Sohrab Vazir
Consultant | Founder | Global Citizen | Writer
Tag Archives: Startup
Free Courses For New Founders
In this day and age, free courses for new founders can be super helpful. Starting a new business comes with many challenges and budget is usually the biggest. Therefore, in this article I will share a list of free courses for new founders as a starting point for your entrepreneurship journey. Of course, it must be noted that these courses are primarily centred around digital tools. Therefore, this article may not be applicable to founders seeking a non-digital free course. Introduction to Generative AI | Free Course by Google Great introductory course for founders and other individuals to understand the basics of Generative AI. Introduction to Large Language Models (LLM) | Free Course by Google This is a useful course for founders who wish to develop their own GenAI applications. Google Analytics | Free Course by Google Google Analytics is the fundamental tool that allows you to track your online presence as a founder. Therefore, it’s really important to prioritise learning about Google Analytics as you start your own business. Google Search Console | YouTube Series by Google Search Central Next up is Google Search Console. I mentioned how awesome Google Search Console is in another article about 5 Free Awesome SEO Tools. Google Search Console is the tool that will enable you to track the keywords that your website is ranking for. Of course, the features are far more detailed, but that’s the essential function of Google Search Console Google Digital Garage | Free Course by Google Google Digital Garage offers courses within a number of areas, most notably digital marketing. “The Fundamentals of Digital Marketing” course is free and also comes with a certificate which you can add to your resume or LinkedIn profile too. Digital Marketing Course | Free Course by HubSpot Academy One of the really useful free courses for new founders is the Digital Marketing Course offered by HubSpot academy. It covers the key elements of digital marketing which is very useful for every new business owner. Emotional Intelligence in the Workplace | Course on Udemy Right, so with this last one I wanted to highlight a different angle. So much of the current trends and directions are towards acquiring technical and commercial skills. Over the years there has been increasing attention towards “soft skills”, especially those applicable to the workplace such as emotional intelligence. Therefore, it was worth mentioning a free course for new founders that targets their interpersonal competencies. Introduction to Microsoft Excel | Course on Coursera Being proficient with Excel can go a long way, and therefore this course hosted on Coursera can be very useful to new founders Build a free website with WordPress | Course on Coursera This course is very useful if you wish to build a website for your founders, especially for smaller and more basic projects. These are some of the best free courses for new founders… For more insights check out my blog + discover more about my advisory learning programs for new founders below. 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. For more info, please visit here.
How To Create an Innovator Founder Visa Business Plan?
If you’re considering the UK’s Innovator Founder Visa, then one of your key questions is probably “how to create an Innovator Founder Visa business plan?” *Disclaimer: please note that I am not an immigration adviser, nor do I offer any immigration advice. My services are purely of a business nature. Rightly so, one of your key concerns should be how to create an Innovator Founder Visa business plan. In this article, I will briefly highlight 3 steps that you should take in order to create an Innovator Founder Visa business plan. However, it’s perhaps more accurate to state that these steps will provide the “groundwork” guide for how to create an Innovator Founder Visa business plan. Seek expert opinion Regardless of how much of a seasoned entrepreneur you may be, it’s important to get another perspective. The Innovator Visa route is expensive and you have to invest plenty of time into it. Thus, it’s key to get it right from the start. In this sense, I am the expert that you can speak to (more about me HERE). Determine the viability & innovative aspect of your concept Before taking any other steps, it’s imperative to ensure your idea is both viable and innovative. Here are a few questions/pointers to help you get started: Of course, these are only a small point but they will help to place you in the right path. Research the Innovator Founder Visa Endorsing Bodies Generally business plans follow a standard structure, with certain differences depending on the business and its industry. One of the most helpful things you can do is to get to know the endorsing bodies. Subsequently, it’s key to understand the endorsing body or bodies that you wish to target. In doing so, pay attention to the following: Hopefully these tips should help you get an idea about how to create an Innovator Founder Visa business plan…..Need help? Get in touch with me today for an informal consultation to discuss your business proposition. As a former veteran of the business immigration path, I am best equipped to help you create a solid Innovator Founder Visa business plan. 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. Helpful Resources Immigration business plans: 3 things to keep in mind
5 Things to Consider When Choosing a Business Name
Choosing the right business name is a tricky task. The bad news is that it’s becoming increasingly difficult to choose one these days as well. But not all hope is lost. In this short article I will highlight five key things to consider when choosing a business name. Hopefully these will put you in the right direction and help you avoid any costly mistakes when coming with the ideal name for your business. First and foremost, you need to be mindful of the legal part. This means making sure that your chosen business name does not infringe another business’ intellectual property. With business names, this usually concerns Trade Marks. There are several sources such as the UK’s Intellectual Property Office (IPO) which you can use to check existing trade marks. The best business name has less than 10-15 letters. However, this can be subjective and vary. But the general rule of thumb is that the shorter the name the more memorable it will be. Next on the list is checking the availability of a domain name for your business name. Unless you do not require a website, which in this day and age puts puts your business at a very small minority. You need to ensure that the relevant domain name is available for your chosen name. Here’s a few things to keep in mind and ask yourself during this part: For checking and registering domains, I recommend Namecheap. Many entrepreneurs and companies don’t take domain history into account. For instance, a domain, although suitable in other aspects, may have been used in an illegitimate website before, or it could have a high spam score. The latter can considerably affect the “SEObility” of a domain. One of the most useful tools I have discovered, although it is not strictly useful for domain history, is the WayBack Machine It allows you to see snippets of a website through a historical timeline. For instance, below is a snapshot of StudyFlats’ (my tech startup) website from 2016 Last but not least, you have to make sure that the social media handles of your chosen business name are available. Ideally you want all handles to be available. However, depending on your business, one platform may prevail over the other. So these are five things to keep in mind when choosing a business name…. If you need help with choosing the right business name, have a look at my full services or book a call 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 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. For more info, please visit here.
3 Things to Consider Before Applying For the Innovator Founder Visa
Applying for the Innovator Founder visa requires thought and careful planning. Not only do you have to make your business a success, but you also have to adjust to living in a new country. None of the content in this article or website shall constitute immigration advice in any shape or form. For immigration queries, please refer to a regulated solicitor or an immigration advisor regulated by the OISC. Here are 3 things that you should keep in mind if you’re considering to apply for the UK’s Innovator Founder visa. Living expenses Aside from your business, you need to account for your living costs. Whilst this may seem obvious, the key point is long-term planning. You need to plan for several scenarios, several of which include: Planning carefully for this is essential and ensures there are no nasty surprises later on. Application, immigration & visa costs Aside from your business and personal expenses, there are other costs too. You must find out whether your endorsing body will charge you and if yes, how much. Depending on your circumstances, these costs can vary. Linguistic & cultural differences Again, this also depends on your circumstances. For some, this may not be an issue in the slightest. However, it may take time to get accustomed to cultural differences and different business practices. Therefore, it’s a good idea to learn about the UK’s business culture and everyday life if you’re unfamiliar. These are three obvious, yet underestimated, things to consider before applying for the Innovator Founder visa. If you need business assistance for your idea/company before applying for the Innovator Founder visa, then get in touch with me today or visit my page 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 (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.
5 Awesome Free SEO Tools
If your company relies on SEO in any shape or form, it’s good to be aware of the best and latest free SEO tools available. In this article I will look at 5 cool and effective SEO tools that are out there: Yoast SEO Yoast is a comprehensive SEO plugin. Personally, I listed it as the first one on the list due to my own personal experience with this tool. The key benefit of Yoast is that it helps you learn the foundations of both copywriting and keyword optimization in the context of SEO. Below is an example of how the Yoast SEO tool looks like (and yes, it’s my own dashboard). The only downside of Yoast is that it only works with WordPress, and is not supported by platforms such as Shopify. Yoast also offers both free and premium/paid versions so it’s suitable for all types of users. Even if you’re not planning on using WordPress, Yoast is still quite useful. Check out their free SEO lessons, which is ideal for beginners. Ahrefs Ahrefs is another comprehensive SEO tool. The first benefit is that it is not limited to a specific platform. Additionally, Ahrefs provides various features such as keyword research, and competitor analysis tools. The downside of Ahrefs is that it may be slightly expensive for small businesses or for freelancers. Nevertheless, it does offer some free features so it’s definitely worth keeping in mind among the SEO tools available. Google Search Console Google Search Console is a free and essential SEO tool, rather than a complimentary “add-on” solution. The key importance of Google Search Console is that it shows you exactly what people are searching for on Google. Primarily, it enables you to determine where and what your content is ranking for. Subsequently, you are able to use this data to optimise your content. Google Trends Google Trends is one of the tools that is very useful especially when it comes to SEO planning. It enables you to discover the popularity of specific search queries and/or subjects over a specific period of time. Seobility SEO is an extensive field consisting of both technical and non-technical aspects. Therefore, you should consistently monitor both. Seobility is one of the prominent SEO tools for auditing your website. Check it out here…….It’s completely free! 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. For more info, please visit here.
The Link Between Immigration and Entrepreneurship: An Insight
Immigration and entrepreneurship are two seemingly distinct, yet interrelated, socio-economic phenomenons. The changing natures of commerce and human mobility continue to evolve per global trends and affairs. In this article, I will investigate the link between immigration and entrepreneurship. The other key objective is to identify the influencing factors of the connection between immigration and entrepreneurship. In doing so, I will first provide a brief historical outlook. Thereafter, I will evaluate the latter In light of the fundamental changes through technology and globalisation. Before proceeding further, it is beneficial to provide the readers with concise and separate historical overviews of immigration and entrepreneurship. This enables this research to: “Brief history on Immigration and Entrepreneurship” Immigration: historical & contextual outlook Migration theory Understanding the correlation between immigration and any other socioeconomic phenomena demands a comprehension of human mobility and displacement in a historical context. Immigration is a phenomenon that most of the global population is aware of in some shape or form. Besides, this is a trend that is unlikely to change in light of the anticipated prospective global migration landscape. Interestingly, the work of Rystad (1992), dated three decades ago, makes an exclusive reference to this argument. He states that global migration has to be regarded as a “permanent phenomenon” instead of a “temporary movement”. An interesting point that must be highlighted is that Rystad made this observation in 1992. Fast forward to over thirty years later and Rystad’s view continues to demonstrate its validity. Understanding a socioeconomic phenomenon such as migration demands an insight, however brief, into its existence through a historical lens. It is unfortunate that the limited scope of this article does not allow for a sufficient analysis of migration history. However, the work of Manning (2013) provides a useful starting point. He highlights several key important historical events of human migration as well as their outcome for both the migrants and their destinations. For instance, in an ancient historical context, Manning (2013) refers to the mass migration of the speakers of Indo-European languages to Iran (known as “Persia” by then) and India. The importance of this event is the substantial cultural change in their destinations as a result of migration. Furthermore, Manning’s work is highly relevant to this article as he categorises migration into four different types. He divides migration into the following categories: The fourth form of migration (cross-community) is perhaps the focal point of analysis. Nevertheless, it’s imperative to note that the author argues that most forms of migration have derived significant social, and technological changes in their destination communities (Manning, 2013; pp. 4-6). Why do people immigrate? Lastly, understanding the incentives behind migration allows for a better comprehension of the correlation between immigration and entrepreneurship. Therefore, I will refer to the work of Manning (2013; pp. 7-8) as in my view he offers a thorough categorisation of why humans migrate. According to the author, voluntary human migration may be motivated by the following four factors: From the aforementioned, it can be argued that, overall, improvement of circumstances, self-transformation and risk are common elements. What is entrepreneurship? Entrepreneurship is defined as: “the control and deployment of resources to create an innovative economic organisation (or network of organisations) for gain or growth under conditions of risk and uncertainty” (Dollinger, 2008; pp.9-10). The aforementioned presents an accurate description of entrepreneurship as it acknowledges several key components that form the philosophy of entrepreneurship. Thus, we may categorise its principal elements in the manner below: “Entrepreneurship is the control and deployment of resources to create an innovative economic organisation (or network of organisations) for gain or growth under conditions of risk and uncertainty” Dollinger, 2008 Analysis Background & author’s note Before proceeding to highlight external academic work and/or research, I would like to highlight a key point. Dollinger’s definition of entrepreneurship emphasises resources and risk. As the following sections of this research will focus on the “risk” element, there is a key gap in the existing literature. This gap is evident in the lack of reference to how migrant resources can be a driving factor in increasing migrant entrepreneurship rates. Per my personal experience, many migrants either have no resources (i.e. cash, liquid or physical assets) OR they have a fluidity of resources. For instance, prospective migrant is far more likely to convert their (physical) assets into cash for the purpose of immigration. The aforementioned demands extensive research and analysis which are beyond the limited scope of this research. Nonetheless, it is important to identify, acknowledge and further evaluate the “resource” factor of migration in the context of entrepreneurship. Immigration and entrepreneurship: the link As the starting point of this, I will begin the analysis with a Harvard Business Review article by Vandor (2021). Vandor adopts the stance that immigrants are overall more entrepreneurial and more likely to start businesses. His work is valuable to this research as he draws his hypothesis using several studies. Moreover, he also examines the personal factors surrounding individual migrants. Thus, the aforementioned facilitate a better understanding of the link between employability and entrepreneurship. First and foremost, it is useful to consider some studies concerning migrant entrepreneurship; notable statistics include: In a theoretical context, it was previously stated that “risk” is a mutual factor between pursuing entrepreneurship and migration. The statistics above also further support the idea that a direct link between entrepreneurship and migration is present. However, establishing the latter also begs the question of “how” they are relevant. Perhaps this is the vulnerability of the existing literature surrounding this topic. This is evident in Vandor’s rationale behind the link in question, as well as highlighting the differing viewpoints. In reference to existing research, Vandor (2021) refers to issues such as employment discrimination and adverse policy effects. However, through a study conducted by himself, Vandor argues that the inclination to pursue either entrepreneurship and the decision to migrate share a common factor. This mutual element is the willingness to take risks. Remarks As stated earlier, the scope of this research is…
5 Reasons Why Your Website is Failing You
Are you struggling with lead conversion or a consistently high bounce rate? The issue could be your website and today I’ll share 5 reasons why your website may not be generating results (and what to do about it). Success requires a thorough awareness of where you need to improve. Understanding your website’s issues is the first important step towards better numbers and UX. So, here are 5 areas of potential improvement: Okay so let’s start with an obvious one. If your website’s design is old, too basic or simply visually unappealing, it will take a toll on your conversions. Yes, you could get away with this in the 2000s or even early 2010s. However, with all the tools available today, there’s no excuse for bad design. Solution There are so many design options available that require minimal technical skills. Nonetheless, this is mostly the case if you only require basic functionalities. If you do not require a complex website, Content Management Systems (CMS) are probably your best shot. The most popular example is WordPress. It offers so many different templates. Check Themeforest to get started. Well, I probably don’t need to write too much about this one. We all hate slow computers and websites. In many cases, speed is the primary reason why websites are inadequate. There could be various reasons for this one, and it could get technical depending on how your website is made. Solution As a first step, run a speed test on Google’s free tool: PageSpeed Insights. This tool informs you of the steps you can take to improve your website’s speed. The solutions depend on your website, your technical skills and whether you have a developer or not. The font that you use makes a tremendous difference to the overall feel & UX. Solution Make sure you invest a substantial amount of time and attention to the font that you will use. This is applicable whether you are manually adding a font or purchasing a pre-made template. As well as UX and aesthetics, what your website contains is the ultimate factor. Content is what will keep your user engaged. It also determines whether they will take the next steps on your website. Thus, whether it’s from an SEO or a user retention perspective, your content is imperative. Solution Ask yourself the following questions: If you need help with content creation, especially for SEO, then contact me for help! The majority of users in many sectors visit websites on their phones. It’s so important to take an active approach in optimising your website for mobile use. Hopefully this article should give you an idea as to how you could improve your website . In this day and age, your website is essentially the front office of your business. Therefore, you are losing potential customers If it does not create a positive user experience. If you’d like help with your digital strategy, I’m a business consultant with over 6 years of experience in digital enterprise. Find out more about my services 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 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. For more info, please visit here.
My Experience of the UK Business Visa System
If you’re considering a UK business visa, learning about other people’s experiences is helpful. For those unfamiliar with me or my work: I started my business in the UK as a 22-year-old international graduate on a business visa. After successful extensions and further UK business visas, I obtained permanent residency in the UK (Indefinite Leave to Remain). This was all through my initial business: StudyFlats. Firstly, allow me to elaborate that this is the old visa system and many aspects of this article may not be relevant today. Nor is this any form of immigration advice and it is solely my personal experience. I received two endorsements from Newcastle University for the Tier 1 Graduate Entrepreneur Visa (the former version of the current Start-Up Visa). I subsequently obtained a Tier 1 Entrepreneur Visa (T1E). The latter was the former version of the current Innovator Visa), although with different requirements. As part of the T1E visa extension requirements, the two below were the primary; Whilst they may seem relatively straightforward (though demanding), it was, in fact, quite the opposite. The manner in which the two requirements above were required to be demonstrated to the Home Office was quite complicated. For instance, your proof of investment or job creation would not be acceptable via bank statements/payment proof alone. I was required to enrol my staff on PAYE (provided by HMRC). Plus, the investment proof was subject to stringent requirements. The investment aspect on whether the money was invested via share capital or director’s loan. Below are just “some” examples of the concerns that I had; As stated, I received two endorsements from Newcastle University for my start-up, StudyFlats. Generally speaking, the process of obtaining endorsements can be long and complex. However, it is difficult to define a universal set of problems on this note. This is because endorsing institutions each have their own requirements. This is the case even under the current UK business visa system. This was very confusing and strict to adhere to. One example was when I wanted to rent an office space (as remote working was not yet the norm in 2019). I discovered that, by law, each person is entitled to a minimum space of 11 cubic metres. As I in fact was employing 4 people (instead of 2), this required plenty of time and consideration. Read more about this on the Health & Safety Executive (HSE). As mentioned earlier, the investment aspect itself was quite tricky. An example of this was that the director’s remuneration could not be counted as an investment. Moreover, deciding an investment structure (share capital vs. director’s loan) could have future ramifications if StudyFlats were to raise investment. Employing staff as a solo founder/director is tricky enough. Combine the latter with strict immigration requirements and the degree of complexity is limitless. This is particularly with strict employment laws being in force. Tip: there are lots of “P” forms that you will need to learn about. Therefore, I suggest cracking on with pre-emptive research if you’re planning to recruit staff. Last, but certainly not least, the biggest struggle was just managing and growing the company. Do a simple search about entrepreneurship challenges and you will come across SO much material, and perhaps millions of problems. Entrepreneurship is a tough journey. However, it can be extremely difficult when pursued in the business framework. This is not to discourage founders. If you have a viable idea/business that you believe in, you will overcome the challenges. If I could do it, then so can you! In short, UK business visas can be complex….. However, with the right mindset, management and direction you can overcome the complexity. As stated, the current UK business visa system does substantially differ from the Tier 1 Entrepreneur route. Need help with a UK business visa endorsement? As you have probably seen through my countless disclaimers (another aspect of being an entrepreneur in the UK), I am not an immigration advisor. However, I am a business consultant who can help you map the right idea and also help with your business planning. Better business planning and awareness will maximise your chance of getting an endorsement. And that’s why I’m here! Get in touch with me today for a free 1:1 introductory call. 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. For more info, please visit here.
The 5 Main Reasons Why Startups Fail
Why startups fail is not a new question, given that the majority of startups fail within the first three years. When launching a startup, there are many things to take into account. There are so many factors that may either help your company grow or cause it to fail. Many assume that launching a business means you’ll almost certainly succeed. In reality, failure is something that is more common than most people think. According to Statista, the failure rate for startups stands at 67% within the first 5 years after they are launched. When they fail, it’s often because of one of these five factors. Let’s take a look at why startups fail and how you can avoid falling into the same traps when launching yours. 1. Poor Timing The first reason startups fail is poor timing. Timing is important in any business venture, but it’s especially critical for startups. If you launch your new business at the wrong time, you may find that there is not sufficient demand for your product or service. This can spell disaster for your business in the long term. This can happen for a variety of reasons. First, the market may have changed since you first came up with your idea. If you are launching a tech-based product but the industry has recently undergone a major shift, your product may already be outdated. Second, your customers may not be ready for your product or service. You may have a great idea, but if people don’t need it or can’t use it yet, it won’t be successful. You have to make sure the timing is right before you launch. Third, you may be entering a highly competitive market. If you are trying to launch a new product or service but there are already similar offerings out there, you may experience difficulty getting customers to choose yours. 2. Lack of a viable product Another very common reason for startup failure is the lack of a viable product or service solution. Many entrepreneurs are so excited about their ideas that they don’t ensure the viability of their offering. They rush to get the product into the market as quickly as possible in order to start reaping the benefits of their hard work. First and foremost, ensure that you’re actually solving a real problem. Second, make sure that your product is high quality. You have to be sure that it lasts as long as possible, and that it solves the issue it’s designed to resolve. If your product is low quality and you don’t do anything to resolve the problem, your business will quickly flounder. Customers will be dissatisfied with your product, and they will likely stop purchasing it altogether (should it get to that stage). At that point, it’s highly unlikely that you’ll be able to keep your business afloat. 3. Bad marketing Another reason why startups fail is incorrect marketing. Sadly, a lot of the time, it’s a case of “not what you say, but how you say it”. This happens when a business is marketing the wrong product or has an ineffective marketing strategy. If you are marketing a product or service that no one wants, it won’t help you get new customers. It will only serve to annoy the ones you already have. If you are marketing your product ineffectively, you won’t reach your target audience and you won’t be able to reach them effectively. You have to ensure that your marketing methods are reaching the right people. 4. Poor internal dynamics Another reason why startups fail is that the founding team members are not compatible with each other. If the founding team members aren’t able to work together productively, if they don’t have the right skills, or if they don’t have sufficient chemistry, the business is at risk of failure. Moreover, if there is a case of conflicting personalities, it’s bound to affect productivity. You have to be sure that you are choosing the right people to work with you. At the same time, it’s imperative to ensure that you are choosing partners who appreciate your skills and who can work well with you. If your team members aren’t able to work well with each other, they are unlikely to be able to solve problems and they won’t be able to work toward the same goals as a team. 5. Networking Finally, another reason why startups fail is because of network issues. A lot of startups rely on investors and lenders to help them get up and running. In some cases, they may also rely on partnerships and alliances with other businesses. If you are dealing with a lender or an investor who is disorganised and unreliable, you may find that you don’t get the funding that you need. If you are dealing with a lender or an investor who is dishonest, you may find yourself in serious financial trouble. Similarly, If you are partnering with another business, you have to make sure that you are working with reliable partners. You have to ensure that you are able to work with them effectively and that you are compatible. Hopefully, by now you have a better idea of some of that factors that can contribute to the failure of a startup. If you’re launching your own company, or thinking about doing so, check out what I have on offer 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. For more info, please visit here.
How to Start Your Own Business
Thinking about how to start your own business? Don’t know where to start? The this article’s just right for you I started my own business, an internet start-up called StudyFlats, as a solo immigrant founder at the age of 22 with very little professional experience. Not only did I have to overcome the hardships of starting my own business as a fresh graduate, I also had to deal with a rigid set of immigration rules. (But hey they say whatever doesn’t kill you makes you stronger) Undoubtedly, starting your own business involves (and demands) a great deal of ambiguity, risk, mistakes and sacrifice. I know this because I’ve gone through this journey One of the most difficult stages is actually getting started. Some questions that you may be asking yourself are: What business should I even start? How much money do I need to get started? How to market it? Should I leave my regular job? 1) Start with a “pain point” So we all know that most businesses are essentially solving a problem or simplifying a process (e.g. UberEast simplifies the process of ordering food online). Think about something that has bothered you personally, particularly if it has done so on multiple occasions or if there’s a pattern of that inconvenience. 2) Alternatively, think about what you’re personally good at Okay let’s say you can’t really think of a pain point. Or you did and you discovered that a solution already exists in the market. Another way to start your own business would be to think about your personal skills, strengths and attributes. For example, you’re a two-time national champion in a sport and are a fitness enthusiast. In this case, a good idea would be to start your own (online) personal training business, or something relevant to that area. This is a really good way to start because it involves the things that you’re passionate about. We’d all love to do what we’re passionate about as a career, yet sadly most of us don’t. 3) Market research Regardless of how you find a business idea (steps 1 and 2 above), the next step is validating your idea with actual numbers and facts. This is the process that’s called market research. Market research is about understanding everything that concerns your customers, their characteristics and defining features in addition to the competitive landscape. Make sure to make use of online tools such as Mintel. There are also plenty of online guides about how to do market research such as this one. 4) Think about the business’ operational structure Now that you’ve discovered the idea, it’s time to think how you will implement and execute it. Depending on whether your business provides goods or services (or both), it’s key to think how you will provide them. Is it online over a website? Is it e-commerce? If yes, which platform to use? And if it’s providing products, some relevant questions would be how to source your products? What about storage? And so on… 5) Choose a business name (AND think about your digital marketing strategy) Okay so in my experience, this was the part that things started to get slightly annoying. As you’re planning to start your own business, things are generally exciting and on the optimistic side. However, choosing a name is, in my opinion, where things start to get tricky. Now, the extent of how difficult choosing a business name is will depend on the nature of your business. However, here are some of the things to keep in mind when choosing a name: As a general rule, keep it to less than 10 letters Your chosen name must be rememberable It cannot infringe any existing rights (i.e. if another company is already using that name) It should be available on social media channels No association with any events,. individuals or content that may harm the company’s reputation The latter and additional factors are even more significant if your business is primarily online-based. Some factors include: The availability of domains (we all know the preference is for the .com extensions though this is slowly changing) Social media user availability Once you choose a name, it’s also important to think about your online presence, with some of the key things to consider being: Creating a Google Business profile Website Social media channels 6) Consider the legal structure of your business Once you’ve taken the previous steps, it’s now time to think about the legal structure of your business. Depending on factors such as your circumstances, number of people. involved and so on, this part is highly dependent on each business. In the UK, there are a number of options such as limited companies, partnerships or self-employment. It’s important to consider all the legal implications of any path you decide to take. Make sure to obtain professional advice from an accountant or a solicitor if necessary. 7) Prepare your business plan It’s important to create a 3-5 year forecast and planning for your business. This is where your business plan comes in. 7) Register your business After deciding the legal structure of your business, it’s time to register it. Once again, make sure that you do so after you gain a thorough of understanding of the implications and details of your chosen structure. Here are some of the key steps to take towards starting your own business. As I mentioned before, starting a business is a demanding journey but if you’re passionate about your venture, it’ll all be worth it. You might also like another article of mine about 5 brutal truths about being a founder. Additionally, If you need help with starting your own business, contact me.