In the British market, sole traders make up 76% of all businesses; in New Zealand, this figure reaches 95% in sectors like recruitment. Starting out in such a saturated market can be difficult – particularly for entrepreneurs who have just taken the leap from a long period in a salaried role.
The solution’s not what you might expect. Thinking like a sole trader, but acting like a larger company can reap dividends. Here’s why:
Brands drive business
For small companies, looking as slick and efficient as any of the established firms out there is key to rising above the competition.
- Building an online profile with a free content platform like WordPress provides a 'shop window' to showcase your work, case studies and customer testimonials, creating a professional, results-oriented brand.
- Networking can fall by the wayside with so much time invested into day-to-day operations. However, Regus research shows repeat custom increases when there’s a strong client relationship in up to 80% of cases – so it’s worth working on. Being a sole trader can be isolating, but attending events or making use of coworking spaces designed to bring entrepreneurs together can help you make those connections.
A professional image deepens trust
However you normally work, it’s good PR to present a professional profile when meeting clients.
- The café’s the stereotypical freelancer hangout, but they’re not always the most professional solution: Regus studies show 54% of workers feel they’re inappropriate for meetings and 78% find them a risk to privacy. Serviced offices give entrepreneurs access to reception staff to welcome clients, as well as administrative support for setting up meetings and answering calls.
- If face-to-face meetings are impossible (or excessively pricey), videoconferencing helps to build the professional relationship and contribute to a team spirit.