I would like to underscore one of the points she makes:
"DO NOT set your rates suspiciously low. I think that especially in a down economy, many beginning freelancers are tempted to set their rates markedly below the going rate for their languages. [...] I think that lowball rates attract bottom-feeding clients who are looking for high-quality work for minimum wage. "I agree, and would like to add something:
Not only do many beginners set their rates too low, but, when this is pointed out to them, they complain that otherwise they would not get any work.
What they don't realize is that work will eventually come aplenty to good translators, but that working for substandard rates leads to lower-quality work.
When working for low rates, the most obvious way to increase revenue is to accept more and more work. This means that work gets rushed and the inevitable errors creep in. Being kept busy by low-paying customers, also leaves little time for keeping up to date, for searching new customers and for accepting higher-paying work, should it arrive.
Working for substandard rates easily leads to accepting work for which one is ill suited: but in this regard, see another point in Corinne's post:
"DO NOT take on work that you know is wrong for you just because you need work".Another error many beginners do is to complain about "the agency's rate": there is no such thing - it's your rate, not the agency's, but thinking of it as the agency's rate leads to accepting things such as agencies unilaterally lowering their rates (as recently discusses on ProZ).
Finally, working for low rates means accepting work from the cheapest agencies in the industry. Eventually the translator's résumé will list a whole range of agencies notorious for paying little and for their little regard for quality. And once that is the image one conveys with his or her résumé, it is difficult to rebrand oneself as a "high-quality translator".