Published June 2004

When time is money: keeping track, keeping up

Dear BizBest: We bill for time at our business, so it’s both our biggest asset — and worst enemy when we waste it. As we grow, we need better systems for managing time and keeping track of who’s working on what project and for how long. I’ve already wasted time looking at solutions that don’t fit. Where can we get help? — Timely

Dear Timely: You sure hit a sensitive nerve. At BizBest, our goal is to help business owners work more effectively, and we are bombarded with letters and e-mails from entrepreneurs who say there aren’t enough hours in the day to get things done. Managing time efficiently, they say, is one of the most important things they do. So we often ask what actions they find most effective in managing their time wisely. Here are the top five responses:

• Make a “to do” list. Perhaps the most basic of all “time management” systems ever invented, this time-tested maneuver puts it all on the line, in one place, and helps you focus on one item at a time.
• Delegate. Many business owners accustomed to “doing it all” find this exceedingly difficult, but even if you are a solo operator, you can pass off tasks to others (via outsourcing, for example) to free up time for yourself.
• Analyze how time is spent. Divide the day into small time blocks and record what you (or others) were doing in each block. Compare this to your goals and priorities. Do they align?
• Put a lid on procrastination. Business owners with a “can do” attitude say that putting things off simply doesn’t work.
• Set clear goals for yourself and your employees. It’s not so much the clock that’s important, but the compass that gets you where you want to go.

More and more business owners are turning to desktop software and Web-based solutions for tracking and managing time. These resource and solution providers are helping over a million businesses squeeze more money out of every minute:

n Workarea.com, from Weblinc, is an Internet-based time-tracking system that can provide accurate billing information to the second. It includes a time clock, time sheet, expense tracking, address book and the ability to access via cell phone or PDA. Call 215-925-1800, e-mail support@workarea.com.

n The TimeClock Plus Small Business Edition (www.timeclockplus.com) lets you turn any PC into a time clock. Employees can sign in or out with the keyboard or mouse and easily allocate hours and costs to specific jobs. Call 800-749-8463.

n TimeCentre (www.timecentre.net) does time and attendance management for many larger organizations, but also offers a desktop system called TimeCentre EZ for small business. This system can eliminate manual calculations and automate your timekeeping and task-tracking duties. Call 800-326-2276.

n The folks at Indigo Technologies have developed a one-click time-tracking system called TimeTiger (www.timetiger.com) that’s remarkably painless. A TimeTiger on-screen to-do list shows all the items you could be working on. Just click on and off the items to start and stop the clock. At the end of the day, press “log time” and produce your timesheet. Call 800-300-6076, e-mail info@indigo1.com.

n TimeDirect (www.timedirect.com), from World Anthem Technologies, targets business owners who’ve been using spreadsheets to track time and expenses. This is a Web-based solution you can get up and running in a day. It delivers data right to your browser. Free 30-day test drive. Call World Anthem at 215-534-5700.

n Timewatch (www.timewatch.com) provides businesses of all sizes with time recording, billing, scheduling and project management solutions. Call 212-221-9200, e-mail info@timewatch.com.

n Dovico Software (www.dovico.com) offers timesheet and project-tracking software for all types and sizes of business. Call 800-618-8463.

n Other time-tracking solutions are available from TimeAmerica (www.vitrix.com), Elite Online Solutions (timebilling.elite.com) and TimeLedger (www.timeledger.com).

BizBest publishes “The 100 Best Resources for Small Business” and other resource directories. Visit www.bizbest100.com. E-mail questions to dan@bizbest.com.

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