CHAPTER 7 – PROFITABILITY IS THE KEY

INTRODUCTION

Pricing and profitability are the cornerstones of self-employment. This chapter takes a hands-on approach to self-employment and gives you food for thought. These are things even the most experienced translators reflect on, as well they should, because of the ever-changing nature of our field. Generally, the purpose of working is to earn a living. If you can’t make ends meet, you should consider your options for rectifying the situation. Hopefully this chapter will provide some assistance.

This chapter will not, however, present any profitability calculation models, as there are plenty of up-to-date and ready-to-use templates available on the internet. Choose the one that best suits your needs or create one for yourself in Microsoft Excel, for example.

Contents of Chapter 7:

Rates and Profitability

Price Level

Price Image

Advance Payments

Translating Pro Bono?