Each industry has its specifics. But running a good business often comes down to following a narrow set of guidelines. Here are the 7 most important ones that are directly applicable to the management of a Translation Agency.
More and more projects keep coming. The deadlines are tight and getting tighter. It seems that regardless of how much effort and time you put into your work, there is no way you can come out ahead.
No translation agency can survive without their translators. They have a lot of pressure put on them to deliver on time and at high quality. It is thus very important to keep their motivation high so they treat your projects as a priority.
In the past, technical documentation used to be written like a book. The author tried to describe the product, its features, maintenance, repairs, etc. Each operating manual was slightly different.
You completed a whole stack of projects and got through a mountain of work. But at the end of the day the financial results do not reflect your efforts.
Today we deal with the absolute core of your business - managing vendors. Vendor management is one the most important tasks of a translation agency.
Is there any other way of winning a new client, other than by offering the lowest rates? I have spoken with dozens of translation company owners and I often ask them what their main current challenge is. Their answer comes back like a mantra, ”Price pressure!”.
The Vendor Database is at the core of any translation business operations. The way you handle it has great impact on your performance. Making full use of a database will guarantee both the best delivery time and quality. Mishandled, it will waste your efforts and cost you results.
There are two ways of growing business profits: increase sales and reduce costs. A wise reduction of costs is key to improving customer satisfaction, winning customer loyalty and growing your business in the long term.