10 Tips To Become A Successful Sole Trader

Written by: Fatimah Behagg

Becoming a business owner or sole trader can be one of the most empowering and exhilarating things you can do. When you finally experience the "I made it!" moment, you may wonder what took you so long and regret not having done it sooner.

You may have a multitude of reasons for wanting to take the plunge and launch your own business. Autonomy, freedom, control, money, tired of working for somebody else, sitting on a gem of a business idea you feel compelled to launch before anybody else does, change of circumstances professionally (made redundant or you do not like your boss anymore) or feel so passionate about a hobby or project that you decide you want to get paid to do it. Whatever the reason(s) do not forget your 'why' along the way. Let it drive you forward when you face a low or uncertain point, or when times get tough. Which they will. It is inevitable. You may do something unplanned which annoys a bunch of customers you have worked hard to find. You might make a poor business decision which leads to increased costs and expenses. You may run out of money and be forced to pull the plug altogether. Hopefully not, but it is possible.

Before launching my fitness coaching business, I worked as a Marketing Director in the corporate world. My professional experience up until the point of going solo was focused predominantly on building corporate business brands in the advertising, technology, and business services sectors. My main responsibilities were tied to making these corporations successful. I was tasked with building brands internationally, designing global advertising campaigns, generating leads and business opportunities, and delivering stellar customer experience campaigns and events. It was intense. It was fast-paced and there was always a last-minute deadline you had to drop everything for. Despite years of experience in this type of environment, I was still unprepared for life as a business owner.

Once you come up with the concept, create the business plan, do the research into your audience, industry, and competition, and plan your launch strategy, there will be a lot of things to consider that you may not have factored in.

Here are my top 10 tips to get started and be successful:

1. Just because you decide to go solo, does not mean you have to work solo.

When you get started, there seems to be this overwhelming pressure that you should know how to do everything, and that you must do it all by yourself. This form of thinking will hinder your ability to grow and be successful. It is important to ask for help along the way. So many people are willing to help or point you in the right direction. Ask other business owners how to get started or build a brand or client base. Join social media groups and ask questions. Ask friends and family members for help. Reach out to an ex-colleague you worked with well in the past and run an idea past them. If you feel stuck, ask for help. Do not be too proud to admit if you do not know how to do something. If you need help building your website, or getting a marketing plan together, ask for help. You do not need to be an expert in all areas of the business to be successful.

2. Get organised early on.

There will always be a lot of things to do, and you can quickly become overwhelmed or stressed out trying to manage everything. Being organised is not my strong point, so this is one area I struggle with. To combat it, I try to keep it simple. I have a daily to-do list which I write in my journal each night, or in the morning before I start work. It helps to keep me focused. I write 3 'must-do' items on the list and 1-2 'nice to have' items. This way, I can hold myself accountable to complete the must-do items of each day, and if there is additional time, I will aim to complete the non-priority items. Writing goals has been a game-changer for me in terms of productivity and efficiency, and it means I avoid getting overwhelmed convincing myself I must do everything all at once. Set yourself daily tasks and focus your energy and efforts on achieving those goals. Goal setting will keep you on track and help you to get through your to-do list. Also, it feels incredibly satisfying as you tick things off the list, so make sure to set daily goals, not just high-level business goals. Consider sites such as Monday.com to help you set goals and track tasks.

3. Take advantage of free business tools, technologies, and templates.

There are a lot of useful marketing guides and advertising templates out there to build your brand and promote your offerings. I tend to use Canva for a lot of my online resources and social media posts. It means I save time making things from scratch each time, and it provides me with inspiration design-wise. The good thing about Canva is that it offers templates pre-made for different social media posts. For example, you can select templates depending on whether you are posting to a Facebook page, an Instagram story, or a LinkedIn post. You can avoid wasting time trying to crop and create images and posts from scratch each time. If you are looking to build a brand, and do not have the money to pay a freelancer or hire an agency, keep it basic. Consider using online tools and technologies to better track your client relationships or prepare your newsletters. If email marketing is an important tool for you, consider Mailchimp to communicate with your audience or subscribe list. Take advantage of these free tools to build your brand and market your offerings.

4. Change up your work environment.

As much as I love working from the comfort of my home sometimes, it is a good idea to switch things up. Try working in coffee shops, or flexible workspaces. If you are lacking inspiration or creativity, or perhaps find yourself getting easily distracted at home, consider working somewhere new for the day. I also enjoy the buzz that comes with this. Being around other people can provide that team or social element that you can sometimes miss when you become the boss. It also provides you with structure. It is very easy to fall into bad working habits when working from home. I found I was getting up late, then getting distracted with house chores or admin, and found it hard to focus. Getting outside can provide you with that structure and help to separate work from home life.

5. Assign yourself a mentor.

Having a mentor can help to hold you accountable to move things forward and get things done. Like most people, I can fall into a cycle of saying I will do something and then three months down the line still not doing anything toward making it happen, due to other commitments, not making it a priority, or procrastination. Having a mentor keeps me accountable, pushes me out of my comfort zone, and ensures I do something toward achieving my goals each week. You are more likely to get something done if someone is checking in on you and making sure you are progressing, versus procrastinating. Another reason I assign myself mentors is to discuss things when my motivation level drops from time to time. Even if you have a solid business plan, and a strong client base and things are going well, your motivation levels will not always stay high. You may also need guidance on areas of the business or market you are not comfortable with. For example, in the beginning, you might need help to register your business or get set up with a website and payment systems. Down the line, it might be looking at strategies for how to win more clients or retain those you have. You may face challenges with business finances or run into situations where you simply do not have the knowledge or experience to manage something that might arise.

6. Get comfortable with social media.

You do not have to like social media, but the reality is that your potential customers are on there looking for a solution to a problem. Having a presence online is important. It provides you with a channel to find new customers, engage with existing and new ones, and allows you to build your brand and community organically or via paid ads. If you are unsure how to get started, it might be worth hiring someone to help you for a few hours each week or look at 'how-to' video demos shared online to get set up with the basics. Social media has allowed me to build a brand in the fitness industry and a presence online. It provides me with a medium to interact with people who may want to work with me and allows me to ask questions or share polls to get helpful feedback on a specific topic or idea I might have. It is an excellent way to share more information and build trust online. Most social media tools also offer free analytic tools or insights so you can understand who is consuming your content so that you can better tailor messaging and promotions to suit their needs.

Whether you like it or not, social media is a key channel to create brand awareness and drive long-lasting engagement, and advocacy. You do not need to have an account or profile on all social media sites either. Choose those that are suitable for your business and most likely to have your target audience on. Once you get set up, be as present as you can. Post daily if possible and be as responsive as you can. Showcase client successes, promote offers, ask for feedback, and share updates and valuable content with your audience in mind.

7. Get on top of your accounting early on.

It can be scary to start running your books, especially if numbers are not your thing. There are quite a few digital banking apps out there such as Monzo, and accounting management sites such as QuickBooks. Most of the apps out there are free to download and offer dedicated services teams to help you if you get stuck or have questions. I also recommend hiring an accountant to help you with taxes each year to make sure you are on top of everything. It can be daunting to do these things by yourself, so although there is a cost associated with having someone do your tax returns each year, it removes the element of stress associated with running your books and worrying if the tax man is going to come after you. You may also need or want to consider a side hustle as you grow your business. You may find it difficult to manage outgoings as you get started, so to offset any low revenue months or periods, it might be helpful to have another revenue stream. If you worked in a different industry before going solo, you may want to keep this going regardless, especially if your new business is only going to be part-time.

8. Network often.

It is important to keep your skillset fresh and to build a community of peers or connections in your industry. Sometimes you can fall into a rut of doing everything for the business by yourself and being 'too busy' to network. I push myself to network and build new connections 1-2 times each month. I sign up to free industry talks and events across the city and keep an eye on local sites for any opportunity to showcase my business or build my brand. For example, try signing up for your local newspaper or social media group to stay up to date on upcoming events in the area and advertise your events or promotions.

Speak to as many people as possible each week, not always with the intent to sell, speak to share more information, and educate audiences. It will also contribute to building more brand awareness and increase your chances of converting leads to opportunities and sales. Contact event organisers and see if there is an opportunity for you to speak or get involved in some way. Follow online groups and discussions and try sharing topical content and ask others to contribute or share feedback. Network as much as you can. Build your reputation in the industry and collaborate with others as much as possible. It can spark fresh ideas, help you to connect with a larger community of people, and increase your reach online through shared connections.

9. Ask clients for feedback and referrals.

Client experience must be a top priority for your business to be successful. Ultimately the experiences people have with you will start to shape your brand. Ask for feedback often. Check in with clients and customers regularly.

Ask if they are enjoying the process or product. Find out if there are other ways you can support them. It might feel uncomfortable to ask for feedback as you may receive some negative responses, however, loyal customers will appreciate being asked and it will allow you to review and revise your brand, offerings, and customer experiences. This can also lead to referrals, which can open new revenue streams.

Do not underestimate the power of client advocacy when it comes to building a brand. Focus on designing and delivering exceptional client experiences from the very first interaction. Build trust and do what you can to keep that client satisfied. It costs less to retain a client than it does to source a new one. Make customer experience a priority and plan your strategies around them. It will help to differentiate you from the competition and build a reliable brand that customers can trust. Repeatedly.

10. Review and revise often.

Just because you start down one path does not mean you have to stay on that path. Do regular check-ins with yourself, with clients, and with your mentor(s) to identify areas you can improve. Each month I reflect on what went well and what did not. This includes all areas of the business, from online interactions, client results and satisfaction, business revenue, content and messaging, and anything else that may pop up. When I worked in corporate marketing, we would hold regular team meetings to discuss updates and analyse how well things were working. It is still something that I do now to stay ahead. Sometimes you will spend a long time working on something that you think will resonate with clients, and drive high engagement online, and then unfortunately it tanks. Be prepared for this, and do not take it to heart. Review everything often. Do not be afraid to change things up. People, time, and circumstances will evolve. Be agile.

Bottom Line

Launching a business or becoming a sole trader can be a very daunting prospect and requires patience and perseverance. Do not let fear stop you from making it happen. Do your research and stay focused on your goals. Be prepared for things not to always go to plan. Stay consistent with what you are doing and keep pushing through and ask for help along the way.

You may not always feel motivated to keep going and may consider pulling the plug many times along the way. It is not easy to get started. However, it is so worth it once you are finally in a position where your brand is growing, and you have a client base happy to work with you. It takes time, effort, and a lot of energy. If you are willing to put in the work required to get your business off the ground, then it can be successful.

Concentrate on delivering a superior experience at every interaction to keep clients happy and differentiate your brand and business from the competition. Paying attention to client experiences will build a brand that attracts and retains a loyal base of clients that are happy, satisfied, and more likely to advocate for you. Ultimately it is client experiences that will set you apart from the competition as you build and grow your brand.

If you would like my help getting started as a business owner or would like to connect and discuss marketing plans and customer experience strategies, please get in touch

About the author: Fatimah Behagg is a business owner, brand & growth marketer and certified fitness coach. She has over 14 years of experience as a marketing leader responsible for global advertising campaigns. She partners with start-ups as a consultant to build brands, and currently heads up customer experience for one client. Her mission when launching ‘Flex with Fatz’ was to combine her extensive professional experience and passion for fitness to improve the lives of others. She regularly hosts talks on the importance of mindset & motivation, and blogs frequently on all things health and wellbeing. Her long-term goal being to dedicate her marketing, leadership and fitness experience to inspire on a global scale.