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Friday, July 4, 2014

Professional translation services, some business plan guidelines

Business plans are crucial for the improvement of the business outcome and the gradual development of business objectives.  In the field of language services provision, making a business plan needs two basic requirements, among others: clearly defining competition and strengthening competitiveness.   Professional translation services are largely dependent on these two elements.  Almiaad Lingua has been devising business plans based on these key parts.  The idea here is that the rest of the components of the business plan are largely dependent on the definition of competitive you are in the global market.  It is widely known that completion in the translation services provision is extremely fierce. 

Defining competition entails analyzing the market of professional translation services provision and stating who the real competitors are.  Depending on the type and scope of action of the business provider, the competitors can be identified in relation to how fierce and important they are.  Almiaad Lingua operates onsite and online.  It provides office services through the offices and teams it has around the world in: UK (London & Leicester), UAE (Dubai & Abu Dhabi), Tunisia (Tunis), Canada, Oman, Saudi Arabia, Sweden, Libya, France, Germany, Russia, etc.    However, Almiaad Lingua also works online and provides translation, proofreading, interpreting legalization and localization from its websites to clients from all over the world.   In the definition of the key competitors, the ones operating from the hidden side are more eminent and should be given more importance in the analyses than those who work as translation agencies / companies.  

Among the hidden competitors of professional translation services online, there are the ‘free translation’ providers who are not real providers of free services.  They are only users of a fake catch phrase keyword for advertising purposes.  But, their presence online is strengthened through this technique.  Hence, their online presence is stronger and, more importantly, puts authentic translation service providers in back positions.  Also, there are free dictionaries and translation managers who play the role of fierce competitors.  Thus, the planning of our business activities and the study of competitiveness has to consider these main factors. 

Onsite competitors who operate outside the realm of web are more visible.  They are in fact addressed via the effectiveness and high standards of our professional translation services.  The views echoed in the clients’ feedback and words of mouth suggested within their social networks are very important as real testimonials.  However, even in real world translation competitors can be hidden.  Nowadays, many companies still prefer using internal translators to presenting tenders and requesting bids and quotations.  They tend to economize through the employment of full time staff or the hiring of some freelancers.  However, the limited expertise of individuals and their inability to handle large projects makes the choice very unlikely to satisfy their needs.

Based on the analyses of the different layers of competition, we make our business plans for each region, bearing in mind that localization is the key to going global in the field of professional translation services provision.  The more importance we give to the competition factor, the more effective the business plan becomes.  Its effective execution is dependent on the clarity of the study and it depth. 



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