As a freelancer, self-employed professional, or small business owner, you know the importance of time management. Tracking your time is the key to achieving a more successful and profitable business. But why? In this article, Drayton Bird explains why time tracking is essential for professional freedom.

1. Maximise Productivity

Time tracking will help you identify roles and tasks that are taking up more of your time than they should and ensuring that all the activities you undertake are productive, rather than time-wasting.

It will keep you focused on the tasks that are the most important and identify any areas where you are wasting time. Once you know where you are wasting time, you can adjust your workflow and make the necessary changes to maximise your productivity.

2. Improve Financial Health

When you track your time, you can see how it translates into money. Time equals money and so, by tracking your time, you can see exactly how much you are earning at any time.

Tracking your time is an essential tool for any freelancer, self-employed professional, or small business owner who wants to make sure that they are charging the correct rate for their services or running a profitable business.

3. Make Better Decisions

By tracking your time, you can more accurately and confidently make decisions about which projects to take on and investments to make. You can also decide if it’s worth delegating certain tasks or hiring additional staff.

Time tracking will give you a better understanding of how much time each task takes and what you can get done in a certain time frame. This means you can more easily delegate tasks, hire staff, and make better use of your time.

4. Uncover Room For Improvement

Time tracking will give you a better understanding of where you could be improving your workflow and processes. Knowing how long each task takes and how much you are earning from it will help you to identify areas where you can increase efficiency or adjust your rates.

For example, if you find that you are spending an inordinate amount of time on a task that you are not getting paid enough for, you may be able to modify your process or increase your rates so that it becomes more financially viable.

5. Improve Work Life Balance

Time tracking can help you to balance the amount of time you spend on work and personal activities. If you know how much time you are spending on work, it is easier to plan when to switch off and enjoy your free time.

You can use time tracking to schedule when to work and when to take breaks and holidays. This will ensure that you don’t end up working too much and burning out.

Conclusion

Tracking your time is an essential skill for any freelancer, self-employed professional, or small business owner. If you can learn to use it effectively, it can improve your productivity, financial success, and ultimately, help you to create more personal freedom. So, what are you waiting for? Get tracking your time and make the most out of your career!