The Importance Of Time Recording With Toggl's Ilia Markov
- S4E174
- 30:05
- June 29th 2023
In this episode of The Agency Accelerator, Ilia Markov from the time tracking management tool, Toggl, discusses the importance of time recording and how it will help agencies manage their capacity, productivity, and profitability.
We explore how time tracking is not just about billing clients, but is also a way to analyse where time is going, identify areas for improvement, and optimise operations.
We outline the metrics that should be measured, such as billable versus non-billable time percentages, and what constitutes too much billable time. Finally, Ilia emphasises that time tracking is not a tool for spying on employees, but rather to spot inefficiencies, identify early warning signs of burnout, and optimise work.
Quotations
"The highest performing agency usually are somewhere in the vicinity of 75%, meaning 75% of a client facing employee's total time ends up on an invoice."— Ilia Markov
"Regardless of the pricing model that you use, it's important to understand how you are using your main resource...your people! It's very important to understand where their time is going and how it is used." — Ilia Markov
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Useful links mentioned in this episode:
- Toggl (Get 20% off an annual plan using discount code ACCELERATOR)
- Ilia's LinkedIn profile
- Join my twice monthly FREE live agency workshops
The Agency Accelerator
Busy agency owners can have a hard time balancing delivering exceptional work with finding ideal new clients - all the while, ensuring the smooth running of their agency.
Every Thursday, join Rob Da Costa, agency owner and coach, as he explores the key topics that affect you and your agency. I share tools and ideas to aid your profitable growth as well as interview industry expert guests, who share their experiences of working in or with agencies just like yours.
Whether you are just starting out or running an established growing agency, whether you run an online or bricks & mortar agency, this is the podcast for you.
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