Comments on: How not to panic about the economy

By: I am a

I am a — Thu, 05 Apr 2012 16:25:32 +0000

Only a smiling visitant here to share the love (:, btw outstanding style and design.

By: Jon @ ALTA

Jon @ ALTA — Fri, 10 Oct 2008 15:05:00 +0000

We're looking on the bright side too! Great article!

By: Cortez

Cortez — Fri, 03 Oct 2008 16:27:05 +0000

That’s exactly what I’m doing, diversify the activities makes me forget my concern…

By: Corinne McKay

Corinne McKay — Thu, 02 Oct 2008 18:48:44 +0000

@Judy, you’re exactly right that the outlook depends a lot on your specializations. If you do a lot of work for a client or an industry that can potentially cut costs by eliminating or cutting back on translation, it’s a good time to spiff up your resume. Here in Colorado I am betting that the ski industry, as you commented about Vegas, is not recession-proof, and that it too will be cutting back on things like non-English marketing.

@MT, thanks for pulling everyone off the ledge I think you’re right that for people who are feeling nervous, the best marketing prospects are clients in countries where the dollar’s value is steadily sinking; and you’re right, for those people, we’re really cheap!

By: MT

MT — Thu, 02 Oct 2008 17:32:09 +0000

This is very sage and needed advice: panic is the last thing a freelancer can afford. You really do just have to keep cool and keep taking advantage of work-free days the same as if work were pouring in.

The fact is, as an American translator, the weak dollar is our friend since it makes American translators VERY affordable to industries and agencies abroad. Leverage this fact. Consider this: if you charge $0.12 per word, that is only 0.08 euros, $0.12 (CAD), and 12 yen (as of today). I mean, wow–what a bargain we are!

By: Judy Jenner

Judy Jenner — Thu, 02 Oct 2008 05:59:02 +0000

Very great point about diversifying — I have also talked with many fellow translators about that. Doing some freelance writing if one has experience in that area also is a great additional source of income, although oftentimes not very highly paid.

Of course, at this point in this bleak economic week, we are all a bit nervous about the economy and about how it will affect us. Time will tell — but I do have a feeling that some sectors are more recession proof than others in terms of translation. I totally agree with you, Corinne, and think that some industries (travel, tourism, perhaps luxury items) will probably see decreases in their desire/need to outsource any work that isn’t survival-related. Of course, if you are a German airline trying to break into flights from/to Spain, translation is survival-related, but that might be an exception. Here in Vegas, I am afraid that many casino operators will put their Hispanic marketing strategies on the back burner, which won’t be good for the Spanish translators in the state. Ergo, good advice on diversifying!

For the record, here in Las Vegas we have now come to the realization, despite many speculations to the contrary, that our beautiful city and its economy are not recession proof. It’s no surprise that people are traveling less.