Watch your back for a recession I'm not an economist (far from it!), but it's hard to miss the rumblings in the financial press that the US (or even the world) economy may be headed for a recession. After a 10-year bull market, we're in a bit of a "what goes up must come down" situation, and as a … [Read more...] about A recession may be coming: how can you prepare?
Money
Should you allow clients to pay by credit card?
I often say that the worst reason to turn down a translation job is because you can't figure out how to take the client's money. However clients want to pay you, you want to make it happen. In 16 years of freelancing, I think I've probably been paid in nearly every imaginable way, including cash … [Read more...] about Should you allow clients to pay by credit card?
Billing by the word, by the hour, or by the project…what to do?
If you want to inspire fierce emotions in a group of translators, ask this question: is it better to bill by the word, by the hour, or by the project, and is the per-word pricing model on its way out? Per-word pricing has historically been the norm in our profession. Per-word pricing has a few … [Read more...] about Billing by the word, by the hour, or by the project…what to do?
Five ways to minimize the risk of not getting paid
Failing to get paid for a translation you provided to a client is always a risk; I think it's unlikely that anyone goes through an entire freelance career without at least a couple of non-payment situations. In 16+ years of freelancing, I've been stiffed twice: once by an individual who dropped … [Read more...] about Five ways to minimize the risk of not getting paid
How to set a budget for your freelance business
This post originally appeared in my newsletter, and a couple of readers asked me to post it here so that they could refer other translators to it. Here you go! Setting a budget for your freelance business is important, because: -Many freelancers have no idea how much they need to earn in … [Read more...] about How to set a budget for your freelance business