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| Home > Startup > Home Business Ideas > Translation Agency | |
All-round Translations First of all, what is meant, in this particular context, by the term
all-round? Basically, it refers to the scope of your product. As a freelancer
your output would be confined to your own language combination and degree of
specialisation; as an agency owner you will be able to supply your clients with
translations across a whole range of source and target languages and disciplines,
including commercial, technical, medical and legal documents. In theory, your range would
be limited only by the number of staff you would be prepare to contract. If you want to establish your own translation company, you would be well advised to
find a competent partner first unless you are willing to hire staff right from the
start (which, in most cases, is not a recommendable procedure). Ideally, your business
partner should be a person whose qualities are complementary to your own, if only because
in such cases the division of tasks is usually quite obvious (and a potential source of
conflict is removed). There are good reasons to separate responsibility for product
quality (i.e., the quality of the translations) from organisational responsibilities
(order processing, account management, etc.). These two roles do not go together very well
in practice, and the associated skills are not usually combined within one and the same
person anyway. Once you have gathered all the information you need, you should draw up a Business
Plan. Examples of such plans are available at your local Chamber of Commerce, or can be
downloaded (for a fee) from the Internet. These specimen copies are structured in such a
way that they will assist you in each step of your own Business Plan. One of the main
advantages of having a reliable Business Plan is that it will present you with a realistic
estimate of the money you will need to get your agency off the ground. If your capital
requirements exceed your private budget (and it is quite likely that they will), you will
have to present a thorough Business Plan to the bank in order to persuade them that your
plans will pay off. The main asset of any translation agency is obviously its network of reliable
translators. Incidentally, you need not be a networking freak to build up such a freelance
network. Many freelancers will present themselves to you spontaneously as soon as they get
wind of your existence; alternatively, you can actively recruit them and check out CVs on
a variety of collective freelance websites, such as Translators Café or GoTranslators.
The snag is that you will be hard put to appraise a freelancers skills if you do not
master the language concerned. CV assessment is important, but by no means sufficient: you
will need to be able to judge the quality of a freelancers actual output before
entrusting him or her to your clients! Your freelance translators are obviously your most important suppliers, but the supply
network comprises other parties as well that will need to be carefully selected as you
will need to use their services on an ongoing basis. These include the bank, the
accountant, the printer and the graphic designer. Once the internal set-up of your agency is in place, your first priority should be to
recruit clients in a systematic manner. For many start-ups in the translation business,
this is the most difficult hurdle. Obviously there is a multitude of strategies that can
help you attract clients in the business-to-business segment (which accounts for most of
the turnover of any self-sufficient translation agency). One very helpful tool, if used
correctly, is Direct Marketing. In principle, two different Direct Marketing strategies
are available: Fester Leenstra is co-owner of Metamorfose Vertalingen, a translation agency in Utrecht
(The Netherlands). After having worked for several translation firms in paid employment,
he took the plunge in 2004 and incorporated his own company. Do you know someone who would benefit from this article? We can send your friend a strictly confidential, one-time email telling them about this article. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!
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