“Price is what you pay. Value is what you get.” – Warren Buffett
In April I attended a Proz.com webinar on pricing strategies for freelance translators, held by Gwenydd Jones. I liked it so much that I wanted to share some of her insights with you. Many of us have struggled with pricing our translation services, knowing what to charge, when to charge a higher fee and when we could accept a lower rate. Gwenydd talks about what we should think about when pricing our services and negotiating fees with our clients. This episode is a great complement to the previous episode on value pricing by Luke Spear so I hope you will enjoy it.
In this episode we cover the following:
- How to calculate our translation rates
- How to establish earning goals
- How to know when to say no to a request
- Always converting the project fee into an hourly income, and how to do that
- Timing your work to figure out your hourly rate, but also to figure out which projects were not worth the time or money
- How we can handle discounts for fuzzy matches and repetitions when using CAT-tools and quoting for a project
- A great tip on quoting for a project together with a colleague
See: Marketing Tips for Translators
Direct link to podcast: http://marketingtipsfortranslators.com/?powerpress_pinw=425-podcast
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Australia
Local time: 07:58
English to Hungarian
+ ...
'As I hurtled through space, one thought kept crossing my mind
- every part of this rocket was supplied by the lowest bidder.'
John Glenn
Spain
Local time: 23:58
Member
Catalan to English
+ ...
No, really. All of it.
I learnt that well paid but complex texts may not be worth it. Better a far easier text at a lower rate.
I learnt that there's software that tracks your time.
I learnt that "researching terminology" is a waste of time. (But remember, you have an application to track this).
I learnt that you have to charge a "sustainable" rate, enabling you to cover your expenses.
Me mum al... See more
No, really. All of it.
I learnt that well paid but complex texts may not be worth it. Better a far easier text at a lower rate.
I learnt that there's software that tracks your time.
I learnt that "researching terminology" is a waste of time. (But remember, you have an application to track this).
I learnt that you have to charge a "sustainable" rate, enabling you to cover your expenses.
Me mum always told me I was daft. (In a "sustainable" way, of course). ▲ Collapse
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