Showing posts with label advancement. Show all posts
Showing posts with label advancement. Show all posts

Saturday, 18 May 2019

A Different Voice on How to Become a Successful Freelancer or What It Means to Be One

There has recently been a discussion, yet another discussion in the endless succession of such discussions to be sure, about what it takes to succeed as a freelancer.

I am not qualified by reason of personal achievement to speak as an authority on that, but I want to look analytically and synthetically at where we are with those discussions.

I will inevitably be drawing on the collective experience of such discussions that fit in my attention span.

I will be applying a ruthless, no-nonsense method of intuitive analysis focused on getting right to the point without wasting time on too much mumbo jumbo.

So what does it take to succeed as a freelancer?

It is a platitude to say we need to define success first. It nonetheless needs to be said. It needs to be said because we can't keep comparing apples to oranges to strawberries and melons.

There are up to as many planes and criteria upon which success can be judged as there are the 'judges' of it. Some trimming is therefore necessary. Let's cut it down to two things:

1) Being good at what you do.

This one is easy to define and take further. There exist objective criteria to assess skill. Who wants to can use those, end of analysis for us here. Let's move on to the next one:

2) Money and other benefits to you.

For 'other benefits', generally see no. 1. Let's focus on money now.

Contrary to what some suggest, being successful on this front does not include frugal lifestyles. However you choose to spend your 'salary' does not affect how much you are paid, which is the primary question.

Frugality in *business* expenditure may count, however. Still, money is not created by spending less. It is created by earning more.

The more you earn, the bigger your business success, simple as that.

And that is a matter of:

  • finding and landing clients and jobs, and secondarily keeping them
  • justifying your fees

In other words, it's basically successful sales — generating enough leads and turning them into enough conversions at good enough fee rates to cut a nice profit. The rest is footnotes.

Therefore the kind of advice people need to hear is not a reminder after reminder of how they are not the people who succeeded and how they differ (at some level we aren't all brilliant scientists because we aren't all geniuses), but practical advice on how to actually:

  • get clients/jobs
  • get good rates

Just two things. The essentials.

The whole science of the 'get'. It can be a million words, a thousand books, but it basically comes down to the how to of getting things done.

We can expand this a little as we delve into more detail, viz. how to:

  • get clients with jobs
  • keep them coming/returning, get more coming
  • avoid losing the ones you already have (which tends to be easier than winning new ones and has the same effect)
  • avoid making other stupid mistakes that are easily avoidable (to avoid small mistakes that lose you big money is generally easier than to make the same amount of money back from scratch)
  • keep keeping keeping up

The rest is a matter of degree:

  1. If the degree is low, you struggle. Your success is minimal and consists mostly in not having failed as of yet.
  2. If the degree is moderate, you get by. That is some success, if only in not failing.
  3. If the degree is comfortable, you make it. There is a modicum of success in that.
  4. If the degree gets closer to the wow point, congratulations, you're 'successful' in the typical sense of the word.
We want people to get to point four, but we can't always achieve that by skipping the previous steps. We need the 'A to B' — practical advice on making the small steps.

We don't really need to raise more awareness in people that they are not successful and that that is because they are doing something wrong — they already know that.

'Just do what I did,' is helpful advice provided you explain what you did, in a way that can be repeated, and in a way that demonstrates it was a methodical approach with justified expectations of a desirable outcome, not just a lucky turn of events.

Simply reminding people they aren't quite where you are, and that you are there and they are not, is not helpful. Again, they already know that anyway. Repeating the point time after time again is not helpful advice, it's more self-promotion (not that there's anything wrong with self-promotion per se, but let's just tell that one apart from helpful advice).

'You aren't doing it right,' is not helpful advice. They already know that. And if you keep focusing on how they aren't getting it right without being able to tell them how to do it right, then it gives an impression that you yourself don't quite know what it was that you did right — happens to all of us a lot of the time. The point is, it's not a recipe if it can't be followed with some assurance of achieving the intended result if nothing is done wrong along the way.

And again, people already know they are doing things wrong or at least not doing them right. Presumably they want to change that. So no point dwelling on these two. What everybody needs is some practical, followable, mumbo-jumbo-free advice on — and at least in the form of pointers toward — these two things:

  • how to get clients/jobs
  • how to justify nice rates

(This presupposes the recipient of the advice already knows how to do the actual job and doesn't need to be taught that first.)

To the vast majority of people, myself included, I would suggest leaving the personality/mindset/coaching/esoteric/whatever stuff aside and just simply reading up on:

client acquisition
client retention
communicating your value, being assertive about it, persuading the clients/prospects you deserve the fees you charge or persuading them that it pays to pay what you charge

A lot of this is sales, marketing, negotiation and communication in general, with some aspects of economy and management thrown in, of which a lot of people are unaware simply because of being self-taught (or rather not yet taught) entrepreneurs and not having gone to business school. Some are naturals at it, some aren't. The latter need to learn the basics and expand on that. It starts with reading a book or two about the subject. But people need to be told where to look for the knowledge they need.

My own view is that there is simply not enough knowledge of the basics actually reaching most freelancers, i.e. those who are not business naturals.

Once you've got the basics, you can go on to more advanced stuff, such as image management, successful PR, streamlining your processes, selecting the right prospects, the right deals, honing your deal-closing skills, etc. Discussing these before covering the basics may in fact be counterproductive — confusing and discouraging.

Consequently, I would give people pointers, as specific as possible, to the right resources where they can learn basics and then pointers in the basics of the more advanced stuff they need. From A to B without skipping the basics, unless there is a valid single-issue question that somehow needs to be addressed right then and there (provided it actually can).

Where self-learning from books doesn't seem to cut it, perhaps class would be more helpful. Everyone's learning style is different, as is everybody's learning curve (and in fact slow learners initially are not prevented from becoming big successes in the long run).

Probably some personal practical advice will be necessary on how to apply book knowledge to life in one's specific line of business, which is perhaps what we should focus on when giving people advice — once they're back from the library having covered the basics we asked them to.

If they don't want to, well, that's their problem, I guess. You can't force them. You can't save those who don't want to be saved.

One other thing to consider is that some of us are bottlenecked not so much by any lack of business aptitude as by general life issues such as depression, anxiety, lack of confidence or self-esteem, lack of motivation or agency. All of these need to addressed on the plane they exist, which is not business but life in general.  In those cases reasserting the need to get up, get down to work and get things going will generally not be successful advice (pun somewhat intended).

Thursday, 27 December 2018

What Do I Do if the Client Always Pays Me Late? (Adapt!)

I'll give you a straight answer: adapt.

It's not worth fighting over.

Or stressing over.

Just adapt.

Shrug it off and adapt your business model.

Your business model is far more adaptable than your clients' habits.

You get more and better rewards from adapting your conduct than from trying to adapt your clients' conduct.

Payment leniency is like any other need you can identify in the market — once you identify it, respond to it and profit.

There's really no point insisting on feeling offended/cheated/breached against etc. etc. when you can simply adapt and profit. And with a smile.

Challenges bring opportunities. Outplay life by taking the disadvantages it throws at you and converting them into advantages, coming out on top and profiting.

***

That said, here's some analysis:

What do you stand to gain if you press the matter?

Off the top of my head, I would expect a blend of conflict, guilt, apology and risk avoidance. In effect, probably:

  • slightly faster payments but not always on time, and at a great energy/stress cost for the client that could be better spent
  • a more strained relationship, with less goodwill capital than you could amass by being 'reasonable' and lenient
  • a client less inclined to be forgiving when it's your turn to get late or otherwise slip (anything from stern to vindictive… or actually lenient and forgiving, putting you to shame)
So what if I don't? 

Off the top of my head, things don't change, which can be either good or bad but is more or less the whole point. Old facts, new approach.

Make the choice — given their payment delays, would you drop them or keep them, supposing you can't change the way they act (and possibly they can't either)?

If you choose to part ways, there's no reason to make the split any more hostile or awkward than it has to be.

If you'd rather keep them, it's counterproductive to keep complaining and putting a strain on the relationship. In fact, they could even just start to avoid hiring you and think they're doing you a favour.

So take a new approach. Stop feeling offended, cheated, ignored or whatever is the case. Shrug it off, let it go, stop allowing negative emotions to hold you hostage.

Instead, make it your own policy to extend an unspoken grace period that isn't the client's right but makes your client's life easier, and yours too.

Integrate those delays in your business model. Client payment punctuality is unreliable? Stop relying on clients to pay punctually — as long as they pay at all and don't take too long.

Just keep some floating cash. Don't spend or invest everything. Invest in liquidity and thus security. Your comfort and quality of life will increase dramatically as a result. Ridding yourself of liquidity anxiety will make it so much easier for you to project the calm confidence that wins your clients over as a professional. It will also make you friendlier, and a little relaxed and forgiving attitude (or at least reasonable, at a minimum) will not go unnoticed.

… It enhances your reputation, your goodwill. And that is a great asset and a great benefit to you. It may be intangible, but it has a great effect on your life and can make or unmake your success. Or at least have a very tangible effect on your income.

***

It's easier to get yourself a 'pillow' — a month's, then quarter's, then semester's, and then perhaps a year's worth of income retained as a reserve — than to challenge your client's habits. Besides, as a service provider it's generally a good idea to challenge your own habits and expectations before your client's. And that's not just a chore — like I said, it can make or unmake a successful practice.

And be positive. Don't be too hard on yourself. Perhaps you're already making more than some people you know who are less flexible than you are. Make that flexibility your strength and your policy.

… Doesn't mean it has to be your stated policy. In fact, as you've probably guessed by now, the whole point is that it shouldn't be! If you extend the deadlines, a lot of your clients will still be one or two weeks (or months, or days) late whether the deadline is two or four weeks (or months, or days). Give them a deadline, but don't expect them to keep it — and don't tell them you aren't expecting them to keep it. Just base your own internal calculations on official deadline + grace period.

If you choose to provide an official grace period, which may well be a good move in some situations, still provide an unofficial one after that and base your calculations on it rather than on the official one.

There, you solved your liquidity problem! You removed the anxiety and lack of security resulting from late payments from your clients, without even talking to them, much less straining your relationships.

***

Bonus tip: Consider (and I only say consider) a 3% discount for expedited payment, for example 3 days where the deadline is 30. Perhaps also consider a 1% deadline for not exceeding the 30.

The goal of the 3% discount is not to reward your clients for not being late (for not failing to do what they are already obligated to do). And, as you can see, neither is it the effect. The goal is simply to see the money in your account as soon as possible. Once in, it can't be taken out — unlike when it's still in your client's account/reserve/provision for outgoing payments, let alone the client's general account. You have the money, you no longer have to worry, and that's it.

More elaborate theory is that early, as opposed to timely, payment is a legitimate novel benefit for you. Reciprocally, you provide a legitimate benefit, a small financial concession. However named or classified, it's simply a small financial benefit, and getting emotional about the reason or classification makes very little practical sense.

The 1% discount for not exceeding the deadline obviously does reward your client for not breaching, but the reward is smaller, and the benefit is real. And you don't care about all that, remember? What you care about is that the money is already safely in your account, so the risk of non-payment is no longer there.

The 1% discount is reverse-interest. People feel bad about being penalized, or even confronted about doing something wrong, let alone when they see themselves as not being at fault — and agencies will typically not see themselves as being at fault when they haven't been paid by their own clients yet (get used to that, as you can't change it, at least not you alone and not overnight). Applying late interest or some other form of late fees or penalties will be an antagonizing move and will damage the relationship. By contrast, nobody can complain about not receiving a benefit one, through fault or no fault, just simply didn't qualify for. There are no accusations, no implications of wrongdoing, there's just simply a missed benefit.

Don't want to give up 1% or 3% of your current earnings? Up your pre-discount rates, problem solved. Suppose you charge 100. So now it would be 97, and you don't like that, which is fair. So you need to charge 103.09.

Naturally, changing your rates and payment conditions in tandem would be a bit too obvious and defeat the point of applying incentives instead of penalties, so perhaps wait till your next increase and rather than 105 make it 108. Or make it 105 but earlier. Or only with new clients, or new projects for occasional clients. How to give yourself a smooth raise is a whole different topic.




Recap: As a freelancer, one of your biggest competitive advantages is the adaptability of your small, lean, flexible structure (or even sometimes almost total lack thereof). You can adapt more easily than your clients. And you can also adapt more easily than some of your competitors (including freelancers who don't want to adapt). Use that adaptability and profit. If your clients fail to meet their obligations, try to see beyond the breach and see the need that you can respond to — and profit. This can include the need to adapt your business model to a longer payment cycle. Instead of trying to to turn the tide, you can invest your energy and creativity in using it to your advantage — and there are various ways of doing that. At the end of the day your need is liquidity and security, and that can be achieved in more than one way, and some ways are smarter than others. Be guided by pragmatism, creativity and… empathy. Think outside the box. You're allowed to! You don't have a boss to say you can't. Sometimes you can have your way in the big picture by agreeing to not have your way in small things that are ultimately inconsequential.

Monday, 24 December 2018

As a Freelancer, I Want to Step It up a Bit and Improve My Agency Base. What do I do? (Pt 2 — 11 Pointers & 3-Step Action Plan)

Without much further ado — we did a lot of that in Pt 1 — these are two quotes I'd like you to keep in mind before we cut to the meat. Both are allegedly from Bill Gates and both lack a reliable source for that attribution. ;)


If you're born poor, it's not your mistake. But if you die poor, it is your mistake.

I choose a lazy person to do a hard job, Because a lazy person will find an easy way to do it.

In short, we want to look at our problem from the practical perspective of finding a no-nonsense way of making your life a little easier, with (almost) no mumbo-jumbo. Jokingly we could say laziness should be your guide. Not in the sense of actually being lazy but in the sense of going for simple solutions that actually work and make a difference instead of trying to prove theoretical concepts.

Laziness in this sense means you want to avoid having to do the same thing twice (kind of like I wanted this blog to help me avoid wording the same advice for different people time after time again), you want to create some capital that will keep working for you when you're doing something else. You want to invest and profit — the investment is the money and time you spend on getting some professional basics right, at least the bare minimum, and the profit is more jobs and better rates as a result.

And you want to keep it simple. For a freelancer this largely means focusing on your passive marketing and maxing it out — not instead of doing anything else, but before you do anything else, as a matter of having your priorities in good order.


So:

  1. You're in a better negotiating position when the agency approaches you than when you approach them. Again, this is where your passive marketing shines, as it both attracts them, which will get you their initial tentative interest, and, if you play it right, does much of the job of actually persuading them, so there's little left to be done when they get in touch with you. And if you play it right, you can invert the roles, so it's them wanting to work specifically with you rather than you having to explain and prove to them how you're a good fit for whatever client job they have and you don't. To get in this sweet spot you need: visibility, presence, projecting competence, confidence, moderate approachability/availability/attainability (not too eager, but not elusive to the point of not promising a good return on their invested time, effort and hope — psychology matters here).
  2. You have to be professional — be, act and look the part. This means acting and looking more professional than the average translator and in fact 90% of our casual and self-conscious lot. Not too laid back, too personal. Calm, collected, competent, confident. Not speaking out of turn, not afraid of silence or pause in conversation. Not jovial or airheaded. You don't have to and in fact shouldn't be dull, stern, pedantic or anything of the sort. Learn to see the difference if you don't already. There's gotta be a bit of healthy distance that inspires healthy respect, and getting too personable, as is the current trade in the freelance world, will that distance and will kill that respect. You need a bit of that ivory tower while still remaining moderately approachable — i.e. within achievable but not too easy reach (your road plan en bref) — and keeping them looking forward to the opportunity. Confident and slightly aloof professional professionals inspire this. Personal and personable hey look at me, hire me! choose me! choose me! I want to serve you! I live to please you! it would be the height of my day to take an order from you freelancers don't inspire it at all. In fact, they are like one of 20 desperate folks approaching a moderately attractive stranger and tripping over their feet bending over backwards and getting swatted like flies.
  3. Again, just like in dating, no desperation, no clinginess, etc., and for the same reasons. Plaintive behaviours and overeagerness are a low-value signal (LVS), meaning that you are in effect telling them your value is comparatively lower than theirs, and their market value (MV) is higher. Instead, you want to project high value, but without overdoing it.
  4. And the reason why you don't want to overdue HVS is because you don't want to have an attainability problem — like we said before, you must be within reach, not too distant to realistically work with. You must be reasonably responsive, just not tripping on your own feet running to the phone. But neither can you inspire so much respect and so much distance that people will… keep their respectful distance from you — and be afraid to disturb you at all, negotiate with you, ask about a potential rather than confirmed job, or project your rates as probably not being within their range (when you in fact don't charge as much as they imagine). 
  5. Part of passive lure is samples. Overload your website with various samples of your best and most interesting work; almost. Make it just a little less than too much. Note that this doesn't mean your most complicated or most difficult work; this content has to be able to engage and resound with the reader, including those PMs who are relatively lay or green folks in translation. Those PMs (and their bosses, secretaries, HR people and sometimes clients) still have to be able to understand the text and see what you did there and why and what that is good — good for them. So make sure the samples are simple enough, simple but brilliant, and interesting; exciting even. This is part of your broader story; you're essentially doing storytelling marketing here, just like you do with your bio…
  6. … which, of course, (i.e. the bio) must be interesting, engaging, sending the right message, and getting the right exposure. It will probably attract like 60% of all of your website traffic, so give it some love. Have it professionally written or get some professional assistance, to the extent it wouldn't be dishonest advertising by misrepresentation of your own writing skill.
  7. Professional image relies much on… images! Get a professional executive shot done; the kind that costs quite a bit and is on par with the photos used by top management in your clients' organizations, as well as top authors and experts in the relevant field. Or even better than most of them have, but without clearly being overdone, as you don't want to cast the impression of trying just a bit too hard. The mood had better be more serious than sported by most translators, but without getting too uptight (unless you're in legal, medical or financial translation). For concept and background pictures, you want to spend some money on professional, high-resolution photos that don't look like clipart and aren't used on thousands of other websites. Even if you have to pay like five dollars, most people won't, so you're going to be unique. And that's your goal.
  8. Follow through with non-plaintive, confident presentation of your credentials as highlights — with no begging for validation! Translators constantly beg their prospects to validate them. You don't want to do that. Instead, you have to validate your prospects. You have to validate them in having chosen you or being about to choose you or having shortlisted you or simply having decided to give you five minutes of their reading time. Don't overpromise — it's better to underpromise and overdeliver than the other way round — but be confident.
  9. So credentials, samples, good story. To give you more detail, this means a good landing page that conveys the most important essence of your message — the best of your value proposal — in less than 10 seconds. But also expand on the story for those who do actually want to read, in way that is friendly to the reader, which generally means that the text should be broken up into smaller portions unfolding gradually in order to avoid the 'wall of text' effect but instead suck visitors in gradually as they click to unfold more information.
  10. Don't be told — by defeatists with self-esteem issues, a lot of whom give marketing advice to others — that prospective clients aren't interested in reading about you because you're allegedly so far beneath their attention! That's clearly low-self-esteem thinking (which screams personal issues), and it's markedly different from what the clients actually think. Except perhaps for a certain margin of entitled, toxic clients that you want to avoid if you can help it. Normal people want to read up a bit on people they work with an trust their projects to
  11.  We've already mentioned professional photos, but of course you want a professional website and professional CVs and brochures.  Professional Wordpress themes cost far under $100 apiece and are often easily configurable by a layperson with plenty of help from attached instruction materials, or you can pay a webdesigner several hundred to about a thousand to configure and customize the template for you (or several thousand for the best designers or more complicated jobs). 
Recap:

The goal is to:

(1) reduce, as far as possible, the work you still have to do when approaching them or being approached by them, because there's always going to be some such work to do; and

(2) make them approach you rather than you them, which reduces the amount of work you have to do in order to:
(1º) close the transaction at all; and
(2º) on as good terms for you as possible. 

Either way, this means raising your passive attractiveness to a point where it compels them to action, and this is the opposite of you being compelled to action, which typically results in worse pay and worse other terms than the maxium you could get with your qualifications and your other circumstances.

Implementing these steps will make your life easier and better — this much I can definitely promise you. But you need to make the effort and actually get around to doing all this.

For example here's a simple implementation plan:


  1. Get a professional executive photo & bio. And by professional I mean someone who specializes in high-profile portrait pics, not just any photo service.
  2. Iron out your CV, portfolio and (less importantly) other materials such as brochures.
  3. Get your website professionally done. Don't waste your time trying to DIY it instead of doing paid work for your clients and then paying a real designer to do it better than you could. Same as with photos really.

Don't be discouraged by the hundreds you need to spend so you can profit in thousands or tens of thousands. From my experience some people just won't make the initial up-front expense it takes to cover crucial parts of your professional image professsionally, and that is exactly what holds them back, by preventing them from being able to charge professional rates — which their semi-professional image can't support. Ironically, that's also similar to how clients end up having their sales materials machine-translated or translated by semi-professionals on the cheap side, with the obvious results that we often talk about in translator groups. By insisting on using selfies, beach photos and clumsy websites, and copy that sounds like a child asking a parent for a new toy, we make just the same mistakes. So let's not.

If you take this advice to heart — and, more importantly, act on it and do some work — I once again promise you're going to see some serious results. Also you can't get the results without the work. But if you don't do the work, you'll be in the same old place without being able to move forward. Once again, we aren't talking about any ground-breaking changes here, with overly ambitious goals. We're talking about professional essentials to not even help you get closer to fully realizing your potential but actually to help you stop bottlenecking yourself with inaction, passivity and defeatism.

… So for starters just go and have a nice picture taken of yourself. The results might give you the impulse and the energy to start working on your CV, brochures and other materials. Do at least this. If you see some improvement, spend some of the new income on a new website to amplify the effect and take a bigger step forward. Your bank account will thank you.

But if what you want to tell me is something along the lines of: 'Meh. Too much work. Too uncertain. Don't want to waste my money or time. Are you sure this will work?,' then I honestly don't quite care. Those are the thinking patterns of people who are in a rut and don't want out of it because being in a rut carries some sort of psychological reward for them, e.g. wallowing in self-pity and acting like a victim of fate. Shake that off. I'm not telling you to found a new Microsoft in a garage; I'm only telling you to get a professional photo, a professional CV and a professional website preferably. I'm not asking too much.

The final question — how this applies to your work with agencies?

The post honestly came out far less agency-specific than I expected, perhaps largely because my Facebook advice (from which this post eventually emerged) was more general than the question asked. But while this doesn't seem agency specific on the outside, inside it is. How?

For starters, agencies need translators. They are in a position to assess your qualifications on the basis of your credentials, the rest of your CV, and your samples, at least much more so than the typical end client. They are also repeat purchasers, and more concerned with whatever they're getting from you — which mostly means punctual deliveries and no quality issues to disrupt the flow, better still if you can impress their clients, hence keep those clients and win more by word of mouth and glowing testimonials — than with what sort of client service they're getting from you. Plus, you don't take such a big risk of losing them as a client if you aren't always available. In short, the marketing is so much easier than with direct end clients.

Getting your professional basics covered and continually improving, setting the bar higher and upping your game, gives you access to better-paying agencies and gives whatever agencies want to work with you more incentive to pay more for your work than if you had a barebones semi-professional image. The difference could be, let's say, 20% or 30% of your income, perhaps more. So what's that compared to some time or a couple hundred dollars/pounds/euros?

What you may not see so easily is that you need to keep upping your game to make any falls softer when you trip further down the road. Essentially, it's easier to win more ground than defend what you already have from shrinking. The same goes for your client base and income level. So keep growing, expanding, developing, improving etc., and that will make sure you still have plenty enough even in your worse weeks or months or years, even if you lose an important client or a couple of clients in one go, or if you stop being able to work full time, or some other misfortune happens.

… And the more agencies you have on the top end of 'nice to work with', the more leeway you have to avoid working with agencies on the bottom of the scale. For each new nice agency you land, there's a bad agency you can drop. And if you suddenly end up with a surplus of well-paying work… boy, we all wish we had such problems to worry about. (You'll just raise your rates, especially for the lowest payers, to reduce demand to a more manageable level. So nothing to be scared about.)

Pretty much the same will in fact apply to direct end clients, except getting them will be more complicated, as you'll need to go after them more proactively or at least be where they are and sometimes convince them that they need your services, which is far more work and which is less the case with agencies. Agencies, once again, are always there, usually on the lookout for translators and well aware that they need dependable, punctual, conscientious translators that are hopefully also on the higher end of the skill spectrum (and helping you show that was the goal of this post all along).

Saturday, 18 August 2018

Don't Get Too Tied Up in Your Current Project. At Least Respond to Quotation Requests.

Some of us are great multitaskers, some aren't.

Have you ever been so tied up in your current project you forgot about everything else, including your next project? Or your last project, for that matter. And how many times did a lucrative project miss you because of that? Potentially way more lucrative than whatever you were doing that prevented you from picking up the phone?

So let's not get sucked completely in like that. Or hire an assistant — and virtual assistants can be hired for short durations on a B2B service basis — if the practice can afford it.

Either way, those calls must be picked up, mail must be checked, invoices won't write themselves, and clients have no way of reaching us when we're isolated inside our own little worlds.

So let's not make our focus on the current task more exclusive than is necessary.

A lot of this is in the head. There's no law that says we can't. Nor a law of physics that makes us unable to. The blocks are real, but soft. Just like any other soft block that exists in one's head.

So without delving into 'mindset' nonsense, a freelance professional needs to learn to take breaks and check mail and at least return calls. Better still, make sure the phone is charged, not muted, and lying nearby and your clients know to call you the old-fashioned way when something is really urgent or a quick decision is needed — and mail you and wait an our or two or three if it's not.

Some things to consider:

  • separate number and address for returning clients (versus general inquiries)
  • separate address for specific quotation requests such as those sent through the quotation form & file upload on your website (versus general inquiries, broad RFPs etc.)
  • separate number and address for urgent cases, i.e. a hotline established for those clients who may need some ASAP post-delivery service
  • separate address for subscriptions, memberships, etc. (versus signing up with your main business address)
  • separate monitor to keep your mailbox open at all times
  • forcing yourself to learn to fish out the most important stuff and let go of the rest until its time finally comes

It's worth noting that the last item on the list — the one about having a filter in your head — is a classic management exercise in prioritizing. It's a skill everybody needs to pick up at some point on the path of professional if not personal growth. The sooner, the more practical.

While perfecting the art by trial and error may take some time, you're probably better off developing some routines before you actually have to use them. Simply put, it's easier to stick with existing just-in-case procedures, however imperfect they are due to their untested status, than invent them as you need them.

Hence, just spend some time thinking about what filters to use when you have the luxury of sitting back with a cup of tea instead of having to think on the spot. Just don't overplan it and don't become too rigid.

Think about questions to ask and ways of getting to those questions fast. Think what sort of mail needs what sort of reaction time from you, assign the priority, compare it to the priority of whatever you happen to be doing right now, and so on.


Example 1:

You have an urgent project due in 3 hours.

You can afford 10 minutes, but not 30.

A prospective client sends you a request for quotation for a specific service on short notice, and a broader inquiry about possible collaboration.

What can you do?

Surely you can't or at least shouldn't jeopardize your current project. As a professional, your word is your bond, reputation is everything and so on. Hence you won't be replying to all those questions about hypothetical collaboration right away. And you don't want to, anyway. But this doesn't mean you can't try to get that specific project your client also mentioned. So send a quotation for the specific project and promise to get back to the client within a specified time-frame about the rest. Make sure you'll really be able to write before, and not after, that self-imposed deadline. Underpromise and overdeliver, not the other way round.


Example 2:

You have an urgent project due in 3 hours.

Your other client calls, starts asking, it's all vague. You don't want to be rude, but you can't sense much potential either, and the clock is ticking, while your client keeps talking, and talking.

What can you do?

Wait for a pause (few people can entirely avoid one for longer than a minute), then go in for the kill. Make it a swift kill, you may not get one more chance. Say you're happy to hear from them. Of course you're available. Of course you can do it (if you really can). Your fee would be such and such. Please call when you have more specific information, now I need to get back to some really pressing stuff, or it's gonna cost me my head, thank you for understanding. Bye.

… And go back to work, focus on it, finish it, send it back and make sure you did (e.g. attachments really attached, you really hit the send button, etc.), then call back that other client. Start from thanking them for their patience and understanding. You may even have some time to chat at leisure, ask about their kids, whatever, show you care, show they're imporant to you.

Example 3:

You have an urgent project due in 3 hours.

You get a call or message, there's some large and somewhat complicated request. And they want a specific time-line and fee estimate on it.
And it's the same client.

What can you do?

Obviously, you can't just be late on your first project and probably don't want to ignore the other inquiry, either. So? Defer to your client. 'Do you prefer me to finish X first or should I put X on hold and get you a quote on Y first? What's more important to you?'



Example 4:

You have an urgent project due in 3 hours.

You get a call or message, there's some large and somewhat complicated request. And they want a specific time-line and fee estimate on it.
And it's not the same client.

What can you do?

Obviously, you can't just be late on your first client's project, and you probably don't want to ignore your second client, either. But it is equally evident you just have no space to prepare a comprehensive quotation right now.

So what can you do?

Excuse yourself, saying there's a project you must be finishing very soon, in fact there are only 3 hours left on it. Your client will feel appreciated you still took the call or checked the mail and actually replied. Inform the client about the general rules you'd be applying to the quotation, without calculating the application to the specific case — that's something the client more or less can do. If not, the client can get a general feel of whether your rates are fair and reasonable and within the client's budget, or just what they are, give or take some, so there's something to tell the boss (or the client's client).

Or give a ballpark figure. Or an upper limit. Discount it a little if you think that's what it takes to avoid overcharging.

***

As you can clearly see all these examples typically result in some degree of panic if you aren't prepared. On the other hand, they are far from hard to think about in advance based on your own experience to date and your imagination.

So sit down, think for a while and come up with some such approximate procedures on a less busy day, like this Saturday was for me.

Bonus: Clients tend to appreciate preparation, confidence and calm. All of these project experience, professionalism, security and control. And these, in turn, put your client's minds at ease by demonstrating they've come to the right place.

The above remains true even if they also appreciate someone whose main asset or advance is flexibility and improvisation, as tends to be the case with freelancers, solos and small business operators.

You can in fact combine the best of the two worlds, and the way to do so is by pencilling in some basic scenarios in advance and developing on them as you go, on a case-by-case basis.

Those practical ad-hoc case-by-case decision-making skills which you need will still improve from considering theoretical scenarios. The more situations you consider in advance, the less time it will take to assess new situations as they pop up.

Of course, you can always analyse what you could have done better in this or that case, from an ex-post perspective — but obviously for the sake of learning only and not beating yourself up over it.

***

And one thing I almost forgot: Don't come up with ridiculously short deadlines. Don't make them shorter and shorter. Probe your client. Find out how urgent the job really is — which is also important in terms of, say, unnecessary rush fees that you may have a professional duty to help your client avoid (as tends to be the case in regulated professions). Make sure you have the time to do the job properly and without dropping dead at the end, and without becoming absolutely unable to pick up the phone before you finish.

Thursday, 9 August 2018

The Power of the Next Time

In what could be one of my last posts on this blog, I'd like to talk about something that's very simple and very underappreciated — the positive aspect of the

next time

We tend to associate the 'next time' with empty promises that are cheap currency to exchange for tangible financial concessions on our part. But, the 'next time' can be used as a positive tool just as well.

Few of us freelancers, solos and small entrepreneurs aren't wary about flat out denying our clients. We know the implications. Denying does not necessarily result in client loss, but it's hardly good for the relationship. And at some point we do flat out deny anyway.

So here's suggestion: When you receive an offer you feel you have to accept but you're also conflicted because you should reject it on principle, instead of flat out rejecting or flat out accepting or allowing the situation to degenerate into a haggling or whining session — use the 'next time' way out.

Specifying some conditions for the 'next time' allows you to avoid refusing your client but also allows you to avoid sacrificing your own position or principles. It also shows your client you're someone who is reasonable but at the same time to be taken seriously.

Incidentally, just throw some old-fashioned hard work with good results in the mix, and it probably won't be exaggerating to say the image of the quintessential professional pretty much paints itself. On a basic level, one doesn't need much more.

When the next time comes, however, do be consistent. There is no more next time, because the next time is now. You can still show yourself as a reasonable person capable of compromise, but some things need to change, and that change needs to take things closer to where they should be.

So don't worry, meeting your client halfway is not a defeat. It just shows you're civilized, considerate and patient and have a hard time completely prioritizing your own interests over someone else's. That's the stuff of which good relationships are made. But, continue to expect and demand things to continue to move forward in the right direction.

Don't worry if you meet with resistance. Some people will test you to avoid being the sucker who pays the first quoted price that nobody else's is paying. They'll need some assurance that's not what is happening. And that may take some arguing about your initial quotes, first proposals, etc.


If the client says there's no room to move — 'as much as we'd like to, we just can't' — try to look for a compromise solution, a give-and-take. Better conditions for the client, better conditions for you. Reciprocity. Equivalence. Balance. You may want to read my post about non-financial terms.

If the client gives you a flat no, take it or leave it, you may want to be more proactive in considering that perhaps you should in fact leave it. Which may in fact be another test.


Monday, 12 March 2018

100% Quote Acceptance Is Bad

Having your quote accepted or chosen all the time can be a source of pride, but that's misguided.

It does not necessarily mean literally everybody and his dog agrees you're the best.

If you think they believe're the best bang for the buck, that's closer to it, but not yet there.

Unless your quote is outside their spending limit, the decision comes down to two things:
  • how much value they get for what they pay
  • the alternatives (BATNA) and the cost (or bother) of pursuing them
All of these factors are subjective. They depend on personal tastes, needs and circumstances.

If everybody always agrees you're the best choice regardless of the entire range of subjective differences, this means your pricing is 'objectively'[1] a bargain by a large margin. So large it always outweighs all other factors in the judgement, no matter who's judging.

Next, if nobody ever complains about not being able to afford you, it not only means everybody can afford you easily (which is not bad per se, if that's your mission), it also means nobody will even try pretending otherwise.

… Which means, most likely, you're charging way below your league.

If nobody can ever undercut you, most likely you're the one doing the undercutting. Ooops!

Perhaps you just forgot to give yourself a raise. For ten years or so.


[1] Intersubjectively, but let's not go there.











Monday, 26 September 2016

Work & Life Balance Has Everything To Do With Your Rates

Your rates are a key factor, or even the key factor in your work-and-life balance. If a freelancer or solo practitioner complains about work-and-life balance, big chances are it's because that freelancer's rates are too low — or at least lower than they could be.

You could say: 'Oh, but life isn't all about money.' Sure, it's not. But I want you to see three very important things:

  1. If you're asking about work-and-life balance, it probably means you don't have enough life because work takes too much time. Ironclad fact: If you didn't have enough work, you'd be asking how to get more work, not how to get more balance.
  2. Work time results from workload. You can't not see how the amount of time you spend at work is the direct result of how much work you get or take.
  3. How much work you can get or have to take depends on a combination of factors, where your rates are a prominent one.
The point is: Rates go up, work goes down; you don't have to analyse ebbs and flows to know this.

By contrast, having too much work often results from charging less than you could on the basis of your qualifications, skill, experience and other factors that make your services more valued and more in demand. In other words, chances are you're underselling.

Think of your rates as a slider with which you can manage the size of your workload by adjusting demand.

You should consider having separate sliders for overtime ('rush fees') and anything else you would prefer not to be doing all the time, just some of the time, and be adequately compensated for the added inconvenience.

In other words, use your rates as incentives and disincentives until you find the right balance.


Longer version:

From basic maths at school you certainly remember that 40 * 60 produces the exact same outcome as 60 * 40. For example, whether your garden is 60 ft long and 40 wide or 40 long and 60 wide, you still have 240 square feet.

Similarly, whether you work 40 hours at $60/h or 60 hours at $40/h, your pay is the same old $2400. It will also stay at $2400 if you start putting in 80 hour weeks after agreeing to a reduced $30/h rate to even get enough orders to fill that ambitious calendar with client work. But, it will also stay at $2400 if you take a modest 30 hours of work from your best-paying clients who are ready to pay $80/h.

In fact, should you for some reason completely lose control of your mental faculties and decide to work 120 out of all 168 hours in a calendar week at the cost of having to accept $20/h 'because you get so much work from us', then you'd still be making the same old $2400!

The difference lies in how much time you save — and I chose the example so that your pay always stays on the same level to show you this isn't about making more money, it's about meeting your income targets while limiting the destructive effect they may have on your non-client professional time, your family time and your personal time.

If you think you're too smart for that, analyse your past habits. You could be surprised.

Smart people still do silly things, such as cutting their rates to fill their calendars and make the same money as they did before, only working more hours. There are smart people who, right now, after reading all this, actually disagree and still think they're going to somehow make more money by doubling their work time and halving their rates.


So much time… or is it?

Now, if the perspective of 20 hours of client work a week makes you think: 'What am I going to do with all that time?,' then you might actually have a balance problem that goes beyond being overworked and underpaid in consequence of simply charging too little.

See, not only do your children, other family members and friends have a perfectly valid claim on your time, there are also a lot of professional activities that don't directly involve client work — from paperwork and marketing to continued professional development — and you need to handle them all, on your time. Not client time.

In other words, you spend more time working (as a translator, lawyer, designer, dentist, accountant or whatever else you are) than you spend working directly for your clients.

Apart from the importance of CPD and professional networking to your career, you should also consider motivation and health impact. It makes you more productive and helps you miss fewer days and avoid all sorts of incidents. Strokes, seizures and symptoms of caffeine overdose (if that's all you're taking) don't wait for deadlines. For the record, simple cramps caused by fretting over deadlines don't either.

Attitude adjustment:

No client will pay you so you can do CPD or go on a holiday. And why should one? Even if you work exclusively for big corporations, a client is not an employer or boss and has no such responsibility for you.

But a lot of clients will pay you higher rates because you've done CPD (because it makes you and your services more attractive). And a lot will pay rates that are a certain amount per hour (or word, page etc.) higher because you've decided your child needs a pony or you need a boat or your networking or pro bono activities are worth one full day a week. For the record some of these things are actually quite marketable — this means that they could be skillfully reflected on your website and in your other materials and help make you look more competent, more dedicated, more responsible or in some other way more attractive, helping you justify your fees.


Recap: your client is not your employer or career manager or anything of that sort. As a freelancer, solo practitioner, owner or co-owner, that's your role to play simply because it's part of being self-employed.

Apart from having to calculate it, this also means you need to actually ask the rate you want.

When you go to the doctor or call the plumber, you don't want to be responsible for figuring out what's fair pay. You want them to give you a quote and be done with it. It's the same when they need your services, whatever those are.

Don't go overboard — the way up doesn't always lead up

Optimizing your rates usually means increasing them. But this isn't always the case.

If you rates require a lot of talking or writing to clients who eventually decide against hiring you, then (apart from some room for improvement in your strategy) you are probably losing compared to a smoother scenario with lower rates but less hassle.

This is because not only does 40 hours at 60 per produce the same way as 60 hours at 40 per, your pay also stays the same whether you put 40 hours in actual work and 20 in getting that work or 20 in the work and 40 in getting it.

Suppose you go from (A) 60 hours a week at 40 per to (B) 40 hours at 60 per, but the transition isn't going smoothly.

Hence, out of every 20 hours saved (the pay stays at $2400) you need to give back 1, 2 or 4 because client acquisition takes more work. No big deal and pretty much a given with any price increase. You're still better off.

However, at only 1, 2 or 4 hours actually saved and the rest consumed by selling, chances are you'd better off gaining experience in your normal work, not sales.

But by chances I obviously don't mean certainty. Here are some caveats:
  • Sometimes clients haggle more because your rates are too low, not too high. This happens if your fees are low enough to position you in a highly saturated, highly competitive, bargain-obsessed segment of the market and invite time wasters who ignore anything that isn't discounted at least 33% below a realistic rate before they even start haggling.
  • The added hours in marketing and sales could be just an initial, up-front investment in perfecting your copy and adapting your approach, or a temporary setback such as delayed response.
  • There is more to experience than just the number of years — more challenging, more prestigious jobs that help put or keep your career on the right track can justify working less and selling more.
This all is why you need to monitor the changes. First get a hang of where you are right now. Take notes, analyse a little. Repeat the steps after the change. Give it some time. Compare the results. Adjust or go back as necessary. Don't give up too easily but don't hold on to ideas that don't work either.

Enjoy your new-found work-and-life balance achieved by giving yourself a raise.

Thursday, 18 August 2016

Don't Have Company Culture/Mission/Processes/Whatever? Generate It.

A while ago Marta wrote a post on her Business School blog asking readers' opinion on whether looking at your translation practice through a process perspective, as a solo practitioner, was a little over the top or still within the bonds.

The lazy conformist in me is inclined to say yes. However, intellectually, I know the answer is more along the lines of: 'why the heck not if that works for you?'

See, in matters that are not somehow moral in nature, it all comes down to whether something works for you or not. That's the pragmatic criterion and only one that really counts in such cases.

On the other hand, being pragmatic doesn't have to mean being a passive, defeatist, complaining lazy person.

Would you call Alexander the Great a dreamer? He had a dream, but… — You get my point.

I've also recently had a nice conversation with the young owner of a small construction company, whom I was mentoring a bit on some business and legal matters (he obviously knew how to do and manage his own work). We realized that being a freelancer was not that much different from running a small company.

With a bit of simplification, on some level it only came down to not having a couple of people to delegate some specific tasks to and then manage and supervise them and register them with the authorities for tax and insurance purposes.

… But picking up calls and dealing with stuff and soldiering on from one month to the next and hopefully landing nicer deals sometime as you grow was pretty much the same on a very basic level.

After eight paragraphs already this finally gets us to the main point: nobody says you can't have your own processes, even if you, yourself are the only person executing them, or your company culture or mission. Even if there is no company — for example because freelancers don't need to be sole-props in your country — there is a still a practice, like a doctor's or lawyer' practice, which is predicated on you being someone with some professional activity if not exactly a business. And that's practically the same for practical purposes.

So nobody says you can't write down a vision — and if someone does actually say that, you don't need to listen. Just go ahead and write it. Consider putting it on your own website. And, for the record, such ideas actually sell more easily than simple products or services. Products and services may be more practical, but it actually is easier to get people hooked on ideas or relate ideas than products or services. Watch this presentation from Marta — which is what made me start thinking about all these things several years ago — to see why.

Saturday, 19 March 2016

What You Can Do as No Longer a Newbie

Other than my own experience, I have no qualifications to give proper career advice. Actually, I'm looking at this rather through the perspective of character development in a roleplaying game — where you advance in your particular class, sometimes take an advanced class or 'prestige class', depending on the particulars of the system you're using, you pick up additional feats or talents or whatever they are called.

So, imagine you've taken a couple of levels as Translator. Let's say you're a level 3, level 5 or level 7 translator now, no longer a freshly created level 1 character. You're at the stage where back in the middle ages it would be high time to get you knighted (back when it wasn't an accolade for grey-haired professors, businessmen and singers but a right of passage for warriors from 'good' families) or inducted as full member of some sort of guild. Modern translators' associations are still much like guilds, with full membership or associate membership or special membership: senior, expert and so on.

In a roleplaying game, the requirements for each such accolade tend to be easily visible as a tooltip when you hover the mouse cursor over something that's greyed out for now, but you generally have a sense of direction — you know what you can plan for.

Similarly, prerequisites for all sorts of university programmes, certifications, association memberships, official accreditations and so on are usually public knowledge, available to everybody in full detail. This means that here too you can certainly plan for them in advance, long before you actually meet the requirements, but obviously you'll need to do some checking and some planning beforehand.

In some situations in a game you also end up with a bunch of saved-up 'points' that you didn't really know how to spend immediately when you earned them, so rather than spending them randomly you decided to keep playing and worry about this character stuff later. Let's pretend this is more or less the situation you're at now, or perhaps you're just stealing a furtive glance at whatever options are going to become available to you when you've done a little more progress. Or just looking around tentatively before you commit.

A single level-up is, of course, rarely a huge life-changing event for a game character, but characters that have some direction in their development tend to be more efficient. For a single level chances are the difference doesn't matter much, but if you take several of the right feats, skills or talents (or whatever they are called) from the right 'chain', then you can do more damage with your weapon faster or cast better spells faster, more powerfully, compared to the results you get when you just wing it as you go.

So, once you've hit level 5 or 7 or 9, you're not yet an epic paladin or Gandalf-level wizard, but it's high time you thought about landing some of those neat advanced options that have opened up in the meantime, as opposed to simply watching your weapon or spell damage grow steadily by something like 0.5-2 points a level.

For starters, you may want to stop being a generic '(dear) linguist' and instead commit to an advanced 'character class' such as specialist translator or conference interpreter. Or project manager or language consultant, if that's where your path leads or what your skillset makes you better-suited for.

This is really similar to how 'champion' has a better ring to it than 'fighter' and 'archmage' just plain sounds better than 'mage'. Some of those are a simple matter of choosing various available paths of progress, others are more situational and reflect whatever you've been doing so far, sometimes by random chance. For example you can't really be a master archer if you've only ever stabbed people with swords. You can't be a 'Keeper of the Grove' if you've never been near a grove. Simple, isn't it?

So, here are a couple of things you can do (and choices you have to make):

  • Commit to a narrower specialization (e.g. pharma interpreting, legal proofreading) for good or just gain some advanced qualifications to open new paths, to enable you to do some things you couldn't do before. This is more like branching off into something different but complementary.
  • Upgrade your B.A. to M.A. or M.A. to advanced master's or Ph.D. for something more akin to vertical, hierarchical progress, Or add one more bachelor's but this time in your translation subject, not translation itself, to become dually qualified. Or a degree in translation or languages if you came from a different field and want to establish your credentials as a proper linguist as well. In any case, making progress with degrees and other such scalable formal qualifications will solidify your knowledge and also give you more gravitas.
  • Get licensed to practice in your subject field, as a variation on the two points above. You won't really be practicing, but it will put you more on level with practitioners. Doing so will open some doors, give you access to some resources and equipment, and more sway in certain circles where you'd like to be listened to.
  • Translation-related certifications are similar to the two or three above.
  • However, you can also opt for writer-specific rather than translator-specific qualifications. This is especially important in fields and applications that don't call for literal translation, such as marketing marketing, or fields where translation needs to be very faithful and at the same time aesthetically appealing, persuasive, such as law, where most translation needs to be precise and appealing, meaning the skill bar for literal translation is set higher.
  • Add an element of strategy or management to make your translation potentially more goal-conscious and more efficient at communication, more adaptable to the needs of the task at hand. This might actually come in handy on the subject side, too, if you're a business translator. Isn't everybody, at least to the extent business is done in whatever field one translates in?
  • Similarly, qualifying as a copywriter would primarily improve your marketing translation but also all sorts of business translation, then anything really that needs to be at least somewhat convincing or appealing, and finally your own self-made copy. You might be able to pick pure copywriting jobs on the side and benefit from your translation experience while doing them, if that's what you want, but you'd better be able to make an informed decision about your focus, as pursuing two paths at the same time always comes at a price.
  • Adapt to your unique setting. You won't get the year or two — or however much time it takes — of your life back, they may be lost if you fall out with the existing top clients you're doing this for, but within that narrow niche the rewards will be high. For example an 'elf friend' is good with the elves but pretty useless when the elves depart, unless he requalifies as storyteller or sets out on an epic search himself. ;) You'll become the natural go-to guy for trouble, or else the everyday handler of their relevant business, whichever floats your boat and theirs. It's kinda one boat now, which is essentially the whole point.
  • Just keep adding more languages or fields. But you'll need to decide between dabbling in all types of melee weapons or schools of magic known to man and becoming good at two or three of them or really, really good at just one. More versatility is not always found in being a jack of all trades and master of none, because sometimes advanced abilities within your own core skillset eventually fill the gaps better. For example it might be cool to have access to a fighter's choice of weapons and armour for your rogue, but the delay in developing your core skills is going to haunt you; you will be perhaps not four or five steps behind but just that one step which sometimes matters, such as that one chest of epic loot you fail to open just barely, or the one final trap that kills you. As mage, you're mostly better off shooting 'fire arrows' from your mage staff expertly than shooting real arrows from a real bow clumsily. As fighter, you may be tempted to gain some of the skills of a rogue with traps and locks, but time taken off your combat training will make you at least a marginally less effective tank or damage dealer where such margins matter. You really need an element of linear progress, not just odds and ends you pick up here or there..
  • Learn more tools, buy more CAT and other editing software to expand your reach in so far as it depends on meeting such requirements. Doing so gives you breadth; you can now accept more quests. In some situations it can also help you become more self-sufficient, which gives you depth and independence. See above, though. And remember that spending your money on equipment prevents you from being able to spend it on training, so choose wisely.
  • Join associations. They are like guilds. A guild typically has more resources and more pull than a single fighter or mage. That's the point of being in a guild. A guild sometimes hands out quests and rewards you for longevity. Don't count on a dividend, but seniority has its perks. You can also learn management, socialize, give back to the community, chill with your pals, trade loot and stories, and do a couple of other things. And occasionally free beer. What's not to like?

Remember you can't do it all in a single lifetime, and if you try to catch too many birds chances are all will slip. You'll need to make choices — and it helps to know what you're doing. But above all you need a sense of progress and at least a vague idea of what you want to do with your life as you level up.

Monday, 1 February 2016

5 Factors Other Than Rates That Affect Your Profit on a Project

We focus on rates quite often and for good reason, as despite what some people insist on claiming rates are going downhill, and despite what others might claim (or just not care about) the current level of financial demands from agencies and business clients is not realistic or sustainable, but this doesn't mean we have an excuse to get lazy and stop at that. There is much more to how much you make than the rate you charge:


  1. Difficulty. And if you've been around for a while, you probably know how it is: 80% more bother will generate 20% more pay. But what you possibly haven't seriously reflected on yet is that taking only a 20% pay increase while putting in 80% more time sets you back, actually.

    How?

    Suppose the starting position is that you have 10,000 words to do at $0.10 per, translated at about 500 words per hour. You will make 1000 dollars in 20 hours. This means you will be making $50 per hour.

    Are you still with me? If you take another 10,000 words at $0.12 (+20%) with 80% more time, that ain't gonna be no goldmine. You will have to commit 36 hours instead of 2 hours of your time. $1200 divided by 36 hours makes $33.33 per hour. This means you're 33% down.

    Eyes wide open already? I can make them even wider (make sure they don't fall out, you're going to need them unless you're unlike me and actually like interpreting :P):

    You would actually be better off for taking an actual pay cut but translating easier stuff. Let's hypothetically take a 20% pay cut (not that you should, in real life) but save 80% of our time: we are going to make $800 from 10,000 words at 0.08 per, but we'll have waded through them in 4 hours. Which is almost totally impossible, but we're running huge numbers here to show you, on such extremes, how far the differences could potentially go, based on time required for the task at hand. $800 in 4 hours makes $200 per hour. Compare to $33... yikes!

    But let's leave Pareto (a.k.a. the 80-20 rule, typically used for such theoretical illustrations) alone and take more conservative numbers, which are, however, going to be a bit more difficult to calculate (no round numbers that are easy to handle any more).

    So, suppose you translate 350 words per hour at 0.10 per. This means you make $35 per hour (before tax, expenses etc.). Suppose your agency or client agrees to a 10% surcharge but you need to invest 50% more time, and I can tell you this is a very realistic scenario. This means you'll need 1.5 hours to translate those 350 words now, at 0.11 per. You will only be able to complete 2/3 of the normal workload within 1 hour, which is 233 words. Rounded up, you will be making $26 per hour. Which means you're down one quarter, despite your nominal raise.

    By contrast, imagine taking that 10% pay cut, so that you make 0.09 per word, but your text is easier and you can translate 50% faster, which means 525 words per hour. That will mean $47 per hour. Compare that $47 to your standard $35 and especially to your 'premium' $26 per hour.

    If you've ever wondered how come highly qualified translators with unique skills who translate serious stuff somehow don't always seem to be making a lot of money, here is your answer. It also explain how come some rookies or less ambitious translators can be quite affluent compared to their higher-charging peers.

    And that is simply because translation price doesn't go up in direct proportion to time needed to translate. This cost is simply mitigated on the client's side and shouldered by the translator, the way things are right now.
  2. Additional tasks and requirements — included in the PO or job sepcification — compared to 'just translating'. Convert some files, run through a checklist, consult with the client's huge database, verify the HTML while localizing, whatever. The principle is the same: it all soaks up your time with much more celerity than it increases your rates. And you know what that means — you're making less per hour, aren't you? Times 140, 160, 180 or 300, it also means you're making less per month. And times 1500, 2000 or 3000, it also means you're making less p.a. Bottom line: you're making less, even if you theoretically get a small raise or some form of additional payment, especially at cheaper rates than what you get for translation.
  3. How helpful your client or agency is. Can you just call and ask or do you have to dig through 1000 pages of reference material to translate 10 pages of text? This translates directly into more unpaid time or less. I think there's a chance that the example you've seen under #1 already makes you suspect that after you do the numbers the difference is going to turn out quite surprisingly large. If so, you are correct.
  4. QA procedures and client input. This really belongs in #2, but it's worth bringing up separately because of how much difference it can make. Processing a long list of questions or proposals is always going to take a lot of time even when they are competent. Much of the time they are not. In a lot of cases you end up explaining the rules to the client's or the agency's QA department… or the junior secretary or intern who was tasked with reviewing your super duper mega extra important translation. And this is before they start arguing… In the end result, your work time can be doubled or tripled for no raise at all, often with the expectation of getting a rebate after going through all the trouble.
  5. CAT vs non-CAT. CAT analysis can shave several percent off of just about any business, technical or legal text. Say, 5% less in the adjusted/effective/weighted wordcount is not the same as 5% off from your usual rates, but it has the same effect on your pay. If your pay is calculated as wordcount * rate, then — just as in any multiplication — reducing either number by 5% will reduce the end result by 5% too. 1000 words at 9.5 cents per or 950 words at 10 cents per, it still  makes 95 dollars either way.

    Just to clarify, I'm not raising the banner against adjusted wordcounts and fuzzy grids here. I'm simply saying that just as an agency or client can say: 'We're going to be treating these 1000 words as 950 because we think that's how much work you really do for us,' so can you say: 'I'm going to be treating your 0.10 per word as 0.095 because I think that's how much you really pay me.'

    There is nothing unfair in this, as long as you're honest in assessing how much your income hit exceeds the usefulness of fuzzies and repetitions. This is not telling the client what to do or not to do, it simply means that you're going to see some 0.10 offers as 0.095 offers internally. Being conscious of how much you really are offered or paid is not the same as being cheeky or uncooperative.

These are all short-term factors that can apply to specific projects, even one-off projects for one-off clients, even though, naturally, you can benefit from whatever information you have about the client's habits or your relationship (such as the probability of consuming your time with inquiries and change requests). Here's a long-term factor:

  • Your relationship with the PM, the agency, the client etc. For the purposes of solely its influence on your income, we can look at it from two perspectives:
  1. What's in it for you other than the rate, in a long-term perspective. Apart from all of #1–5 from the previous list, part of the relationship is how much work you get, how much effort and time it costs you to get that work, how much time you lose unproductively, for any reason whatsoever, not just their feelings about the rate. There is also the non-financial factor of simply your work comfort, and that is something of which the importance cannot be underestimated. It affects your mental peace, and your health, and even your productivity, in fact. Higher rates don't always lead to more money, or more work comfort.
  2. The impact of your rates, specifically, on the relationship, in the long term. Or, more precisely, the impact of their feelings about your rates — and the resulting pressure — on their behaviour in the relationship. In plain words, this means how eager they are going to be to work with you, how far motivated to choose you despite a higher rate than someone else is charging, or to get out of their way to help you, or the opposite: to want to cash in on all sorts of available requests and call in all available favours since they're already (over-)paying you so much and flexing their business muscle so much simply, solely by just paying your rate.
Last but not least, in a 'macro' view, your rates affect how much work you get from all clients and agencies. I always keep insisting and reminding people how higher rates can make up for less turnover, notably far less than a full calendar of paid work. And time is important for your family, for your own mental and physical health, for CPD, for your other interests, and probably a couple of other things you could think about, including marketing. But it if you take it too far, you just might have more free time than you'd wish for. ;)

Besides, it's not like we have an ethical obligation to maximize our rates. We actually have an obligation not to overcharge — pretty much like everybody else, and it ultimately comes down to thou shalt not steal. Getting our rates back to a level where most of us can support an upper-middle-class income for a highly qualified and hard-working translator who is not a rock star and not below middle-middle for the rookies is one thing, but at the end of the day outright overcharging is fraud, especially in the context of working with clients who don't (yet) have the knowledge to make an informed decision.

Also please note I'm talking about B2B here, mostly. It's one thing to charge, for example, several hundred dollars for an hour of your time in connection with a profitable business deal, another to charge the same for a medical translation needed by someone who's already broke. Or just something for a visa. Or whatever. I'm not advocating the latter, by any means. This post should not be read as advocating a hard line in B2C with individuals who need a certificate or a CV.

Saturday, 19 December 2015

Remember To Update Your Rates!

If you go to work like everysalariedbody else, you get a raise. Or you don't. But there's a pay scale and a rank table, so you more or less know where you are and where you are headed. As a freelancer, you don't. But that doesn't mean you're forever stuck being a junior.

So don't forget to make your rates — and preferably also your presentation (business cards, website, brochures, online profiles) — reflect the natural progress of your skill and reputation.

If you agree with me at this point, you might as well finish reading here. If you aren't sure, stay on.


Q: But I work so closely with them. I get feedback on all of my translations. I'm required to be available on the phone, sometimes 24/7. I go beyond just translating and always keep their business goals in mind. I know them inside out. I'm a veteran. I'm more of an insider than any new meat with a salaried position. I'm an employee in all but name.

A: Nope, that's not the only difference, You aren't on their promotion track simply because you aren't part of the organization, no matter how closely you collaborate. You can't get promoted if you don't have a rank to begin with. Same goes for a raise.


No, it's not unfair to 'renegotiate'. It would be if you had a fixed-term contract with guaranteed fixed rates, then it would be unfair and illegal to push for a change without their consent. Or a large raise half a year into a long-term (indefinite) contract, that could be bait and switch. But to expect to always pay the same fees the same service would not be reasonable.

Oh sure, some of them will act surprised or hurt or wronged or whatever, but do you expect bread to cost exactly the same day after day for 10 years? Or electricity? Or whatever newspaper you read?

But it's not just inflation.

Remember that while you never get a formal promotion, that's simply because there is nobody to give you one, and hence there isn't any formal process for it, either. But that doesn't mean you don't deserve a raise, and not just because of longevity.

Unlike what agencies may think, career progress is about making more than you did last year or five years ago, not about creating an irresistible price deal for your clients and embracing poverty while translating multi-million-dollar contracts and presentations.

Tuesday, 2 June 2015

Translation Is Worth Charging For!

Dear Reader, what I'm saying to you tonight is at variance with what most translation speakers and writers and gurus say — all of them more experienced, more economically knowledgeable and economically and professionally successful than I am. You have more reason to listen to them than to me. But I still say it. I can't not say it:

Translation is the core value of what you do, the service you provide to your clients. Don't advertise and build your brand and USP on 'more than translation'. Don't justify your prices with additional services or added value.

If your value proposal and your proposal in general is based on additional services or added value, you are sending the message that your core value and core services are not valuable, not worth charging for.

By contrast, translation is a prestigious professional service.

Saturday, 20 September 2014

Don't Outsource, Raise Your Fees

(The inspiration for writing this came from seeing a snapshot from Gary Smith's IAPTI presentation at Rose Newell's Twitter, but I've dealt with the subject before on this blog.)

In a limited, narrow perspective, it may seem to you that in taking jobs from clients and handing them out to your colleagues in exchange for a cut (e.g. 20%) you're helping them fill their calendars and make a living. And that's not quite wrong, actually.

On the other hand, for all the freelancing ups and downs, there is still a natural path of progress. Your job title may never change, but you gain experience levels just like your old WoW character. You move up. Others fill the place you left.

When you outsource, you don't move up, and others don't fill your place. You're stuck where you are, and others are stuck as your invisible henchmen instead of advancing their own careers.

Either do it right — and start a translation company (in which you can still translate if you want to) — or move up and free up your previous place for others.

It won't necessarily be your designated pals who get the free spot if you just simply raise your rates, but in the broader perspective the market will come to realize that the most wanted translators are an asset to compete for and reward fittingly.

The increased price and publicity will take care of the selection process on both sides: yours and the clients'. Yes, some prospects will no longer be able to afford your services. However, they can still choose from among your many colleagues who may very well be up to the task, not even necessarily being worse translators than you are but perhaps less successful economically.

With the emergence of a visible, easily distinguishable echelon of the most wanted translators, clients who have the resources but can't or don't want to gamble or experiment would know where to go and wouldn't need to burn their fingers cycling through one million seemingly identical but randomly qualified translators or rely on intermediaries to fish in a flat pool of all skill levels mixed up.

Nor will translation buyers continue to believe that for a measly six or twelve or twenty cents per word they deserve world-class quality generated by the unique combination of rare personal talent, many years of dedicated study, rich and varied or close and focused long-term experience and — in some cases — overall brilliance.

If you want to make more money, start an official agency and command fees in the proper agency range. Or change a separate management fee above the counter. Or take normal editing jobs that may well pay better than a 10% cut for editing your sidekicks. Or, well, just raise your rates already and either make more in the same time or make the same in less time.

If you want to help your sidekicks, you'll help them more by introducing them as your designated successors to the clients you leave behind than by signing their work at 50-80% of your old fees. They will be making more and building their own name.

Even the client will benefit from being directly in touch now with the person who's de facto been doing that client's jobs for a while.

Related articles:
Freelance Outsourcing: Make it (Semi-)Official or Don't Do It (longer treatment of the same subject)
Don't Flatten the Quality Scale (we should quit pretending that only the best is ever adequate in terms of translation quality — this includes handing clients down to less established but still adequate colleagues according to what a client is ready to pay)


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