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The Benefits of Using Time Tracking Tools for Small Businesses

The Benefits of Using Time Tracking Tools for Small Businesses

Whether you are the only person in your small business, or you have employees, you still need to know how to track the time spent on various projects. You might be surprised to learn just how much money a business can lose, just because too much time is wasted on one thing or another. When you are using a time tracking tool, you get to see just how much time is needlessly spent in certain areas, and which areas need more time and energy. Let’s take a look at the benefits of using time tracking tools.

Help with Estimating Time

In most cases, we are not very good at estimating time. We give ourselves too much credit by thinking that we can do things a lot faster than we really can. On the other hand, we don’t give ourselves enough credit because we often think that a job will take a lot longer than it actually does. When you are using a time tracking tool, you will know how much time it takes to do various tasks, and you will be able to schedule yourself and your employees appropriately.

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Most humans are not able to estimate time properly. It is easy to trick ourselves into thinking that we have too much or too little time. That is often why enjoyable events seem to end quickly, while boring events seem to go on and on forever. So, we often end up wasting a lot of time, because we are not able to properly estimate time. A time tracking tool keeps you from having to worry about over or under-estimating time, and the ability of you or your employees to get things done in a certain period of time.

Track in Real Time

Tracking hours alone isn’t going to increase your profitability. You need to be able to track in real time, so you know exactly what is going on. Time Doctor is a tool that lets you do this, and by doing so, you can save a lot more money than if you are just tracking time manually. For example, companies that track time manually can save up to $3,500 annually. But, companies that use an actual tracking tool can save over $15,000 each year.

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Save Money

When you lose time, for any reason, you lose money. Studies show that combined, our economy loses as much as $7.4 billion each day, just because of wasted time in the workplace. Time tracking tools will help you to improve estimates and be able to plan better, analyze your profitability, and optimize your processes and staffing. You might be surprised to learn that annually, you can save more than $10,000 per team, just by using a time tracking tool.

What can you do with the money you save? Anything you like! You can use it to start a new business, because if you are successful with one, you are likely to be successful with other ventures. Or, you can use it to take a trip, buy a new home or a car, or anything else that your heart desires.

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To sum things up, what you need to do is spend your time working, and not worrying about tracking time manually. If you haven’t taken the time to do so, take a look at just how much time you are wasting by manually tracking everything. You can save so much time, and money, by using a good tracking tool. It won’t be long before you start seeing a huge increase in your profits, and you will wonder how you ever did business without such a great tool at your disposal.

Featured photo credit: Lauren Goode via allthingsd.com

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Jane Hurst

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Last Updated on September 20, 2018

7 Powerful Questions To Find Out What You Want To Do With Your Life

7 Powerful Questions To Find Out What You Want To Do With Your Life

What do I want to do with my life? It’s a question all of us think about at one point or another.

For some, the answer comes easily. For others, it takes a lifetime to figure out.

It’s easy to just go through the motions and continue to do what’s comfortable and familiar. But for those of you who seek fulfillment, who want to do more, these questions will help you paint a clearer picture of what you want to do with your life.

1. What are the things I’m most passionate about?

The first step to living a more fulfilling life is to think about the things that you’re passionate about.

What do you love? What fulfills you? What “work” do you do that doesn’t feel like work? Maybe you enjoy writing, maybe you love working with animals or maybe you have a knack for photography.

The point is, figure out what you love doing, then do more of it.

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2. What are my greatest accomplishments in life so far?

Think about your past experiences and the things in your life you’re most proud of.

How did those accomplishments make you feel? Pretty darn good, right? So why not try and emulate those experiences and feelings?

If you ran a marathon once and loved the feeling you had afterwards, start training for another one. If your child grew up to be a star athlete or musician because of your teachings, then be a coach or mentor for other kids.

Continue to do the things that have been most fulfilling for you.

3. If my life had absolutely no limits, what would I choose to have and what would I choose to do?

Here’s a cool exercise: Think about what you would do if you had no limits.

If you had all the money and time in the world, where would you go? What would you do? Who would you spend time with?

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These answers can help you figure out what you want to do with your life. It doesn’t mean you need millions of dollars to be happy though.

What it does mean is answering these questions will help you set goals to reach certain milestones and create a path toward happiness and fulfillment. Which leads to our next question …

4. What are my goals in life?

Goals are a necessary component to set you up for a happy future. So answer these questions:

Once you figure out the answers to each of these, you’ll have a much better idea of what you should do with your life.

5. Whom do I admire most in the world?

Following the path of successful people can set you up for success.

Think about the people you respect and admire most. What are their best qualities? Why do you respect them? What can you learn from them?

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You’re the average of the 5 people you spend the most time with.[1] So don’t waste your time with people who hold you back from achieving your dreams.

Spend more time with happy, successful, optimistic people and you’ll become one of them.

6. What do I not like to do?

An important part of figuring out what you want to do with your life is honestly assessing what you don’t want to do.

What are the things you despise? What bugs you the most about your current job?

Maybe you hate meetings even though you sit through 6 hours of them every day. If that’s the case, find a job where you can work more independently.

The point is, if you want something to change in your life, you need to take action. Which leads to our final question …

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7. How hard am I willing to work to get what I want?

Great accomplishments never come easy. If you want to do great things with your life, you’re going to have to make a great effort. That will probably mean putting in more hours the average person, getting outside your comfort zone and learning as much as you can to achieve as much as you can.

But here’s the cool part: it’s often the journey that is the most fulfilling part. It’s during these seemingly small, insignificant moments that you’ll often find that “aha” moments that helps you answer the question,

“What do I want to do with my life?”

So take the first step toward improving your life. You won’t regret it.

Featured photo credit: Andrew Ly via unsplash.com

Reference

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