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?