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Poll: In your experience, what has been the best way to increase your income?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 05:10
SITE STAFF
Oct 15, 2013

This forum topic is for the discussion of the poll question "In your experience, what has been the best way to increase your income?".

This poll was originally submitted by Alan Corbo, CT. View the poll results »



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DianeGM  Identity Verified
Local time: 15:10
Member (2006)
Dutch to English
+ ...
Other Oct 15, 2013

Not necessarily more, but higher paying clients

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Heather McCrae  Identity Verified
Germany
Local time: 14:10
Member (2012)
German to English
All Oct 15, 2013

all of the options
plus improving expertise in your subject areas, learning new subjects, etc.


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Teresa Borges
Portugal
Local time: 13:10
Member (2007)
English to Portuguese
+ ...
Other Oct 15, 2013

To build up a good base of loyal clients who pay well, on time and come back for more…

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Chris S  Identity Verified
United Kingdom
Member (2011)
Swedish to English
+ ...
+1 Oct 15, 2013

DianeGM wrote:

Not necessarily more, but higher paying clients


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Julian Holmes  Identity Verified
Japan
Local time: 21:10
Member (2011)
Japanese to English
+1 more Oct 15, 2013

Chris S wrote:

DianeGM wrote:

Not necessarily more, but higher paying clients


Which implies shedding lower paying clients at the same time. Higher payment for the same time and effort = nice equation


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Alexander Kondorsky  Identity Verified
Russian Federation
Local time: 15:10
English to Russian
+ ...
getting more higher paying clients Oct 15, 2013

I never understood the notion of "charging higher rates." One cannot self-willingly begin charging more for his or her work. Rate is something agreed upon between a buyer and a seller and is market-determined. But one can be looking for higher-paying clients!

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neilmac  Identity Verified
Spain
Local time: 14:10
Spanish to English
+ ...
Ditto Oct 15, 2013

Teresa Borges wrote:

To build up a good base of loyal clients who pay well, on time and come back for more…


I haven't had to worry about increasing my income for a few years now. As long as I earn enough to keep my bills paid and allow myself the odd indulgence, I'm satisfied.


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Enrico Zoffoli  Identity Verified
Italy
Local time: 14:10
Member (2013)
German to Italian
+ ...
Other Oct 15, 2013

getting new clients AND making sure they will outsource work to you on a regular basis.

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Chris S  Identity Verified
United Kingdom
Member (2011)
Swedish to English
+ ...
??? Oct 15, 2013

Alexander Kondorsky wrote:

I never understood the notion of "charging higher rates." One cannot self-willingly begin charging more for his or her work. Rate is something agreed upon between a buyer and a seller and is market-determined. But one can be looking for higher-paying clients!


Yes you can! Each year I tell my customers that my rates have gone up, take it or leave it. Simple as that!


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Gudrun Wolfrath  Identity Verified
Germany
Local time: 14:10
English to German
+ ...
Not charging higher rates means Oct 15, 2013

charging lower rates in the long run due to inflation. So you have to renegotiate.

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tilak raj  Identity Verified
India
Local time: 17:40
Member (2012)
English to Panjabi
+ ...
Agree With Diane GM Oct 15, 2013

DianeGM wrote:

Not necessarily more, but higher paying clients

Native clients are not higher payer in india. Due to currency differences, Foreign clients are more beneficial.


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Mario Chavez  Identity Verified
Local time: 08:10
English to Spanish
+ ...
Ah, another rate-induced discussion Oct 15, 2013

When I was a young whippersnapper translator in Brooklyn, NY (circa 1992) I didn't have to promote myself; my new clients did it for me, and one or two generous colleagues who shared their clients with me.

By 1995, I had dozens of clients for translation and business interpreting jobs. I lost half of them when I moved to Southern California (no more business interpreting jobs).

I remember asking one of my mentors, Leticia Molinero, what to do to replace lost clients or low-paying clients. In my mind, I guess I imagined I could persuade them back to paying higher rates.

“Find new clients,” she told me.

Best advice ever.

Almost two decades later, I find myself not with 50 clients but with a couple dozen clients who pay reasonable rates...and one contract client who pays gold hourly rates. I'm buying a house next year.


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Venkatesh Sundaram  Identity Verified
India
Local time: 17:40
Member
German to English
Other - combination - specialise, marketing + get higher paying clients, use location advantages.... Oct 15, 2013

The "best way" has not been a constant. What worked well at one time did not work well at some other. At various times in my career I've done different things to increase my income including
- specialising in certain fields (implying investments too)
- putting effort into marketing myself
- finding higher paying clients
- using my location (and time zone) to good advantage
I'm sure other colleagues have tried other combinations too


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Catherine Pawlick  Identity Verified
United States
Local time: 15:10
Member (2010)
Russian to English
+ ...
agree Oct 15, 2013

Alexander Kondorsky wrote:

I never understood the notion of "charging higher rates." One cannot self-willingly begin charging more for his or her work. Rate is something agreed upon between a buyer and a seller and is market-determined. But one can be looking for higher-paying clients!


THIS.


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