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Productivity

Jan 08 2014
Corinne McKay

The new year: looking back and looking ahead

The beginning of the year is always a good opportunity to take stock: what went right in 2013, what needs to go better in 2014, and where do you want to be a year from now? Let’s look at some questions that every freelance translator should ask. I’ll kick things off with my own answers, and please add yours in the comments.

Think of where you were at this time last year and what your goals were; by comparison, how are things going now?
In January 2013, I made a major change and joined a co-working office, in which I’m sitting right now. This has made a huge and positive change in both my work and home lives, since I now rarely work at home and try to maintain a fairly rigid separation between the work day and the non-work day. I surmised (correctly, as it turns out) that at the office, I would get more done in less time and potentially earn more money. So, overall, this year was a very successful one.

If you’re stuck in a rut (in terms of income, clients, workflow), what needs to change?
I’m not currently stuck in a rut, but I was at this time last year. So here’s my advice: look for the root cause of the rut. At this time last year, I was feeling relatively blah about work in general: wanting to break through to the next level of income, find more direct clients, and earn a larger percentage of my income from teaching, consulting and writing. I realized that I really needed to shake things up, and that the root cause was that I needed an office outside the house. For you, maybe it’s something different. But it’s important to realize when you need a big revamp rather than some small tweaks. Also, accept your reasons for wanting a change, even if they seem weird or superficial. One thing I love about the co-working office: it’s an excuse to wear nice clothes. If I feel like wearing a new dress, or fun shoes, or a cute hair style that I saw in a magazine, I do. So there.

Did you earn what you wanted to earn?
It’s OK, and even positive, to admit/accept that you translate primarily for the money. I love the work that I do as a translator. I love getting paid to read and write all day, and I love learning about new subject areas. I even (mostly) love interacting with clients and colleagues. But I also love that I can earn a healthy income while working largely on my own schedule and living in a place where there are few, if any, in-house jobs for what I do. Over the years, I’ve seen that for me at least, earning a good living doesn’t make life better, but it does make it easier. So be honest with yourself: are you making as much as you want to? Or do you need to up your income in 2014?

Who did you work for?
This one is critical: what are your revenue streams? You can probably name your top two or three clients without looking at your accounting records, because they’re the ones you hear from all the time. But you might be surprised to see who your mid-level clients are. If you do work other than translation, you also might be surprised to see what percentage of your income the “other” work generates. For example this year, every session of my online course was full and I taught 7 sessions of the class, meaning that the class is now one of my top “clients.”

How much did you enjoy the work that you did?
If you’re earning what you want to earn, working for yourself is generally pretty great. But ask yourself this (and I know I’ve harped on this topic lately, so bear with me!): did you take what landed in the inbox, or go looking for work that really turns you on? Was it another day, another dollar/euro/yen, or did you really look forward to diving in to your work on Monday morning?

What are you getting sick of?
I’m generally a very positive person, almost to a fault. Meaning that I tend to ignore the negative until it’s staring me right in the face. But think about this: what aspects of your work are making you nuts, and what can you do about them? For example I’ve recently talked to a couple of translators who are retiring, and who said “I’m not sick of translating, but I’m sick of deadlines, and rush jobs, and clients who want a miracle for yesterday.” Now that I’m over 40, I hear that. I realize that in another, say, 10 years, I’d like to be focused on work that is really, really on my own schedule, such as teaching, writing books and translating books. I’m not really at the “had it” point yet, but I see it on the horizon.

Should you outsource anything?
A couple of years ago, I realized that doing my own accounting was counterproductive. Although my accountant charges more than I do, it takes me approximately 57 times as long to do payroll taxes as it takes her. So I decided to allocate about $1,000 a year to accounting fees and I now pay my accountant to do almost everything. I keep my own income and expense records, but other than that it’s all her, and it’s well worth it.

Where do you want to be at this time next year?
I’m not a big one for resolutions because they’re kind of a setup for failure (for me at least). Also I’m fairly disciplined, so I tend to follow through on long-term goals. So I think more in terms of goals for the new year rather than resolutions. Here are some of mine: I’m planning to launch a more advanced-level online course (Beyond the basics of freelancing) within the first quarter; then I’d like to do a third edition of How to Succeed as a Freelance Translator. I also really, really need to work on connecting in person with more direct clients. I work primarily with direct clients, but most of them have fallen into my lap; I need to make more of an effort to actively seek them out.

Now, over to you? How did 2013 go? What’s on tap for the new year?

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

Dec 18 2013
Corinne McKay

The work/life balance: a new Speaking of Translation podcast

Last night, Eve Bodeux and I hosted a Speaking of Translation conference call entitled “The freelance juggling act: balancing work, family and the rest of life.” We had the pleasure of interviewing three freelancers: Andy Bell (Scandinavian translator and dad of 3), Marianne Reiner (English to French translator and mom of 2) and Karen Tkaczyk (French to English translator and mom of 3), all of whom have thriving businesses, young families and significant non-work interests and commitments. We asked them three main questions: how they combat the fear of losing clients or not earning enough money if they take time off, how they set boundaries with their families and the outside world so that they can get enough work done, and what their tips and goals are for a better work/life balance in 2014. It was a very informative and enjoyable hour, and we’ve created a podcast recording of it. Here you go:

Click the audio player link to listen online

Right-click the link below to download the MP3.
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Work/Life Balance

And if you’d like to listen to more Speaking of Translation podcasts (international payment methods, finding direct clients through industry conferences, and more!), hop on over to our recordings page. Thanks to Karen, Marianne and Andy for taking the time to talk to us!

Written by Corinne McKay · Categorized: Clients, Freelancing, Interviews, Productivity, Working from home · Tagged: Andy Bell, Karen Tkaczyk, Marianne Reiner

Dec 16 2013
Corinne McKay

Your end of year bonus

One of my golden rules of freelancing is “Be the best boss/employer you’ve ever had.” Those of us who worked in the salaried world before going freelance are familiar with both sides of this coin: an employer can enhance your quality of life, and an employer can make your life a waking nightmare. As a solopreneur, you get to pick which of those employers you want to emulate.

Hopefully, you’ve had a good year work-wise. If you reached most of your freelance goals, it’s time to think about your end of year bonus, and I’ve got some ideas for you. Let’s focus on a bonus that will improve your quality of life. Such as:

  • Redesign your office. Get the clutter out; paint it a color you love; get a new desk or workspace; buy some plants. This doesn’t have to be super expensive. Hit Craigslist or a thrift store! Depending on your budget, pay someone to do some or all of this for you. Or give yourself a day off from translating and do it yourself.
  • Outsource your most-hated office task. Two years ago, I decided that I had categorically, undeniably had it with doing my payroll taxes myself. So my end of year bonus was to hire my accountant’s bookkeeper to do them for me. It’s not the sexiest gift ever, but in terms of quality of life improvements, it was a huge winner!
  • Rent yourself an office. This was on my “I’ve had it with…” list a year ago. I seem to have “had it” with a lot of things lately, although I assure you I’m actually a very happy person! But I had officially had it with being home alone all day, with very little separation between work and home. Enter a desk at a co-working office, which has very tangibly changed my life for the better. Completely worth every cent of the $4,000 it cost me for the year.
  • Give yourself a new hobby or skill. Having crossed two “had it” items off my list in the past two years, this year I focused on something totally different. I’m a lapsed piano and recorder player, and for a few years I’ve been searching for a new instrument to play. Our house is small so a loud instrument might cause family discord (scratch the trumpet, tuba, etc.) and we don’t have space for a large instrument (scratch the piano, harp, etc.). My daughter plays classical guitar and I’ve always really loved early music. A few months ago, we went to a lute concert sponsored by the guitar studio at the university where my daughter takes lessons and (call me weird…) the lute really enchanted me! Lute is a niche instrument and it took me a while to find a combination of a lute and a teacher, but I’m very excited about my 2013 end of year bonus. Here it is:

lute

Side note: no, this lute is not broken! Until we saw this concert, I never knew that lutes have a 90-degree bend in the neck. Between the bend and the shape of the body (kind of like a watermelon cut in half), the case is not much smaller than a harp, but it’s certainly a beautiful instrument!

This also brings up a couple of tangential topics:

I would never have persevered with my lute ambitions were it not for a friend who I met in our local translators association. She’s a Dutch translator and avid early musician (recorder) who knew exactly where to point me in my search for a lute and a teacher. She also encouraged me that it was totally possible to learn a new instrument over 40. Yet another benefit of being active in your local association! Also, I find that after translating for a whole day, I love the work but I’m just so tired of words. I might listen to a podcast instead of reading, but sometimes it’s just too many words. Music is a totally different neurological activity, and even when I’m really tired of translating…or maybe especially when I’m really tired of translating, music really does the trick! If you feel the same, think about a completely word-free bonus for yourself, whether it’s something sporty, musical or artistic.

Other ideas for good end of year bonuses???

Written by Corinne McKay · Categorized: Freelancing, Productivity

Oct 29 2013
Corinne McKay

What is "the right rate" for your translation services?

After “How do I find some clients?,” I think that the most common question I get from beginning (and for that matter, experienced) translators is “How much should I charge?” My sense is that most people want an answer like “If you work for agencies, charge 16 cents. If you work for direct clients, charge 30 cents. Anything else I can help you with?” But of course, it’s not that simple. As I always tell the students in my classes, I can’t tell you how much to charge, but I can help you figure out how much to charge. Here’s a short course in how to do it:

If you want a step-by-step guide, check out Jonathan Hine’s pamphlet I am worth it! How to set your price, and other tips for freelancers. Jonathan’s advice is right on: first, figure out how much you want to earn, and what your business expenses are. Then, figure out how many hours you want to work (or, conversely, how much time you want to take off). Then convert that into an hourly rate, figure out how fast you usually translate, and that will yield your target per-word rate. Again, this is a major oversimplification, but you get the idea!

Most translators base their rates on factors like this:

  • Fear (of charging too much, of earning too little, of pricing themselves out of the market, of living under a bridge when they’re old)
  • Speculation (about what other people are charging, because most people won’t talk openly about their rates)
  • Vague notions of “what the market will bear,” or “what clients are willing to pay,” with little to no actual data to back that up

Whereas most translators should base their rates on factors like this:

  • The types of clients they want to work for (agencies, direct clients, or both)
  • The balance of supply and demand in their language pair or specialization.
  • Whether most of their clients translate things because they have to, or because they want to.
  • How much they want to work
  • What their financial and lifestyle needs are: kids, student loans, aging parents, a desire to be location-independent, a desire to retire early, a passion for high-level clients, a passion for running ultramarathons while still earning a good living, etc.
  • Actual conversations with other translators about how much they charge.

Here a few other Zen koan-like tips on how to decide how much to charge:

  • “The right rate” means that you and the client both feel that you’re getting a fair deal.
  • “The right rate” means that you are motivated to do an excellent job.
  • “The right rate” means that you can live the life that you want to live.
  • If 100%, or even 95% of potential clients accept your rates with no negotiation, it means that you could definitely be charging more.
  • The best time to raise your rates is when you’re too busy. Try a higher rate with the next new client who sends you an inquiry: if the client turns it down, you still have enough work.
  • How do you significantly raise your rates with existing clients? You don’t. You raise those rates a little bit, then you make the big jump with new clients.
  • Broken record alert, but here we go again: There is *lots* of good, high-paying translation work out there. Income of six figures is becoming more and more realistic, even if you work with some agencies and some direct clients. There are even clients who are *looking* for someone like you and don’t know where to find you. So you have to go and find them. But most people won’t do that. They’ll continue to take what lands in the inbox, while complaining that some (other) people have all the luck in this industry.

Written by Corinne McKay · Categorized: Money, Productivity

Oct 17 2013
Corinne McKay

Some thoughts on MOOCs

Massive open online courses, or MOOCs, are the hot new trend in online education (at least in the US). I’m one week into my second MOOC through Coursera, and here are some thoughts on the experience.

In general, I think that MOOCs are a great option for motivated learners with a specific goal. The course offerings are far more specialized than what you’d find at a local adult education center or community college, and the price (most often free) is certainly appealing. You can work on your MOOC anywhere with an Internet connection, at any time of the day or night. Many MOOCs consist of online video lectures: great because you can pause the video, rewind it, look up a quick Wikipedia entry of a concept you don’t completely get, and so on. For example my MOOC goal is to learn more about the science behind the international development documents I translate, so I’m currently taking Epidemics: the dynamics of infectious diseases, offered by a team from Penn State.

The range of MOOCs is really staggering: right now on the Coursera home page, you can sign up for courses ranging from Jazz Improvisation (taught by professors from the Berklee College of Music), to Bioinformatics Algorithms (UC San Diego), to a French course on business valuation (HEC Paris). The schools that offer these courses are top-notch, and thus they present an opportunity to take a course that is logistically and financially out of the reach of many people. MOOC providers are also getting more savvy about what their students want: in the course I’m currently taking, you can get a certificate of completion (for getting at least an 80% on all assessments) or a verified certificate with distinction (for getting 100% on all assessments). Coursera’s newly launched signature program has already earned over $1 million, focusing on students who want to earn a credential from their MOOCs.

In just these two experiences, I’ve learned that all MOOCs are not created equal. The first MOOC I took was a general public health class and it was fine. It was certainly more interesting than reading a public health textbook, especially since I do not have a strong formal science background. However, the course was not really created for the online learning format: most of the video lectures were taken with a camera in the back of the room during the professor’s live lectures, and they were uploaded in fairly long segments. In addition, the fact that the in-person students seemed a little disengaged from the material (professor would ask questions and have to wait for answers, or no one would answer) detracted from the experience. By contrast, the Epidemics MOOC that I’m currently taking is outstanding. The class has a huge team of instructors and developers, and was obviously developed specifically for this purpose. The videos are short (about 6 minutes each) and have excellent animations that accompany them. The videos are narrated by a bunch of different people, so they don’t get monotonous. In addition, the staff seems to be spending a huge amount of time contributing to the online discussion boards for the class. So, a huge shoutout to the Epidemics MOOC staff!

In my opinion, here are some caveats about the MOOC experience: if, like me, you’re doing a MOOC because you realize that, uh-oh, you should have paid better attention in those “throwaway” core classes in college? You’re in the right place. I was too busy thinking lofty literary thoughts in college (and graduate school for that matter) to worry about the difference between macroparasites and microparasites. Now, I’m regretting that impulse, but Coursera has come to the rescue. In addition, I think that some of the classic criticisms of MOOCs, such as “there’s no interaction with the instructor,” “all of the assessments are multiple choice and graded by computer,” and so on, also apply to many of the courses one would take as an in-person student at a large research university. Many of my friends who went to such universities were largely taught by grad students during their first few years. If you took an in-person course with 250 students in a lecture hall, you would not get personal attention or individually-graded assignments, and you’d be paying a lot more than $0 for the experience.

Personally, I do not see MOOCs as a substitute for a solid, in-person, general education. I would not encourage my own daughter to bypass an undergraduate degree in favor of MOOCs. I agree that the human interaction element of education is important, and I even agree that grad students can be excellent teachers. But for those of us who already have that general education and want to fine-tune our knowledge, I think that MOOCs are a great solution.

Written by Corinne McKay · Categorized: Freelancing, Productivity, Professional development, Technology

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