Part of what makes an entrepreneur successful is their willingness to learn from mistakes, continue to ask questions and persist until they reach their goal.
1. Tell us more about your company and your journey.
Immigracia Visa Consulting Inc. is a Canadian based Immigration company that helps individuals to immigrate to Canada. We are authorized by IRCC (Immigration, Refugees and Citizenship Canada) to provide, counsel and/or represent our clients.
Immigracia is well informed with any changes in federal or provincial rules and regulations that may impact upon our clients. We have a wealth of practice, knowledge, and experience in different programs that Canada and its provinces offer to people who want to immigrate to Canada.
At Immigracia, our mission is to provide high-skilled, transparent and result-oriented service tailored to clients of all financial abilities in Canada and overseas in a wide range of immigration matters. We are committed to our communities by providing extensive and worthy pro - bono and public service.
2. How did you come up with this idea and go about executing it?
It all started three years back when I was doing research for my own Immigration Process. I went to a lot of consultants and they did not guide me correctly regarding the questions that I asked.
Also, in case of my mother all the consultants were sure that she would not get a visa as she was not having any travel history, not enough ties, etc. and today she is here in Canada with me. That is when I gained a lot of interest in this field. For the consultants, it was just another case, but for me, it became a challenge and my passion.
Also, I believe strongly in the vision of the Immigration Department, the privilege of public service, and both the opportunity and responsibility to use the special gift of being an Immigration consultant to try to help build a nation that is economically, socially and culturally prosperous.
Hence, I came to Canada, studied Immigration Law at The University of British Columbia in Vancouver, and founded my own company thereof.
3. What has been your biggest challenge that you faced and how did you overcome that?
There are hundreds of hurdles you face when starting your own business. I moved to a whole new country. As an ex-pat, it was hard to fit with the style of working in Canada. For an expatriate, understanding and learning a new business culture can be quite challenging.
It is always better to be flexible and have an open mind. The first thing to recognize is that any choice you make will not be perfect because nothing is perfect.
Second, there is no singular, correct way to become an entrepreneur. You can do it your way. Recognise your strengths and weaknesses and play to your strengths. I worked in a full-time job while starting my business and put my salary into the business.
I never borrowed money. Took risks with my savings. In the end, I can say it was worth it. You walk slowly till you succeed.
4. What do you think are the most important qualities of a successful entrepreneur?
I think successful entrepreneurs have a sense of curiosity that allows them to continuously seek new opportunities. Rather than settling for what they think they know, curious entrepreneurs ask challenging questions and explore different avenues.
As a leader, they’re responsible for guiding the trajectory of their business, including every aspect from funding and strategy to resource allocation.
Entrepreneurship is often associated with risk. While it’s true that launching a venture requires an entrepreneur to take risks, they also need to take steps to minimize it. Finally, most people think of entrepreneurship as the process of starting a business.
While the early stages of launching a venture are critical to its success, the process doesn’t end once the business is operational. Entrepreneurship is a long-term endeavour, and entrepreneurs must focus on the process from beginning to end to be successful in the long run.
5. What are some of the most important factors for running a successful business?
I think one of the most important factors is to be persistent, seeing failures as opportunities to learn and grow. Throughout the entrepreneurial process, many hypotheses turn out to be wrong, and some ventures fail altogether.
Part of what makes an entrepreneur successful is their willingness to learn from mistakes, continue to ask questions and persist until they reach their goal. Another important factor is being comfortable with failure. In addition to managing risk and making calculated decisions, entrepreneurship requires a certain level of comfort with failure.
Successful entrepreneurs prepare themselves for and are comfortable with, failure. Rather than let fear hold them back, the possibility of success propels them forward.
6. What are your tips for the first time and aspiring entrepreneurs?
All entrepreneurs should be ready for the journey from idea to implementation. Next, building a great team Is the most Important part of starting a successful business. View employees as partners, but also understand that at the end of the day you are the ultimate decision-maker.
Build a team that is based on Support, Respect, and Accountability. Leverage your investor network. They can help you not only with funding, but also industry savvy, and can connect you to experts in their network.
Know your market - the customers and competitors. What problem is your product solving for your customers? Do not chase funds. Bootstrap. Get some traction. Funds will follow. Also, understand the PESTLE variables that will impact your business, but over which you will have almost 0 control. Finally, never give up on your dream.
Quoting a wise man: “The journey of a thousand miles begins with a single step”.
I will add “… and a lot of money and time” to make this quote apt for start-ups.
7. How can one overcome a hurdle of lack of funds when starting up?
Both start-up founders and employees should be familiar with overcoming adversity. The start-up life is a never-ending battle of establishing yourself as a new player in a market. The battle starts with being able to describe your product or service clearly and succinctly.
Friends and families make the second most reliable source of start-up funding. Getting funds from these entities is, in fact, advantageous as the funds come with very little or no interest at all. If you have accumulated enough funds in your savings account, this is also a dependable way to fund your business.
It comes with its benefits as you do not share profits with anyone and there are no debts to haunt you. Furthermore, you do not give away equity in your venture. However, it is a risky path if your investment fails. Before looking for more funds, it is crucial to evaluate your initial costs.
Looking for extra funding might not be required if you maximize on the little you have. Starting a business venture is no mean task as it requires significant funding. As such, there is a need to secure the required financing from available sources. Crowdfunding and bootstrapping are other options.
- Ankita Goyal (Regulated Canadian Immigration Consultant(RCIC), Commissioner of Oaths, British Columbia, Founder and President, Immigracia Visa Consulting)
Linkedin- https://www.linkedin.com/in/goyalankita/
Website- https://www.immigracia.ca/
Facebook Page- https://www.facebook.com/immigracias/
Facebook group - https://www.facebook.com/groups/702592410490110
Interviewed By Tuhina Rana
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