Whether you are just getting started in your VA business, or if you are looking to grow, you will need to have a solid time tracking system in place.
Effectively and accurately tracking your time is something that seems easy to do, but can just as easily get out of control if you let it.
‘Losing time’ can not only set your schedule behind, lead to disorganization and late night catch-up, but it can also impact your revenue if you forget to bill for work done.
Many VAs I talk to think that time tracking is a chore that they can’t wait to get away from – but I say not so fast!
Here are a few reasons why:
Why should I track my time?
First of all, you need to track your time because you need to know how you are spending your day.
How much of your time is being spent on billable work? Non billable work? Wasted time? Things you dislike doing?
If you write it all down, it will be easier to assess where you can make adjustments to make your business more profitable .. and more fun too!
Also, as you start to get busier, the day can disappear right before your eyes.
You want to be sure you are not losing out on billable time simply because you didn’t write it down… this is a VERY common issue for VAs.
When should I track my time?
You need to track it every day, every hour, every minute.
Okay so I don’t condone billing by the minute – but I do believe that you have to know what you did as many minutes of your day as possible, so you do need to be aware of it.
There are resources (see a few below) that can help you do this by using stopwatch to stop and start a timeclock (I hate these personally, but many VAs need them and that’s okay too), or you can do it the old fashioned way by writing it down.
I use a simple spiral notebook and record every task I do every day (even breaks, lunch, and my own business stuff). One page per day and I can tell you what I have worked on – and the time each of those things took.
By keeping a paper or digital record of everything that was done each day and how long it took, you don’t lose time – especially if it’s billable to a client.
How should I record tasks?
Your recording method should be whatever way makes the most sense to you … whatever is easiest for you.
If you choose a complicated system or one that confuses you, you will run into trouble because it will be more work than it’s worth.
A system only works when you use it. My system is super simple … I write my clients’ initials at the beginning of each line, and I record the task item I took care of for them beside it, along with the time it took.
Now I also have billable times for all of the tasks that I do, and that’s the time that I record.
I charge my clients on retainer (or by project rate) – I don’t need to track my time, do I?
Of course you still need to track your time!
What if you client goes over your budgeted time… or is way under?
Even if you are working with someone on a project rate, it’s important to keep track of the hours you are putting in.
When you decide to revisit your rate package (which you should do often!) you will have an exact measure of how long projects are taking you to do.
If you are working with someone on retainer, you need to be able to assure them that all of the deliverables you provided for the month are completed. Recording your time is helpful in both of these situations.
Developing a great system to keep track of how you are spending your time is smart business.
There are all kinds of resources out there (some free, some paid) that can help you manage this part of your business.
Clockify (https://clockify.me/) is one of the most popular systems and it’s free. Toggl https://toggl.com/) is also quite popular.
Honestly there are so many solutions that you just need to Google ‘time tracking software’ to find one that will work for you.
But no matter which system you go with (even if it’s just pen and paper), be sure that you use it.
Your business, your client and your bank account will thank you!
What you should do next:
If you need some help with managing your time, or tracking it better, The Virtual Circle is where you should be.
TVC is a small group of professional VAs who are getting things done in their business through weekly support and training. It’s a low cost, high-value coaching alternative to private coaching.
If you are struggling through your VA business at all it’s time to sign up. Your investment of $129 can translate into clients in just ONE month, because we will help you set up your plan and take those daily actions. Let’s go!