Harness The Power of Time Tracking To Boost Startup Growth
As a general rule, most startup owners strongly believe that the key to successful destiny of startup lies in the product, brilliant skills of the workers, culture and proper financial management, meanwhile such precious asset as time is often overlooked. It goes without saying that the aforementioned “ingredients” play an overriding role, but as an entrepreneur you should also understand that startup development is all about execution. Since startup resources are limited, the main accent should be put on the accomplishment of tasks that contribute to its growth. In other words, you should learn to prioritize tasks, and make efforts to reduce tasks that fritter away your most important assets. Along with that, you should keep track of the time spent by you and your employees in the process of work.
Why is that so important ? First and foremost, time tracking will allow you to optimize work and enhance productivity within startup. The collected data will provide insight into the overall performance of your team, and will help to determine how much time each employee spends to finish project or task before deadline.
Time tracking is especially important when your startup is in it’s infancy. This phase is the most uncertain and, as a result, you need a proper planning and the right strategy for sustained growth. Time tracking reveals a clear picture of the current state of things and helps you to define priorities , eliminate the least lucrative projects and tasks, identify problem areas. It also helps to shed the light on the main distractions that hold startup team back.
Secondly, by monitoring the time spent by each employee, you will be able to see who among them utilizes time effectively and who spends time on the irrelevant tasks. It will foster transparency within work culture and encourage better allocation of tasks among team members.
Time tracking facilitates the work evaluation process. The actual data received in the result of time tracking can serve as an underlying basis for tweaking project strategy, assessment of project costing, project price adjustment.
Now, as you see that benefits of time tracking are numerous, the following question might arise, “What is the most effective way to track time?” Of course, you and members of your team can do that manually, though practice shows that workers are quicker to find excuses not to track time, rather than to submissively start counting hours spent on work or project. Furthermore, such approach often leads to bewilderment and is time-consuming itself.
I would rather recommend to use time tracking software such as Timr, which significantly simplifies the process of time tracking and delivers accurate results. Timr demonstrates an outstanding usability. With the help of its dashboard you can easily monitor activity of your team, assign tasks to each employee and identify how many hours you and your team spent on each task. Timr enables working and project time tracking.
Timr integrates into your startup environment in such a way that your workers don’t feel like being monitored and you can track time spent by your employees without having to ask each of them. Moreover, Timr allows to structure tasks and projects according to your startup’s specific needs. You can define the weekly work hours for each employee, structure tasks towards customers, project or subprojects, preset different working time types.
With Timr it is also possible to track your time while traveling, since software ensures correct time entries across time zones. You can be sure that your project efforts are always up-to-date as Timr enables instantaneous time tracking.
Its powerful reportings and statistics provide accurate data which can be used for accounting purposes as well as for billing your clients. With Timr you are able to create PDF reports on the go and customize them by adding company’s logo and address. Moreover, Timr lets you track time using your preferred device – PC, iPad, mobile platforms such as Android, iOS, Blackberry. You can track your time in the office or on the go, and you don’t have to make additional time for it, because Timr tracks your time during your work.
As Brian Tracy used to say, “One of the worst uses of time is to do something very well that needn't to be done at all”. Time tracking software makes you and your team work more effectively, it helps to stay focused on the most important – tasks that contribute into startup growth. The earlier you integrate this practice into your startup culture, the greater reward in terms of profit, effectiveness and sustained growth you’ll reap in future.
Written by Natalie Myhalnytska
Timr website: http://www.timr.com/
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