It's About Time! The Journyx Blog

Startup Time!

Posted by Christa Freeland on 4/30/12 3:52 PM

Startup Time!Journyx provides efficient timesheet software for businesses large and small. We have covered many of our software's advantages in the past, from key integrations to small business advantages. One of the topics we discuss the most is the importance of building a backlog of data from which to learn, and we stand behind that. The value of a backlog of information is maximized if the business begins tracking time from the outset. However, many businesses do not realize the necessity of a robust time-tracking tool until much later, relying instead on less sophisticated paper-based methods or simply not tracking time at all. Any startup should definitely integrate time tracking as a core process.

For one thing, the disparity between what the startup founder thinks will take the most time and effort and whatactually takes up the majority of a company's time is often quite different. Even if a business is being “bootstrapped” and run by a small number of people, it is incredibly valuable to know what the greatest time sinks are for your company, and where more attention is needed. In many cases, it is not readily apparent that specific tasks are preventing other, more important duties from being performed. A time-tracking tool, and the discipline to use it, will reveal such issues quickly. Startups that can pivot to tasks with a greater ROI are often the ones who find the greatest success.

Another benefit of time-tracking for startups is derived from the first. By knowing exactly which tasks are time drains, you can determine what jobs can be outsourced and which ones require a dedicated employee. Take a company website, for instance. If the team is relatively inexperienced and spending a great deal of time coding the site, it might be a good idea to outsource the project so that they can focus on jobs that play to their strengths. If, on the other hand, the team is struggling with ongoing website maintenance issues, and the site goes down for extended periods of time, it might be better to go ahead and hire a programmer full-time. Remember, both skill set AND time should act as determinants for resource allocation.

I know what you’re thinking: one of the greatest challenges for startups is lack of cash. How can you afford an advanced time tracking solution? Well the good news is that Journyx provides its Timesheet application for free to all businesses with ten users or less. We want you to be successful, and we believe we can help. Get your time under control so you can determine the best path for your business, from startup to mature company.

Topics: Business Tips

leftblueAbout the Journyx Blog

Our passion for time and expense tracking, project accounting, helping companies know their costs and improve profitability, and motivating people all over the world to invest their time wisely knows no bounds. Join us on our journey as we sift through these fascinating topics and more.

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