Features

Diego Fanara: “You can’t build a business on your own”

Features

Diego Fanara: “You can’t build a business on your own”

3 months ago
By Lama El Khamy & Andrea Ribeiro

With all the tools provided to us nowadays, you always feel tempted to start your own business and do your own thing. However, starting from scratch can prove to be a bit tricky and downright dangerous. Well have no fear, we had the privilege to sit down with Diego Fanara, CEO of his own startup, Unibuddy, and chatted with him about his business, the obstacles he faced and how he overcame them and achieved a successful business.

Diego Fanara, born and raised in Geneva, Switzerland, was always interested in Finance. He moved to London to study his passion and decided to do a Masters as well. During his Master’s degree, the idea of Unibuddy was formed and he started brainstorming with a friend. It wasn’t until he finished his masters and met NASDAQ’s founder that he decided to pursue his idea and defer his career in finance.

Unibuddy is an online instant messaging platform where prospective students can chat to current students about the university and the program they’re looking into. It’s a free platform that provides future students with the information they need but couldn’t find on the university’s website or brochure. As for current students, they can work as a Unibuddy ambassador and earn money for their help. Unibuddy is a technology provided to universities who implement them in their own website.

When asked about what inspired him to create Unibuddy, Fanara stated that it was his own experience with applications and university processes that made him come up with the idea. He faced many obstacles but managed to overcome them. One of his biggest obstacles was figuring out what he needed to do and motivating himself.

He states that the only way to overcome it is surrounding yourself with people with different skills. It’s creating a team and appreciating each individual’s skills and what they bring to the table (bet you hate group projects less now).

Diego also decided to give all of us some advice about starting our own company:

Try different things

The tools we are provided with nowadays give us a lot of opportunities to start something and reiterate them as many times as we want. As Fanara states, you can easily build a WordPress website within two hours then start sharing it instantly and getting people to use it. Then within the first week, you can change what hasn’t been working and reimagine your work. With Unibuddy, Diego and his co-founders tried many angles before the came up with what Unibuddy is today.

Spend time not money

Make your startup as cost effective as possible, investing a lot of money from the very beginning is very dangerous and is not necessary. Diego states that spending more time on his business proved to be more effective than money and within a year, Unibuddy was well shaped and already had the interest of many universities.

Just go and do it

Go for it and don’t make yourself believe that you don’t have the tools because as we stated before, all the tools needed are already provided.