Top 10 challenges faced by sole traders

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5. Motivation

 

 

Are your sales numbers disappointingly low? Has a marketing campaign fallen flat? Did you botch a job for a client and they are demanding a refund or, worse, threatening to tell everyone about it?

 

If so, your motivation could take a hit. The struggles of working for yourself can appear never-ending at times, making the security of a low-risk job at another business appear tempting.

 

If you’re in a motivational slump, it can be hard to drag yourself out of it as it’s likely your attitude will have a knock-on effect on your business.

 

The solution?

 

Shelton says: “If your motivation plummets, keep remembering what excites you about your business and the freedom it represents.”

 

“Whether you’re converting a hobby into a money-making venture or capitalising on skills from your old job. Keep a clear vision and idea of the business to sustain you through any early difficulties.”

 

“Ensure you get support from the rest of your family and they understand the difficulties you are facing so they can be part of your cheer squad, instead of thinking it’s an on-going holiday to have you at home.

“Making sure the family is supportive of the new business will be a major part of your success.”

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