| Pages in topic: [1 2] > | Poll: Have you set an income target for your translation work in 2010? Thread poster: ProZ.com Staff
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This forum topic is for the discussion of the poll question "Have you set an income target for your translation work in 2010?".
View the poll here
A forum topic will appear each time a new poll is run. For more information, see: http://proz.com/topic/33629
| | | | Ken Fagan (X) 
Local time: 10:42
French to English
I bought myself a dartboard and placed it on a wall.
I then put various possible turnover (sales) figures on different parts of the dartboard.
I then walked several steps away from the dartboard, closed my eyes, turned my back to the dartboard and threw a dart over my shoulder, in the direction of the dartboard.
I then checked to see where the dart had landed on the dartboard.
[Edited at 2009-12-08 15:15 GMT]
| | | | | No, but curious | Dec 8, 2009 |
I answered no. To those who answered yes: could you please describe the benefits *you* derive from setting an income target? Thanks!
| | | | Jocelyne S
France
Local time: 10:42
French to English
+ ...
I aim to run an efficient business which leaves me time to enjoy life on the side. As such, I have to know what my "target income" needs to be in order for my business to run effectively.
When I know how much money I want to "take home" at the end of each month, I can then establish how much I need to earn per day/month/year to meet my target. I also add in factors like taxes, training, equipment renewal, professional expenses, vacation, etc. This is the information I use to calcula... See more I aim to run an efficient business which leaves me time to enjoy life on the side. As such, I have to know what my "target income" needs to be in order for my business to run effectively.
When I know how much money I want to "take home" at the end of each month, I can then establish how much I need to earn per day/month/year to meet my target. I also add in factors like taxes, training, equipment renewal, professional expenses, vacation, etc. This is the information I use to calculate my rates.
With an income target, I know how much my time is worth and I can see how my business is running.
That said, it is just a goal - to be met or exceeded, we hope.
Best,
Jocelyne ▲ Collapse
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neilmac
Spain
Local time: 10:42
Spanish to English
+ ...
... and thank goodness I'm part of the majority so far.
As a man of action and devout Homer Simpsonite, the very mention of "target setting" and "obective stating" gives me the creeps. Too serious.
My business plan for 2010 is to keep muddling along as usual, try to stay happy and hope things do actually get better than they have been in 2009.
| | | | Parrot
Spain
Local time: 10:42
Spanish to English
+ ...
No danger projected for 2010. You see, my targets are on the down side; I know that if my tax base rises above a certain limit, I'll be paying too much. (Don't laugh, I've had painful experiences).
Ever-increasing targets are fine if you're covered by a corporate structure. But many people find other solutions, and the "balancing act" as regards targets may well be determined by this and other peripheral circumstanc... See more No danger projected for 2010. You see, my targets are on the down side; I know that if my tax base rises above a certain limit, I'll be paying too much. (Don't laugh, I've had painful experiences).
Ever-increasing targets are fine if you're covered by a corporate structure. But many people find other solutions, and the "balancing act" as regards targets may well be determined by this and other peripheral circumstances (mortgages, children, retirement...) ▲ Collapse
| | | | Amy Duncan (X)
Brazil
Local time: 05:42
Portuguese to English
+ ...
| No, and lol Ken! | Dec 8, 2009 |
Having a "target income" would drive me absolutely batty. I would also find it self-defeating. I like to live a life of trust in (fill in the blank: God, a higher power, the universe, etc.) and that seems to work just fine for me. Sometimes the most unexpected and wonderful things happen.
| | | | Interlangue (X)
Angola
Local time: 10:42
English to French
+ ...
Does a target really need to be very precise?
Mine is "same as this year or close to - or better without slaving away completely", enough pay the bills, lead a decent life and have some left to take time off and travel.
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| | Nicole Schnell
United States
Local time: 01:42
English to German
+ ...
In memoriam
Because our CPA needs this figure to calculate and to set up our quarterly tax payments.
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being a freelancer you cannot say how much work you will be given.
So, my target is the same or a bit more than the previous year, which means work more efficiently, and see if I get more work.
| | | | David Russi
United States
Local time: 02:42
English to Spanish
+ ...
| I may make this a yearly ritual | Dec 8, 2009 |
Ken Fagan wrote:
I bought myself a dartboard and placed it on a wall.
I then put various possible turnover (sales) figures on different parts of the dartboard.
I then walked several steps away from the dartboard, closed my eyes, turned my back to the dartboard and threw a dart over my shoulder, in the direction of the dartboard.
I then checked to see where the dart had landed on the blackboard.
Thanks for the chuckle...
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Rebecca Garber
Local time: 04:42
Member (2005)
German to English
+ ...
| more than this year | Dec 8, 2009 |
little vague, but it will do.
| | | | David Russi
United States
Local time: 02:42
English to Spanish
+ ...
Nicole Schnell wrote:
Because our CPA needs this figure to calculate and to set up our quarterly tax payments.
My CPA (me) just needs the previous year figure to calculate and set up my quarterly tax payments...
But seriously... for me the point is to make at least what I made the previous year, more if I can, so in that sense I reckon we all have a figure in mind.
That said, a sort of new year's resolution on income sounds odd to me...
| | | | Ken Fagan (X)
Local time: 10:42
French to English
| quit dragging your heels, David and | Dec 8, 2009 |
send me your mailing address, so that I can ship you a dartboard, pronto.
It'll be tax-deductible for crying out loud!
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