It’s okay to be a sole-trader.

by | 19th September, 2020 | honesty, sole-operator, thoughts on business | 0 comments

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Did you know that over 60% of all businesses in Australia are sole traders?  More often than not, the person you talk to in a business, owns the business. They are an “I” – and usually they are wearing many hats. I think it’s time the “I’s” had more of a voice. We’re small and right now we’re hurting. It’s been tough (and still is) for sole traders to be recognised as operating entities in some states during this pandemic. That has made business ownership especially hard and even more isolating than it might be otherwise.

I wonder if the pressure to appear bigger than we are has contributed to us being so grossly overlooked.

Perhaps it’s time to:

1. Check the pronouns.

If you are a soloist, tell people! Check your website – does it say “we” or does it say “I”?  Does it say “you” will contact a potential client or “someone on our team” will contact a potential client? If more of us felt comfortable using “I” in marketing we might educate others that solo doesn’t mean unreliable. In fact, we know the opposite is true – it means personalised service, extreme client care, project deadlines honoured (often at any cost) and strengthened local connections.

2. Personalise your business.

People buy from people. It’s all about know ⇒ like ⇒ trust. Put your face out there and encourage people to get to know you. Once there is a personal connection (and not just a fancy website for example) customers may begin to appreciate the work you do and capacity to meet demands. In addition, if people connect a person to a business they are more likely to develop empathy for the small business and want to support you by ordering from you or making sure they pay your invoice on time.

3. Think carefully about GST registration.

Yes, I know this topic is delicate, especially given the challenges with access to financial support of late, however, make sure you have good reason to register for GST if you are clearly still well below the threshold. Many businesses are below (25% of all last year in fact) but there is a pressure to register just to “look bigger and serious”. Personal connections will signal your ability to get the job done much more than the ability to charge GST on an invoice.

4. Tell people you are a sole-operator whenever you can.

In an effort to encourage timely payment of my invoices nowadays I print on the bottom that I am a soloist and cash flow is critical to my business success. I want the people who pay the bill to remember that they are paying a person, who in turn is probably paying a mortgage or buying weekly groceries. I’m not just an ABN with a fancy invoice template. I also explain my payment terms with potential clients before we work together.

We are the largest business group in the country and our numbers are growing. Let’s take a collective stand using our solo voices.

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