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It can feel daunting as a new business when it comes to financial planning. Maybe you aren't sure where to start or are worried about the financial pressures that can come with starting your own business.
In this blog we caught up with Amir Iqbal, Director of Unigenius. An educational consultancy that helps students navigate UK university admissions.
Amir discusses what led him to start his business, challenges faced and what advice he has for aspiring entrepreneurs.
Tell us a bit more about your business?
鈥淲e keep things simple, clear, and realistic for students who might otherwise receive the wrong advice. I started this business because I saw too many international students being misled when searching for courses to study, and their best interests not always being considered during this process. At Unigenius, we do things differently.
鈥淢y team and I are all recent graduates, so we know the system inside out. We provide genuine, experience-based guidance to help students make informed choices about their education and careers.鈥�
What inspired you to start your business?
鈥淢y motivation came from seeing the amount of bad advice students were getting. Having worked in the education sector, I saw too many students being pushed into courses that weren鈥檛 right for them either due to a lack of information or because someone was more interested in making a sale than thinking about their future.
鈥淚 knew I could do better. I wanted to create a service that students could trust, offering honest advice tailored to their goals. Instead of simply getting students into any university, we focus on finding the right fit鈥攚hether it's the best course, financial options, or career prospects after graduation. Education is an investment, and we help students make the right one.鈥�
What are your tips on how a business can remain financially sustainable?
鈥淐ontrol your costs and avoid rushing growth. I've seen too many people try to scale too quickly. For example, fancy offices, large teams, and unnecessary expenses. That鈥檚 the quickest way to burn through cash. When I started Unigenius, I kept things lean, carefully assessing what subscriptions and software we needed. Most services can be found for free or at a low cost online, so it鈥檚 important to be strategic about spending.
鈥淪ustainability comes from building strong, long-term relationships with clients. For us, that means ensuring students are satisfied with our service, so they鈥檒l refer others. A solid reputation is the best marketing strategy. When people trust you, they鈥檒l bring in more business without you needing to constantly invest in ads or promotions.鈥�
Did you face any financial challenges when launching your business and how did you overcome them?
鈥淵es, cash flow was a challenge in the beginning. Since I was funding everything myself, I had to be very cautious with where the money was going鈥擨 couldn鈥檛 afford to make mistakes.
鈥淭o make ends meet, I took a part-time job in a restaurant in the evenings, despite having a background as a senior finance officer. The flexibility allowed me to dedicate my days to building the business. I focused on reinvesting profits wisely, putting money into areas that would drive growth rather than spending on non-essentials.
鈥淚 also applied my finance experience to carefully monitor expenses and ensure we stayed profitable. Financial discipline is key in for any business. You don鈥檛 need huge capital to succeed; you just need to be strategic and wise with the resources you have.鈥�
Do you have any further advice for aspiring entrepreneurs?
鈥淒on鈥檛 overthink it, just start. Too many people wait for the perfect time to launch their business, but it never comes. The best way to learn is by doing.
鈥淏e patient too, success doesn鈥檛 happen overnight. Some months will be slow, some deals will fall through, and things won鈥檛 always go to plan and that鈥檚 normal. The key is to stay consistent, keep learning, and adapt when needed.
鈥淚 started my business by working on weekends and evenings until I was able to replace my full-time job. It wasn鈥檛 easy, but it was worth it.
鈥淎lso, make sure you aren't just doing it for the money. If you鈥檙e in it for quick cash, you鈥檒l lose motivation when things get tough. Do something you believe in and are passionate about that鈥檚 what will keep you going in the long run.鈥�