I resigned from my former job and begin to prepare my international trade business. Since it probably will take me a lot of time before I make a profit, I also provide language interpretation/translation service. People from time to time calls me or email me to ask my rate. After I told them my rate, most of them didn't contact me any more. One customer gave me a counteroffer but I thought it was too low, so I didn't accept it. So far I ended up with zero revenue for more than one month after I left my job.This time a customer contacted me and he gave me his counteroffer which was much lower than the previous counteroffer. I feel outraged.I think it is a shame to accept such a low price, but if I don't accept it, I won't have any revenue. I am under huge financial pressure and I need to make some money to alleviate it. I feel my peers or friends will look down upon me if I accept such a low offer. What should I react now? I feel so ambivalent about it. I don't want to sell me short, but it seems that I have to. Please suggest
As I see it, you have two problems:
The second problem can be addressed by finding a reason why this particular contract is unique and you are therefore prepared to discount your normal rate. e.g.
The idea is that the client should know that they are getting a bargain, that they shouldn't expect to pay the same rate for future work, and that if they refer you to someone else they shouldn't expect to get the same discounted rate.
I resigned from my former job andAs you obviously are clueless in business items, I suggest you give up any delusion of making money as entrepeneur and start seeking a job again.
begin to prepare my international
You are badly prepared, don't have the necessary funds to even survive a month and your atempts to work as independant translator so far have yielded zero (!) revenue.
It is pretty obvious you have a significant delusion about your position - you should not evn TRY to get into international trade business, as you totally luck any funds to do so.
Once you get a job again, try getting a clue about how your business will operate. This is called a business plan. Make sure it is RIGHT, then get the means to execute it (funds), by saving or other means.
Then, prepare for your business IN YOUR SPARE TIME, an only switch over when it is feasible. under hardly any case should you "prepare" after leaving your job - you should EXECUTE.
I iwll give you a different point here. For the last year and a half I have been going into a trade business of a totally different kind. We encountered many difficulties... now, half a year later than originally envisions we slowly seem to start. In all this time, my cash flow was UNCHANGED (!) from my "prior position" as the prior position did not change. I am under NO additional financial stress to get that going. Now guess who has a better chance to succeed? ;) It is about preparation. I fully knew that things may take longer.
We are a translation agency and we have a pretty good idea about the market prices. But they range from 1 cents a word to 30 cents a word. So, as you can see, it's a wide range :-)
It really depends on your experience and field of knowledge.
Are you a certified translator?
Have you worked in that field?
The prospect who makes a lowball counteroffer is at least giving you a chance to negotiate. Those who didn't call you back haven't given you this chance. You should feel lucky you've gotten the offer.
You have to ask yourself the following questions:
You also have to realize that if the customers do not know you and you do not have a brand, they are less likely to pay a high price. You could say that the price is X on the first task, but X + 30% on the second.