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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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Global Language Landscape Information  In a review dated June 2006, commonsenseadvisory.com estimated that the global market for outsourced language services (translation and interpretation) amounted to US $8.8 billion in 2005 with a projected annual of 7.5% reaching close to US $11 billion by the end of 2008. Broken down by region, the U.S. was estimated to represent 42% of the market at a projected 2008 volume of $4.592 billion, followed by Europe (41% or $4.482 billion), Asia (12% or $1.312 billion), and the rest of the world (5% or $547 million) — all figures in US dollars.

Related Items posted on the FreeTranslationClassifieds.com:

Overview of the Global Language Landscape, Number of Internet Users and Languages in Use on the Worldwide Web

As of June 2008, approximately 1,463,632,361 people worldwide were using the Internet, according to Internet World Stats. Current and accurate data, with respect to internet usage, is somewhat elusive given the rapid growth and spread of the internet. However, useful data can be gleaned from information available in the CIA World Factbook. We feature selected data taken the CIA Factbook on the following Free Translation Classifieds categories: Translation Agencies and Translation Firms. We have listed data by commercial geographic areas in those categories, namely North America; Europe; South America; Asia; and, the Middle East. The figures are segmented for each country listed by total population numbers, languages spoken (numbers and percentages, where available) and number of internet users. The number of countries listed as well as the scope of the data was limited to markets offering commercially viable critical mass.

See Complete Details:
The Global Language Landscape — Languages in Use on the Internet

Selection of wedotranslation-sponsored Translation Directories on Translation Classifieds:

∞  Global Directory of Online Dictionaries & Terminology

∞  Global Directory of Translation Associations

∞  Global Directory of Translation Schools

∞  Selected Listing of Online Translation Tools

∞  Directory of Translation Directories, Guides and Portals

∞  Directory of Open Source and Machine Translation Software

Translation Performance Commitment  Our Quality Assurance Means Peace of Mind guarantee is the cornerstone of our commitment to deliver services of the highest quality at competitive pricing within agreed upon deadlines. Our work is not done until the work is approved by our clients and they are completely satisfied.

The most important words in our customer service language....

We assist clients from across North America and overseas. View descriptions of typical translation, proofreading and editing assignments: Sample translation projects.

Full Privacy and Absolute Confidentiality is assured.

Business Website Translation  Website Translation and Localization Services for human resources department information: We have substantial expertise in the translation of website content. However, our website translation service goes well beyond the translated word. We approach website translation assignments with localization considerations in mind: cultural adaptation (appropriateness); target audience(s); search engine optimization (SEO).

Our objective is to ensure that your translated website is effective in reaching its intended audience, delivers your business message strongly and succinctly, projecting a credible professional image while protecting your reputation.

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PowerPoint File 
Legal Translation
  Our PowerPoint presentation translation service is for the translation of information that is set up in Microsoft's software application (i.e. documents with a .ppt suffix). The subject-matter of these PowerPoint presentations that require translating is as diverse as the number of people using the application.
Our translators are equipped with the software and translate the information directly within the application. The finished product is delivered in PowerPoint without additional formatting.
  We assist organizations with legal documentation that requires accurate translation, such as, but not limited to: Contracts, Transfer Agreements, Certificates of Accuracy, Witness Statements, Depositions, Affidavits, Sworn Statements, Trusts, Wills, Articles of Incorporation, Legal Decisions, Court Transcripts, Litigation Documents, Immigration Documents and, Evidentiary Documents.

Related Topics: Collective Bargaining Documents; Employment Contract Translation; Alternative Dispute Resolution (ADR) Documents Translation; Arbitration Documents Translation.

  Our proofreading service consists of reviewing any text for errors hard copy (written documentation) or electronic (e.g. websites, MSWord files, PowerPoint files).The types of errors we look for include: missing words; typos; spelling mistakes; formatting errors; missing or bad punctuation; etc.

The proofreading service is combined with light copy-editing: checking for grammar; improper language usage; run-on sentences; consistency issues; etc. Our objective is to improve the formatting, style and accuracy of your written material without changing the content.

We provide document & manuals translation services to business and industry in a city near you:
USA: Akron; Albany; Albuquerque; Anaheim; Anchorage; Annapolis; Arlington; Arlington County; Atlanta; Augusta (GA); Augusta (ME); Aurora; Austin; Bakersfield; Baltimore; Baton Rouge; Billings; Birmingham; Bismarck; Boise; Boston; Boulder; Bridgeport; Buffalo; Burlington; Carson City; Casper; Chandler; Charleston (SC); Charleston (WV) Charlotte; Chesapeake; Cheyenne; Chicago; Chula Vista; Cincinnati ; Cleveland; Colorado Springs; Columbia; Columbus; Concord; Corpus Christi; Dallas; Denver; Des Moines; Detroit; Dover; Durham; El Paso; Fargo; Fort Smith; Fort Wayne; Fort Worth; Frankfort; Fresno; Garland; Gilbert; Glendale; Greensboro; Gulfport; Harrisburg; Hartford; Helena; Henderson; Hialeah; Honolulu; Houston; Huntington; Indianapolis; Iowa City; Irvine; Jackson; Jacksonville; Jefferson City; Jersey City; Juneau; Kansas City; Lahaina; Lansing; Laredo; Las Vegas; Lexington; Lincoln; Little Rock; Long Beach; Los Angeles; Louisville; Lubbock; Madison; Manchester; Memphis; Mesa; Miami; Milwaukee; Minneapolis; Modesto; Montgomery; Montpelier; Nampa; Nashville; New Orleans; Newark; New York City; Norfolk; North Las Vegas; Oakland; Oklahoma City; Olympia; Omaha; Orlando; Philadelphia; Phoenix; Pierre; Pittsburgh; Plano; Portland (ME); Portland (OR); Providence; Raleigh; Reno; Richmond; Riverside; Rochester; Sacramento; Saint Paul; Salem; Salt Lake City; San Antonio; San Diego; San Francisco; San Jose; Santa Ana; Santa Fe; Scottsdale; Seattle; Sioux Falls; Springfield; St. Louis; St. Petersburg; Stockton; Tallahassee; Tampa; Toledo; Topeka; Trenton; Tucson; Tulsa; Virginia Beach; Warwick; Washington; West Valley City; Wichita; Wilmington; Winston-Salem; Worcester
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