The Fall 2014 Indexer Survey revealed the following characteristics of Heartland Indexers’ business practices.Percentages were rounded up or down to the nearest whole number in most cases.
Are you a full time indexer (30 hours or more per week)?
More than half of the survey respondents (56%) indicated that they are full-time, (or would be if they had the work) independent contractors.Less than half (44%) are part time by choice.We did not have any respondents indicate that they are full-time employees or part-time moonlighting while working another job.
Do you generally have a contract with a client?
The choices for this response were Never, Rarely, Sometimes, Usually, and Always.Regarding usual practices, six respondents said that no contract is involved. One respondent said that he/she usually provides the contract; three said that they never provide the contract; three respondents indicated that the client usually provides the contract.
What are your typical marketing strategies?
Ranked by most to least-used strategies:
Personal Website (78%)
Heartland Chapter Indexer Locator (67%)
Networking and Referrals (56%)
Cold Email (44%)
Speaking Presentations and ASI Indexer Locator (33%)
Blogging and Cold Calls (22%)
Article Writing (11%)
How is a pay rate established?
Rates set based on personal income goals:
Never3 people
Occasionally 2 people
Rates set based on basic industry rates:
Occasionally 2 people
Often 5 people
Client determines the rates:
Occasionally 2 people
Often 3 people
All the time 2 people
What other work activities or revenue streams supplement your indexing?
Heartland indexers supplement their income by other freelance activities such as researching, abstracting, copyediting, proofreading, and writing magazine articles and books;a spouse’s full-time employment; and eBay sales.
How is your business structured?
Unincorporated sole proprietorship67%
Incorporated (LLC or S-corporation)33%
How do you track your accounting?
Financial software (such as Quickbooks)12.5%
Electronic spreadsheet62.5%
Paper spreadsheet or bookkeeping25%
Do you have a business plan, vision, or budget?
One respondent (11%) has a business plan that he/she revisits regularly to update.
Three respondents (33%) formed their business with a business plan but have not updated it.
Five respondents (56%) do not have a business plan.
This survey answers some basic questions about how we conduct our business and sets up possibilities for future discussion of some finer points such as what exactly entails a contract and what specific factors are taken into consideration when establishing a pay rate (i.e. density, illustrations, due date, special vocabulary).
