Independent businesses with less than 500 employees represent about 99% of the firms in the United States. Even if the size is small, it does matter to any business because it provides employment and generates revenues that contribute to the nation's economy. Many of the independent business firms in the U.S. are in the private sector, which comprise about 43% of the private payroll in the country. Most of them are home-based, which is not something to sneer at as many big corporations today started out of the owner's residence, such as Ford, Mary Kay Cosmetics, Hershey's and Apple.
In reality, the backbone of the U.S. economy are the small businesses. They hire about 35% of the high-tech workers in the U.S. They also generate a large number of patents per employee compared to larger companies. Small businesses can create more jobs than more prominent firms.
Small businesses serve niche markets
Small businesses can help niche markets. For example, Day Translations, Inc. is a professional language services provider. It is a small company employing permanent employees for key positions. It may be small-sized, but Day Translation provides high-quality language services to a variety of clients – individuals, small businesses, large domestic corporations as well as multinational companies. Aside from a small number of employees holding specific administrative positions, Day Translations employs freelance translators and interpreters, who are all professionals in their own right. They are located in various parts of the world, making it easier for clients to reach them wherever they are. Day Translations is open throughout the day, every day of the week.
Serving a very particular market
Interpreting and translation services provide solutions for a specific need – efficient communication. With more companies going global, language services providers (LSPs) are enjoying higher demand now more than ever.
Day Translations, Inc. started its operation in 2007. In its 11 years of existence, it slowly but steadily made its way to the top, receiving several citations and awards along the way. The most recent achievement of Day Translations, Inc. is its inclusion in the Inc. 5000 list of the fastest-growing private companies in America for 2018.
It is a significant achievement for Day Translations, as it now belongs to the elite group that has included Zappos.com, Oracle, Chobani, Intuit, Vizio, Timberland and Microsoft over the years.
According to Inc. Media, Day Translations, Inc. ranks 3,510th in the current list. It came as a big surprise to Mr. Sean Hopwood, CEO and President of Day Translations, Inc. But it was such a welcome surprise because it's proof that Day Translations is on the right path. It is also a confirmation of the company's mission and vision. The announcement from Mr. James Ledbetter, the Editor-in-Chief of Inc. Magazine inspires the company to strive harder and work towards another goal: to be in the top 500 in the coming years.
Many professional translators and interpreters praise the management style of Mr. Hopwood. They prefer to work with Day Translations because of the company's modern business processes and pro-active system.
The work environment at Day Translations, Inc. shares a common interest – languages. Mr. Hopwood, started the company because he realized the need for formal language services while he was providing translations for a few acquaintances. He has always been interested in languages since he was a young boy and the interest never waned. Instead, Mr. Hopwood studied business management and other languages as he already envisioned himself operating a language services company. He continues to update his knowledge base and implements best practices to ensure that his staff and teams of linguists can adapt to the changing business environment and new requirements and trends in the translation industry.
Taking a risk
Starting a business is risky. It needs careful planning, patience, perseverance and knowledge of the market. A good business idea can be the germ that grows into something that will be of great help to many people. Starting a business means providing a solution of a pressing need.
The plan should be very flexible, which is one of the advantages of a small business. Often, the owner is willing to take a risk. A small business can immediately understand if a product will be productive or not. It is capable of rapid prototyping and launching a product faster than larger companies. If they have an excellent core asset, the business owner is not afraid of failure and change and is often willing to change directions.
What works best for small businesses is the ability to think outside the box. While strategic planning is usually a primary concern for big companies, smaller companies focus on strategic thinking, quickly seizing opportunities that come their way.
As Mr. Hopwood puts it, it is essential to take risks if these will deliver the desired results. He is willing to implement new things when he feels that the company needs an update. He firmly believes that continuing education is such a big help to him and his company. Along with it is the steadfast dedication to his principles, which means that running a business is not only about making money but also ensuring that the employees you hire are allowed to be heard, and the services you offer are always excellent.
With the recognition from industry peers and business watchdogs, Day Translations, Inc. believes that it will reach more of its business goals shortly and serve more language services clients, domestically and internationally.
Day Translations, Inc. firmly believes in providing equal employment opportunity to people who are qualified for the job. Providing language services to a variety of clients from different backgrounds is not easy but is very rewarding. Every translation project means that the company helps in facilitating better communication and understanding. For high-quality, fast and accurate translations, give us a call at 1-800-969-6853 or send us an email at Contact us at your convenience.
Image Copyright: Inc. 5000 2018