Tuesday, May 9, 2023

Moving the stone – dealing with quiet business times

 

[millstone*]

Every freelancer has experienced them, the dead times when the phone does not ring and the only emails that you receive mention deceased distant relatives with large inheritances in very exotic countries. Ever so slowly, the feeling of failure and despair grows until even the most experienced entrepreneurs, including translators, start to have doubts. As the ebbs of business are inevitable as its flows, the only aspect that freelancers can control is their reactions to the situation. In my experience, with understanding, strength, perspective and belief, the quiet seas become an acceptable part of a long voyage.

As each business has its regular flows and unpredictable elements, freelancers can help maintain their emotional balance by analyzing the known and accepting the unknown. In practice, certain months traditionally have more or less work, generally due to holidays, with variances by country. For example, December is a great month for retail in Europe and the US but a terrible month for most other businesses as customers focus on Christmas and New Years. By contrast, December in Israel is a normal month, unlike late September through mid-October when the Tishrei holidays (Rosh Hashana, Yom Kippur and Succot) paralyze the country. On the other hand, some slowdowns are completely mysterious. The reasons why a given month had been traditionally busy but is very slow this year are often not clear unless some even event having a major effect on a given economy has occurred, such as Corona or a hurricane. Wisdom is accepting that it is impossible to predict or understand all events and wait patiently in the meantime. Not every down period is the fault of the freelancer or avoidable.

These periods of low activity create anxiety and even depression, which can lead to lethargy and despair. It is ineffective to advise people not to worry when there are bills to pay. Instead, it is more practical to leverage this emotion and use the free time to improve market position. There are always ways to improve a business, many of which require significant time to plan and implement. These practical actions include improving or building a website, contacting customers, taking online courses, writing articles, exploring social media and investigating other avenues to expand the business. It takes a strong will to harness the negative energy and render it positive in the long term. In some cases, quiet times are not only unavoidable but also necessary to create a successful business.

One of the hardest skills to develop is perspective. It may take years to view the ups and downs of a business work with a calm spirit and quietly roll with them. I have been a translator for almost 19 years ago and no longer despair when work slows down although I still find them annoying. I now use slow times to plan trips, conduct complicated purchases (currently a sofa), spend time with family, get exercise, see doctors and plan an expansion of my services,  not to mention play computer games. I generally find it difficult to find time for these activities when I am busy. My time investment may not be immediately profitable but it will lead to greater financial success in the future and personal happiness in the present. Quiet times do not have be non-productive times if a person can approach them as part and parcel of business.

Ultimately, people choose to become entrepreneurs because they have some type of vision, however unclear it may be. They believe in their skills and ability to provide a product or service that customers will purchase. While periods of low business may be emotionally trying, they do not necessarily signify that the person and business model are deficient in any significant way. The causes of such quiet times often go far beyond the matters of the entrepreneur and may be temporary. In other words, like farmers, entrepreneurs must have faith in the future. Panicking and lowering prices or abandoning a business are not generally not healthy or effective reactions. Sometimes, we need to remind ourselves of past successes to retain the assurance that “we can do it”. Whether it is confidence, faith or stupidity, perseverance and long-term success go hand in hand, tempered by an objective analysis of the market and the flexibility to make changes. In short, successful, happy freelancers have confidence in themselves and the future regardless of current circumstances. This confidence in itself attracts customers.

A very close friend of mine, Sarah Wrench, who unfortunately died in her twenties, wrote a fantasy book in which part of the plot involved people entering a cell in a huge heavy circle with one entrance. Alone in their cells and not knowing what others were doing, they had to push until the circle turned and reached the sole exit. Freelancers, especially translators, can relate to that feeling of working in a void. Sometimes, the work flows but other times, nothing seems to happen despite all one’s best efforts. However, when entrepreneurs grasp the known and accept the unknown, overcome and reverse negative energy, gain a perspective of the business and apply it and keep their faith in themselves and remain steadfast, these times not only do pass but lead to better days.




* Picture captions allow the blind to fully access the Internet.

Picture credit

No comments:

Post a Comment