Hard Truths for Conveyancers: Why sole traders are just buying a job

TRENT Taylor – whose Skilled Conveyancing business has just been named as the winner in the Conveyancing Category at the 2025 Australian Small Business Champion Awards – answers the question.

Many sole trader conveyancers believe they’re building a business, but in reality, they’ve just bought themselves a job—one with longer hours, higher stress, and no real escape plan. So, why does this happen? And more importantly, how do you shift from owning a job to owning a business?

The Reality of Being a Sole Trader

Most conveyancers go out on their own for control, flexibility, and higher earnings. But instead of creating a scalable business, they become the business. Every file, every client, and every problem rests on their shoulders. If they stop working, the money stops coming in.

The biggest issue? No contingency. Settlements don’t stop just because you take a break. Bank issues don’t pause because you’re unwell. Without a system in place, sole traders are trapped in a cycle where they can’t afford to step away.

Why It Happens

Many sole traders operate in survival mode. They avoid hiring due to overhead fears, resist delegating because “no one can do it as well as I can,” and neglect systemisation. As a result, they work longer, stress more, and never create a business that functions without them.

The Difference Between a Job and a Business

One of my mentors once told me: “A business is a commercial, profitable enterprise that works without you as the owner.” Ask yourself—can your conveyancing business run profitably if you step away for four, five, or six weeks? If not, you don’t have a business; you have a job.

The problem is most sole traders build their business around themselves. Without documented processes, structured training, and delegation, they remain the bottleneck.

The 10 Hats Every Business Owner Must Wear

Every business has essential functions that must be covered. I teach business owners about the 10 Hats that every business requires. Sole traders often juggle multiple hats but typically focus only on a few—handling client work and finances—while ignoring critical areas like marketing, systemisation, or leadership. That’s why their business can’t grow beyond them.

Here’s how to break free:

1. Build Capacity – Hire help before you’re drowning. Even part-time or contract staff can provide relief.
2. Systemise Everything – If your processes live only in your head, you’re the bottleneck. Use workflow tools and task automation.
3. Price for Profit – Stop undercharging. A weak pricing model keeps you stuck on the tools.
4. Delegate Smartly – Admin support, virtual assistants, or contractors can free you to focus on growth.
5. Leverage the Three Levers – Every business runs on people, technology, and systems. If one is missing, you can’t scale.
6. Prepare for Absence – A well-run business functions without its owner. Use breaks to reveal and fix gaps.
7. Plan for the Future – If your business can’t run without you, it’s not a business—it’s a time bomb.

The Hard Truth

If you’re a sole trader running at full capacity, you don’t own a business—you’ve bought yourself a demanding job. And unless you change that, you’ll never be able to step away or plan for the future.

The good news? It’s fixable. But only if you shift your mindset from being a worker to being a business owner. Because real businesses don’t just survive when the owner takes a break—they thrive.