If you’re a sole trader, you probably started your business with dreams of freedom, flexibility, and financial success. You work hard, put in the hours, and see money coming in—so why does your bank account still look so underwhelming?

The truth is, turnover doesn’t equal profit. Many sole traders are grinding away, pulling in decent revenue, but at the end of the month, they’re barely scraping by. So, what’s going on? And more importantly, how can you fix it?

Let’s dive in.

The “Busy but Broke” Problem

You’re working long hours. Clients keep coming in. Invoices are going out. But somehow, there’s never enough money left over. Sound familiar?

Here’s why:

• Your Prices Are Too Low – You’re working too hard for too little.

• You’re Doing Too Much Work – More clients = more admin, stress, and expenses.

• You Haven’t Factored in All Your Costs – Your real hourly rate is lower than you think.

• You’re Stuck in the Cycle of “More Work = More Money” – But it’s not always true.

Let’s break this down and find a better way forward.

The Harsh Truth: Low Prices = Low Profits

A lot of sole traders price themselves based on what they think clients will pay rather than what they actually need to earn. The result?

• You take on too many clients just to make ends meet.

• You’re constantly working, but not earning enough.

• You don’t have time to focus on growing your business because you’re drowning in client work.

The Fix? Charge More, Work Less, Earn More

Here’s a crazy thought: what if you doubled your prices and worked with half the clients?

• You’d do less work.

• You’d have more time to focus on quality and growth.

• You’d end up making the same—or even more—money.

Sounds scary, right? But stick with me.

Why More Clients Can Mean LESS Money

It seems logical that more clients = more money, but it doesn’t always work that way.

Let’s say you’re charging £200 per job and taking on 20 clients a month. That’s £4,000 revenue, but after expenses, taxes, and time spent on admin, you’re left with a fraction of that.

Now, let’s imagine you increase your prices to £400 per job and take on just 10 clients.

• You’re doing half the work.

• You have less admin and stress.

• You’re still making £4,000 revenue—but with lower expenses and more time.

Higher prices don’t just mean more money—they mean a better business and life.

How to Escape the “Busy but Broke” Trap

So, how do you go from hustling for pennies to working smarter, not harder? Here are some practical steps:

Review Your Pricing (And Raise It!)

If you’re constantly fully booked and still struggling financially, that’s a red flag. You’re too cheap.

Try this:

• Work out how much you actually need to earn after expenses and tax.

• Divide that by how many hours you can realistically work.

• That’s your minimum hourly rate—and it’s probably higher than you think.

Feeling nervous about raising prices? Start by increasing them for new clients first.

Focus on Value, Not Hours

People don’t care how long something takes—they care about the result.

Instead of charging based on time, price based on the value you provide. Clients will happily pay more for expert solutions that save them time, money, and stress.

Example: Instead of charging £100 for 5 hours of work, charge £300 for solving the problem in 2 hours. The client gets the same result, and you earn more in less time.

Trim the Fat (Cut Low-Value Work)

Are you doing extra work that doesn’t add profit?

• Too many small clients taking up time?

• Doing unpaid extras that eat into profits?

• Spending hours on admin instead of billable work?

Audit your time and cut low-value tasks. Automate what you can and focus on high-value clients who pay well.

Say No to Bad Clients

If a client is demanding, pays late, or haggles on price, they’re costing you money.

Your new rule:
Only work with clients who respect your time and pay what you’re worth.

The Bottom Line: Less Work, More Profit

Working harder isn’t always the answer. Working smarter is.

• Charge what you’re worth.

• Take on fewer, higher-paying clients.

• Focus on profit, not just turnover.

You didn’t start your business to work 24/7 and still be broke. Start pricing for profit, not just survival.

Ready to start making more money with less stress? Let’s talk.