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Top 5 Reasons for Tracking Unbillable Time

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.

photo cc: jaci XIII

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.

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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

  1. Small unbillable tasks add up and can take away from time spent on important billable tasks.
  2. Understanding unbillable time helps you set realistic goals for earning revenue.
  3. Provides you with a prioritized list of things that can potentially be delegated, automated or made less redundant.
  4. Without data, you can’t make informed business decisions.
  5. 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 Noko can help you navigate the high seas of tracking unbillable time and get you to that treasure without ever picking up a shovel.

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