Three Greatest Challenges Faced by Beginning Sole Traders

 

 

Owning your own business is a dream come true for most sole traders or 'soletrepeneurs'.

 

You’ve done all the research, you’ve opened your doors and business is starting to trickle in, but the road hasn’t been a smooth one.

 

Along with the satisfying feeling of living out your life-long dream come all the challenges of beginning your business as a sole trader. 

 

 

Cash Flow

 

Starting up a business by yourself is not a simple task. It’s not cheap either! Financial planning of any business should begin as soon as the idea for the business comes along. The initial start-up fees can quickly add up, on top of trying to pay yourself a salary. Whether you use personal savings or prefer to take out a small business loan, you assume all the risk of losing that start up money. It is important that a sole proprietor meets with a small business financial planner to accurately set their profit margins to ensure they’re able to provide themselves with a livable salary once business starts.

 

Trying to “do it all”

 

As a result of cash flow challenges, sole traders often try to run every aspect of their business by themselves to help lessen the load of paying employee salaries or sub-contractors fees. This makes sense in theory, however that’s not always the case. It’s rare for a business owner to be an expert in all aspects of the business. You can end up saving more money in the long run by outsourcing or hiring on help with things like social media management, book keeping, cleaning and sanitizing, packaging and shipping, etc. The old adage 'Spend more time working ON your business than IN your business' will bring more financial benefit sooner.

 

Staying Motivated and Positive

 

Furthermore, handling all the tasks on his/her own a sole proprietor can easily become overwhelmed which could lead to issues with motivation and positivity. Finding a mentor to help set realistically attainable goals can help avoid feelings of failure at the beginning. Setting daily and weekly schedules and sticking to them will benefit sole trader in sticking to daily and completely daily tasks. 

 

Working past these obstacles will set you well on your way in establishing yourself as a sole trader!  That’s not to say that these challenges (and new ones) will not continue to creep up as years go on, but you’ll be prepared to handle yourself in those most volatile and impactful first few years. 

 

 

D'licious Gourmet Hampers provide local, sustainable, and environmentally friendly gift hampers which provide a farm gate to table experience for the recipient.

 

Local produce gift hampers are a great way to support a myriad of artisans, with most typically containing products from many such cottage industries within one purchase.

 

We customise corporate gift hampers to provide you with unique, quality gifts which promote your business as professional and caring, while reinforcing your own brand. The service we provide allows you to confidently place your corporate gifting entirely under our care. 

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Sharing Your Story With Your Customers

 

 

Telling a good story is the key to connecting with your customers and growing your business. More and more brands are realizing the power a relatable story can have in helping transform their presence. A good brand story can help boost your social media presence, bump up your website hits and help your company build its “tribe”.

 

Sharing your story makes you a real person in your customers’ eyes. And people want to do business with real people. 

 

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Where The Foodies Are Going This Winter: Regional Flavours

 

 

 

Each July, Australian foodies make the pilgrimage to one of the most tempting events in all of Brisbane - Regional Flavours. This gourmet food event showcases the best food and producers from all corners of Queensland, introducing food lovers to new favorites and reminding them of the country’s most popular classics.

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Closing the Gap: Gift Giving to Family, Friends and Colleagues Around the World 

 

 

 

Gift giving should not be a chore. It is something that should come from the heart. Giving gifts is a way to extend your love for a person and to take the time out of your day looking around for things that you know they would love.

 

All of this is especially important when your family, friends and colleagues are spread around the world.   

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Conscious Gift Giving: 3 Ways to Reduce Your Environmental Footprint When Shopping 

 

It seems as though we are constantly on the search for a gift, whether it’s for a birthday, holiday or other celebration. In today’s world the added stress of purchasing a gift without increasing our carbon footprint can quickly become overwhelming.

 

Here are three ways you can practice conscious gift giving while considering the reduction of your carbon footprint: 

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Picante Chicken

Picante in Spanish means 'spicy', and this dish is that. But it's a pleasant sweet spiciness that your entire family will love.

Reproduced with permission - This month's recipe is courtesy of Kim McCosker from 4 Ingredients, One Pot One Bowl cookbook. 

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Maleny - Sunshine Coast Hinterland

No stay at the Sunshine Coast is complete without a visit to it's beautiful hinterland.

 

And what better place to experience all it has to offer than the delightful town and surrounds of Maleny, perched high in the Blackall Range. The picture perfect landscape consists of the rolling green hills of dairy farms, interspersed with rainforests, lookouts and the Obi Obi Creek, which winds through the area. The nearby Baroon Pocket Dam and Gardners Falls with rock pools and swimming holes complete this natural beauty.

 

A visit to Mary Cairncross park offers panoramic views of the stunning Glass House Mountains to one side, while providing rainforest walking tracks and viewing platforms, picnic areas and the newly opened Rainforest Discovery Centre to the other.  

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Building Customer Loyalty

 

Getting business is hard. Keeping customers is even harder. With current economies rising and fierce competition, companies certainly have to put forth conscience energy and effort into maintaining a consistent customer base. Merely providing a great product or service is no longer enough to keep customers coming back for more.  

 

There are several effective ways to ensure your business is always in the customer's mind:  

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The Five Dos and Don’ts of International Business Gift Giving

 

Giving a gift to international business partners and colleagues is a great idea. It’s a wonderful way to solidify and nurture relationships. And it’s an invaluable way to say ‘Thank You’. Unfortunately, when treading the world of international protocol, it’s easy to make a mistake. Different cultures have different perceptions when it comes to gift-giving. You don't want to unwittingly make a mistake that can hurt rather than help your business, like spending too much money or sending a gift that never arrives.

 

Here are five important notes to keep in mind next time you are planning to give gifts internationally.

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Business Branding through Corporate Gifting

  

Any business that wants to succeed is aware of the need for developing their 'brand'. Your business branding represents who you are, what you offer and stand for, as well as sets you apart from you competitors. Basically it is your identity in the market. Done effectively, it should increase your recognition, help create trust and bring you new customers. 

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Sharing The Love: Get To Know FAN - the Food and Agribusiness Network

 

 

As a small local business, we are happy to have the support and partnership of the phenomenal networking group, Food and Agribusiness Network (FAN). FAN helps to bring like-minded people and businesses together, creating a community that is strengthening the region’s conscious agriculture industry.

 

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Work From Home? 5 Must-Do Secrets For Success

 

 

Working from home can seem like a dream come true for many people. And while there are indeed many perks, a few months trying to run a business out of a home office is long enough for most people to see the challenges. From constant distractions to trying to take on too much, at-home business owners must learn to be strategic in order to have the success they are looking for.

 

 

Here are five must-do secrets every at-home business needs in order to be successful:

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Prawn, Avocado, Ruby Grapefruit and Fennel Salad with Macadamia Dukkah

Reproduced with permission - http://www.mattgolinski.com.au/

 

Based on Queensland's Sunshine Coast, Matt Golinski is a highly regarded, professional chef with a passion for creating cuisine using fresh, seasonal and local ingredients. He has generously shared one of his delicious recipes with us, which we know you will love!

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