Welcome to Episode #128, where we delve deep into the heart of my business operations: Time Tracking. We'll pull back the curtain on how I've mastered this crucial aspect in running my web design agency efficiently. From invoicing to hourly tracking, discover how I've developed an intricate dance of cash flow, all while staying close to the numbers and enjoying the process.
I share with you an inside look at our meticulous tracking mechanisms for employees and external collaborators alike. Through meticulous systems like Freshbooks and spreadsheets, you'll see how we record hours and translate this into the financial flow of the business.
The takeaway? Good software and processes are key. If I can manage this, given the complexity of my agency's operations, you certainly can, too. So join me as I unravel the nuts and bolts of time tracking, an invaluable tool for running any business. I hope you enjoy the journey as much as I have. Thanks for being part of the builders' crew. Enjoy the episode!
THE MEAT OF IT!
- Brief background about my web design agency
- The Approach
- Emphasis on time tracking as a cornerstone of my operational approach
- The Team
- Snapshot of what my team looks like and how we track their hours
- FreshBooks – At the Core
- How FreshBooks aids time tracking and overall business management
- The Client Base
- Description of the diversity in my client base and time allocation
- The Value of Sharing
- How the complexity of our agency operations and time tracking offers valuable insights
- The Importance of Processes
- The role of time tracking in implementing good processes with clients and partners
- How our time tracking approach influences our invoicing method
- Tracking Hours
- Employees' hours tracked directly in FreshBooks
- Others' hours tracked via spreadsheet
- Method of recording and calculating these hours
- The process of recording hours into FreshBooks
- The Flow of Operations
- How our time tracking feeds into the operational flow from spreadsheet to teamwork to FreshBooks
- Doing it All Without an Accountant
- The benefits of being close to your numbers and understanding time allocations
- How I manage finances and time tracking personally
- The Key Takeaways
- The importance of effective time tracking, good software, and good processes
- Encouragement: If I can manage this complicated business with diligent time tracking, so can you!
- Upcoming Challenges
- Balancing work amidst home renovations
- Time management during the upcoming plumber's visit and office shift
- Reflections on the role of time tracking in my business
- Appreciation for the listeners and sign off