When you’re running your own small business it can sometimes be a challenge just staying on top of your everyday work, let alone managing all the things you need to do behind the scenes.
But if you can dedicate some time to measuring a few important pieces of admin in your business, you may find that you’re likely to work more effectively and give your business the best opportunity to grow.
How you’re spending your time
If you bill clients by an hourly or daily rate, you’re probably already tracking your time to ensure you charge for all of the work that you do. But monitoring your time is still a very useful habit to get into even if you don’t bill this way.
By identifying how much time you actually spend on working for clients compared to managing your daily business admin, you’ll be able to see how profitable your business really is and which clients are potentially costing you money.
If you track admin time, and other unbillable time, you’ll also be able to see exactly how much time you’re spending on your business that you can’t charge for. It may well be more than you think!
And if your business offers a range