Hi Reader,

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This month, I wanted to talk about setting goals and finding a freelancing goal that brings you joy AND money. I'm a big believer in getting both: after all, I went from being an employee to being a freelancer to figure out what I wanted, and then from freelancer to agency owner to have the freedom to set up several projects based on my interests.

To be able to find the right formula for YOU, you need to have a clear idea of what you want and then test if there's a demand for it. In my blogpost I shared 2 weeks ago, I discussed how to do that: how you go from an interest to a sellable service people are willing to pay for. If you haven't read it yet, you can find it here: https://courses.translationbusinessacademy.com/blog/passion-goals​

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Today, I want to take this one step further. When you've applied the process I've described in the blogpost, you may have a short list of services that you like and that could bring in money. But not all services are created equal.

There are 4 categories your potential services could fall under:

1. Passion without money: it's something you'd love to do, but you can't ask for a good rate and even with a low to medium rate, it will be hard to find clients. Example: translation for animal welfare organizations such as cat shelters.
2. Mass market: you can only ask for a low to medium rate, but you can get a lot of work. Example: post-editing, translation projects with big volume.
3. Premium niche client: you can ask high rates, but not that many clients are seeking what you offer. Example: translations on nuclear energy technology.
4. Top dollar: you can ask high rates and there are many potential clients willing to pay. Example: financial translations.

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Needless to say, the first category isn't sustainable. The other 3 categories are. The fourth category may sound better than 2 or 3, but your choice really depends on your preferences. Developing expertise and marketing skills is great if you have the interest and motivation, but it not, don't forget Ikea is mass market too and look how successful that is.

Now I'd like to challenge you: if you're wondering if you made the right choice with a specialization or you're considering where to go with your freelancing, try the exercise from my blog post and then put your ideas in the categories above.

I'm already wondering how that will go for you, Reader. Let me know by replying to this e-mail!

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Good luck!

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Sara

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