Time sheets have long been a staple in the workplace, used to track employee productivity and billable hours. However, there is a growing movement that questions their effectiveness and usefulness.
One argument against time sheets is that they do not accurately reflect an employee's worth. An emplo...
You know one thing that really drives me up the wall is...Receiving a surprise bill. I get this quite often from solicitors. They’d be engaged on something like assisting with a new lease on a property and i’d receive a letter outlining their hourly rates.
Thanks - but your rates have nothing to d...
Clients don’t buy time from you. I don’t care how lovely you are, they are not paying you because they enjoy talking to you. They’re paying you because of the value you bring to the table. The solutions. The outcomes. The results. The peace of mind. These are what they’re paying for.
When you go to...
Have you ever asked yourself any of these questions before?
“What should I spend time measuring in my firm to ensure we keep growing?”
“How do I measure my clients' satisfaction with my services?”
“How can we measure whether we’re on track with our outcomes?”
If you have, then I must tell you th...
If we don't keep track of time, what should we measure instead?
So many to choose from
Whatever you measure, link it to the OUTCOME you are trying to achieve..
As a wise man once said 'anything that is watched and measured, IMPROVES'
For most businesses, being client focused is what's most im...
There is never a place for time-based billing!
This might be controversial to say, but it's a really lazy way to price. The concept of the billable hour was created back in the early 1900s by a chap called Reginald Heber Smith. He was a lawyer who created it to overcome the ills in his law firm. Fa...
Prospect: "It's too expensive"
You: My prospects are price sensitive
Reality: No they're not. Most people in life are not price sensitive. They are VALUE SENSITIVE. If the value we get is greater than the price being asked, we buy.
Value though lies in the eye the beholder. Different people val...
So big debate on keeping timesheets earlier in the week
If we don't keep track of time, what should we measure instead?
So many to choose from
Whatever you measure, link it to the OUTCOME you are trying to achieve..
As a wise man once said 'anything that is watched and measured, IMPROVES'
F...
Timesheets or no timesheets - that is the question
Always a subject which generates healthy debate
Which side of the fence are you on?
Still think timesheets have a place?
Or should they be binned into history forever
For #accountants and #lawyers IMHO they should be binned 🗑
Why?
Becaus...
STOP billing by the hour!
STOP using timesheets!
Time has nothing to do with what your clients value
Client's are not buying time from you
They are buying results, outcomes, solutions to problems
You are not a commodity
Your 'time' is not what you're selling
When you track time - or get y...
Do you still use timesheets in your firm? Now I know many accountants still do.
Even though, we've moved on to a different way of pricing clients on a fixed fee basis. But many accountants are still so attached to the timesheet, that even though they may not be billing based on the time and the clo...
If you're an accountant do you still use timesheets in your practice?
In my last mentoring session I did a poll. There were about 50 accountants there and more than half said that they still used timesheets in their practice.
Now the vast majority don't use timesheets for billing purposes. So they...