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Post APG PMC Participation Wanted for Podcast

The APG PMC 2016

I’m just back from the APG Professional Management Conference (PMC) and what a great time it was!

As the only conference specifically geared toward genealogy professionals I would like to do a post-PMC episode that focuses on the benefit people got out of specific sessions or just the conference in general.

I would love to hear from attendees, speakers, committee members and board members. This would involve a (up to) 15 minute recording of you for the episode.

If you have time to record on Tuesday or Friday and you’re willing to share your thoughts, please send me an email at contact@thegenealogyprofessional.com and please include your preference for day (Tuesday or Friday) and time of day.

Thanks!

Marian

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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

Introducing The Genealogy Professional podcast

Whether your are transitioning into the world of professional genealogy or already an experienced genealogy professional, this podcast will give you new ideas to make your business even better.

Each week I will interview experienced genealogy professionals about the challenges they had in starting their business and the strategies they took to overcome those obstacles.

Are you ready to learn and grow in your business? Join me and let’s get started.

–Marian Pierre-Louis