Three Points to Consider When Prospecting for your T&I Business
I'm pretty sure I've never heard a freelancer say, "I don't want any new clients." But if this is you, it might be good to skip this blog post. Having a revolving door of clients means that you can sustain your business for the long haul, especially if you were to lose one of your anchor or highest paying clients. But, as can be the case, it's not always easy to attract one new client after another.
Sure, you can learn to reach out to agencies and direct clients. You can send out your resume, visit trade shows and events where your clients hang out, connect with potential clients online and in person. These are all good ways to attract new clients!
However, if you're not exactly clear about what kind of client is right for your business, it can be easy to simply continue taking on every job that comes your way from any prospect. This is a cycle we should all strive to break. When prospecting for new clients (or when a new prospect approaches you), there are some important factors to think about. Not everyone will be the right fit for you, and vice versa.
Here are three points I believe worth considering when prospecting for new translation or interpreting clients for your freelance business.
Only look for clients who pay more or the same amount you charge your current clients. If you're not happy with the rate you're currently charging, then it's time to search for clients and reach out to those who can (and will!) pay more. As you become busier with client work, it makes sense that you should only take on work from new clients who are willing to pay the same (if you're happy with that rate) or more than what you already make now.
Only look for clients who will respect your non-negotiables or "business standards". What am I talking about? Think about what is important to you for your business and your lifestyle. What hours do you want to work? What kinds of jobs do you want to take on? If you don't want to start working at night or on the weekend, then try to avoid clients who need quick turnarounds or require working extra hours to deliver a job on time. And if you're willing to take on the odd weekend of work, consider charging this client more to make up for missing out on time you could otherwise be spending with your family or friends. If you're tired of translating a certain type of document, or you no longer want to accept certain types of interpreting assignments, shy away from seeking out prospects who frequently offer them.
Only look for clients who can supply the kinds of jobs you want to do. This is related to #2 above. For example, if you are a legal translator and you would prefer to maintain a handful of clients who send you lengthier documents to translate so that you can really sink your teeth into the assignment and necessary research required, then it's best to avoid seeking the type of client who would only call on you to complete quick one-off projects once or twice a year.
Carefully consider those you reach out to before you take the time to do so. Avoid accepting a job simply because your inbox is a little sparse in a given week. Unless you need to make money quickly, accepting lower-paying jobs for less-than-ideal clients can set you up for more disappointment later on. By lowering your standards (and your rates), you are essentially letting a client know you are okay with fulfilling unrealistic expectations or being paid less. It will also be more difficult to change these expectations with this client down the road.
Remember that prospecting is something over which you have a considerable amount of control. You will receive what you put out into the world. So, if you portray yourself as being confident in the type of client you want to attract, it will happen. While it's important to make a habit of prospecting for new clients, it's also vital to recognize that not all new clients are created equal when it comes to meeting your business goals. Seek prospects who offer a mutually fulfilling business relationship and long-term collaboration, while allowing you to meet the goals you put in place for your freelance business
