Ever have those weeks where you feel like you’re just glued to your computer? By the end of the week you’re probably thinking, wow I really kicked some butt this week, Cha-Ching!
And then it hits you.
You can’t actually bill your client for all of that time.
As it turns out all of that butt-in-chair-time doesn’t quite equal billable-work-time.
So, what does it equal then? Why take the time to tediously track all of your unbillable tasks?
Doing research, writing proposals, accounting, and staff meetings are just a few of the essential unbillable tasks that are necessary for running a business.
And although time spent maintaining & growing your business doesn’t equal revenue, it does equal insight.
- Which clients are eating up all of your time with meetings, emails, and consultation call?
- Are your marketing efforts giving a good return on investment?
- Could you benefit from delegating or hiring someone new?
The answers to these questions stand to improve your productivity, work-life balance, and your wallet.
It’s a little ironic that the time you can’t bill for, is the most valuable time you spend during the day. I for one, think Alanis Morissette would agree wholeheartedly.
Top 5 Reasons for Tracking Unbillable Time
- Small unbillable tasks add up and can take away from time spent on important billable tasks.
- Understanding unbillable time helps you set realistic goals for earning revenue.
- Provides you with a prioritized list of things that can potentially be delegated, automated or made less redundant.
- Without data, you can’t make informed business decisions.
- You’ll quick find out which clients and projects aren’t worth keeping.
Unbillable time is like buried treasure
But you can’t get to the treasure without doing a bit of leg work.
Using unbillable tags in Freckle can help you navigate the high seas of tracking unbillable time and get you to that treasure without ever picking up a shovel.