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Poll: Do you have a written business plan for your translation/interpreting business?
Thread poster: ProZ.com Staff
Anne-Laure Martin
Anne-Laure Martin  Identity Verified
France
Local time: 00:22
Spanish to French
+ ...
I have a plan... Nov 11, 2015

but not a written plan.
 
Mario Chavez (X)
Mario Chavez (X)  Identity Verified
Local time: 18:22
English to Spanish
+ ...
“I have a plan” Nov 11, 2015

Anne-Laure Martin wrote:

but not a written plan.



Best movie quote ever!
 
Julian Holmes
Julian Holmes  Identity Verified
Japan
Local time: 07:22
Member (2011)
Japanese to English
Like most translators... Nov 12, 2015

Anne-Laure Martin wrote:

“I have a plan”
but not a written plan.



...everything is in our heads.
 
Muriel Vasconcellos
Muriel Vasconcellos  Identity Verified
United States
Local time: 15:22
Member (2003)
Spanish to English
+ ...
Nature of the business Nov 12, 2015

There is only so much we can plan for. While we can grow our client base, the need for translations can never be predicted. We have no control over the workflow. So the plan can only be stated in generalities.
 
Mario Freitas
Mario Freitas  Identity Verified
Brazil
Local time: 19:22
Member (2014)
English to Portuguese
+ ...
Outcome! Nov 13, 2015

The expected outcome of a business plan is a well-organized business that would allow better results and a better performance. Honestly: does that apply to our translation business? What would the actual positive outcomes of a business plan be to a freelance translator? Now be real when you answer this question. If you consider the theories of business, you will invest in a business plan (and end up very frustrated).
 
Andrea Riffo
Andrea Riffo  Identity Verified
Chile
Local time: 18:22
English to Spanish
+ ...
Simply "no" Nov 16, 2015

Just that. No.

I can see some upsides on having one; however, I have no intention of dedicating time to this in the near future.

So, again: a simple, plain no.
 
TranslateThis
TranslateThis  Identity Verified
Local time: 17:22
Spanish to English
+ ...
Keep it simple Nov 21, 2015

Mario Freitas wrote:
The expected outcome of a business plan is a well-organized business that would allow better results and a better performance. Honestly: does that apply to our translation business? What would the actual positive outcomes of a business plan be to a freelance translator? Now be real when you answer this question.


I don't have a business plan as such. My goal is to work less and earn more. Without compromising the quality, I hasten to add.

For what it’s worth, here is the basic strategy that has worked for me so far:
- specialize
- pick the right clients/agencies to work with and build long-term relationships
- set your rates and stick to them
- learn to negotiate!
- ensure a steady workflow, while choosing easier, more interesting and/or less time-consuming jobs to maximize your earnings (focus on how much you actually make per hour/per day)
- find a partner/back-up (I know, this won't work for everyone)
- increase your productivity
- streamline as much as possible (outsource some administrative tasks, invoicing, organize your inbox, set up filters so that messages from 'cheap' agencies get deleted automatically, etc.)

Outcome:
Better results: yes
Better performance: yes
 
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Poll: Do you have a written business plan for your translation/interpreting business?






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