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Poll: Do you have a written business plan? Thread poster: ProZ.com Staff
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This forum topic is for the discussion of the poll question "Do you have a written business plan?".
View the poll results »
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David Wright 
Austria
Local time: 15:25
German to English
+ ...
(or do you mean "I plan to work until I retire/win the lottery/marry a rich widow?)
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inkweaver
Germany
Local time: 15:25
French to German
+ ...
exactly would be the use of having a written business plan?
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Kitty Brussaard
Netherlands
Local time: 15:25
Member (2009)
English to Dutch
+ ...
A written business plan is usually required in order to obtain financing from banks or similar business loan providers. Apparently, most translators participating in the poll run their business on a self-financed basis.
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Julian Holmes
Japan
Local time: 22:25
Member (2011)
Japanese to English
It's in my head. I even dream about it:
MAKE MORE MONEY!
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Stephen McCann
Spain
Local time: 15:25
Member (2003)
Spanish to English
+ ...
My business plan is: "Translate. Get paid". No need to write it down (until now).
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John Cutler
Spain
Local time: 15:25
Spanish to English
+ ...
Stephen McCann wrote:
My business plan is: "Translate. Get paid". No need to write it down (until now).
That about sums it up for me too.
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neilmac
Spain
Local time: 15:25
Spanish to English
+ ...
LOL! A what now?
Am far too busy actually working ...
I live in Spain, and the only way to "obtain financing from banks or similar business loan providers" nowadays is to burst in with a shortgun and balaclava.
[Edited at 2012-09-05 09:57 GMT]
(shortguns are much nicer than shotguns)
[Edited at 2012-09-05 09:58 GMT]
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| Yes, but it's about 1/3 of a page long | Sep 5, 2012 |
Hello,
I do actually still have a very formal business plan from when I started out, because I applied for and received funding for starting my business. It was a very helpful process and I would certainly recommend something along these lines to everyone.
My current written business plan, however, consists only of:
(1) a goal for my average earnings per word
(2) my goal for earnings per paid hour of work
(3) number of words I have to translate per ho... See more Hello,
I do actually still have a very formal business plan from when I started out, because I applied for and received funding for starting my business. It was a very helpful process and I would certainly recommend something along these lines to everyone.
My current written business plan, however, consists only of:
(1) a goal for my average earnings per word
(2) my goal for earnings per paid hour of work
(3) number of words I have to translate per hour when charging at various rates
(4) my goal for total number of hours of work next year
(5) my goal for number of paid hours among total hours of work
(6) goal for annual earnings
(7) goal for annual profit
(8) list of regular clients and market segments that are below my current goal for average earnings per word or hour
The key is then to actively record how much time I need for each translation and for individual stages of the translation process - and I have to admit that I often end up simply losing interest in recording the data. However, I try to record at least half of my jobs.
The point is then also making sense out of the data that my accounting software does a decent job of gathering and sending out advertising material to the customers that it says I ought to pursue. Here again, because things are going OK, I don't do anything vaguely resembling what I ought to - but hope springs eternal.
Sincerely,
Michael ▲ Collapse
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Thayenga
Germany
Local time: 15:25
Member (2009)
English to German
+ ...
John Cutler wrote: Stephen McCann wrote:
My business plan is: "Translate. Get paid". No need to write it down (until now). That about sums it up for me too.
It does indeed. So instead of spending my time writing a business plan I spend it on...doing business.
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Michael Harris
Germany
Local time: 15:25
Member (2006)
German to English
did have one years ago, but only so that I could get government funding
Have not seen it since then ....
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Parrot
Spain
Local time: 15:25
Spanish to English
+ ...
Unless you can call 6 lines of Excel a business plan.
Tax laws over here require following certain statistics. For instance, as of last count, I've changed status from Liberal Professional to Exporter
But it's all more or less about what Michael says. Only, I don't call them "goals" but projections. For orientation purposes.
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John Cutler wrote: Stephen McCann wrote:
My business plan is: "Translate. Get paid". No need to write it down (until now). That about sums it up for me too.
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DianeGM
Local time: 16:25
Member (2006)
Dutch to English
+ ...
To what Neilmac said ... except I'm in Greece and the same applies here
... shortguns may even become popular here too.
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William Murphy
Italy
Local time: 15:25
Member (2009)
Italian to English
+ ...
neilmac wrote:
(shortguns are much nicer than shotguns)
They're much easier to conceal too.
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