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THOUGHTS ON FREELANCE TRANSLATION: INTERNAL AFFAIRS.

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Presentation on theme: "THOUGHTS ON FREELANCE TRANSLATION: INTERNAL AFFAIRS."— Presentation transcript:

1 THOUGHTS ON FREELANCE TRANSLATION: INTERNAL AFFAIRS

2 KONSTANTINOS STARDELIS MEDICAL TRANSLATOR - ENGLISH TO GREEK MASTER’S IN HEALTH SCIENCES OWNER OF GREEK TRANSLATOR SPECIALIZED IN RARE DISEASES

3 Entering the Market No Clue Where to Start From Intimidated by Clients Faced With Reality of Having to Be a: - Translator - Marketing Specialist - PR Expert - Accountant - Willing to Struggle for a Living Common Misconceptions

4 Entering the Market Afraid of Saying “No” Afraid of Asking Too Much Afraid of not Making Enough Afraid of Losing Clients Afraid of Not Having What it Takes Afraid of Being Afraid Afraid of Being Afraid of Being Afraid

5 Basic Questions What is an Acceptable Rate for Specialized Translation Services? How do I Find the Best Clients? What are the Differences Between Direct Clients and Translation Agencies?

6 The Market: Belief Prices Keep Falling Clients Spend Less and Demand More Most Clients Care Only About Getting the Job Done Agencies Have to Cut Down Costs It’s Hard to Find Work Nowadays We Need to Race to the Bottom Any Work is Better than No Work

7 The Market: Reality Prices Keep Rising Clients Spend Equal or Greater Amounts Most Clients Don’t Know What They’re Buying Agencies Increase Their Profit Margins There’s Enough Work for Everyone We Set Our Minimum and Maximum Rates Better to Not Work Than to Sacrifice Integrity

8 Supply vs. Demand Enterprise Information is Increasing, so is Work for Translators The Supply of Translators is Shrinking Translation Productivity Cannot Match the Demand More Translators, Less Professionals Source: https://www.commonsenseadvisory.com/Default.aspx?Contenttype=ArticleDetAD&tabID=63&Aid=2870&moduleId=390

9 Common Mistakes Shared by Agencies and Translators Quantity Comes First Quality is a Happy Coincidence, if it Happens Personal Contact is Unnecessary It’s All About the Money Competition is Definitely not Healthy

10 Good Agencies Translator Decides the Rates Selection due to Tangibles and Intangibles Deadlines are Requested Payment is at most Net +30 Projects are Offered Individually The PM is Responsive Feedback is Provided The File(s) is(are) Ready to be Processed Quality over Quantity

11 Example #1 “Hey, mate. Do you have time to help me with this project?” “Great! Let me know when you’ll be able to send me the file.” “I don’t really know, I’ll ask the client and get back to you in a few!” “Thanks, you’re the best.” “Hey, Konstantinos, just wanted to remind you that you haven’t invoiced me about this project yet.”

12 Bad Agencies Rates are Generously Predetermined Selection by Testing Deadlines are Fixed Payment is Net+45, Net+60, Net+365, Soon Projects are Up for Grabs The PM Blocks you Immediately After Assignment Feedback? The Files are Scanned Images Quantity, Quantity, Quantity

13 Example #2 UK****** RUSH JOB EL > EN 150 k please help!!! Split is ok “Hello” / “Hi there” “Deadline is in 3 hours” “Files are scanned.pdf documents, please retain formatting” Crickets More Crickets “Sorry the client is not happy with the quality, we can’t pay you”

14 Some of the Things We’ve Lost Personal Contact Compensation for Additional Services CAT Tool Discount Grid Freedom of Choice Confidence

15 The Experiment: Premise 5 Years of Experience Master’s Degree in Health Sciences Certificate of Proficiency in English Specialization in Medicine/Pharmaceutics, Computing & IT, and Science Membership in a Professional Association A Couple of Strong References Simply Mentioning “Reasonable Rates”

16 The Experiment: Goals Understanding the Market Helping Newcomers Be Prepared Promoting Good Practices

17 The Experiment: Results €/source word Proposed80 77 Accepted ContactedPositiveNo Answer/Negative

18 The Experiment: Results €/source word High-end (US, UK, Germany, etc.) 3 out of 4028 out of out of 57 Low-end (Romania, Czech Rep, etc.) 17 out of 404 out of 401 out of 400 out of 20

19 The Experiment: Conclusion Stop Worrying About the Market There are Clients Out There that Respect Quality There are Clients Out There that Fear Low Rates Start High and Go Higher as You Gain Experience Learn to Respect Yourself

20 Things to Consider The Market Can Only React to the Provider We Control the Flow Bad Agencies Can Only Exist if We Don’t Hold our Ground Trusting in Our Abilities is Equally Important to Understanding Our Limitations Working Together and Helping Each Other Can Only Strengthen Our Profession

21 THANK YOU!


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