“Think of something you honestly enjoy or interests you. Work out how to make the most money out of it and go out there and make it happen. I set up my business with as little as £100. Businesses do not always need a lot of capital or investment to start up.”
In an attempt to challenge the view that under-25’s are “less productive” than older people, the IPF brings you the inspiring story of Tunia Paul, student and co-founder of Trade Unique.
Trade Unique provides clients with the knowledge to become a successful trader, and Tunia manages it alongside studying a degree in International Business and Mandarin at the University of Hertfordshire.
What led Tunia into FX Trading and inspired his business model?
The Foreign Exchange Market, also known as FX, is a 24-hour market for buying and selling currencies. Tunia first became active in FX markets when a firm came to the 21-year-old’s university looking to recruit students to trade for their company. He volunteered to set up a university society for the company and helped them recruit graduates. In exchange, the company provided Tunia with the resources to learn how to become a successful FX trader.
“My biggest success was earning £8,000 in one trade on my lunch break while working in PC World, which is quite ironic, as I was working for £10 per hour. ”
It would be easy to assume that the prospect of earning money quickly attracts people into trading, however, there are significant risks involved. Tunia admits to suffering from significant losses and encourages others to trade responsibly:
“Taking losses can be horrible and can have a bad affect on your self-esteem but if you learn from your losses, you can turn them into wins. Create contracts that are detailed, have them checked over by financial lawyers and ensure that you’re trading investors money by the book.”
Tunia had valuable skills and knowledge through the firm he collaborated with and used this to enhance his own capability further. He advanced beyond the role of a student and became a teacher for the members of his society once he mastered trading himself. It was this action that led to the inspiration of a business plan.
“I decided that if I could make my teaching more consistent, I would be able to make an income from teaching as it would be the best way to monetise my knowledge.”
“I then began to brainstorm with like-minded business associates and developed the idea for Trade Unique,” he added.
Not many full-time students can boast about making £8,000 within the space of an hour. What Trade Unique demonstrates as a business model is that people don’t have to be natural born traders, they can learn how to become one.
“[Trade Unique] provides you with the opportunity to interact with experienced coaches at a time that suits you best, anywhere in the world via our online video.”
Tunia explained a key feature of the Trade Unique franchise:
“After we have taught our clients to trade, we monitor their progression with the intention of recruiting our clients to teach our service to others for a commission. We also have opportunities for our clients/coaches who want to manage capital for investors.”
How does Tunia get the word out about his business?
The company uses a variety of methods, including social media, word of mouth, leafleting, attending networking events and taking advantage of external marketing opportunities in order to promote their business. They also visit university societies across England and teach students about financial markets.
What is it like to be a student and manage a business?
Mastering both the role of a student and a business entrepreneur has not been an easy task. Tunia confessed that he has had to make compromises along the way.
“Admittedly juggling both has had a strain on my university grades due to fact that I am establishing my business. It is important that my business is thriving and growing continuously.”
Nevertheless, the experience has had positive impacts. It helped him to establish clear goals for the future and has given him the confidence to pursue his passion.
“In the future I want Trade Unique to provide financial markets education worldwide to those who need it the most, people within deprived countries worldwide and those within disadvantaged regions nationwide.”
Tunia’s advice for an inspiring entrepreneur
“Think of something you honestly enjoy or interests you. Work out how to make the most money out of it and go out there and make it happen. I set up my business with as little as £100. Businesses do not always need a lot of capital or investment to start up.”
Tunia’s story highlights an important argument; that barriers to productivity are often the result of lack of opportunity and lack of accessibility for young people. Productivity is not simply dependent on the age of an individual. Not only was Tunia able to capitalise on the opportunities he came across at university, but he also co-founded a business model that aims to extend these opportunities to others.