How much money I need to start a translation business?
Successful translation businesses generate a lot of revenues and hence, profits. They continue to grow. Success comes upon success.
Sure, everything is so well planned from beginning. The office location search, premise set up, team creation, marketing lay out, so on and so forth. All these translate into money and costs.
You sit down and figure, starting a translation business will require considerable financial investment. We’re talking about the kind of money you don’t have in your own tabung or piggy bank. And the real banks out there are too stingy and too skeptical to loan you some start-up capital.
So does this kind of business really require a lot of money?
Not necessarily so. When we look at successful businesses, we tend to think they were able to attain that status because they began by pouring a lot of cash. If we study carefully, multi-billion dollar businesses such as Apple, Microsoft and even Facebook started with little money and initially operated either from the back of the house or in the college dormitory. These companies generated bigger capital as they achieved smaller goals, and eventually managed to raised millions in investment.
In other words, don’t play the big money game like those with deep pockets. At least, not yet. Of course, with limited budget, there are just too many limitations that may hinder your growth and success. However, the good thing about starting with small money is that, you keep the risk within control. With the right strategy, your business will grow, and will continue to do so, albeit at slower pace. The important thing is to generate positive cash flow.
If you read the article, How to Start a Home Based Translation Business, you will understand that a translation business can easily and conveniently created from your own place, running at your own convenient time. You will save the hustle bustle of paying the deposits, rent, utility bills, worker’s salary, local council fees and whatnot. It saves money, and minimizes your risk.