Philip Shawe is the Co-Founder and Co-CEO of TransPerfect, a global family of companies and the world’s largest privately held provider of language and business services. Phil oversees the day-to-day operations of the company.
Under Phil’s leadership, TransPerfect has received numerous awards and distinctions. The company is a seven-time honoree of the Inc. 5000 Award, a six-time honoree of the Deloitte Technology Fast 500, and has earned multiple Stevie Awards for Sales and Customer Service. Crain’s New York Business has ranked TransPerfect as one of the largest privately held companies nine years in a row. TransPerfect was also named to fastest-growing lists six times by Entrepreneur.
Mike: Tell me how you came to acquire Translations.com. Can you talk about the process you went through to acquire the name?
Phil: When we decided to establish the technology division in the late 90s, Translations.com seemed an obvious choice. The head of our corporate development efforts, Mike Sank, looked into acquiring the domain and we determined that the cost was about the same as we’d spend on a professional branding exercise so we opted to pay the expense and get on with developing the business.
Mike: What exactly do you do at Translations.com? Clearly some form of translations but I know it is really much more than that.
Phil: Translations.com was initially focused on providing language services for companies that were dealing with digital content, while the predecessor company, TransPerfect, represented more of the brick-and-mortar side of the business, with offerings such as document translation, interpretation, and multilingual desktop publishing. The increase in demand for software localization and web localization, and the need to cater toward the unique requirements of those projects drove the need to create a specialized team. Through some very strategic mergers and the development of our own technology, the Translations.com division now offers flagship technology products that help customer manage their translation workflow in digital environments. Translations.com also produces those same software products for our internal use company-wide, which help the whole of TransPerfect operate more efficiently, and we are able to pass those best-practices and saving on our clients, with the net result of providing higher value solutions than our competition.
Mike: Focusing specifically on you, you seem to have done quite well in business. Do you feel that is due to skills that you have learned, personality traits that you naturally have, a combination, or something else?
Phil: Ultimately, I attribute much of my success to the team of people I’ve managed to gather around me. While I do think I’ve got some talent in a few important areas of business, what’s made me the most successful is an ability to identify, motivate and retain others, who possess the true talent that drives our business. TransPerfect and Translations.com have grown to have over 4,000 employees working in over 30 countries, out of over 100 offices worldwide — revenues of more than $615MM in 2017 — and we just completed our 100th straight quarter of profitable growth. None of that would be possible without the hard work and dedication of the team we’ve assembled. I have learned a ton about management in those 25 years, but I continue to learn with each passing day, and I’m looking forward to next 25 years which has just begun.
Mike: Are you willing to share what you paid for the name?
Phil: I believe we paid in the neighborhood of $75,000 at the time. As I mentioned before, that was comparable to what we’d have paid for a separate branding exercise run by a marketing firm — so we thought, let’s get a recognizable and memorable domain name — along with the name of our new tech-focused company. It was very hip at the time to be a “dot com.” — and it may be so retro now that we’ve survived all this time, that it may become hip again.
Mike: How much traffic does the name pull in on a monthly basis?
Phil: While those numbers are informative, they don’t matter as much to us as they might to some other brands as our website is not an e-commerce platform. We’ve got highly professional sales and client service teams that really drive our revenues. Still, even after all these years, we do get new leads directly from the site and some of those have grown into major client relationships.
Mike: How important would you say a good domain name is to an online business’ success?
Phil: I definitely think that a good domain name is helpful in terms of building a brand and having easy name recognition. For example, if your domain name is really long or hard to remember, every time a salesperson tells someone how to get in touch with them via email, there’s an opportunity for confusion and missed messages. But at the end of the day, what’s most important is the quality of the product or service your offering and the commitment your team makes to its customers. So while I’d advocate for being thoughtful about a domain and making sure it’s memorable, easy to spell, and culturally appropriate, I wouldn’t obsess over it at the expense of properly delivering services or technology solutions to your clients.