Why you need to be tracking time
Time to read: 2-3 minutes
A minute here, a minute there. Tick, tock, tick, tock. Off runs the rabbit carrying your freelancer’s time. Is that all you charged your client, I’m sure you worked more than that? For small event companies, time tracking can sometimes feel like an extra unnecessary burden. Keeping every minute logged takes up a good portion of your evening, and you know how much you’ve agreed to charge your client so what’s the point?
You’ll naturally optimise your hours
It’s an important part of cost control, and there’s a reason everyone’s doing it. Time tracking encourages you, as an individual, to focus. It shows you how your hours are being spent. The life of an event planner can sometimes feel like there’s no extra space for something like admin, but you’ll find with the extra productivity boosting fuel provided by time tracking you’ll be optimising your hours in a way you didn’t know was possible.
So will everyone else
You can’t log “checking Facebook” into a time tracking system for work. I’m not saying everyone will start working every minute that you’re paying them to, but they’ll be a lot more aware of the time they’re wasting, and what that time’s costing you. They’ll also be aware of what does, and doesn’t, take them a long time, and be able to adjust their working days accordingly.
You’ll have a better idea of what your margins REALLY are
Event companies can have a terrible habit of losing out on revenue they deserve. Keeping track of every minute means you know how much you should be charging your client.