The ATA Chronicle - July/August 2018 - 21

FEATURE

BY AVI STAIMAN

person running it? Are our business
practices and working methods unique,
and could they conceivably be used by
someone else? Is it easy for someone
to see the value of what we've created
and to build upon it so the business
continues to grow? Taking the time
to think about these questions can
help reframe our understanding of
translation practices, the role translators
play in them, and their value to others.
By exploring how we create value
beyond ourselves, we can take on the
elephant in the room and learn how to
build our own businesses in a way that
can hold value to a potential buyer. The
first step is to think practically about
potential buyers.

If clients are only interested in
working with you, then there is
no way to continue providing the
same service with new ownership.

Going Once, Going Twice, Sold! Is
Your Translation Business Sellable?
The theoretical ability to sell one's business is actually a reflection of its
value to others. Here's how translators can add tangible value to their
services to make their business appealing to a potential buyer.

I

s my translation business sellable?1
Whether or not you have plans to sell
your business in the near future, this
question is very important and relevant,
and not just to those on the verge of
retirement. The theoretical ability to sell
one's business is actually a reflection
of its value to others. Therefore,
evaluating what others value about the
business will give you a better idea of
its potential selling points and the areas
that need improvement.

TAKING ON THE ELEPHANT IN
THE ROOM
Many translators have a hard time
separating themselves from the business
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they created. "I'm my company and
my company is me," some would say.
For those lucky enough, the day will
come to set down the keyboard and
retire. At this point, if the business
and the translator are inseparable, the
business may not be very valuable to
others. If clients are only interested in
working with you, then there is no way
to continue providing the same service
with new ownership. For this reason,
translators generally refer clients to a
trusted colleague or simply leave them
to fend for themselves.
But are we letting go too easily?
Is there a way to build a business so
that its value is not dependent on the

WHO WOULD WANT TO BUY
MY BUSINESS?
The key to answering this question is to
identify potential "interested parties" and
figure out what value your business could
provide them. If you can approach an
interested party with potential for growth,
they may consider buying your company
instead of trying to grow their own
organically. Here are a few suggestions for
where to start your search.
Fellow Translators: If you have trusted
colleagues who specialize in fields
similar to yours, it might be worthwhile
speaking to them to see if they have
any interest in expanding their business
through buying yours.
Boutique Translation Companies:
Smaller companies who are looking to
expand in your language set or field
of specialization.
Main/Secondary Beneficiaries:
Consider interested parties in your
industry who may not currently focus on
translation or editing, but may want to
add such services.2
American Translators Association

21
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Table of Contents for the Digital Edition of The ATA Chronicle - July/August 2018
