2. INTRODUCTION
Working as a Freelancer
Pros & Cons
How to Work from Home
Writing a Business Plan
Business Profile
Marketing Research
Marketing Plan
Finances
How to Find Clients
Agencies
Direct Clients
3. Flexibility
Implement your own
ideas
Create your own brand
Motivation
Work-life balance
WORKING AS A FREELANCER
Pros Cons
No fixed salary
High liability
Distraction
Working 24/7
4. HOW TO WORK FROM HOME
Have a dedicated workspace
Establish a business routine
Be disciplined with your time
Keep away from distractions
Invest in a good desk and chair
5. BUSINESS PLAN: WHY IS IT IMPORTANT?
PLANNING, PLANNING & PLANNING!
It’s your business route map
It reflects your business vision
It helps you to achieve targets
Can be used as a ‘military strategy’
It motivates you and helps you to focus
It will help you to project your business to future clients
6. WRITING A BUSINESS PLAN
Business
Profile
Marketing
Research
Marketing
Plan
Finances
7. WRITING A BUSINESS PLAN
BUSINESS PROFILE
Your vision
What are you going to achieve?
Where do you see yourself in the
next 2-5 years?
You as a main point
Why are you unique to this
business?
Your product
What are you going to offer?
Methods of trading
How are you going to sell
your product?
Start-up costs
How much would you need to
start the business?
8. WRITING A BUSINESS PLAN
MARKETING RESEARCH
Gaining information on your target market
Understanding key factors that influence buying decisions
Market Knowledge
Understand how your industry works
Google as your main ally
Narrow your research (location, language combination)
9. WRITING A BUSINESS PLAN
MARKETING RESEARCH
Competition
Identify your main competitors
Put yourself in the client’s shoes
Assess each area (quality, service, marketing strategy, business structure
etc.)
Perform SWOT analysis
Strengths and weaknesses
Networking, events, social media opportunities
Potential threats
11. WRITING A BUSINESS PLAN
MARKETING RESEARCH
Potential clients
Identify your clients (agencies, direct clients)
Identify your clients’ needs
How do they reach your industry?
12. WRITING A BUSINESS PLAN
MARKETING RESEARCH
… And now what?
Organise gained data
Identify potential gaps
Determine how you want to run your
business
Establish the level of business you expect
to achieve
13. WRITING A BUSINESS PLAN
MARKETING PLAN
It helps you to define the right service to offer to clients at the right price
The P+
Product
Price
U.S.P
Promotion
Preparation (equipment & material)
14. WRITING A BUSINESS PLAN
MARKETING PLAN
Product
Define your service
Language combination
Interpreting, translation etc.
Think about your previous experience & your skills
15. WRITING A BUSINESS PLAN
MARKETING PLAN
Price
Identify your position in the market
Value your skills
Take all expenses into consideration
Create your own price list
Define any special promotions (Free
quote, referral discount etc.)
Find the right balance
Refer to ITI/CIOL 2011 Rates &
Salaries Survey
16. WRITING A BUSINESS PLAN
MARKETING PLAN
Unique Selling Point
What sets you apart from the rest?
Ask your peers, lecturers, friends & family or existing clients
Outline benefits for your clients
Projected through the way you communicate
Always be loyal to your U.S.P.
17. WRITING A BUSINESS PLAN
MARKETING PLAN
Promotion
Set your targets when promoting
Outline your promotional mix
Set out a monthly timetable to promote your business
18. WRITING A BUSINESS PLAN
MARKETING PLAN
Preparation (equipment & material)
Be organised
Prepare folder structure
Have a simple and clear structure
Keep your work folder separate from the rest
Organise your work folder (client, service etc.)
Choose & assign codes to projects
Create a specific ‘glossaries & terminology’ folder for each client
19. WRITING A BUSINESS PLAN
MARKETING PLAN
Preparation (equipment & material)
PC & Tablet
Smartphone
Terminology management solutions
Dropbox & TeamViewer
Hard disk
Nitro Professional/ BCL
20. WRITING A BUSINESS PLAN
MARKETING PLAN
Preparation (equipment and material)
Prepare all templates
Create them in all your working languages
Don’t forget to spell check them!
21. WRITING A BUSINESS PLAN
FINANCES
Finances
Set a personal monthly budget
Plan for slow months
Regularly review your business activity
Keep a record of all projects, costs &
expenses
Produce a strategy to chase payments
It will help you to define your financial requirements and your financial structure
22. HOW TO FIND CLIENTS
Be proactive when researching
Use LinkedIn actively
Exchange ‘introductions’ with your connections
Send a message to new viewers (potential clients)
Collaborate with your peers
23. HOW TO FIND CLIENTS
Agencies
Consult ‘The top 100 Language Service Providers’ document by N. Kelly & D. DePalma
Use an introduction email
Keep it short and to the point
Use bold characters to highlight key words
Avoid ‘Dear Sir/Madam’ or ‘To whom it may concern’
Attach CV
Specify services, areas of expertise, qualifications, memberships
Include links to your website/LinkedIn profile/Twitter or FB page
Proofread it
Follow up with an email
Remind them of your availability
Attend agencies’ open days and let PMs know you
24. HOW TO FIND CLIENTS
Direct Clients
Identify international businesses
Speak to the right person
Contact PR, event and marketing consulting companies
Attend networking events
Events arranged by the Chamber of Commerce
Meet up (http://www.meetup.com/)
Check the schedule of events for exhibition centres
Use a marketing email
Present your service as a solution
List your service and your U.S.P.
Offer a free quote
25. RESOURCES
The Prosperous Translator. Advice from Fire Ant & Worker Bee
by Chris Durban
The Entrepreneurial Linguist. The business-school approach to
freelance translation by Judy A. Jenner & Dagmar V. Jenner
How to start your own business by Robert Ashton
Business Launchpad (http://www.businesslaunchpad.org.uk/)