4 Reasons Why Being A Sole Trader Shouldn’t Mean Doing It All Yourself
27 August 2015
Sole traders running their own businesses all too often fall into the trap of trying to do everything themselves. When singlehandedly running a business, it is essential to remember you are restricted by the hours you personally can work. Rather than thinking that means you need to work even longer hours, work out ways you can cut down on your workload so you can focus on what you need to do for your business, while farming out the rest.
Another great reason to outsource might be that there are certain areas that you do not yet have experience in. If you’re not an excellent digital marketer, or if you’re not good with juggling numbers, marketing and accounting might be two elements you choose to outsource.
- Outsource marketing
At first, marketing your business can seem like one of the fun things you can do yourself. It’s fine to set up your social media profiles and put up pictures and logos, but as time wears on, you’ll realise maintaining your digital and real world marketing is a challenging task.
Another reason to outsource marketing is that while the basics can be simple to master, trying more advanced techniques often result in mistakes that can be costly to your business. Find yourself a successful marketing agency, or a marketing expert that you really like, and work with them. It might seem like a lot of money, but you’re looking for the return on your investment.
- Employ a bookkeeper and accountant
You may have some number crunching ability already and if you’re very well organised, keeping excellent records of your business’ outgoings and income can be a simple task that can be done as you go along. While doing your business’ bookkeeping at first may be helpful to get an idea of how things are doing, as time goes on it will take up more of your time. Hiring an accountant can also be a good way to actually save money when filing your annual business return. A good accountant will know the tax man’s rules inside out and can help you to work the system to your advantage.
- Outsource company formation
Forming a company may seem like a relatively small thing to do. However, getting to grips with everything that’s involved takes time, which could be better spent working on your business. Our online company formation service will form your company in just 3-5 working hours, and there are easy to follow step by step instructions to help you through the process. https://blog.eformations.co.uk/legal-requirements/
- Get a cleaner
Getting a cleaner may seem like a luxury you can’t afford, but there’s an easy way to work out if it’s worthwhile or not. If you bill more in an hour than your cleaner does, you should definitely be employing someone else to do it rather than doing it yourself.
Another good reason to get a cleaner is that having a clean and tidy place to work always helps productivity and will promote your chances of success!
Need a helping hand with your business?
At eformations, we’re here to help your business succeed. Whether you’re looking for a quick and easy company formation service, accounting and book keeping, or assistance with other business matters, we offer a wide range of services. You can find further details of what we can do for you over on our website: https://blog.eformations.co.uk. Alternatively, why not call us for a friendly chat about your business on 020 8232 5479?