Beat the January Doldrums Starting Now
The holiday season is an interesting time in the freelance business cycle. For many freelancers, some much-wanted/needed time off turns into an unwelcome amount of down time when work is slow in January. Following are some tips on how to beat the January doldrums in your freelance business, starting now:
Tip 1: Work over the holidays if you need or want to. Many established freelancers may look forward to a holiday lull. And if you work with clients in Europe, they may all but shut down until about January 9, the first Monday after New Year’s. But especially if you’re just starting your freelance business (or if you need to bring in some more income before the end of the year), consider working over the holidays. This is an especially good time to land new clients, when all of a translation agency’s go-to translators are out of the office and they have no choice but to branch out.
Tip 2: Assign yourself some work for January. What do most freelancers do when work is slow? Panic. Assume that no client will ever call them again. What’s a better option? “Assign yourself” to those non-paying projects that (if you’re like me…) remain eternally on the back burner because they’re not due tomorrow. Demo some accounting software. Upgrade your website. Take an online course. Start researching a new specialization. Write an e-book. Pre-load your blog with 10 posts. The key here is to plan ahead, so that the “assignments” are in place when you sit down at your desk in the new year, and before panic mode sets in.
Tip 3: Do a marketing push ahead of your slow periods. The time to get on a client’s radar screen is before they need you. For next year, schedule a marketing push in early December, before your clients wind down for the holidays. For now, prepare a marketing push for the next big work slowdown (such as July and August, when a lot of clients and translators go on vacation). For example, write a warm e-mail that you can send to prospective clients; resolve to send at least three e-mails a day, starting two to three weeks before you expect your work volume to drop off. Check in with all of your current clients (anything in the pipeline that you might help with?) and prospect for some new clients.
Tip 4: Evaluate your business expenses. Many freelance translators spend *too little* on their businesses, in a way that can lead to stagnation. But it’s also important to look at what you’re currently spending, and where you could reallocate some money. This is especially critical if you tend to sign up for services that require a monthly fee, but then you don’t end up using as much as you anticipated. It’s also critical if you pay for big-ticket expenses such as health insurance or office rent. Otherwise, think about what expenses might make you happier and more productive in your work (an accountant? a better desk?) and allocate some money for those.
Along those same lines, the end of the year is a good time to rack up tax-deductible business expenses. For example, make sure to renew your ATA membership and any other professional association memberships before December 31, so that you can claim the business expense for this year. If you need office equipment or a new computer, Black Friday and after-Christmas sales are a great time to shop for deals. Software companies may even run end-of-the-year specials. In future years, you may even want to earmark some money to spend in December.
Tip 5: Plan a “think swap” activity with other freelancers. January is a great time for types of activities that seem like a good idea, but for which you never have time. Invite three or four (or more) other freelancers, block out a couple of hours, and pick a topic. Maybe you invite other people in your language pair and everyone translates the same passage before you meet, then you go over your translations together. Maybe you invite freelancers of various flavors and trade marketing ideas. Go over each other’s resumes or LinkedIn profiles. Practice interpreting using YouTube videos. The possibilities are pretty much endless, and in January you may actually have the time for some of them!
Thanks for reading, and happy translating!
Header image credit: MTT
Corinne McKay, CT, is an ATA-certified French to English translator and the current ATA President-elect. She specializes in international development, corporate communications, and non-fiction book translation. She is also passionate about helping beginning and established translators launch, run, and grow successful freelance businesses. Her book, How to Succeed as a Freelance Translator, has become a go-to reference for the industry with over 10,000 copies in print, and her blog, Thoughts on Translation, has been a lively gathering place for freelance translators since 2008. You can keep in touch with Corinne on Twitter @corinnemckay, or on LinkedIn.