Jianjun’s Blog

When a global financial turmoil evolves and businesses get credit pinch and many of them even collapse, cash is once more the king and everyone is cutting costs and craving for liquidity, companies surely will cut back translation budgets. 

Besides that, I insist that the best time (by ‘best time’ I mean a period in which online outsourcers and suppliers have almost ready-made mutual trust) for online translation marketing is going away if not completely over. ProZ as such a portal has met its bottleneck and now is struggling to keep up the revenue by reducing premium member fees to less than 60 USD/year for China-based translators and creating self-issued certificates or badges for paying members to attract new clients. 

Despite of the efforts, however, online clients probably will soon no longer trust anyone simply because she/he has a nice-looking picture, a glamorous profile or a flashy website. In a cyber translation outsourcing market where even certificates can be self-made or even faked, they will need to grab something concrete about that person, something they can prove as reliable, before contacting the freelancer. More and more wise outsourcers now know a simple rule: Established translators never lack jobs. So these translators are unlikely to stay online everyday looking for new clients and new projects and pay this fee or that fee to get job opportunities.

On the other hand, if a freelancer started earlier like from 2001 to 2005 (when many online swindlers hadn’t even realized there was a market that they could also easily cheat in), and if she/he could keep her/his good quality and hence had retained a good client base, she/he should not feel much pain during this hard time. Having a large client base is like investment diversification (although this strategy is not doing very well at this time in the financial world as the global markets and sectors plunge indiscriminately ;)) - there are always long-term clients giving you enough jobs. 

If you work as a freelancer, lowering per unit rates won’t bring you out of the mire. Instead, it will kill your translation skills until one day your quality is ruined and you can never get any good clients. The theory behind this is quite simple: to earn enough with low rates, one has to overwork and for long hours, and this results in unavoidable lower quality. After a time, when it has become a habit, the translator can no longer provide quality services and never get good rates. This is a vicious circle. 

Therefore, don’t worry about other people’s low rates. Keep your rates and quality and the client will come back when those guys fail them time and again. And also don’t worry about those clients (agencies) that only accept low-cost offers without caring about any quality, they are swindlers themselves and will be kicked out of business after a while. 

Freelancers are individual business entities and all businesses need a sound development and risk management strategy. If one has knowledge about these and the necessary mechanism in place, she/he will regret less when financial disasters happen and it is a lifetime’s job to learn from these experiences.