They Aimed High, but Now Their Translation Business Is Stuck

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But the big payday has yet to come. Two years after the Mirzas implemented their plan, Akorbi had 56 language customers -- but revenue had dipped to $904,000. Those disappointing results occurred despite the Mirzas' beefing up the sales staff from three to five people, with each employee making some 50 cold calls a day. All told, the company poured $200,000 into sales in 2006 and 2007, including about 1,000 mailers sent out each week. Though the company had been earning small profits since 2005, the Mirzas were hardly satisfied with what they viewed as a paltry return for all the time and energy they had invested in the business. Clearly, something needed to be done, but what?

To rally the troops and figure out the next step, the Mirzas shut down the company for a day in October 2007 and brought their Dallas employees together in a rented conference room with the company's top producing Latin American translators, who flew in for the day. The group was patched in to the rest of the overseas staff by teleconference for a marathon strategy session. The Mirzas started with a presentation that analyzed Akorbi and the translation market. But the day was also intended to boost morale. The staff took notes and threw out suggestions. The Mirzas decided to reconsider their pricing, which some staff members viewed as too low. They also discussed opening a Washington, D.C., office to be in a better position to bid for government contracts. Says Maria Clara Buzzini, translation services manager: "The meeting helped us understand the big picture."

Shortly after the meeting, Claudia and Azam decided to let go of one sales staff member in order to redeploy funds to improve Akorbi's visibility on search engines. The latter was a move they had toyed with before, but they finally realized that mining the Internet for jobs was an important strategy that couldn't be ignored.

Though it's too early to tell if focusing on the Internet will help jump-start business, the Mirzas continue to beat themselves up for not being further along. "I'm tired of seeing the same million [revenue] number," says Claudia. She says 99 percent of Akorbi's customers return, but the company just can't seem to gain ground. "We want to know what we should be doing that we are not doing right," says Azam.

To help them answer that question, they say, they are on the verge of hiring a top-level outsider with more perspective and experience. That could be a CEO or a sales executive. Either way, says Claudia, "I know I need someone aggressive who can keep my company on its toes." But the Mirzas have yet to post a job opening because of worries about the risks of handing over their labor of love to another person. As Claudia is quick to point out: "At the end of the day, we are liable for what happens to this business."

The Experts Weigh In

Get more global

Investing in the Mirzas' sales team in India and divesting in Dallas would allow them to target companies doing business in and between South America and India and China. I see room to grow in these markets. Internet marketing should be seen as only a complement to a diverse sales strategy. Akorbi is going through a predictable phase of stagnation after rapid growth in the early years. The underlying success story is based on Claudia's drive to succeed. What more could an outsider at a CEO level bring to Akorbi?

Maureen Rabotin
Founder
Effective Global Leadership
Paris

Go for the big fish

The Mirzas should hire a professional sales manager, but not a CEO. Each salesperson should bring in at least $500,000, if not $1 million. To do that, Akorbi should resist the temptation of being everything to everyone. Focus instead on a couple of verticals, like insurance. The Mirzas can increase their average margins by pitching projects that require more languages. Their current approach catches the small fish but doesn't bring in real profitable projects. They should also talk about how they have helped existing clients.

Renato Beninatto
Partner
Common Sense Advisory
Lowell, Massachusetts

Dump the cold calls

Instead of a new CEO, the Mirzas should create an advisory board to vet strategic decisions. They should have at least two clients on the board, as well as sales, marketing, PR, legal, operations, and financial and creative specialists. They should figure out a way to never have to make another cold call. It's better to simply ask for client referrals. The salespeople need to learn about client organizations: Who is in the clients' food chain? The idea is to stop treating jobs in isolation and think of clients as part of an ecosystem.

Marty Avery
Founder
What If
Calgary, Alberta

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