Developing a Translation Business
Business Reality Check
The average consumer receives 3,000 commercial messages per day. Nowadays, it costs three times more to get 50% of the results achievable in the early days of advertising.
95% of businesses will never reach $1 million in annual sales. Only .08% will ever reach $5 million in annual sales. Very, very few will ever reach $10 million in annual sales. Only one business out 25 will last more than 25 years.
It's not the product or services that matter, it's the person and skills that make the difference. Pigheaded discipline and determination are key survival factors. Business people who survive are constantly working on their business, not in it.
Work on "impact" areas with great intensity. Becoming a master is not about doing 4,000 things, it's about doing 12 things 4,000 times.
Thoughts on Competencies
First [Translation Business] Competency
- Studies show that successful businesses are constantly focusing on the three Ps: Planning; Procedures; and, Policies.
- Put together a plan, develop and test the procedures and formulate policies.
- One hour per week on these activities can transform a company and its business.
Second [Translation Business] Competency
- Strategy versus Tactics — Know the Difference. The best of all worlds in business is to be a master strategist as well as a terrific tactician.
- Tactics: Placing ads in the newspaper and participating in trade shows are tactics.
- Strategy: Figuring out how to best achieve a desired outcome requires a strategy.
Third [Translation Business] Competency
- Get clients – You must apply a constant, concerted effort to this activity. Set standards for this activity: determine what is the least amount of time on a weekly basis that must be devoted to prospecting and never slip below that amount of time.
- Seven marketing weapons if you want to dominate your market: 1. Personal contact (the most potent); 2. Direct mail; 3. The internet; 4. Company brochures; 5. Public relations; 6. Educating clients (companies that do this dominate their market); 7. Advertising
Fourth [Translation Business] Competency – The Art of Sales
Seven steps to every sale:
1. Establish rapport (the best devote 40% of their time to this)
2. Finding the need (the best devote 25% of their time to this)
3. Build value
4. Create desire
5. Overcome objections (develop scripts; build a list of standard questions/objections)
6. Close the sale
7. Follow-up
Fifth [Translation Business] Competency – Time Management
- The biggest weakness of business owners is being indecisive.
- 20% of the time is being devoted to activities that produce results.
- 80% of the time is devoted to activities that do not produce results (i.e. little or no results).
- If you run a business by "got a minute" meetings, the business will always be small. Plan your day, your month and your year.
Sixth [Translation Business] Competency – Master the Telephone
- Hold weekly sessions to strengthen telephone skills.
- Four phone calls to double your business: call the dream 1000 prospects or clients. There's always a smaller number of ideal clients versus all clients. Use education=based marketing: teach people.
Seventh [Translation Business] Competency – Consistency
The secret to the Dream 100 Clients strategy is consistency. Pick a market and keep hitting it. Run a campaign and stay in the client-prospect's face every other week or once per month at least. Find out what words sell and use them repeatedly.
Eight [Translation Business] Competency – Visual Aids
Visual aids communicate an idea dramatically. Use Power Point presentations, web seminars and live seminars.
Ninth [Translation Business] Competency – Follow-up
Create a database with follow-up letters covering every conceivable circumstance and use them consistently. Follow-up by e-mail, fax or mailed correspondence quickly.
Tenth [Translation Business] Competency – Setting Standards and Training
- Set performance standards in every area of your operations, including sales and marketing
- Train all personnel in sales, marketing, public relations and client management. Do this regularly.
Eleventh [Translation Business] Competency – Setting Goals
- If it's not in writing, it's not a goal.
- Create a spreadsheet of your sales goals. Share the numbers with everyone involved in sales. Review the numbers regularly; at least once a month.
- Imagine your company where you want it to be. Make a mental image of where you intend it to be in one year, three years, five years, etc. If you can't imagine it, it's guaranteed not to happen.
Twelfth [Translation Business] Competency – Hiring
- Understand psychological profiling.
- Reject them before you interview them: pre-screen candidates on the phone – don't waste time doing face-to-face interviews with people who clearly don't make the grade during a telephone interview.
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Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth (Hardcover) by T. Harv Eker (Author)
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth – "Secrets of the Millionaire Mind" reveals the missing link between wanting success and achieving it!
 
In his groundbreaking "Secrets of the Millionaire Mind", T. Harv Eker states: "Give me five minutes, and I can predict your financial future for the rest of your life!" Eker does this by identifying your "money and success blueprint."
Have you ever wondered why some people seem to get rich easily, while others seem destined for a life of financial struggle?
Do you think that the difference is found in their education, intelligence, skills, timing, or their choice of jobs, businesses, or investments?
The surprising answer is: None of the above!
It has everything to do with your "financial blueprint". You can learn about this blueprint, AND permanently change it in order to start living a life filled with abundance--with ease!
T. Harv Eker is author of the #1 NY Times bestselling book, Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth , and his programs have changed the lives of hundreds of thousands of people all over the world.
In his book, Harv teaches you how to identify your "financial blueprint" which is our ability to be successful. This is often limited by how high your blueprint is set for, much like a thermostat limits the temperature in a room. Unfortunately, as I quickly learned, many of us have an extremely low blueprint due to the conditioning we received as children. It's no one's fault, but simply the way it is for so many of us.
But--and this is big--you can learn to RESET your blueprint for a higher level of success.
Do you remember the first time you tried riding a bike? It was hard, but after lots of practice and maybe a bit of falling down, you suddenly found your balance and began riding with ease. Well, that feeling of suddenly being able to ride is exactly how I feel about money since attending Harv's program. And I think you'll feel the same way after you've attended the Millionaire Mind Evening.
And the best part? Your only investment is a few hours of your time!
I know, I know. Believe me--I was skeptical at first too. You just have to attend in order to understand and you have absolutely nothing to lose. That's why I'm encouraging you in the strongest possible way to do whatever it takes to be at this event.
In this profound seminar you will learn:
- The hidden cause of almost all financial problems
- How your childhood conditioning is affecting you financially today
- How to RESET your financial thermostat for automatic success
- How to train your "mind" to work for you, instead of against you
Yes, I Want a Millionaire Mind!
Visit the Millionaire Mind Intensive website to get the most recent list of upcoming events.
Plus, at the end of the evening you'll receive a bonus worth over $2500!
By the way, if you can't attend one of the live evening events you can participate in a Millionaire Mind TeleClass from the comfort of your own home. The next TeleClass date is coming up very soon and we have two times to choose from - 4:00 p.m. Pacific time (7:00 p.m. Eastern) or 7:00 p.m. Pacific time (10:00 p.m. Eastern). Visit this link to reserve your space on one of these calls right now!
(NOTE: Be sure to check our website for a current event schedule.)
I hope you take advantage of this rare and amazing opportunity to transform your financial health — I did, and I'm glad.
Sincerely,
Benoit Comeau
P.S. The best way to experience the Millionaire Mind Intensive is live because that's where you get the actual changes to your blueprint. Here's the REGISTRATION LINK again.
Selection of wedotranslation-sponsored Translation Book Stores on Free Translation Classifieds:
∞ SPANISH Translation Bookstore
∞ CHINESE Translation Bookstore
∞ ARABIC Translation Bookstore
∞ FRENCH Translation Bookstore
∞ GERMAN Translation Bookstore
∞ JAPANESE Translation Bookstore
∞ PORTUGUESE Translation Bookstore
∞ RUSSIAN Translation Bookstore
∞ KOREAN Translation Bookstore
∞ ITALIAN Translation Bookstore
∞ HINDI Translation Bookstore
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