Time is our most precious resource.
How you are spending yours?
If you can measure something, you can improve it. And, if you can improve it, you can perfect it!
Easy & Accurate Time-Tracking Creates A Benchmark By Which You Can Improve & Measure your Small Business
I believe that good Time-Tracking and the data it provides is a vital tool if you want to grow your Small Business. After all, how else can you be sure that the changes you have made are actually helping (and not hurting) your business?
Below are the Top 7 Reasons You Should Use A Time-Tracking App In Your Small Business.
1 MEASUREMENT IS THE KEY TO IMPROVEMENT
The number one reason for using a Time Tracking app is to create an accurate benchmark of how much time you are spending working on any given task/project/category. Because, without the ability to objectively and accurately measure your work hours, it becomes difficult to measure whether any changes in your systems have made you more efficient.
As a Small Biz Owner, you probably feel you have a good grasp on how many hours you work each week and how long each task or project takes you. However, in my experience, most Small Biz Owners tend to underestimate how long it takes them to complete a task and often have a mistaken sense of which projects or tasks they are spending the most time on and which the least.
For these reasons, I believe that accurate time-tracking (combined with good task/project management systems) is absolutely vital if you want to improve your Small Biz.
2 MEASURE WHETHER ANY CHANGES YOU MADE HAVE RESULTED IN GAINS OR NOT
The second reason for using a Time Tracking app is to accurately quantify any changes you make in your processes and system.
Let’s say that you have recently set up a CRM to manage all your clients, leads, tasks and emails etc. Perhaps before that you were relying on an Excel Spreadsheet or even pen and paper. How can you be sure that your shiny new CRM is actually making you more effective? If you have accurate time tracking data from before as well as after the new CRM, it becomes easy to see not only IF the new CRM is saving you time but also IN WHAT AREAS the CRM is most/least beneficial.
(Note; with any new system, it is to be expected that it will take some time to get the hang of it properly and therefore initially things might take you quite a lot longer than they will say one month down the track.
3 NEVER UNDER-CHARGE A CLIENT AGAIN
“Time is Money”. Yes, a cliche but oh so true! Accurate time-tracking can help you avoid under-charging because it makes it easy to make sure that you get paid for every minute.
4 MAXIMISE YOUR BILLABLE HOURS
As they say on Boston Legal, “It’s all about the billable hours”…
For any Small Business Owner, maximising billable hours and minimising un-billable hours is the key to increasing your income without working a gazillion hours.
A good time-tracking app will not only record your time, it will also give you access to good reports that allow you to analyse your data and set and measure goals like “Work X number of billable hours this month”.
5 THE ELUSIVE WORK-LIFE BALANCE.
Being able to record and analyse your work hours and behaviour makes it much easier to tweak your systems and processes in order to move closer to the Work-Life Balance you’ve been dreaming about.