Great Blog!  Lots of interesting articles!

Here is the link to it: http://www.acclaro.com/translation-localization-blog

Building Brand Equity in International Markets with Human Translation

June 28, 2013 by Michael Kriz
Category: International Business

If you’ve recently found yourself facing the reality that the future of your company’s growth lies in international markets, you’ve probably also wondered what the best method is for translating your products, services, and brand identity for all of those global consumers.
Odds are Googling your options hasn’t simplified things. Freelance linguists, professional translation agencies, “crowdsourced” translation portals, machine translation tools...there’s an ocean to navigate. (Even Google may have suggested you try Google Translate.) Much of this flood is driven by low-cost options, promising a relatively small investment is all it takes to open up your company to millions of potential customers around the world. Technology, it would seem, is working its magic, saving budgets, and connecting businesses to buyers at the click of a button.

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Globalization Industry Trends

Globalization professionals were once marginalized in Corporate America. Now they play a valued and essential role. The macro trends contributing to this shift in roles include: internet growth, lowered vendor pricing, improved tools technology and streamlined production processes. This is a time where translators suggestions are being implemented by senior management, G13n architects are teaching engineers how to engineer software and Fortune 100 CEO’s are consulting their VP’s of Globalization for advice about corporate direction.  The GILT industry is truly ‘Coming of Age’ in America. We are witnessing the ‘Revenge of the Globalization Nerds’. (For more on this, click here.)

Education Options for the Globalization Industry

Monterey has a graduate program in Localization management.  There are Masters degree in translation from multiple universities across the country—NYU, Kent State, Monterey.  Tim Altanero teaches localization courses in Texas.  The Localization Institute and Ulrich Henes offers courses.  People at GALA also offer courses and training.  If you are aware of other educational and training options for the globalization industry, please reply.

New Sales Hire and Heart Transplants

A successful sales person newly hired can be the heart of the success of the LSP.  Like a heart transplant, though, the host may reject the heart or vice versa.  So careful attention with a new sales hire early on may be critical to the success of the operation. (see http://www.anzuglobal.com/images/CSNV9I4.pdf )

Profit and Loss for First Year Sales hires: Loss (and the Golden Eggs)

Even when a new sales hire does 500K in sales the first year, the parent company may have negligible profits, or even report a loss.  When you add salaries, benefits, equipment and overhead costs, administrative personnel costs etc, the 150K gross margin may not cover expenses.  Hiring Sales people, though, is like Woody Allen’s comments about a successful marriage.  He says finding a good partner is like finding the goose that lays the golden eggs.   He keeps looking because he needs the golden eggs.

First Year Sales Revenue Success: $500K

What is a good revenue number for a first year sales hire for a mid-level (>$25 million) or small > $5 million) LSP: $500K.  Let’s add several assumptions.  The sales person cannot bring on board recent, previous business.  The LSP does not have a huge marketing effort and there is limited ‘existing’ business that is inherited.  To expect a $1,000,000 in revenue the first year, without the above support is: ‘magical thinking’, arrogant, ignorant…all of the above.