Time-Tracking: Best Practices to Buy Time and Drive Revenue
It cannot be said enough – businesses need to manage time as carefully as they manage their money. And just because we cannot convert the value of a company into times worth, businesses that don’t track their time will lose billions of dollars. To further highlight the importance of time:
Time can be used to make money, but no matter how much money you have, you can’t use it directly to buy more time.
And whether you choose to agree with the statement above, you really shouldn’t argue the facts. According to data gathered from a Leadership IQ questionnaire, “69% of people say that on most days, time flies by and they don’t track where they spend every minute or hour”.
However, knowing where your time goes is only the first step. There are altogether three steps that are believed to separate time-management success from failure:
- Awareness – thinking about your time and understanding it’s a limited resource.
- Arrangement – planning and organizing your goals, tasks, and schedules to effectively use time.
- Adaptation – monitoring your use of time while performing activities, including adjusting to interruptions or changing priorities.
To make sure that you and everyone else in the company are using time in the most optimal way, it’s crucial to establish a way to track time. It’s equally important to gather all this data together and use this intel to make a change.
And to help you out, we have gathered together 8 steps on how to make sure your time-tracking efforts are not wasted and you get the most out of your time.
Download this ebook to learn:
- the benefits of time tracking;
- how to get your team invested in time-tracking;
- the value of Chief Time Officer (CTO).