Sole Traders Pro’s and Con’s

Sole Traders Pro’s and Con’s

The life of a sole trader is one that interesting, diverse, challenging and very rewarding.
Here we'll look at the ups and the downs.

Being a sole trader can mean you work alone and you make all the decisions, the downside to that is at times there are no colleagues to bounce ideas off or proof read your latest marketing blurb, but the up side is that you don’t have to consider other’s opinion that you potentially don’t agree with, you get to make all the decisions that you want to make, you call all the shots and run things the way things should be run, from your perspective.

Working on your own means you must find the opportunity to make contacts and interact with those who can help you build your business which equates to venturing outside your comfort zone and taking the bull by the horn to get to the next stage. Business owners and those who succeed acknowledge and take for granted that fear and overcoming it is all part and parcel of the game. Breaking free from your fears is a sign of growth and development and it’s required if you want to get to the next level.

Motivation is a challenge especially working as a sole trader where continuous effort is required to maintain focus and get up and go. Finding ways to keep going when the phone isn’t ringing and business is slow is one of the most challenging parts and it is here that one must find ways or discuss with inspirational individuals ways to retain the focus you had in the early stages of setting up the business.

Separating work and life are difficult especially in the early years when you want to devote all your time to the new venture. People have suggested that they feel guilty if they are not working on their business plans and yet they experience difficulties from family members stating that investing in the business is all they do so finding the right balance for your personal situation is an individual preference.



Networking groups are one the most effective exercises sole traders can invest in. They get you out with others who  are dealing with similar issues. You can discuss the challenges and benefits of what you do while also developing potential business along the way.

Perhaps you’d like to read more about the rewards and challenges of a sole trader if so check out this piece on startupsmart.com written by Oliver Milman
http://www.startupsmart.com.au/sole-trader/top-10-challenges-faced-by-sole-traders.html?displaypage=tip7

By Linda Ryan