A Shifting, Volatile Marketplace: How One Company Succeeded by Specializing
In its early days, Haymillian faced a volatile localization marketplace. Because of changes and consolidation in the industries they served most, they watched their customer base and their profits shrink dramatically. It was crunch time. Should they close their doors and seek positions elsewhere? Spread themselves thin in an attempt to be all things to all customers? Hire and fire staff based on their fluctuating project load?
If this scenario sounds familiar to you, you’re not alone. We hear variations on this story from many GALA members around the world. Companies that are faced with changing markets, new demands around price and performance, and challenging delivery models ask themselves many of the questions above. Several GALA members have found effective strategies for dealing with such pressures and in our new series, How We Did It, we’ll take a look at how companies have achieved success in spite of obstacles.
In Haymillian’s case, the path forward included being stubborn, taking a risk, and becoming specialists.
Due in large part to the resourceful leadership of managing director Aida Martirosyan, Haymillian pivoted boldly to focus exclusively on delivering entertainment-focused media localization services.
Today, Haymillian is flourishing. It provides the global entertainment industry with dubbing, subtitling, subtitles for the deaf and hard of hearing, and closed captioning services. Boosted by unique proprietary cloud technology, Haymillian delivers service across platforms and devices worldwide.
How did they do it? How can YOU do it?
In a recent conversation with Ms. Martirosyan, we discovered the key elements in their successful transformation.
Things to consider:
- Broad or narrow targets? Asking the question: “To specialize or not to specialize?”
- Research: what kind? How much? Is it really necessary?
- Toot your own horn: how, when, where?
- Leading your team through the transition: who stays, who doesn’t, and why?
- Developing new business: people, technology, location. Which approaches work best?
- Hard work + luck + belief, and other ingredients for success.
Find out what worked, what didn’t, and how they did it.
(This content is only available for GALA members)