How to Start a Translation Service Business in Bangladesh
Start a Translation Service Business in Bangladesh
Translation service business in Bangladesh can be a great business opportunity if you’re fully fluent in at least two languages. So, you’re not alone if you’re looking into a translation business and there are many people are already in this busies.
You just need to determine the set of language that you’ll offer for the translation service. However, it requires being fully fluent in all languages for which you translate as a freelance translator. Moreover, you must know the cultural references, slang, terminology, and exact word connotations.
And there are options to operate it as a solo or manage a group of translators when you’re not a translator yourself. And it may be more profitable to specialize only in those languages if you’re fluent in a language combination that is in demand.
Why Start a Translation Service Business in Bangladesh
As it’s said that there is a good chance for the freelancer to start a translation service business. And the freelancers of Bangladesh can grab the chance because there are thousands of freelancers where each year growing new. The new freelancer can start this business as there are higher competitions in another niche.
Also, there is a great demand for the translation services across the world. This is because not only the low startup costs but it has a growing demand for translation service worldwide. Also, as you can work via the Internet, you can setup it in your home. Although you have the potential to make significant profits, the overhead costs are very low. Moreover, when you’re in this business, you’ll find a very broad target market, including legal, commercial, medical, technical editing, interpretation and more.
Steps to Start a Translation Service Business in Bangladesh
It’s important to choose industries or types of translation to specialize in when you’re in a translation service business. If you create templates for yourself for commonly used words and phrases then it’ll allow you to be more fully versed in a specialized jargon of those fields. As there are personal lifestyle benefits, more and more people turning to freelance translation services. But, it’s not as easy as you’re thinking about. You need not only a good planning but must have patience and hardworking mentality if you want to get the highest success. Well, let’s know
First Step: Business plan
Yes, it’s the first and foremost step while starting a translation service business in Bangladesh. Although it seems a daunting task, without it you won’t even have a rough idea of what to expect in the first months of trading.
That’s why you can’t go to the business without a solid business plan; even it’s just for your own. This is because you will have a clearer picture of what you are trying to achieve and by when if you have a detailed business plan. Not only for a well set up of your business but it’ll you a feeling of direction. Read more: Easy-to-Start Business Ideas in Bangladesh
Second Step: Know your specialty
The term ‘specialty’ just not indicates expertise in the language rather it comes with a combination of a wide cluster of different things. It’s very vital to find out which language you should choose and which you want to focus on. There are some of the requirements like a specific training or education and certification. Suppose, if you’re unfamiliar with the law and legal terminology then it would not be wise to promote yourself as a translator of complex legal documents. Moreover, you’ll find that most translators choose basic translation with a few specialty areas. That’s why you must know what your specialty in the translation service and do accordingly.
Third Step: Business marketing
When you’re in the marketing step, you need to get a clear and well-written website. Addressing the problems of your specific type of clients, tailor your marketing messages. Also, you need to explain how you will solve those problems better than your competitors can.
Suppose, if you hold a degree in biology and can, therefore, be consistently accurate with scientific terminology then let your medical journal customers know. And make sure you take time out for marketing to future customers when you are busy with work. This is the reason for being the business marketing essential for the translation service business.
Fourth Step: Business portfolio and testimonials
When you have not done much translation work yet, this is tough for you. So, if you want to get items for your portfolio and to gather testimonials about your work, you have to do a bit of pro bono work. In this case, it’ll be better instead of taking on low-paying, low-quality jobs. As you really want higher end gigs and clients, this puts you in a category of “bargain basement” work. This way when your portfolio is much heavier, you’ll get more tasks to do. That’s why a business portfolio and testimonials are important for your translation service business.
Fifth Step: Business Setup
You’ll need not a stationed office location until you start in the big size of the translation service business. But, you must arrange all necessary license and legal documents. These include trade license, TIN certificate, etc. Also, a catchy business name can be a plus either you want or not. Moreover, not only you should develop a pricing schedule but need a standard contract for services as well.
The best practice is to place you in the middle of existing pricing of others and services to establish pricing. But, you should be patient because you’ll not be a viral, overnight success. You’ll build your business with steady work and with good motivation.
Sixth Step: Categorize Your Business
Whether you want to bring others in to help you or doing all of the translating yourself, you need to decide it. And you can translate only your native tongue and the additional language or languages you speak if you want to keep your business small and simple. So, you’ll only take on the work you can handle alone in this case. But, hire other translators fluent in additional languages if you would like to have a larger business.