Hello guys, today Sister Snow would like to talk to you about the inner rolls of the translation industry. And why we do translation services and only make a reasonable profit.
Translation industry is also a technology to eat the industry, although the translation software is very popular in recent years, but many occasions are still to be manually to deal with, that our side of the price is from 300 yuan a day to tens of thousands of dollars a day ranging from the charge gap, why would be so big, that of course, we all know that it is like the exhibition ah, or some of the more simple kind of accompanied tour ah, the price is relatively low, because the threshold is very low, many people can do it, and the translation industry is also a technology to eat the industry. Because the threshold is very low, many people can do. But more scarce languages, for example, you say Turkish simultaneous, originally Turkish is very scarce, plus will be simultaneous people will be even less, so his price received more than 10,000 yuan a day is very normal ah.
Then let's take a look at the positioning of the interpreter in the past few years, I started from the very beginning of the industry is also 300 yuan a day, but I am constantly to promote, including many of our partners are constantly to promote, and then have more experience, can hold higher this occasion. Can be more formal this kind of people, and emotional intelligence ah this kind of responsiveness, will determine your this charge. So a lot of partners, from the very beginning of the industry is three or four hundred dollars a day, and now receive three or four thousand dollars, or even five or six thousand dollars a day Oh, referring to the English ah, this is very very normal. So we have to keep getting better, we go to keep climbing, we keep improving ourselves, of course, our fees will continue to rise. But you see a lot of little guys in the industry, they don't go to refinement, they keep going to this, this several hundred dollars a day job, and then as they get older, it's true that they don't look good in the marketplace, and there's going to be less and less demand for this kind of demand for work. We can also see a large number of translators in their 30s and 40s who are unemployed in middle age, which is a very normal phenomenon. Unless you upgrade yourself, or you do the consolidation of resources like I do, there is really nothing to go on in this industry.
The second point is that we must always be at the forefront of the market. Even if you are the owner of a translation company, you must be aware of the current market conditions, maintain a keen eye for selection, and ensure that the matching resources meet the needs of your clients, as well as have an accurate grasp of pricing, or else it will be difficult to conduct business successfully.
The third point is that I've always believed that a reasonable profit is very important. Sometimes a client may feel that giving you a couple thousand dollars is acceptable for their budget. For example, they are willing to give you 3,000 dollars a day. However, as a translation company, you can't get low-cost translators just to make a high profit. It is perfectly normal to maintain a reasonable profit margin, but it is not sustainable to have a profit margin as high as 70%, such as charging $3,000 but sending out $800 people.
The reason our business has been good is because we charge relatively mid-range, not low-end. Low-end businesses have limited budgets, find poor quality personnel, and have a poor customer experience, which can lead to poor reviews and be unsustainable. As a result, we charge relatively high fees but pay our translators reasonably. For example, we charge 1,000 dollars and give the translators 700 to 800 dollars so that they feel normal and reasonable. Customer acquisition costs money, and daily publicity is also a time cost. If we charge $2,000 but only pay the translator $500, not only is it difficult to find good talent, but they will also feel it is unfair.
We need to find our balance and work hard every time to avoid situations where we constantly squeeze our employees and cause emotional breakdowns as some companies do. We only make a reasonable profit, targeting people who fit our aura and niche. Businesses that fall below that standard can choose not to do so. We can't make all the money in the world, we just need to make our share, enough to get by. Weak water, only take a dipper.
