Location: New York, NY
Industry: Language and global business services
Liz Elting and Phil Shawe
THE BEST OF BOTH WORLDS
From offices in 85 cities on six continents, TransPerfect offers services in more than 170 languages to clients worldwide. While going through business school, president and co-CEO Liz Elting realized that the translation industry was extremely fragmented and largely unregulated, but had enormous potential. “There were a few large companies out there and literally thousands of smaller shops,” she says. “Our concept was to capture the best of both worlds — the capacity and reach of the large companies and the service-oriented approach of the smaller operations.”
Quick Tip: “Ambition is a key factor in propelling your business … forward, but blind ambition can often lead to decisions that will ultimately harm your business model. Make sure to temper your ambition with pragmatism.”
Even as TransPerfect’s operations have grown exponentially over the years, the company’s leadership has held on to the basics of its original strategy. “Client service remains the cornerstone of our business model,” Elting says. “The only difference is that now we have local offices in just about every major global market, and an entire family of companies that can easily handle any imaginable international communication need.” So what’s left for TransPerfect to achieve? Any number of things, says Elting, including new services and technologies, a presence in new cities and countries, and new career opportunities for employees.