n 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
Links to items mentioned in this episode:
- Gwenydd’s blog
- The Translator’s Studio
- Toggl (free online stopwatch and project timing tool)
- Gwenydd’s Webinar “Getting Your Prices Right” on Proz.com
- Tess’ Webinar “The Price is Right – Pricing Strategies for Your Translation Services on ECPD Webinars
Get this checklist with 8 questions to an optimized pricing strategy for your freelance business
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Gwenydd Jones is a freelance translator, trainer and translator coach, based in Spain. A language and translation enthusiast, these disciplines have come to form part of her lifestyle. After starting out as an English-language teacher in 2003, she expanded and evolved in her career towards translation, while maintaining strong bonds with her roots in education. Along the way, she picked up two MAs, the first in Translation Studies and the second in Legal Translation, and passed the DipTrans (CIOL). A full-time freelancer since 2009, Gwenydd draws on her professional, academic and linguistic experience to assist other translators and translation students in their professional development.
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