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Sep 04 2013
Corinne McKay

Getting Started as a Freelance Translator- starts September 18

The next session of my online course Getting Started as a Freelance Translator starts on September 18. I’ve been teaching this course for about five years and it’s always a lot of fun: a small group of translators (maximum 10 people) who want to launch and run a successful freelance business, or experienced translators who need a nudge to achieve their business goals.

The group spends four weeks together working on four targeted assignments: resume and cover letter, marketing plan, rates and billable hours sheet and online presence. Each week we also do a one-hour question and answer conference call, and everyone receives individualized feedback from me on every assignment, plus a copy of my book How to Succeed as a Freelance Translator. The class fee is $305, with a $50 discount for ATA members.

Some recent graduates of the course have commented:
Before I took this course, essential professional development tasks such as updating my resume were constantly pushed to the bottom of my To Do lists. The conference calls were fantastic and a true highlight because I benefited greatly from the other students’ ideas and perspectives. They either asked questions I hadn’t yet thought of myself or hadn’t yet had the chance to ask.

I appreciated the constant support and presence of Corinne, who is a skilled and passionate professional. I think one of the most valuable elements of the course was the expertise she shared with us. I loved to listen to her suggestions and she gave me positive encouragement to never stop working on what I love the most.

Starting a business is a scary thing to me and this course gave me the confidence and the knowledge to feel comfortable getting started. It was great to have someone answer my questions and sort of hold my hand as I went through each step. Thank you!!!!

To read the full course description or to register, please visit my website.

Written by Corinne McKay · Categorized: Announcements

Aug 21 2013
Corinne McKay

Keeping your freelance finances in order

Disclaimer: I’m not an accountant or an attorney; these are just some tips from my own experience and what works for me in my freelance business. Managing your freelance finances is a) time-consuming and b) absolutely critical to your survival as a freelancer. So, it’s worth taking some time to consider whether you’re optimally managing your money. And those of you who are more financially oriented than I am, please chime in in the comments.

  • Before you do anything else, separate your business and personal finances. Even if you do business as a sole proprietor (meaning that you are not incorporated), open a separate checking account that you use only for business purposes.
  • People use various accounting tools and processes, but at the very least, track your total freelance income for the year. Every time a client pays you, enter that amount into something (a spreadsheet, QuickBooks, Translation Office 3000, etc) so that you have a running total of how much you have earned.
  • Always, always have a savings cushion, especially if you are your (or your family’s) only income. Freelancing has its highs and lows; some months go like gangbusters and other months drip along. Big clients may unexpectedly change their plans or hire an in-house translator. And if you (or a family member) are too sick to work for an extended period, you’re left without income unless you have disability insurance. So don’t let yourself live paycheck to paycheck. Keep at least 3-6 months’ living expenses on hand in cash at all times.
  • Track your total outstanding invoices. For me, this is a big one. Of course you’re going to record your outstanding invoices so that you know whether clients have paid you or not, but you also want to know how much money you should be receiving in the next 30-60 days. This statistic will tell you how aggressive you need to be about looking for or accepting new projects. For example, let’s say that your income goal is $7,000 per month. Every time you issue an invoice, you enter it into an Excel file with a column that totals your outstanding invoices, so that you know how much money clients owe you. So for example if your outstanding invoices only total $5,000, you know that the next month is going to be lean unless you take on a lot more work. But if your outstanding invoices total $9,000, you know that you can afford (at least from the financial point of view) to be choosier about the work that you take on, to work on some non-paying tasks such as updating your website or marketing to higher-paying clients.
  • Track your business expenses. The easiest way to do this is by using a debit or credit card associated with your business bank account. That way, you don’t have to comb through your records at the end of the year, wondering whether that trip to the office supply store was for home or for work.
  • Establish a business savings account. Another big one: at the very least, you need to set money aside for taxes. Depending on your situation and your tax bracket, this could be anywhere from 25-50% of what you earn. Every time a client pays me, I deposit the check in my business checking account and then immediately transfer 40% to my business savings account so that I am never in a bind when tax time rolls around. And also…
  • Use your business savings account as a paid vacation fund. Freelancing doesn’t have many downsides, but one of them is no paid vacation. So, provide yourself with a good quality of life by having a paid vacation fund. For example, if you want to take off 4 weeks per year and work 48 weeks, start by putting $100 a week into your paid vacation fund. Then you’ll have $4,800 to “pay” yourself during your month off.
  • Have some sort of retirement plan. My accountant likes to say that “Everyone has a retirement plan. Either you’re saving for retirement or you’re planning to work until you drop.” Retirement strategies are really diverse, and they depend a lot on your expenses, how long you plan to work, if you have kids and how old you’ll be when they leave home, and so on. Plus the not insignificant question of how long you’re going to live. But whatever you do, have some kind of plan in place.
  • Set money aside for professional development and (why not) bonuses. It amazes me how many translators spend absolutely nothing on professional development and then wonder why their businesses are stagnating. In order to stay current in our industry, you have to keep your skills, knowledge and contact base current. Meaning that you have to learn new things. Take webinars, read books, do teleconferences, attend in-person conferences, join the Chamber of Commerce. But set aside at least 5% of what you make for professional development. And, if you have a good year, you really deserve a bonus. I once had a boss who left $50 in everyone’s mailbox on the last day before winter break; a manageable amount for the company, and an amount that everyone was excited to go and blow on something fun over the holidays. Consider earmarking some “fun money” for yourself, getting a new technology toy or treating your most valuable colleagues to a good meal at the end of the year!

Other ideas??

Written by Corinne McKay · Categorized: Freelancing, Getting started as a translator, Money, Productivity, Rates

Aug 15 2013
Corinne McKay

Some thoughts on leaves of absence (maternity and otherwise)

A former student recently contacted me to ask some advice about taking maternity leave as a freelancer; she is pregnant with her first baby and her new freelance business has recently been gaining momentum, so she wants to take time off but doesn’t want to lose all of the energy she’s put into her business. My daughter is entering middle school this year so my experience is a bit dated, but I’m interested to hear other people’s thoughts as well. Whether you’re taking maternity or paternity leave, taking care of an aging parent or various other reasons, here are some factors to consider:

  • As a freelancer, taking time off is always anxiety-provoking. Let’s just admit that and get it out of the way. Building up a financial cushion to tide you through the period when you’re not working; stressing out about whether clients will find another translator (who, in your paranoid fantasies, is always better, faster and cheaper than you); stressing out about how long is too long to take off, and on and on. That part, you just have to live with, and maybe do a lot of yoga and meditation to help calm the inevitable anxiety!
  • I think it’s best to be up front about the reason for your leave. To me, it’s unnecessarily vague to contact your clients and say “I will be unavailable for the next six months” with no further explanation. If you’re taking a medical leave, I would not provide the details about your health problems; just say you’ll be on medical leave.
  • But you want to keep it a little vague as well. When you have an in-house job, you have to be really, really ready to go back to work before you commit to a return date, because you have to feel up to working a full day, and you have to have child care in place. But as a freelancer, you have no paid leave time, so you don’t want to close the door for longer than you need to. For example you might say “I’m expecting a baby in mid-October and I plan to be on maternity leave until approximately the end of November, but my exact return date will of course depend on how the baby and I are doing by that point. I’ll plan to contact you by November 25 with an update” or “I will be working reduced hours for at least the next two months to care for my ailing father. I anticipate that it may take me longer than usual to respond to e-mails and phone calls and I will probably not be able to handle rush projects. But please let me know if I can help out with any non-rush work during that time.”
  • How long you need to take off depends on a lot of factors that you can’t control. We’re talking about maternity leave here: I commented to my former student that although I felt completely fine within a few weeks of my daughter’s birth, her habit of wanting to be held and nursed for about 23 hours a day kind of precluded doing any substantive work. In addition, she didn’t sleep through the night until she was over a year old, so I was pretty exhausted a lot of the time. Other babies are the opposite: if your kid is happy napping in a crib for hours at a time, you might be working close to full-time within a few months.
  • Be honest with yourself about your choices and tradeoffs. I’ll address this one from the mom/wife point of view because it’s the one I’m most familiar with. At some point during my daughter’s first years of life, I realized that for me, the work/life balance will always swing toward life rather than work. I realized that when my daughter is grown up, I will have gotten some things right, and I will have messed some things up, but mainly I want to have been there, and to have had not only quality time but quantity time with her. Same with my husband: if he’s really sick, I don’t go into the co-working office and I stay home with him; if he has to have some medical procedure, I go along.In a lot of ways we’re pretty traditional: we cook a real dinner and eat together pretty much every night. We mostly socialize as a family; my parents live near us so we basically never use babysitters even if we go out at night, and so on. I recognize that this choice involves tradeoffs. Essentially every moment of my day is scheduled, because I work primarily while my daughter is at school. I could make more money if I didn’t take a month off every summer to go on an extended family vacation; I turn down pretty much every out-of-town speaking engagement request that I receive, because my ATA Board responsibilities already require me to travel at least four times a year. In order to fund our travel habits, we practice freelance frugality to a pretty extreme extent. But I accept that this is the way of life that makes me happy, and that in order to maintain it, I have to prioritize.

    On the other side of the coin, there are lots of moms who need to work full-time, either for financial reasons or because that’s what makes them happy. In a doctor’s office waiting room a while ago, I read an interview with Ivanka Trump in Redbook (I know, that’s not normally where you’d expect enlightenment to come from, but I take it where I can get it!), in which she unapologetically admitted that she spends just an hour and fifteen minutes with her toddler daughter on a typical weeknight because she works up to 16 hours a day. It goes without saying that if you’re Ivanka Trump, part of the reason you can do that is because an armada of nannies and housekeepers and cooks are picking up the slack during those 16 hours. However I really appreciated Ivanka’s candor: she seems to really adore her daughter, but also says that working hard at a job she loves makes her happy, and makes her a better mom when she’s with her kid. So I think it’s not so much a matter of saying “if you’re a mom and a freelancer, you must do this,” but of finding a quasi-balance that works for you.

Any other tips (practical or philosophical) on leaves of absence??

Written by Corinne McKay · Categorized: Freelancing, Getting started as a translator, Working from home

Jul 30 2013
Corinne McKay

Dear newbie translator

Dear newbie translator: I know. The first year (or two or three) as a freelancer is/are really hard, and it’s easy to get discouraged. So for those days when you feel really down, here are a few things I want to tell you.

  1. As Dan Savage says about growing up gay, It Gets Better. The first few years as a freelancer are like the first few years of raising a child (which I’ve also done) or maybe like military boot camp (which I haven’t): if you feel totally wrung out but at the same time you’re sure that this is what you’re meant to be doing, you’re on the right track.
  2. It may get better all at once. I distinctly remember that at some point during my third year of freelancing, all of a sudden I realized that the vast majority of the time, I had enough work. Just like that.
  3. Experienced translators stress out too. It’s not just you. If you asked 100 translators whether they panic when a week goes by with no work, I bet that 98 of them would admit that they do, and the other 2 are crossing their fingers behind their backs. But in the end, the tide of work always rises again.
  4. There is well-paying work out there if you actively seek it out. But most people don’t. They wait for the sweet projects to find them, and in the meantime they complain.
  5. You work a lot harder than I do. Seriously. My work flow mainly consists of triage: deciding which project offers I want to accept and which I want to decline, and how much I want to charge. Meanwhile, you’re actively looking for new clients and new projects almost all the time. Mostly, I get to translate interesting projects that pay well or even very well. So if you can do what you’re doing now, you can surely do what you’ll be doing in 10 years.
  6. You’re a lot braver than I am. Again, seriously. When I go to a conference, I usually know most of the people there. Sometimes I’m even the one coordinating the conference. I’m not sweating through the buffet line, wondering who I could sit with, or if I should just eat lunch in the bathroom. Meanwhile, you’re walking in to the opening reception of the ATA conference and wondering which of these 1,500 people would like to have a conversation with you. I give you a lot of credit for that courage.
  7. You’re hungry, and I’m a little lazy (or something like that). When a client who’s not one of my regulars calls on a Friday afternoon with a Monday deadline, or has an icky handwritten document that will make my eyes go bleary, or needs a list of 1,000 five-digit numbers proofread, I don’t care so much about the money. The annoyance and stress just aren’t worth it. I’d rather shut the computer down on Friday afternoon and go biking or kayaking with my family and stick with the work I enjoy. But you? You’re there, bailing the client out and winning huge kudos for it. And that’s why in the end, you’ll be OK.

Written by Corinne McKay · Categorized: Freelancing, Getting started as a translator

Jul 29 2013
Corinne McKay

Back at the wordface

As has become my family’s summer tradition, we headed off on a bike trip for the month of July. Last year’s trip took us from Lake Geneva to Salzburg; this year we started in our very own driveway and wound our way through the Colorado mountains for three weeks, visiting Aspen, Crested Butte and Telluride, and ending with a visit to Mesa Verde National Park. As with any outdoor trip in the Rockies, combine equal parts of challenging and gorgeous, add in some good food and a few apocalyptic storms, and you’ve got the picture. The conditions ranged from pushing our bikes across snow fields:
snowfield

…to lounging in the aspens next to beautiful mountain streams, to cranking over the formidable Cinnamon Pass, which at 12,600 feet, was the highest pass that any of us had ever biked. I remember it as being stunningly beautiful, but that may have just been the lack of oxygen!

As I’ve written about previously, I highly recommend a real vacation at least once a year as a way to remain enthusiastic about your job, recharge your creativity and give your family and friends some of your undivided attention. As opposed to last year’s completely computer-free trip, I purchased an iPod Touch for this trip in order to remain somewhat connected. Although I did not do any actual translation, I did really enjoy having the Touch along as a way to monitor my work e-mail. Also, I felt that the Touch was “just enough”–if I had taken my netbook, I think I would have felt compelled to work, and I knew that I really needed a break.

In the interim:

  • Registration for the 2013 American Translators Association conference is now open! Check out the conference website here. I’m excited to present about time management with fellow ATA Director David Rumsey, and I’m also really looking forward to the excellent lineup of French sessions at the conference. Make your plans now to be in San Antonio, Texas from November 6-9!
  • If you translate French to English or English to French, I also highly recommend Translate in Quebec City, which is this year’s edition of Chris Durban’s highly successful Translate in the Catskills conference. These are small conferences for premium-market translators, and they focus on very specific translation and writing skills. Grant Hamilton of Anglocom is organizing this year’s conference, to take place from August 29-31 at the Loew’s Le Concorde hotel in Quebec City.
  • At this past weekend’s ATA Board meeting, the Colorado Translators Association was unanimously approved as ATA’s newest local chapter. Huge congratulations to CTA’s current Board for this successful application!
  • The August session of my online course Getting Started as a Freelance Translator is full, but I’ve opened a new session that will begin on September 18.

Written by Corinne McKay · Categorized: Uncategorized

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