What does S/O stand for? That’s a question many companies face when they are first starting off in the UK market. They often don’t know the first place to start. The UK marketplace, like the US, is vast and competitive, so it’s important for a new company to get up on everyone else quickly. One way of doing this is by developing an ‘inventive’ business plan, one that sets out their business objectives and goals, as well as how they intend to meet them, and how they intend to market their products and services.

A good business plan should set out what S/O stands for (or doesn’t stand for!) – the short, simple, succinct statement above describes it. Inventive because it requires a short amount of writing to describe what you do, rather than elaborate on a product or service you offer. It’s also much more likely to be accepted and embraced, given that a business plan for any product is likely to be a relatively short document.

This one issue can be crucial in determining whether: your business will succeed or fail. If you simply describe what you do, with no focus on describing your unique selling point(s), then you won’t be taken very seriously. However, a clear, concise, succinct statement about what you do can make all the difference between success and failure.

What does S/O stand for (again, from the UK perspective)? Subscriber, Or client. In other words, your customer is someone who subscribes to your business, and you are the one who delivers that service. You may also be the one who provides that service. Either way, you are your customer.

So what happens if you don’t provide a service? Well, that’s the answer to the original question – you are your own customer. But if you don’t provide a valuable service, then what can you do? You can try to outsource that task, but if you think about it, you aren’t really giving your customer what s/he wants at all, are you? Not really.

So, what does s/o stand for (again, from the UK perspective)? Service, Value, Offer, Customer. This is how you differentiate your business from the rest of the pack. Your goal is to provide the best possible service and value to your customers. Only then will they become loyal repeat customers.

Is it easy? Of course it isn’t! In fact: being a SOHO business owner can be quite challenging, if not downright challenging. It means knowing what your customers are looking for, and what you can deliver to them. It can mean spending a lot of time doing market research and doing everything possible to make sure you have a product or service worth selling, and one that your customers will gladly pay for.

Being a SOHO (small office home office) – entrepreneur, means you’re on your own. That’s not necessarily a bad thing. After all, you are the boss. That doesn’t mean, however, that you can’t have help. There are plenty of SOHO services out there that can help you set up a virtual assistant (if you need one), so you don’t have to spend hours a day looking for an in-house employee. Just know what your goals are, know what your values are, and build your business in a way.

That supports those things while providing a quality product and service that keep your customers coming back.