Sooner or later, we grow as translators and come to a point in our careers where things are going well. We have a large and varied client base and are generally satisfied with our business and career. In other words, we understand how to make money as a translator. After growing up and gaining experience and building a solid foundation, we arrive at a safe and quiet place. However, things remain unchanged once the business stagnates. This is known as “stagnation”.
“Monotony” can be a relief for many self-employed workers. There are no more constant customer chases, no heavy marketing campaigns and no fewer financial worries. However, at the same time, from a commercial point of view, it may not be a consolation. Your business is not progressing and may be on the verge of ruin.
So, what can we do about it? Read on and find out more about how to make a living as a translator and how to increase your income
1. How to make money as a translator? Do not change anything
You can keep doing the same and enjoying your professional stability. It is a good option for some translators with some language combinations and in certain specialties. If you are one of them and you are comfortable with “monotony”, do not change anything.
2. Move up in the current job market
As a result of this business stagnation, many companies are regrouping and thinking of strategies that will allow them to progress. This way, they can increase their sales and their income. If you cannot work more hours as a translator, the only way to increase your income is to start charging more. Here, different opinions come into play regarding current market rates.
3. Develop another area of expertise
Delving deeper into the subject you already know is the best solution on how to make a living as a translator. However, developing other specialties can help boost your growth. If you are interested in a field and see a future for it, go ahead!
4. Expand your services
You can keep working in your specialties, but it is advisable to expand the services you offer. For example: a professional usually translates online content for the Polish market for years. Next year, he decides to add content marketing, copywriting and A/B testing to his services.
5. Work as a team
Many companies have reasons, of lesser or greater weight, to work or not with freelancers. When you cannot start as a freelancer, teamwork is preferable. It would be helpful to meet the right people and sell joint services. This includes team building not only with translators, but also with web designers or programmers, DTP specialists…
6. Start outsourcing
When overloaded with work, some professionals outsource translations to others and then review them before delivering them to their clients. This way, they pay the real translator and keep a margin for themselves. A good option would be to outsource unimportant business tasks and save time to translate more.
7. Start your own translation company
If you want to take a risk and you like management and problem solving, starting up a translation company can be successful. A translator as the owner of a company can add lots of value. However, running a translation company is very different from being a translator. In the end you work more as a business administrator than as a translator.
These are some tips on how to make money as a translator today. Can you think of any other way to grow in the professional field?