advertisement

Time Tracking is Necessary for Small Business

67 %
33 %
advertisement
Information about Time Tracking is Necessary for Small Business
Business & Mgmt

Published on March 14, 2014

Author: Mobile-Worker

Source: slideshare.net

Description

If you are a small business owner, you know that managing it is as difficult as being the vice-president of a big company. You must take care of all the processes, which every big company has, but you probably have less resources for that. Time tracking is not only important for the sake of calculating wages; these days it helps to facilitate work processes, and project accounting and planning for companies of all sizes.

Let’s be honest. Just a minority of us likes to track their time, so the device or solution for that must be simple to use, have a friendly interface, and collect accurate data. If you find the right tool to meet your requirements and start using it, you could optimize your work process and become more profitable.

1. Will allow you to do work or project costing. It is a common situation, when you work with a customer for a fixed price, and you spent more time than you have planned. If you don’t track your time, you can’t estimate how much this projects cost to you. Creating an efficient freelance business model without monitoring the greatest chunk of your costs – labour – is literally impossible. Even if you enjoy what you do, you must have a system to track your time in order to manage your income.

2. Increase your workers’ productivity. Working long hours doesn’t necessarily ensure best results, but time tracking helps to control your workers’ activity. On the other hand, workers feel comfortable and secure, because they know, where they spent their work time, and can show that for the manager. One of the greatest challenges people face in the working environment is ambiguity. Time tracking helps to reduce it in a way that workers don’t have to remember every task they performed. Often little things eat up the most of time, and it is difficult to remember them all, so it might seem that you are doing nothing when you try to explain your job to the supervisor or client. Documenting tasks helps to avoid that. Also, it puts a bit of healthy stress on the worker so that it would be less tempting to jump on social networks or skim through news portals.

3. Help to plan future works. If you planned that something is going to take you 3 days to complete, tracking time allows you to see whether you work according to the plan or not. If it actually takes 5 days, you know in the future that you need to increase your time estimate, and maybe charge your customer more. Also, you can clearly see, what tasks take up the most time, and then think of ways to reduce that impact. What works best for you when it comes to time management?
advertisement

www.mworker.com Time Tracking is Necessary for Small Business

www.mworker.com Time Tracking is Necessary for Small Business • If you are a small business owner, you know that managing it is as difficult as being the vice-president of a big company. You must take care of all the processes, which every big company has, but you probably have less resources for that. Time tracking is not only important for the sake of calculating wages; these days it helps to facilitate work processes, and project accounting and planning for companies of all sizes. • Let’s be honest. Just a minority of us likes to track their time, so the device or solution for that must be simple to use, have a friendly interface, and collect accurate data. If you find the right tool to meet your requirements and start using it, you could optimize your work process and become more profitable.

www.mworker.com 1. Will allow you to do work or project costing • It is a common situation, when you work with a customer for a fixed price, and you spent more time than you have planned. If you don’t track your time, you can’t estimate how much this projects cost to you. Creating an efficient freelance business model without monitoring the greatest chunk of your costs – labour – is literally impossible. Even if you enjoy what you do, you must have a system to track your time in order to manage your income.

www.mworker.com 2. Increase your workers’ productivity. • Working long hours doesn’t necessarily ensure best results, but time tracking helps to control your workers’ activity. On the other hand, workers feel comfortable and secure, because they know, where they spent their work time, and can show that for the manager. One of the greatest challenges people face in the working environment is ambiguity. Time tracking helps to reduce it in a way that workers don’t have to remember every task they performed. Often little things eat up the most of time, and it is difficult to remember them all, so it might seem that you are doing nothing when you try to explain your job to the supervisor or client. Documenting tasks helps to avoid that. Also, it puts a bit of healthy stress on the worker so that it would be less tempting to jump on social networks or skim through news portals.

www.mworker.com 3. Help to plan future works. • If you planned that something is going to take you 3 days to complete, tracking time allows you to see whether you work according to the plan or not. If it actually takes 5 days, you know in the future that you need to increase your time estimate, and maybe charge your customer more. Also, you can clearly see, what tasks take up the most time, and then think of ways to reduce that impact. What works best for you when it comes to time management?

www.mworker.com

Add a comment

Related presentations

Canvas Prints at Affordable Prices make you smile.Visit http://www.shopcanvasprint...

30 Días en Bici en Gijón organiza un recorrido por los comercios históricos de la ...

Con el fin de conocer mejor el rol que juega internet en el proceso de compra en E...

With three established projects across the country and seven more in the pipeline,...

Retailing is not a rocket science, neither it's walk-in-the-park. In this presenta...

What is research??

What is research??

April 2, 2014

Explanatory definitions of research in depth...

Related pages

Time Tracking is Necessary for Small Business

Efficiency is key to any successful business, and time tracking is one of the tools to measure efficiency and improve it. Learn more about the reasons why.
Read more

Time-Tracking-is-Necessary-for-Small-Business - Mobile Worker

October 22, 2014 640 × 360 Time Tracking is Necessary for Small Business. Leave a Reply Cancel reply. ... Time tracking and data gathering solution.
Read more

Small Business Time Tracking | Time Clocks For Small ...

ADP small business time and attendance solutions for gives you what ... With time tracking and payroll reporting ... and adjust the hours as necessary.
Read more

Toggl - Free Time Tracking Software

Best time tracking system for a small business. A simple online timer with a powerful timesheet ... Toggl’s time tracker is built for speed and ease of ...
Read more

Paymo · Online Project Management App

Automatic Time Tracking. ... track time and stay on budget. Use Paymo ... Paymo is very important to make the right business decisions.” ...
Read more

Toggl - Time Tracker & Employee Timesheet Software

Best time tracking system for a small business. A simple online timer with a powerful timesheet ... Toggl’s time tracker is built for speed and ease of ...
Read more

Home | Time Tracking Software | Easy Time Tracking

Time tracker to stopwatch ... I have been a loyal Easy Time Tracking software user for ... As a small business I often need to switch projects from one ...
Read more

Small Business Timesheet Software from Replicon

Replicon’s offers small business timesheet software, management software and payroll software which helps small businesses streamline their time tracking ...
Read more

Time Tracking Software Employees Love - Free Trial | TSheets

Employee time tracking software with GPS. TSheets ... Add the power of TSheets Scheduling to this and your business will be surfing a new wave. Time to ...
Read more