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Poll: Have you set an income target for your translation work in 2010?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 06:55
SITE STAFF
Dec 8, 2009

This forum topic is for the discussion of the poll question "Have you set an income target for your translation work in 2010?".

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A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629


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Ken Fagan  Identity Verified
Local time: 15:55
French to English
Yes, I have Dec 8, 2009

I bought myself a dartboard and placed it on a wall.

I then put various possible turnover (sales) figures on different parts of the dartboard.

I then walked several steps away from the dartboard, closed my eyes, turned my back to the dartboard and threw a dart over my shoulder, in the direction of the dartboard.

I then checked to see where the dart had landed on the dartboard.

[Edited at 2009-12-08 15:15 GMT]


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Mikhail Kropotov  Identity Verified
Russian Federation
Local time: 16:55
Member (2005)
English to Russian
+ ...
No, but curious Dec 8, 2009

I answered no. To those who answered yes: could you please describe the benefits *you* derive from setting an income target? Thanks!

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Jocelyne S  Identity Verified
France
Local time: 15:55
Member
French to English
+ ...
Sure Mikhail Dec 8, 2009

I aim to run an efficient business which leaves me time to enjoy life on the side. As such, I have to know what my "target income" needs to be in order for my business to run effectively.

When I know how much money I want to "take home" at the end of each month, I can then establish how much I need to earn per day/month/year to meet my target. I also add in factors like taxes, training, equipment renewal, professional expenses, vacation, etc. This is the information I use to calculate my rates.

With an income target, I know how much my time is worth and I can see how my business is running.

That said, it is just a goal - to be met or exceeded, we hope.

Best,
Jocelyne


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neilmac  Identity Verified
Spain
Local time: 15:55
Spanish to English
+ ...
No Dec 8, 2009

... and thank goodness I'm part of the majority so far.
As a man of action and devout Homer Simpsonite, the very mention of "target setting" and "obective stating" gives me the creeps. Too serious.
My business plan for 2010 is to keep muddling along as usual, try to stay happy and hope things do actually get better than they have been in 2009.


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Parrot  Identity Verified
Spain
Local time: 15:55
Member (2002)
Spanish to English
+ ...
No Dec 8, 2009

No danger projected for 2010. You see, my targets are on the down side; I know that if my tax base rises above a certain limit, I'll be paying too much. (Don't laugh, I've had painful experiences).

Ever-increasing targets are fine if you're covered by a corporate structure. But many people find other solutions, and the "balancing act" as regards targets may well be determined by this and other peripheral circumstances (mortgages, children, retirement...)


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Amy Duncan  Identity Verified
Brazil
Local time: 10:55
Portuguese to English
+ ...
No, and lol Ken! Dec 8, 2009

Having a "target income" would drive me absolutely batty. I would also find it self-defeating. I like to live a life of trust in (fill in the blank: God, a higher power, the universe, etc.) and that seems to work just fine for me. Sometimes the most unexpected and wonderful things happen.

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xxxInterlangue
Angola
Local time: 15:55
English to French
+ ...
Yes Dec 8, 2009

Does a target really need to be very precise?
Mine is "same as this year or close to - or better without slaving away completely", enough pay the bills, lead a decent life and have some left to take time off and travel.


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Anne Carnot  Identity Verified
Belgium
Local time: 15:55
Member (2009)
English to French
No! Dec 8, 2009

Ken Fagan wrote:

I bought myself a dartboard and placed it on a wall.

I then put various possible turnover (sales) figures on different parts of the dartboard.

I then walked several steps away from the dartboard, closed my eyes, turned my back to the dartboard and threw a dart over my shoulder, in the direction of the dartboard.

I then checked to see where the dart had landed on the blackboard.



Maybe I'll invest in one too, and make it a family game..
I'm moving towards the end of my first year as a freelancer, so my only target for next year is to earn more than I did this year, which should'nt be too hard as I've only started getting regular work in the past three months...


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Nicole Schnell  Identity Verified
United States
Local time: 06:55
English to German
+ ...
Yes Dec 8, 2009

Because our CPA needs this figure to calculate and to set up our quarterly tax payments.

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Gianluca Marras  Identity Verified
Italy
Local time: 15:55
Member (2008)
English to Italian
no, but Dec 8, 2009

being a freelancer you cannot say how much work you will be given.
So, my target is the same or a bit more than the previous year, which means work more efficiently, and see if I get more work.


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David Russi  Identity Verified
United States
Local time: 07:55
English to Spanish
+ ...
I may make this a yearly ritual Dec 8, 2009

Ken Fagan wrote:

I bought myself a dartboard and placed it on a wall.

I then put various possible turnover (sales) figures on different parts of the dartboard.

I then walked several steps away from the dartboard, closed my eyes, turned my back to the dartboard and threw a dart over my shoulder, in the direction of the dartboard.

I then checked to see where the dart had landed on the blackboard.


Thanks for the chuckle...


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Rebecca Garber  Identity Verified
Local time: 09:55
Member (2005)
German to English
+ ...
more than this year Dec 8, 2009

little vague, but it will do.

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David Russi  Identity Verified
United States
Local time: 07:55
English to Spanish
+ ...
My CPA Dec 8, 2009

Nicole Schnell wrote:

Because our CPA needs this figure to calculate and to set up our quarterly tax payments.


My CPA (me) just needs the previous year figure to calculate and set up my quarterly tax payments...

But seriously... for me the point is to make at least what I made the previous year, more if I can, so in that sense I reckon we all have a figure in mind.

That said, a sort of new year's resolution on income sounds odd to me...


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Ken Fagan  Identity Verified
Local time: 15:55
French to English
quit dragging your heels, David and Dec 8, 2009

send me your mailing address, so that I can ship you a dartboard, pronto.

It'll be tax-deductible for crying out loud!


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