Reader question: following the money

A student in my online class asks: how do you know who the “big payers” are in a given industry, and how do you find them or help them find you?

That could be a whole course in and of itself; but here are my thoughts in a nutshell:

Every industry or sector has “big payers.” For example, when I tell people that I do mostly international development translation, they often say “But isn’t it all small NGOs run out of someone’s garage on a shoestring budget?” And yes, there are *tons* of those small “garage” NGOs out there that always need pro bono translators. But the real “big payers” in the development sector are companies that get huge contracts from USAID and other entities like that. For those clients, a contract of $50 million would be considered medium-sized. A big grant from an entity like the Gates Foundation would be in the hundreds of millions of dollars; so these clients are much more concerned with quality, consistency and confidentiality than with saving a few cents per word.

Here’s another example: another student in the class is interested in art-related translation, and I suggested looking at art law. Like my example above, you’re going to find tons of small players in the art sector who have little to no money, and might be a good target for pro bono translation. But envision if a large museum in the US is doing a major exhibit on, let’s say, Frida Kahlo, and they’re going to borrow a bunch of paintings from museums in Mexico. Again, here, we’re talking huge amounts of money: paintings that are insured for millions of dollars and have to travel under certain conditions and with an attendant from the “home” museum at all times; and they have to be displayed only under certain conditions, and hung a certain way. And they have to be evaluated by a curator before they leave the home museum to check for damage and all of that stuff, but all of that stuff is in Spanish. Same with the books and brochures associated with a traveling exhibit; they probably already exist, but in Spanish. So again, there would be a lot of translation work there, with an enormous cost of failure for the museum.

So, how do you land those kinds of clients? A few tips: first, you make sure that if they are just blindly looking for someone online, they find you. You are on LinkedIn and you have a website that clearly describes your services. Also, you have a large network of other translators who refer work to you because you are ultra-trustworthy and never let down the clients who someone refers to you. Also, you hang out in places where your target clientele hangs out; you are a member of their professional associations, and you go to their conferences and things like that. But, you also do not wait for them to find you; let’s say that you see a notice in the local press that a museum in your city is doing that big Frida Kahlo exhibit; they just signed the contract! So you fire off an e-mail that’s low-key but well written, and say something like this to the person who’s listed as the contact: “Dear Ms. Simpson: I just read the news in the local paper about your upcoming Frida Kahlo exhibit. How exciting, and what a great cultural opportunity for the art community in town. I’m a professional Spanish-English translator specializing in fine arts, and I can envision that you might need someone to help with translations related to this exhibit. If so, feel free to keep my contact information on file. In any case, thank you so much for bringing this incredible event to our city, and I’ll definitely be looking forward to the exhibition!”

So, that’s very brief, but there’s the basic concept of how the “high payer” world works, in my experience. Readers, other thoughts?

3 Responses to “Reader question: following the money”
  1. Debra Biasca November 4, 2014
  2. Jim November 4, 2014
  3. Vanessa November 4, 2014

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