludes the Global Entrepreneurs Programme (GEP) which is administered by the Department for Business and Trade. The aforementioned is in contrast to over 20 endorsing bodies that had the authority to issue endorsements for the former Innovator visa. Moreover, the previous endorsing bodies included well-established and reputable accelerators such as Founders Factory. To summarise the key issues in relation to the number of endorsing bodies: High endorsement & visa fees Another major issue which may discourage many prospective applicants is the high visa fees associated with this visa pathway. Let’s look at the initial costs associated with the Innovator Founder visa (and these are for single applicants only): As you see, you are paying a minimum of ÂŁ3000 to simply make an application under this visa pathway. By setting such high fees, the UK Government has failed to consider the long-term economic contribution of international entrepreneurs to the UK. Not applicable to all The Innovator Founder visa is likely to not be applicable to every single founder. And the manner in which this is evident is through the three key business idea requirements, which are: Whilst on the surface, the abovestated factors may seem appropriate, they are not practical in action. For instance, the viability requirement may only be evident once a business actually begins trading. Yet, this visa is also aimed at entrepreneurs who wish to “set up” their business in the UK. Another instance where the lack of applicability of this visa path is reflected is the removal of the former Startup and Tier 1 Graduate Entrepreneur visas. These visa routes were specifically aimed at founders who were to set up their business in the UK. Personally, I underwent the Tier 1 Graduate Entrepreneur route myself under the endorsement of Newcastle University. Currently, the Innovator Founder visa is a mashup of all founders, from all backgrounds and regardless of their business nature/stage. Final notes Entrepreneurship is fundamentally unpredictable and involves a core element of risk. Combining this with stringent and unfeasible immigration requirements does not provide an optimal outcome for any stakeholder. Moreover, it will only serve to weaken the UK’s global position as an entrepreneurial hub. I appreciate that policymakers ought to ensure that genuine and innovative migrants move to the UK. Nevertheless, policies should be drafted in such a manner that involves a thorough comprehension of entrepreneurship and also mitigates the risk between the government and international entrepreneurs. Need help with the Innovator Founder visa? I am the UK’s #1 & leading business consultant for international entrepreneurs. Whilst I do not provide immigration advice, I am able to assist in multiple areas such as drafting your Innovator Founder visa business plan. For a full overview of my services, please refer to my homepage here. 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 (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (replaced by the Innovator 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, and mainly with obtaining endorsements from the endorsing bodies.
Innovator Founder Visa: Business Consultant vs. Business Plan Writer
If you are considering the Innovator Founder visa, you have probably come across the terms “business plan writer” and “business consultant”. Well, at least on my website/channels you have. So let’s look at the difference between a business plan writer and a business consultant. Understanding the difference will also help you decide which one may be useful to you. Depending on your venture and personal skills, you may need the help of a business plan writer or business consultant for your Innovator Founder visa application. First of all, I will do the “sales” part to inform you that I am both a business plan writer and a business consultant. Nevertheless, this is not usually the case, distinguishing me from any other service pertaining to Innovator Founder visa and international founders. In fact, I am the UK’s first and #1 business consultant for international founders. Moreover, I was an immigrant entrepreneur myself and settled in the UK via several business visas. Okay, now let’s look at each in detail, followed by a comparison table at the end. Business Plan Writer In the abstract, the function of a plan writer is perhaps quite clear. Business plan writers possess the knowledge and skills to produce a well-written and well-researched business plan However, the key point is that a business plan writer may not necessarily be familiar with running a business or have prior experience of doing so. The key competencies of a business plan writer are: Business Consultant Business consultants, in contrast to business plan writers, are essentially there to advise on your business concept/protocols. Thus, they may not necessarily engage in producing business plans. However, they help you understand what needs to go on your business plan and eventually your venture. The core competencies of a business consultant are: Summary Business Consultant Business Plan Writer In-depth industry knowledge Understanding of business plan standards Experience in running and scaling a business Language/writing skills Need help? I operate as both a consultant and plan writer Whether you need help with writing your business consultant or are seeking a consultant to advise on your operations, I am here to help. Get in touch with me today to find out more. You may also watch a YouTube video that I have made on the same topic. 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 with the digital marketing strategy around SEO, copywriting and content.
Approaching an Innovator Founder Visa Endorsing Body: 3 things to consider
*Disclaimer: None of the content in this article, or this website, constitutes any form of immigration advice whatsoever. The material in relation to immigration on this website is solely “signposting” and readers are encouraged to seek advice from a qualified advisor using the OISC’s website. Any opinions expressed on this website are those of the author and of a business nature, nor do they constitute any form of advice.* Starting a business in the UK requires an endorsement from an Innovator Founder Visa Endorsing Body. These are organisations that are approved by the Home Office to issue endorsements to selected international entrepreneurs. According to the UK Government’s website, there are currently 3 Innovator Founder visa Endorsing Bodies, which you can find HERE. Regardless of your immigration status/nationality, the process of approaching an Innovator Founder visa Endorsing Eody does have a business/commercial element. For instance, your business plan and how well you articulate your idea are integral to the endorsement outcome. In this article, I seek to highlight 3 points that may be beneficial in choosing an Endorsing Body. This is best for your business proposition (e.g. their past portfolio and expertise in your sector). Thus, these factors are the “business/commercial” ones rather than being associated with the visa application. Communication This is a significant factor in any form of relationship, whether personal or professional. Moreover, you will have to work with the Innovator Founder visa Endorsing Body that you choose for the duration of your visa. Hence, it’s important to ensure there is sufficient communication that you feel comfortable with as an entrepreneur. Pay attention to how you and the Endorsing Body communicate in the initial stage. Communication is always a reliable indicator. Communication is also evident in an organisation’s clarity about their procedures. Startup portfolio of the Endorsing Body Another helpful factor in choosing an Endorsing Body, or even another stakeholder such as an accelerator in the next stages, is looking at the past companies under their support. One that may be decisive is industry knowledge. For instance, you have a business proposition in the Blockchain sector and the Endorsing Body has previously supported founders in the same industry. Additional support offered by the Innovator Founder Visa endorsing body Each founder has their own unique circumstances. Therefore, it is a good idea to find out whether the Endorsing Body that you are targeting offers any form of additional support. However, as stated, this may not be applicable to every founder. 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 (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator 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, and mainly with obtaining endorsements from the endorsing bodies.
Immigration Business Plans: 3 things to keep in mind
Preparing an immigration business plan can be a tedious and stressful task. There are many things to consider when starting a business, and each must be reflected in the business plan. This is not exclusive to immigration business plans, but any form of business plan. Moreover, preparing an immigration business plan is separate from being a competent entrepreneur. This is precisely where a business consultant such as myself comes in. In this article, I aim to highlight 3 things to prioritise when preparing an immigration business plan. These are applicable irrespective of whether you writing the plan yourself or working with a consultant/business plan writer. So before discussing the key points, let’s evaluate why writing an immigration business plan can get tricky. As I said earlier, you may be a skilled entrepreneur and have a viable business proposition. However, the issue can sometimes be in communicating that proposition in the best way possible. For example, a business plan may be far better when written with native-level fluency and using visual elements. The many factors that are inherent to a business plan require clear articulation above all. Let’s face it: First impressions are instrumental in outcomes. And your business plan is the opportunity to make that first “professional” impression. With this in mind, now let’s take a look at 3 key things to consider when preparing a business plan. 1. Problem & Solution Problem & solution are the key introductory elements of your business plan. Moreover, they also include an overview of what your product or service is. Ensure to clearly emphasise the following: It is important to be thorough yet clear with this part. By “clear” I am referring to simple, graspable and non-technical language. In summary, focus on clearly communicating the problem you solve and how you do so. 2. Numbers, numbers, numbers….. Please take this lesson from me as an entrepreneur who has been on both sides of the spectrum: “Cash is king”. Cash flow is the bloodline of every business. Unless you are a charity, non-profit or similar organisation, your goal is to make money. Interestingly, many founders over-focus on other aspects such as their product instead of prioritising how they will manage their company’s cash flow and revenue stream. To keep it short: 3. Use visual elements in an immigration business plan Nobody wants to read large chunks of paragraphs in a 20-50 page-long document. Utilise the power of visual elements to create an engaging immigration business plan. These can include charts, bars, graphs and much more. These are 3 things to keep in mind when preparing an immigration business plan. If you need assistance with writing yours, get in touch with me 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 did so by obtaining an endorsement from Newcastle University under the Tier 1 Graduate Entrepreneur Scheme (similar to the current Start-Up Visa). Subsequently, I obtained a further 3-year Tier 1 Entrepreneur Visa (which was replaced by the Innovator 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, and mainly with obtaining endorsements from the endorsing bodies.