You Can be Somebody
Have you ever dreamed of managing your own business? Have you ever thought that you can grow from just a mere Freelancer into something as large as a Translation Company? Do you think of yourself as of a lay person who can only do right and well for somebody else or can you dare to think that you can do something more considerable in your life?
Most probably you have thought about it for multitudes of times. Perhaps you made some efforts in the past to become someone but miserably failed or advanced but little. May be you made some small steps or big strides in that direction but not sure now what to do next?
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Here is a little story with a real life case representing not a dry instruction of which there are thousands but a natural and real story of how a freelancer became an owner of agile Translation Agency.
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How it Starts
Once upon a time there a was a freelancer who never ever dreamed of becoming a company. He was just getting requests from translation agencies based in India and other third world countries. He was paid just 0.02 USD per source word. One of the first company that he worked for was Shakti Enterprise which paid him his first bucks. The freelancer worked for this company for a year or so. The payments were regular but within 20 to 30 days after the Invoice submission.
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Note: Normally the companies providing TRANSLATION pay their translators or freelancers within 30 to 45 to 60 days after the Invoice submission. It is conditioned by either local state regulations and legislation or by the legal entity status that the company was created on. There is also another circumstance that can affect the terms of payment – payment system used by the company or banks that have their own terms and conditions. So the company takes all precautions to have a back-up in case of any contingency like translator failure to translate a document.
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About the Rates
As the time went by our freelancer started to look for other agencies to work with. The next country where he found his employers was the United Kingdom. This country as many other EU countries running a lot of international business is abounding in all kinds of translation companies.
Having gained the experience in translation of technical text, especially in Oil and Gas, IT, Telecom, Engineering, our linguist raised his rate up to 0.03 Euros and a bit later, when he started to work for English translation agencies, he raised it even more – up to 0.045 Euros per source word.
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After a while he found some good companies in UK, among which were Global Voices, Lingo24, Applied Languages, Russian London and other agencies.
The rate went up to 0.05 Euros per source word but the requests increased even more. Sometimes he was receiving two or three requests at a time. Due to the frequency of coming orders and the shortage of time left for each project the linguist in question had to make something up.
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When You Get More Requests
Being overwhelmed with a number of requets per day he had just to decline the projects. But after a little thinking over he realised that he was loosing all those clients and he changed his mind. He stopped declining the projects but began asking his friends and fellow mates in translation to help him for a fair price.
Thus he kind of hired them for a part-time job in his projects.
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Jump to a Company
After a while he quickly realised that it was not actually that difficult to manage the projects. When the orders began to come in multitudes he created his own website and published it online. So, along with the requests from translation agencies he began to receive orders from direct clients. And that’s where the real business started.
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Make Your Business Legitimate
To make his business official he opened the LLC company and started-off with a handful of translators from among his friends.
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You can do even Better!
To make the story short, within a couple of years he hired about 50 more translators of different languages, contracted smaller or partnering translation teams and companies and continued his translation business in a sustainable manner.
So, if one single freelancer could evolve into something like a translation agency, you could probably do the same and may be even in a more beneficial and prosperous way! Just try and you will succeed!