Responsible business owners, including freelance translators, know that businesses need strategy to stay afloat and grow. This has been the driving force behind the development of strategy and management as academic and practical disciplines. However, there is not much out there when it comes to applying big strategic thoughts and frameworks to small or even solo businesses.
Fascinated by strategy and especially the work of Michael Porter, in this presentation I am aiming at discussing a selection of powerful strategy frameworks that have helped thousands of businesses around the world find their place and determine their direction. Rather than just presenting the concepts, I will try to apply them to our translation profession, and in particular to freelance translation businesses.
In particular, I will discuss Michael Porter’s generic competitive strategies model, his five forces model, and finally, the value chain. You can expect a brief introduction to each of these models, my interpretation of how they apply to freelance translation and pointers as to how they can help with your own strategy and ultimately, business.
Marta Stelmaszak is a Polish and English translator and interpreter specialising in law, IT, marketing and business. She is a member of the Management Committee of the Interpreting Division at the Chartered Institute of Linguists and Head of the Marketing Committee at the International Association of Professional Translators and Interpreters. Marta is also a qualified business mentor, a member of the Institute of Enterprise and Entrepreneurs and the Chartered Institute of Marketing. In 2015, she has been selected by IPSE as one of top 15 freelancers in the UK and graduated from the London School of Economics and Political Science.
Marta runs the Business School for Translators, an online course and entrepreneurial blog for translators and interpreters and published a book. Marta is active on Twitter and Facebook, where she shares information related to the business aspects involved in being a translator and interpreter.