That’s enough to take the family on a nice vacation. Once our company switched to billing per-hour for (almost) all of our projects, our profits soared. We’re delighted because we’re now doing an amazing job tracking our time. Both billable and non billable.
The figure that I mentioned above — $4,687.50 — represents the accumulation of only an hour and fifteen minutes a week in billable hours. A paltry fifteen minutes a day, at $75 an hour, adds up to a nice vacation at the end of the year. Counting only 5 day weeks for 50 weeks a year.
Amazing, huh? Imagine what you could do if you tracked an extra hour a day.
Most companies just give away time like this. It’s too-small to track, they say. But the reality is that if you use an efficient tool for tracking time, it’s easy! And it pays off, as you can see.
Minuteglass is that tool (just wait until we launch!)
I hope that this demonstration helps you appreciate the value of tracking your time. It’s stunning, really, how most people don’t track time. If you charge your customers an hourly rate, it pays to track your time with a solid time tracking tool. It’s important to “independent agents” and also large companies of any size.
Benefits of tracking time:
- Earn more money by tracking your time better.
- Keeps you focused on your task at hand. When the clock is running, you know you need to be productive.
- Motivation: At the end of the day, if you can look at your time log and see how much you accomplished, and how much money you earned, it boosts your enthusiasm for what you do.
- It helps you estimate future projects (you can see how long a similar project took).
- Even if you don’t bill your customers an hourly rate, it’s great to know how much you work, and really know.