Revenue and the many hats of a genealogy professional

hats by Beverley Goodwin/creative commons

Recently I wrote about how to project your revenue for 2015. The example I used was a bit simplistic. It only included one source of revenue – client research. In reality most genealogy professional wear many hats. We are client researchers, speakers, writers, editors, authors, bloggers and much more.

How do we project our revenue when we have multiple income streams? Let’s walk through it. Let’s say you made $18,000 from genealogy income in 2014. Here’s how it might have broken down:

2014 revenue: $18,000
Client Research $14,400
Speaking $   1,800
Writing $   1,260
Affiliate income $     540

This is a good break down but to help us make it useful for 2015 we need the percentages. That way we can use the percentages to determine projected income in each category for 2015.

For instance, if we divide $14,400 by $18,000 (yes, use your calculator!) we get a result of 0.8 which is the equivalent of 80%. That means 80% of all revenue earned in 2014 came from client research.

If we divide all the other numbers also by $18,000 we learn that speaking was 10% of the total income, writing was 7%  and affiliate income was 3%.

Our chart now looks like this:

2014 revenue: $18,000 Percentage of total income
Client Research $14,400 80%
Speaking $   1,800 10%
Writing $   1,260 7%
Affiliate income $     540 3%

Let’s say in 2015 you’d like to make $22,000. Keep your percentages the same. Here’s your new chart:

2015 revenue: $22,000
Client Research 80%
Speaking 10%
Writing 7%
Affiliate income 3%

To find your new target revenue take $22,000 and times it by the percentage (.80, .10, .07 and .03). So in the case of client research $22,000 times .80 will equal $17,600. That’s a $3,200 increase from 2014. Work your way through the chart to determine your projected revenue for the other revenue streams. The chart will look like this in the end:

2015 revenue: $22,000
Client Research $17,600 80%
Speaking $   2,200 10%
Writing $   1,540 7%
Affiliate income $     660 3%

This is great because you now have a concrete dollar figure to work toward. These are your revenue goals for 2015. But it’s not as simple as that, is it? In order to achieve the new revenue target for 2015 we’ll have to have a plan to help you achieve this goal. We’ll work on that in the next blog post!

 

Photo: by Beverley Goodwin/creative commons

TGP 36 – Harold Henderson on Writing

Featured Guest

Harold Henderson, CG

Harold Henderson,CG(sm) has been a professional writer since 1979, a professional genealogist since 2009, and a board-certified genealogist since June 2012. He lives and works in northwest Indiana and at midwestroots.net, with a focus on northern Indiana, southwestern Michigan, and northeastern Illinois (plus feeder states including Ohio, Harold Henderson on the Genealogy Professional podcastPennsylvania, and New York).

He serves as a board member of the Association of Professional Genealogists where he chairs the APG Quarterly advisory committee. He moderates the on-line Transitional Genealogists Forum.

He is the author of Finding Ancestors in Fort Wayne and In Court In LaPorte, an every-name index to the earliest (1830s) court records of La Porte County, Indiana. He has published articles in American Ancestors Journal (annual supplement to the New England Historical and Genealogical Register), the National Genealogical Society Quarterly, the New York Genealogical and Biographical Record, the APG Quarterly, Archives.com’s late lamented expert series, and state publications in Indiana, Illinois, Wisconsin, Ohio, and Pennsylvania. He blogs at http://midwesternmicrohistory.blogspot.com. At any given time he would probably rather be reading a grantor index.

Contact Links

Harold Henderson on Twitter – @Midwest Roots

Harold Henderson on Google+

Midwestern Microhistory: A Genealogy Blog

Midwest Roots website

Other Links

Midwestern Microhistory: A Genealogy Blog article: “What I would have liked to know as a newbie

One Action Genealogists Can Take Right Now

Join APG, do the Pro-Gen Study Group, and do a gut check to see how much you love doing genealogy for other people

Recommended Book

Reconstruction: America’s Unfinished Revolution, 1863-1877 by Eric Foner

American Colonies: The Settling of North America, Vol. 1 by Alan Taylor

The Birth of the Republic, 1763-89, Fourth Edition by Edmund Morgan

Applied Genealogy by Eugene Aubrey Stratton

North Carolina Research: Genealogy and Local History by Helen Leary

Mastering Genealogical Proof by Dr. Thomas W. Jones

Productivity Tool

“The important application is the application of  the seat of the pants to the seat of the chair”

Advice

When you write, either write in the creative mode and just do it and get it on paper and then write in the editorial mode where you are thinking about grammar and sentence structure. Do them both but do them separately. Don’t give yourself writer’s block.

Action Item

We need to get better as genealogists at giving and receiving feedback. This will make us better genealogists because it will teach us to correct our mistakes and to strive to do better work.

ACTION:

Pair off with another genealogist – whether it is someone from Facebook, your local genealogical society or local library. Write up some up your genealogy according to the BCG Genealogical Standards Manual. Share your genealogy with the other person. Review what your partner has given you and then provide feedback. First, let your partner know what they have done right and then give them suggestions for how they can improve. Just going through this exercise will make you a better genealogist because you will be more comfortable sharing your work with another person. Good luck!

Direct link to this post: http://www.thegenealogyprofessional.com/harold-henderson

Last chance to sign up this January Workshop! Two dates available.

Click the images for more details.

iSetting Business & Marketing Goals 2015 Workshop Setting Business & Marketing Goals 2015 Workshop
Friday, January 23, 2015 Saturday, January 23, 2015

 

 

Harold Henderson on the Genealogy Professional podcast / http://www.thegenealogyprofessional.com/harold-henderson/

 

 

Will You Make Enough Money in 2015?

dollars and cents

Genealogy professionals can be a little squeamish about money. We would prefer to think about research and clients. But we need to think about money if we are going to accomplish our goals. So you want to go to that national conference in the spring? You won’t be able to do it unless you have the funds to pay for all the expenses.

Let’s take a moment to think about what we are going to earn this year. You know what you earned last year. What would you like to earn in 2015?

If you have a set hourly rate then take that annual figure and divide it by your hourly rate. So if you’d like to earn $20,000 and your hourly rate is $35 then the number of project hours you need to work to achieve that in 2015 is 572 hours. That seems like a scary number doesn’t it?!!

Let’s make it more manageable. Take that 572 hours and divide by 12 months.  Rounded up that comes out to 48 hours per month.  That seems a lot more manageable, doesn’t it?

Let’s break it down even further. Take the same 572 hours and divide by 50 for the number of weeks  you will work (We’ll give you two weeks vacation. You’ll need to adjust the number if you’re taking more time off). That comes out to 12 hours per week. Is this a realistic number to strive for? This is realistic even for part-time genealogy professionals.  Keep in mind that everything you do is not covered by your billable hourly rate. There are still many tasks that you do that are not billable such as marketing, accounting, networking, business development and educational development.

Try this activity for your own business. Project the annual revenue that you would like to earn. Try to make it a bit more than you earned last year so that you can push yourself. Then calculate it out as shown above. When you get the billable hours you need to work, ask yourself if it is reasonable and manageable for you. If not, adjust up or down as needed.

TGP 35 – Pat Richley-Erickson aka Dear Myrtle

Featured Guest

Pat Richley-Erickson aka Dear Myrtle

DearMYRTLE is the nom de plume of Pat Richley-Erickson, author of the award-winning DearMYRTLE Genealogy Blog, consistently among the top 5 family history blogs Dear Myrtle on the Genealogy Professional podcastinternationally, where her focus is on beginning genealogy topics.

A speaker at regional and national conferences including several livestreamed videocasts at RootsTech2011, 2012 and 2013, Ol’ Myrt and her team presented two G+ Hangout on Air workshops at RootsTech 2014 where she will again serve as an Official RootsTech Blogger.

DearMYRTLE is a co-founder of the Genea-Quilters group on Facebook, and founder of www.GeneaWebinars.com, a centralized calendar and blog for all known genealogy webinar hosts and virtual presenters. Have fun watching Myrt LIVE on “Mondays with Myrt” on DearMYRTLE’s YouTube Channel and Google+ Community.

Online since 1985 in membership development with Q-Link’s Your Family Tree and later on the leadership team of AOL’s Golden Gate Genealogy Forum, Pat is a retired post-secondary computer instructor.  She and her husband live in Salt Lake City, Utah, just a stone’s throw from the Family History Library.

Contact LinksDear Myrtle on the Genealogy Professional podcast

Dear Myrtle Group on Facebook

Dear Myrtle on Twitter – @DearMyrtle

Dear Myrtle on Google+

Dear Myrtle Google+ Community

Dear Myrtle YouTube Channel

Dear Myrtle Website

Other Links

 GeneaWebinars

One Action Genealogists Can Take Right Now

Take up hang gliding. In other words, do something completely different, not involving genealogy and use the other side of your brain.

Recommended Book

Seth Godin’s blog

Facebook: Technology for Genealogy group

Anything Elizabeth Shown Mills:  www.EvidenceExplained.com

Mastering Genealogical Proof by Dr. Thomas W. Jones

Productivity Tool

Cozi – a calendar sharing app

Advice

Be yourself. Don’t try to be anyone else. Figure out what is comfortable for you. That is your niche.

Action Item

Dear Myrtle is all about exploring technology and trying new things that will help us learn to do better genealogy and to find tools to help us do it easier. With that in mind let’s make it our goal to try something different this week.

ACTION:

For those of you who have never tried Google+ before your task is to head over to Google+ and to set up an account.  If you already have a gmail account then this will happen with the click of a button. If you don’t have a gmail account then you will need to get one to have a Google+ account (you don’t actually have to use it for email).

Once you are on Google+ then put Dear Myrtle and myself in a “circle” (ie follow us).  Search for your genealogy colleagues and friends and add them to a circle as well. Next, head over to the Dear Myrtle Community and see what that is all about.  Top it off by participating in a Hangout on Air such as Monday’s with Myrt. Google+ is a tremendous resource for genealogy professionals. You’re missing out if you’re not taking advantage of it. At least take the time to see what it’s all about.

Direct link to this post: http://www.thegenealogyprofessional.com/dear-myrtle

Don’t Miss this January Workshop! Two dates available.

Click the images for more details.

iSetting Business & Marketing Goals 2015 Workshop Setting Business & Marketing Goals 2015 Workshop
Friday, January 23, 2015 Saturday, January 23, 2015

Dear Myrtle on the Genealogy Professional podcast

 

 

TGP 34 – Ursula Krause of Rootseekers

Featured Guest

Ursula Krause

Raised in the tradition of story telling, a custom which has been cultivated in her family for centuries, Ursula Krause began to become interested in the history of her ancestors as a child.

Ursula Krause on the Genealogy Professional podcast
photo by Matthew White

Influenced by the emigration of her great-great-great-grandfather and her own long stays in the USA and Sweden, she has intensely studied and investigated the subject of emigration. As a result, she put the story of her family to paper, as seen from a socio-historical and psychological perspective.

Little by little she began to research and document the stories of other emigrant families. They are stories that give descendants and family members a picture of the country where their roots lie.

Ursula is based in Berlin, Germany and is the owner of Rootseekers, a business that recreates ancestral stories for people of German descent.

Contact Links

Facebook – Rootseekers

Twitter – Ursula Krause @Rootseekers

Rootseekers Website

Other Links

Article featuring Ursula Krause in RecordClick: “Genealogy Storytelling and Story Writing – Once Upon a Time in Germany. . .

Article on Historical Maps

Article: An Underestimated Village Chronicle

The Upside Down Book website

One Action Genealogists Can Take Right Now

You will know when the time is right to start your business. It will come to you.

Recommended Book

German-English Genealogical Dictionary by Ernest Thode

Productivity Tool

Excel Spreadsheets

Advice

Focus on tracking statistics of where your customers come from.”

Action Item

It’s the New Year! We need to stop and take a moment think about our goals for 2015 and come up with a plan to achieve them.

ACTION:

This week’s action item is simple. Write down your goals for 2015.  Don’t leave them in your head! Write them down and post them on the wall near your computer or where ever you spend most of your time. Look at your goals each day, figure out how you are going to achieve them, and work toward them a little bit every day.

Direct link to this post: http://www.thegenealogyprofessional.com/ursula-krause

Two Workshops Coming up in January!

Click the images for more details.

iSetting Business & Marketing Goals 2015 Workshop Setting Business & Marketing Goals 2015 Workshop
Friday, January 23, 2015 Saturday, January 23, 2015

 

Ursula Krause on the Genealogy Professional podcast

Workshop Registration Now Open

  Workshop Registration is now Open!!

Friday Registration

Saturday Registration

Want to push your business to the next level in 2015? Start the year right by attending this Goal Setting workshop.

The 3 hour online workshop will take a look at how you did in 2014, what you would like to change for 2015 and then help you achieve it by setting goals and putting systems into place to help you achieve those goals.

The purpose of the workshop will be to:

  • help you define what your goals should be and set specific and realistic goals
  • determine ways to help you quantify the success of your goals
  • create several marketing campaign plans to help you implement your goals
  • devise strategies to keep you focused and on target
  • break you of habits or practices that are hurting your business

We will specifically discuss tools that will help you achieve your goals such as social media, newsletters, websites, networking etc. You will leave with plans and strategies that will work with your specific business.

Goals can be financial, a set number of projects, clients, published articles, speaking engagements or something else related to your business. They should be quantifiable. The workshop will be interactive and will use real examples from the participants. While brainstorming and sharing will be encouraged we will not ask you to share anything that makes you uncomfortable or ask you to share financial information.

The specific date and time of the workshop will be determined by the location (time zone) and schedule of the registrants. It could be a weekday morning, weekday evening or Saturday morning. The targeted time frame is the week of December 8-13, 2014.

Please Note: There will be considerable prep work for this workshop. You can anticipate 2-3 hours of activities you will have to complete before attending the workshop. This will allow us to maximize our time together to your greatest benefit.

Business and Marketing Goal Setting 2015 WorkshopDETAILS

Participants limited to 15 per workshop.

Price $39

Dates:

Friday, 12 December 2014 – 11am- 2pm Eastern Standard Time (New York) / 8am-11am Pacific Standard Time
or
Saturday, 13 December 2014 – 11am- 2pm Eastern Standard Time (New York) / 8am-11am Pacific Standard Time

Format: GoToWebinar or Hangout on Air (HOA)

 

Workshop: Setting Business and Marketing Goals for 2015

TGP-Workshop--ProductImage300Want to push your business to the next level in 2015? Start the year right by attending this Goal Setting workshop.

The 3 hour online workshop will take a look at how you did in 2014, what you would like to change for 2015 and then help you achieve it by setting goals and putting systems into place to help you achieve those goals.

 

The purpose of the workshop will be to:

  • help you define what your goals should be and set specific and realistic goals
  • determine ways to help you quantify the success of your goals
  • create several marketing campaign plans to help you implement your goals
  • devise strategies to keep you focused and on target
  • break you of habits or practices that are hurting your business

We will specifically discuss tools that will help you achieve your goals such as social media, newsletters, websites, networking etc. You will leave with plans and strategies that will work with your specific business.

Goals can be financial, a set number of projects, clients, published articles, speaking engagements or something else related to your business. They should be quantifiable. The workshop will be interactive and will use real examples from the participants. While brainstorming and sharing will be encouraged we will not ask you to share anything that makes you uncomfortable or ask you to share financial information.

The specific date and time of the workshop will be determined by the location (time zone) and schedule of the registrants. It could be a weekday morning, weekday evening or Saturday morning. The targeted time frame is the week of December 8-13, 2014.

Please note: There will be considerable prep work for this workshop. You can anticipate 2-3 hours of activities you will have to complete before attending the workshop. This will allow us to maximize our time together to your greatest benefit.

DETAILS

Participants limited to 15 per workshop.

Price $39

Dates:

Friday, 12 December 2014 – 11am- 2pm Eastern Standard Time (New York) / 8am-11am Pacific Standard Time
or
Saturday, 13 December 2014 – 11am- 2pm Eastern Standard Time (New York) / 8am-11am Pacific Standard Time

Format: GoToWebinar or Hangout on Air (HOA)

Pre-registration is currently taking place those who expressed interest early. Registration will be open to the public Saturday, 6 December 2014 at 7pm EST.

TGP 33 – Cyndi Ingle of Cyndi’s List

Featured Guest

Cyndi Ingle

Cyndi is the creator, owner and “webmaster” of the award-winning web site Cyndi’s List of Genealogy Sites on the Internet, www.CyndisList.com, a categorized index to more than 330,000 online resources. In its first three years, Cyndi’s List was three times voted the best genealogy site on the World Wide Web. It helps millions of visitors worldwide each month and has been featured in the media and diverse publications, including ABC News, NBC Cyndi Ingle on The Genealogy Professional PodcastNews, USA Today, Time, Newsweek, Parade Magazine, Wired, Family Tree Magazine, Family Chronicle, and Internet Genealogy magazines. Cyndi has been interviewed for many television and radio broadcasts including ABC News, NBC News, the BBC, and National Public Radio. She has also participated in the Ancestors II television series on PBS.

Cyndi, a genealogist for more than 34 years, is a past-member of the board of directors for the National Genealogical Society. Cyndi is an internationally known guest lecturer for various genealogical society meetings and seminars (http://www.CyndisList.com/speaking-calendar/). She has lectured for the Salt Lake Institute of Genealogy, GENTECH, Brigham Young University, the Federation of Genealogical Societies, the National Genealogical Society, the Washington Library Association, the Florida Library Association, the American Library Association and numerous local genealogical societies in the United States, Canada and the United Kingdom. Cyndi has authored numerous articles and three books.

Before her life on the Internet, Cyndi worked as an international banker specializing in foreign exchange and computer networks. Cyndi, her son, Evan, and three Boston Terriers live in Edgewood, Washington.

Contact Links

Facebook – Cyndi’s List

Twitter – https://twitter.com/CyndisList @CyndisList

Google+ – Cyndi’s List

Cyndi’s List

One Action Genealogists Can Take Right Now

Sign up for conferences and seminars. Take care of education always.

Recommended Book

 Professional Genealogy edited by Elizabeth Shown Mills

Mastering Genealogical Proof by Dr. Thomas W. Jones

Productivity Tool

Evernote – Organizational Software

Advice

Know your audience, understand who it is you are trying to reach,  and focus on your content and I think if you do that rather than focusing on the business and marketing end of it I think you’ll be a lot more successful.

Action Item

Take Cyndi’s lead and cut down on the number of emails received in your inbox by answering the most often repeated questions on your website.

ACTION:

Think about the common questions that you are asked that are often repeated. These can relate to your contracts, billing, project focus, expertise or anything related to your business. Make a FAQ (Frequently Asked Questions) section on your website and watch those repeated questions disappear from your inbox!

Webinar Available

Targeting and Finding New Genealogy Clients webinar with Marian Pierre-LouisThe webinar “Targeting and Finding New Genealogy Clients” is now available for download. More information about that is available here.

Direct Link to this post:

http://www.TheGenealogyProfessional.com/cyndi-ingle

TGP 32 Christine Woodcock – Genealogy Tourism

Featured Guest

Christine Woodcock

Christine Woodcock on the Genealogy Professional podcastScottish born, Canadian raised, Christine Woodcock is a genealogy educator with an expertise in the Scottish records. She enjoys sharing new resources to assist others in their quest to find and document their heritage. Christine is also a lecturer, author and blogger who enjoys connecting with other genealogists through social media.

Christine is the Director of Genealogy Tours of Scotland  and organizes 10 day research trips to Edinburgh where participants can research their genealogy onsite in Edinburgh.

Contact Links

Facebook – Scottish Genealogy page

Twitter – www.twitter.com/genealogytours

Google+ – Christine Woodcock

Genealogy Tours of Scotland

One Action Genealogists Can Take Right Now

“Find something that is needed in the market and decide how you can make that thing happen for other people.”

Recommended Book

Island of Wings by Karin Altenberg

Productivity Tool

Drop Box – Tool for sharing large files

Advice

“If you have something that you are really passionate about then by all means turn that into a business but don’t expect to make too much money. You need to be realistic but Do It!”

Action Item

We have talked in the past about setting priorities and focusing on what is most important. This week we dive deeper into this idea by focusing specifically on email which can be overwhelming for all of us.  Are you in control of your email or is it in control of you?

ACTION:

In the past we’ve asked you to prioritize your to-do list and create it the night before. There’s no point in that if you get derailed first thing in the morning by other people’s priorities in the form of an email. For the next 7 days try opening your email only 3 times a day. And more importantly, don’t open your email before 10am.  Instead, focus on that number one priority which is on the top of your nightly to-do list!

Webinar Available

Targeting and Finding New Genealogy Clients webinar with Marian Pierre-LouisAs mentioned in the podcast, the webinar “Targeting and Finding New Genealogy Clients” is now available for download.  More information about that is available here.

Direct Link to this post:

http://www.TheGenealogyProfessional.com/christine-woodcock

Targeting and Finding New Genealogy Clients Webinar Now Available

Targeting and Finding New Genealogy Clients webinar with Marian Pierre-LouisThe Genealogy Professional podcast is pleased to announce the release of the webinar entitled “Targeting and Finding New Genealogy Clients.” Did you miss the original live presentation? Here’s a second chance to see it!

The recording of the webinar combined with a seven (7) page syllabus is now available for download.

Targeting and Finding New Genealogy Clients was a big hit when it debuted earlier this year. The webinar is jammed full of process, strategy, and concrete ideas for targeting and finding new clients.

The webinar video is 87 minutes long.

Topics covered include:

  • Networking
  • Marketing
  • Client Retention
  • The process for targeting and finding new clients
  • Reaching out to Potential Clients through:
    • Maximizng your online presence
    • Social media
    • Community engagement
    • Promoting your expertise
    • Media appearances
    • Content Marketing
    • Broadcasting
    • Paid advertising
  • Long Term and Short Term Marketing Campaign Examples
  • Marketing Campaign Template
  • Two in-depth case studies

This webinar is appropriate for genealogists of all levels whether you are just thinking about opening up shop or a seasoned professional.

Syllabus

Included with the download is a seven (7) page syllabus that provides further discussion as well as example marketing campaign worksheets and a marketing campaign template.

Invest $24.99 in your career and get yourself off on the right track!

(If you were registered for the live webinar, check your email for a coupon code!)

Wait! Want a personalized consultation with Marian Pierre-Louis that includes a free download of the video and handout? Find out more about that here.

Buy NowIncluded in the download is 87 minute webinar video and 7 page syllabus.

The Genealogy Professional podcast is a production of The Northeast History Network. Your email and receipts will be from the Northeast History Network.

IMPORTANT:  PayPal has been added to the payment options so that anyone outside of the United States and Canada can purchase the webinar.