Comments on: Diversifying your income stream http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/ ...the translation industry and becoming a translator Wed, 28 Jul 2010 18:30:00 +0000 hourly 1 http://wordpress.com/ By: Blogging for Translators | Blogging with Beth http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-2833 Blogging for Translators | Blogging with Beth Mon, 01 Feb 2010 05:46:34 +0000 http://thoughtsontranslation.com/?p=513#comment-2833 [...] terrific conversations, which you can read in the comment section of each post.  This article on Diversifying your Income Stream received 17 [...] [...] terrific conversations, which you can read in the comment section of each post.  This article on Diversifying your Income Stream received 17 [...]

]]> By: Therateisright http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1519 Therateisright Thu, 14 May 2009 08:37:58 +0000 http://thoughtsontranslation.com/?p=513#comment-1519 Kevin, For ongoing business, it holds true that you can even charge a markup for the quality stuff. For someone starting out, 'recession' is more of an abstract terms being used to negotiate lower. Kevin,

For ongoing business, it holds true that you can even charge a markup for the quality stuff. For someone starting out, ‘recession’ is more of an abstract terms being used to negotiate lower.

]]> By: Kevin Lossner http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1490 Kevin Lossner Thu, 07 May 2009 13:05:14 +0000 http://thoughtsontranslation.com/?p=513#comment-1490 > TheRateIsRight said: > However, in times of recession it is even > more pertinent to make sure that you are > actually getting the right rates for freelance > translation jobs. Not sure I follow you there. I suppose this is an indirect advertisement. The recession has actually made it easier to increase rates up to now. I am somewhat reluctant to do so with older customers (agencies) who are having a hard time for sentimental reasons, but I have found that the new ones inquiring are quite open to substantial increases. End customers seem to be particularly focused on quality now as a means of survival. So the higher-end market is doing well in the major language markets, while others seem to be getting squeezed occasionally. > TheRateIsRight said:
> However, in times of recession it is even
> more pertinent to make sure that you are
> actually getting the right rates for freelance
> translation jobs.

Not sure I follow you there. I suppose this is an indirect advertisement.

The recession has actually made it easier to increase rates up to now. I am somewhat reluctant to do so with older customers (agencies) who are having a hard time for sentimental reasons, but I have found that the new ones inquiring are quite open to substantial increases. End customers seem to be particularly focused on quality now as a means of survival. So the higher-end market is doing well in the major language markets, while others seem to be getting squeezed occasionally.

]]> By: TheRateIsRight http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1488 TheRateIsRight Thu, 07 May 2009 12:23:56 +0000 http://thoughtsontranslation.com/?p=513#comment-1488 Well, diversification is a good idea. However, in times of recession it is even more pertinent to make sure that you are actually getting the right rates for freelance translation jobs. But, I liked the idea and have already begun using my Canon to build a portfolio of pictures. Well, diversification is a good idea. However, in times of recession it is even more pertinent to make sure that you are actually getting the right rates for freelance translation jobs.

But, I liked the idea and have already begun using my Canon to build a portfolio of pictures.

]]> By: Patricia Lane http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1427 Patricia Lane Tue, 21 Apr 2009 13:14:46 +0000 http://thoughtsontranslation.com/?p=513#comment-1427 Generally, I'd agree with Andreas and Kevin and advocate focusing on one's core business, expertise, and enhancing outreach. Diversifying your income stream by leveraging other talents and/or passions (photography is one of mine) can be rewarding, but the possibility of doing so with ease depends on where one lives. In France, for example, regulations are tight. Depending on the type of work a freelancer does to earn revenue, he or she may well have to sign up with and pay social contributions to several different agencies ("caisses sociales"), keep very precise books to track income and allocate expenses proportionate to each source of income, and file different types of tax returns. Appealing, isn't it? Those who work as commercial and literary translators already juggle between two very different sets of agencies and rules (and pull their hair out 'round about March-April). Imagine adding graphic design, web programming, and photography... When several people thought I should leverage my love of photography, I looked into the details and concluded I did not need the headache! So I make some of my images available to clients and friends as e-cards on an unreferenced part of my website. Makes everyone happy, and that is sometimes payment enough. Jill -- if you put together a WinAlign/Abbye service offer, let me know :) Generally, I’d agree with Andreas and Kevin and advocate focusing on one’s core business, expertise, and enhancing outreach.

Diversifying your income stream by leveraging other talents and/or passions (photography is one of mine) can be rewarding, but the possibility of doing so with ease depends on where one lives.

In France, for example, regulations are tight. Depending on the type of work a freelancer does to earn revenue, he or she may well have to sign up with and pay social contributions to several different agencies (“caisses sociales”), keep very precise books to track income and allocate expenses proportionate to each source of income, and file different types of tax returns. Appealing, isn’t it?

Those who work as commercial and literary translators already juggle between two very different sets of agencies and rules (and pull their hair out ’round about March-April). Imagine adding graphic design, web programming, and photography…

When several people thought I should leverage my love of photography, I looked into the details and concluded I did not need the headache! So I make some of my images available to clients and friends as e-cards on an unreferenced part of my website. Makes everyone happy, and that is sometimes payment enough.

Jill — if you put together a WinAlign/Abbye service offer, let me know :)

]]> By: MT http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1424 MT Mon, 20 Apr 2009 21:46:59 +0000 http://thoughtsontranslation.com/?p=513#comment-1424 Great post, great comments. Great post, great comments.

]]> By: Transtextuel http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1418 Transtextuel Fri, 17 Apr 2009 21:24:18 +0000 http://thoughtsontranslation.com/?p=513#comment-1418 Hello, Thanks for sharing. I've had similar thoughts (in Fr) about writing for translators. Why they are able to do it and a few ideas about how to do it. Feel free to visit my article : http://transtextuel.wordpress.com/2009/03/27/traducteur-redacteur-internet/ Hello,

Thanks for sharing. I’ve had similar thoughts (in Fr) about writing for translators. Why they are able to do it and a few ideas about how to do it.
Feel free to visit my article : http://transtextuel.wordpress.com/2009/03/27/traducteur-redacteur-internet/

]]> By: Kevin Lossner http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1416 Kevin Lossner Thu, 16 Apr 2009 06:43:35 +0000 http://thoughtsontranslation.com/?p=513#comment-1416 Thanks for mentioning the Smart Passive Income blog, Corinne. Pat's ten-part post on the process he went through for the publication of his e-book is very useful reading. I've been planning to publish some advice on the use and integration of translation tools, and there are a lot of very helpful tips here. Thanks for mentioning the Smart Passive Income blog, Corinne. Pat’s ten-part post on the process he went through for the publication of his e-book is very useful reading. I’ve been planning to publish some advice on the use and integration of translation tools, and there are a lot of very helpful tips here.

]]> By: Karen Tkaczyk http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1415 Karen Tkaczyk Thu, 16 Apr 2009 03:00:52 +0000 http://thoughtsontranslation.com/?p=513#comment-1415 My approach when volume was down in January was to plan extra training, marketing, article-writing and presenting. So not diversification, but focus on outreach/visibility and improving my core strengths. Then volume picked up again and now I have to make time for these extra planned commitments! My core specialization is rare enough (and I'm well-established enough) that I always think to building it up rather than diversifying. My advice to others would be to attend training in their specialty (or to get a new one!). By the way, I'm really surprised you don't use Abbyy Finereader (or another OCR solution)! I use it almost daily! Saves me sooooo much time. Karen My approach when volume was down in January was to plan extra training, marketing, article-writing and presenting. So not diversification, but focus on outreach/visibility and improving my core strengths. Then volume picked up again and now I have to make time for these extra planned commitments!
My core specialization is rare enough (and I’m well-established enough) that I always think to building it up rather than diversifying.
My advice to others would be to attend training in their specialty (or to get a new one!).
By the way, I’m really surprised you don’t use Abbyy Finereader (or another OCR solution)! I use it almost daily! Saves me sooooo much time.
Karen

]]> By: Victoriya http://thoughtsontranslation.com/2009/04/13/diversifying-your-income-stream/#comment-1412 Victoriya Wed, 15 Apr 2009 12:10:50 +0000 http://thoughtsontranslation.com/?p=513#comment-1412 Really cool ideas! ^) Really cool ideas! ^)

]]>