[…] The 80/20 rule is also called the Pareto principle and it means that roughly 80 percent of the effects of anything you do come from 20 percent of the causes. So, 80 percent of your sales are likely generated by about 20 percent of the services you offer.

What does this mean for us as freelance translators?

Customer service

First of all, the fastest and cheapest way to increase your revenue is to focus on providing the best possible service to your current translation clients and trying to grow your service offering or the amount of work you do with them. This is much more efficient than focusing on finding new clients. Now, I do not mean that you should not try to find new clients, but that requires more effort for lower results. New clients may generate 20% of your revenue, whereas 80% comes from your existing clients.

Read the full post in Marketing Tips for Translators here: http://marketingtipsfortranslators.com/make-money-fast-8020-principle-freelance-translators/

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