| Pages in topic: < [1 2] | Off topic: Waiting "MIA" game: How a freelancer can afford waiting for large debts? Thread poster: DZiW (X)
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DZiW (X)
Ukraine
English to Russian
+ ...
TOPIC STARTER | -X - Y - (Z)n < < 0 (let alone when the skills and efforts are zero factors) | Aug 27, 2019 |
@Maxi, these ideas are not mixed for they are but the very same thing, yet in a little different scales. And while most "alternative businessmen" seem to not care/not aware of risk management and good practice even for a single project, my focus is on those who do keep working for the debtors, accruing the overdue debts: Why and for What? Absurd.
@Kay, if you would open a dedicated topic about success pre/requisites and criteria, I would surely mention very low ... See more @Maxi, these ideas are not mixed for they are but the very same thing, yet in a little different scales. And while most "alternative businessmen" seem to not care/not aware of risk management and good practice even for a single project, my focus is on those who do keep working for the debtors, accruing the overdue debts: Why and for What? Absurd.
@Kay, if you would open a dedicated topic about success pre/requisites and criteria, I would surely mention very low entry barriers, little to no hands-on exp in non-translation/practical areas, CAT/MT hypes, inability to plan and set specific goals--not to mention the iconic fear of modifying the terms or simply rejecting shady offers; even lack of communication skills and the rest what naturally fates such wannabe-entrepreneurs to making peanuts and limiting a freelancer's (businessperson + specialist) chances--until going down.
Even ignoring low rates, funny terms, and frequent downs, those rare "success" cases ($3000+ a month NET) clearly demonstrate who is a real/serious businessman and who is just a newbie for pocket money or merely a flexing hobbyist. A tree is known by its fruit.
Unlike many agencies taking strict measures and selling debts to collectors, most freelancers are initially no businessmen, nor will ever become, alas. Or you might really happen to know a couple of good reasons to get into troubles--at your own expense--and keep working for debtors, hoping to recover at least some 15-40% of the GROSS? Only if once--just joking. ▲ Collapse
| | | | | "Rare" cases | Aug 29, 2019 |
DZiW wrote:
...those rare "success" cases ($3000+ a month NET)...
Just curious, do you think those cases are really rare? If so, what gives you the impression?
| | | | DZiW (X)
Ukraine
English to Russian
+ ...
TOPIC STARTER | Come-what-may approach -vs- Define success on *your* own terms | Aug 29, 2019 |
Hello Mirja--I admit that very low entry barriers and low business awareness (poor planning + poor risk management + poor diversification + low rates + low competitiveness + inability to communicate as an equal biz party...) makes the situation look rather gloomy, but it's so only for those who cannot achieve the set goals by their own rules.
And how exactly they could reach for a well-deserved* success?
First, a rough estimation shows that to earn... See more Hello Mirja--I admit that very low entry barriers and low business awareness (poor planning + poor risk management + poor diversification + low rates + low competitiveness + inability to communicate as an equal biz party...) makes the situation look rather gloomy, but it's so only for those who cannot achieve the set goals by their own rules.
And how exactly they could reach for a well-deserved* success?
First, a rough estimation shows that to earn ($3000×12 months=) $36000 a year NET one should get about 1/3 (33%) more as taxes, totaling ($36000+$12000=) $48000 GROSS.
Second, while a $0.10/word 'standard' (theoretical) rate may seem ok, a quick search reveals it's not so pretty and 'recommended' -75% fuzzy/repetition "discounts" can easily turn it into $0.0125/w FLAT or even LESS--with very serious consequences.
Third, considering a fraud proliferation and low risk management, little wonder such entrepreneurs may lose one-two-three months' work at a wink.
Fourth, it appears rather many businesspersons don't know how to manage and compensate direct and overhead expenses.
Now you count
In all, being far too shy to diversify their income sources (let alone make better rules for themselves) and working with agencies (read: losing 45%-80%) most freelancers are--of course-doomed to "part-time". Why, in some counties like Ukraine for most even $1000 GROSS would be like a blessing, yet that's a different story.
P.S. There're a few interesting cases at the ProZ and a few other sites, yet I personally have never met a "pure" freelance translator earning $3000+ a month NET, alas. Have/are you? ▲ Collapse
| | | | Dan Lucas 
United Kingdom
Local time: 15:45
Member (2014)
Japanese to English
| Possible but unlikely | Aug 29, 2019 |
DZiW wrote:
P.S. There're a few interesting cases at the ProZ and a few other sites, yet I personally have never met a "pure" freelance translator earning $3000+ a month NET, alas. Have/are you?
If you operate in a pair with plenty of flow and you have a specialisation that commands decent rates, I think a six-figure (USD) income is certainly possible. You'd have to work quite hard I think, because of the intrinsically lumpy nature of translation work flows - 5k words one day, 500 words the next, then 8k the day after that. And most people who make that sort of money probably don't hang out on ProZ.
But I agree with you that most freelancers are unlikely to be making $48k gross.
Regards,
Dan
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Kay Denney
France
Local time: 16:45
French to English
DZiW wrote:
those rare "success" cases ($3000+ a month NET)
That may be your definition of success, it certainly isn't mine. My idea of success is to earn enough money to cover my needs and have enough time left over for my various other creative projects, volunteer work, sport and general chilling. I dare say I could earn $3000+ a month NET every month if I put my mind to it. Like, I could specialise in better paying finance and legal. But for me, success is not about figures but feelings. I feel better doing translations on subjects I find fun or interesting, and also doing other stuff that isn't work. That doesn't make me a failure, thank you. In fact it's a life with a healthy balance between work and leisure with built-in burn-out prevention.
| | | | DZiW (X)
Ukraine
English to Russian
+ ...
TOPIC STARTER | Some 1521,22 EUR/month and thought for food | Aug 30, 2019 |
Kay, I'm glad you can meet all your demands, yet living in a developed country and earning less than a McDonald's guy (under $15,000/year) still seems to me more of a hobby.
Certainly, there're many familiar entrepreneurs monthly earning $3000+ net, but translation is not their only or breadwinning tool, just an auxiliary instrument.
However, this topic is not about the fact many free*lancers [are forced to] accept unfavorable rates and terms <... See more Kay, I'm glad you can meet all your demands, yet living in a developed country and earning less than a McDonald's guy (under $15,000/year) still seems to me more of a hobby.
Certainly, there're many familiar entrepreneurs monthly earning $3000+ net, but translation is not their only or breadwinning tool, just an auxiliary instrument.
However, this topic is not about the fact many free*lancers [are forced to] accept unfavorable rates and terms [because of poor communication or biz skills], requiring even more time and efforts to earn for living, but rather about a neglect or abuse of the common sense--a lack of risk management, when translators keep working for debtors and almost deliberately put a big minus before the ever-growing unpaid amount overdue in vain. ▲ Collapse
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