No matter what stage you’re at in business, time tracking is absolutely worth it. Knowing how you spend your time allows you to measure productivity. That’s why I use the Toggl Track App to track all of the time I spend working on and in my small business. Of course, you’ve heard the saying “time is money” over and over again. I actually prefer to think of it as “time is valuable.”
Time is the one resource we all have the same amount of.
You and me have a level playing field when it comes to the number of hours in a day. It’s how we spend that finite and highly valuable resource that makes the difference. So time isn’t really money, if we’re not using our time in a valuable way.
How can you know if the time you’re spending in your small business is valuable? What is the end result, the product, of your time? Is your time producing anything? Is your time producing anything of value? Or are you simply just busy? A lot of people, myself included can fall into the trap of being busy but not actually being productive. Productive is where the revenue, the payout for our small business work is at. Being productive should be our goal as small business entrepreneurs – not being busy.
So even though it’s summer and you might be spending a lot more time outdoors working or having fun. I want to suggest that you start tracking all of your work time so that you can go back and examine the data later.
And friend, if time = value then data = power.
Tracking your time is a powerful tool.
But like any other tool, you have to know how to use it and use it regularly to truly master it. Once you do, you can use the data from your time tracking efforts to determine where your time is best spent. But who has time to write down all the things they do in their business? Not me! That’s why I use the Toggl Track app.
I’ve been using the Toggl Track app for my small business since 2019 and friend, it is the most powerful app I use in my business on a daily basis. The app has both a mobile and a desktop version and information syncs across platforms. So if I’m working on a project on my desktop and then head out onto the ranch to record some video for that same project, but the goats get out and I have to track them down… I can simply pull my iPhone out of my pocket and stop the time tracker while I chase down those sneaky goats.
Once those sneaky goats are safely back in their pen (for the time being), I can start the time tracker again and go back to working on my video. Later I can analyze my data to see if making videos helps to improve engagement on my social media, which leads to visits to my website, which results in purchases from my template shop. The result is my being able to make a call on whether or not to put any future effort into making videos.
Without the tracking information I might forget to take into account the actual time it takes to shoot and produce the video. If I just based my decisions on social media engagement I might be get a false sense of what is and what isn’t worth it.
Time Tracking Helps You Determine if Your Time Investment is Worth it!
As a small business entrepreneur, we have to look at the full range of the production cycle. We can’t just look at the price per pound of hamburger to determine whether or not we should raise beef cattle. We have to look at all of the cost and time that goes into producing that animal and that final product.
I also use the Toggl Track app to track work I do for my clients. It keeps billing simple and fast for my monthly clients and helps me to go back and make strong educated guesses as to how much a certain type of project will take from start to finish.
As I mentioned earlier, Toggl is the single most valuable app I use in my business… and friend, I use a lot of apps.
If you’d like to try out Toggl you can click right here and try it out for free for 30-days. Remember it’s only powerful if you use it! And the more data you include in your time tracker notes… the better!