Stop Wasting Time By Tracking It
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Transcript of Stop Wasting Time By Tracking It
M I C H A E L P A R L E RC H I E F O F S T R A T E G Y
W W W . P R P L . R S@ P R P L R C K S C S S R S@ M I C H A E L P A R L E R
D o n’ t Wa s t e Yo u r Ti m e By Tra c k i n g I t
Tra d i n g Ti m e f o r M o n e y
Un d e r s t a n d i n g t h e r e l a t i o n s h i p s b e t w e e n t i m e , m o n e y , p r o d u c t i v i t y a n d v a l u e
To W h o m T h e s e C o n c e p t s Ap p l y. . .
S A L A R I E D E M P LOY E E S
M A N A G E R S
E N T R E P R E N E U R S
I N V E N T O R S & I N N O VAT O R S
B U S I N E S S OW N E R S
T h e s e C o n c e p t s A r e No t Fo r. . .
“ B E A N C O U N T E R S ”
R E P E T I T I V E L A B O R E R S
A PAT H E T I C
L U D D I T E S
C LO C K WAT C H E R S
T h e C l a s s i c E x c h a n g e
$
R e n t i n g y o u r T i m e i n e x c h a n g e f o r M o n e y
J O B
J O BJ u s t O v e r B r o k e
R a t e X T i m e = E a r n i n g s
An In c o m p l e t e E q u a t i o n
An In c o m p l e t e E q u a t i o n
b u t w h e r e i s P r o d u c t i v i t y ?
R a t e X T i m e = E a r n i n g s
An In c o m p l e t e E q u a t i o n
w h e r e i s Va l u e ?
R a t e X T i m e = E a r n i n g s
A Better Formula:
MONEY
TIMEOVER
A Better Formula:
MONEY
TIMEOVER
D o w n l o a d f o r Fre e : f r e s h b o o k s . c o m / b l o g / 2 0 1 3 / 0 6 / 1 2 / b r e a k i n g t h e t i m e b a r r i e r /
To d a y ’s To p i c s : V a l u e & P o t e n t i a l
R e a d & L a u g h : d i l b e r t . c o m
To d a y ’s To p i c s : C o r p o r a t e C u l t u r e
D a v i d A l l e n : T h e A r t o f S t r e s s - F r e e P r o d u c t i v i t y
Wa t c h : y o u t u b e . c o m / w a t c h ? v = C H x h j D P K f b Y
T E D x C l a r e m o n t C o l l e g e s
To d a y ’s To p i c s : P r o d u c t i v i t y
L e t’ s t a l k a b o u t
Ti m e
24 Hours / Day168 Hours / Week. 728 Hours /
Month. 8760 Hours / Year.
EVERYONE HAS
Ap p r o p r i a t e Ti m eM a n a g e m e n t
U R G E N T N O T U R G E N TIM
PO
RT
AN
TN
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IM
PO
RT
AN
T
C r i s i sD e a d l i n e s
S o m e M e e t i n g s
P l a n n i n g & S t r a t e g yR e l a t i o n s h i p B u i l d i n g
P e r s o n a l D e v e l o p m e n t
I n t e r r u p t i o n sS o m e E m a i l s
S o m e M e e t i n g s
Tr i v i a l M a t t e r sT i m e - K i l l e r s
“ N u m b i n g O u t ”
I : F i r e s I I : E x c e l l e n c e
I I I : D e c e p t i o n I V : E s c a p e & W a s t e
T h e E i s e n h o w e r M e t h o d : e n . w i k i p e d i a . o r g / w i k i / Ti m e _ m a n a g e m e n t
Ti m e s h e e t s
Ti m e s h e e t s
A m e t h o d f o r r e c o r d i n g t h e a m o u n t o f a w o r k e r ' s t i m e
s p e n t o n e a c h j o b .
Ti m e s h e e t sA d v a n t a g e s
- E a s y P a y r o l l P r o c e s s i n g- V i s i b i l i t y t o E x p e n s e s- F u t u r e B u d g e t P l a n n i n g
- M e t h o d t o I n v o i c e C l i e n t s
Ti m e s h e e t sA d v a n t a g e s
D i s a d v a n t a g e s- E a s y P a y r o l l P r o c e s s i n g- V i s i b i l i t y t o E x p e n s e s- F u t u r e B u d g e t P l a n n i n g
- M e t h o d t o I n v o i c e C l i e n t s- R e p e t i t i v e- S t r e s s f u l t o E m p l o y e e s- P r o n e t o H u m a n E r r o r
- P e r v e r s e I n c e n t i v e s
PAY R O L LP R O C E S S I N G
PAY R O L LP R O C E S S I N G
H U M A NE R R O R
B U D G E TP L A N N I N G
B U D G E TP L A N N I N G
H U M A NE R R O R
C O M PA N YE X P E N S E S
C O M PA N YE X P E N S E S
H U M A NE R R O R
H U M A NE R R O R
In a c c u ra t e R e p o r t i n g
D i l b e r t / S c o t t A d a m s : d i l b e r t . c o m / s t r i p s / c o m i c / 1 9 9 6 - 0 4 - 2 6 /
S i n c e A p r i l 2 6 , 1 9 9 6
EmployeeTimesheets
C a s c a d i n g I s s u e s
Payroll &Invoices Clients
Under-perform / Overpaid
Over-perform / Underpaid
Project / Budget Overrun
Breakdown of Trust
Misrepresented Estimates
Poor Justification of ValuePerverse Incentives
Uncontrolled Costs
L e t’ s t a l k a b o u t
Va l u e
W h a t i s Wo r k i n t o d a y’ s m a r k e t p l a c e ?
21st Century Economics
L o c a l i z e d E c o n o m y Gl o b a l E c o n o m y2 0 T H C E N T U RY E C O N O M I C S 2 1 s t C E N T U RY E C O N O M I C S
- B l u e C o l l a r & M a n u a l L a b o r
- R e p e t i t i v e / M a n u a l Ta s k s
- L i m i t a t i o n s o f L o c a l R e s o u r c e s
- Tr a d i t i o n a l E d u c a t i o n & Tr a i n i n g- Te n u r e , P e n s i o n s , R e w a r d s f o r
I n v e s t i n g T i m e
- E m p l o y e e s Tr a d e T i m e f o r M o n e y
- W h i t e C o l l a r / G r e e n C o l l a r
- R e p e t i t i v e & D a n g e r o u s J o b s a r e A u t o m a t e d
- G l o b a l R e s o u r c e s / O u t s o u r c i n g- C o m m o d i f i c a t i o n / R a c e t o Z e r o
- R e w a r d s f o r G r o u n d b r e a k i n g I d e a s ( I n t e l l e c t u a l P r o p e r t y )
- E m p l o y e e s Tr a d e S k i l l s & I d e a s f o r Va l u e
T h e r e i s a Wa r o n Wo r k
T h e r e i s a Wa r o n Wo r k
Va l u e i s E v e r y t h i n g
Work in the 21st Century
In v e n t i o n & In s p i ra t i o nCr e a t i o n & C o n n e c t i v i t y
Emails
Wo r k i n t h e 2 1 s t C e n t u r y
Blogs
Co!ee
Breakfast
Ideas
Meetings
Lunch Inspiration
Meetings
Youtube
Television
Dinner
Wikipedia
Meetings
Commute
Morning Afternoon Evening
Emails
Commute
Phone Calls
Strategy Phone Calls
LinkedInReports
ReflectionAnalysisPlanning Interruptions Ping-Pong
C A N YO U F I N D T H E WO R K ?
Emails
Blogs
Co!ee
Breakfast
Ideas
Meetings
Lunch Inspiration
Meetings
Youtube
Television
Dinner
Wikipedia
Meetings
Commute
Morning Afternoon Evening
Emails
Commute
Phone Calls
Strategy Phone Calls
LinkedInReports
Reflection
W h a t d e f i n e s y o u r p r o d u c t i v i t y ?
AnalysisPlanning Interruptions Ping-Pong
Wo r k i n t h e 2 1 s t C e n t u r yC A N YO U F I N D T H E WO R K ?
Emails
Blogs
Co!ee
Breakfast
Ideas
Meetings
Lunch Inspiration
Meetings
Youtube
Television
Dinner
Wikipedia
Meetings
Commute
Morning Afternoon Evening
Emails
Commute
Phone Calls
Strategy Phone Calls
LinkedInReports
Reflection
W h a t v a l u e d o t h e s e a c t i v i t i e s p r o v i d e ?
AnalysisPlanning Interruptions Ping-Pong
Wo r k i n t h e 2 1 s t C e n t u r yC A N YO U F I N D T H E WO R K ?
Emails
Blogs
Co!ee
Breakfast
Ideas
Meetings
Lunch Inspiration
Meetings
Youtube
Television
Dinner
Wikipedia
Meetings
Commute
Morning Afternoon Evening
Emails
Commute
Phone Calls
Strategy Phone Calls
LinkedInReports
Reflection
W h y d o w e l i e t o o u r s e l v e sb y t r a c k i n g t i m e ?
AnalysisPlanning Interruptions Ping-Pong
Wo r k i n t h e 2 1 s t C e n t u r yC A N YO U F I N D T H E WO R K ?
Gre a t I d e a s Ta k e Z e r o Ho u r s
C i t i l o g o b y Pa u l a S c h e r
L e a r n M o re : b r e e z y c r e a t i v e d e s i g n . c o m / 2 0 1 0 / 0 5 / 0 4 / c i t i - l o g o - b y - p a u l a - s c h e r /
C i t i l o g o b y Pa u l a S c h e r
H o w c a n a m u l t i - b i l l i o n d o l l a r o r g a n i z a t i o n b a s e t h e i r i d e n t i t y o f f o f a s e c o n d ?
A n s w e r : “ i t ’ s a s e c o n d d o n e i n 3 4 y e a r s ”
L e a r n M o re : b r e e z y c r e a t i v e d e s i g n . c o m / 2 0 1 0 / 0 5 / 0 4 / c i t i - l o g o - b y - p a u l a - s c h e r /
Un d e r v a l u e d Pr o d u c t i v i t y
D i l b e r t / S c o t t A d a m s : d i l b e r t . c o m / s t r i p s / c o m i c / 1 9 9 5 - 0 9 - 1 5 /
S i n c e S e p t e m b e r 1 5 , 1 9 9 5
L e t’ s t a l k a b o u t
Pr o d u c t i v i t y
Ti m e i s In f i n i t e . Yo u r Ti m e i s No t .
W h a t d o y o u d o w i t h y o u r 2 4 h o u r s ?
W h a t i s t h e v a l u e o f y o u r 2 4 h o u r s ?
A r e y o u r 2 4 h o u r s p r o d u c t i v e ?
LifeWork
2 0 t h C e n t u r y C o n c e p t s
Internet
LifeSocial MediaNetworking
Work
CreativityPassion
Learning
B l u r r i n g t h e L i n e s
Productivity
S i m p l e & E f f e c t i v e
Chal
leng
e
Skills
Apathy
Anxiety
Boredom
Peak Performance
Flow Channel
Cruisers & Losers: People who like Time SheetsDynamos: People who hate Time Sheets
“Flow” by Dr. Mihaly Csikszentmihalyi
F l o w : e n . w i k i p e d i a . o r g / w i k i / F l o w _ ( p s y c h o l o g y )
(mee-hy cheek-sent-mə-hy-ee)
David Maister:
“ Wa l l y”
b o r e da p a t h e t i c
d i s e n g a g e dj u s t c r u i s i n g
c l o c k - w a t c h i n g
“ Wa l l y”
N oP r o d u c t i v i t y
“ Wa l l y”
“ Wa l l y”
T i m e i s Wa s t e d
“ F l o w”
i n t h e m o m e n tp r e s e n t
i n t h e z o n eo n a r o l lw i r e d i n
i n t h e g r o o v eo n f i r e
“ F l o w”
i n t h e m o m e n tp r e s e n t
i n t h e z o n eo n a r o l lw i r e d i n
i n t h e g r o o v eo n f i r e
T i m e i s I r r e l e v a n t
“ F l o w”
i n t h e m o m e n tp r e s e n t
i n t h e z o n eo n a r o l lw i r e d i n
i n t h e g r o o v eo n f i r e
T i m e i s I r r e l e v a n t
P r o d u c t i v i t y i s E v e r y t h i n g
“ F l o w”
A c u l t u r e w i t h o u t Ti m e S h e e t s w i l l a t t ra c t m o r e t a l e n t w h o l i k e
w o r k i n g i n t h e F l o w .
To u g h Q u e s t i o n s
C F O : “ Ho w d o w e m e a s u r e p r o f i t a b i l i t y ? ”
C E O : “ Ho w d o w e m e a s u r e p r o d u c t i v i t y ? ”
C O O : “ Ho w d o w e m e a s u r e a c c o u n t a b i l i t y ? ”
L e t’ s t a l k a b o u tM o n e y
Productivity
C l e a r Go a l sAp p r o p r i a t e En g a g e m e n t
D i r e c t Fe e d b a c k
Peak Performance
Ev e r y t h i n g i s a P r o j e c t
Ev e r y P r o j e c t h a s Va l u e
Pe r f o r m o n e v e r y P r o j e c t
Budget
TimeQuality
C l a s s i c a l P r o j e c t M a n a g e m e n t
Budget
TimeQuality
Pr o j e c t M a n a g e m e n t i n D i f f e r e n t Te r m s
Money
ProductivityValue
M e a s u r e m e n t To o l s F o r M a n a g e r s
Tra c k i n g & An a l y z i n g R e s o u r c e Us a g e
( . . . y e s , I m e a n “m o n e y” )
M e a s u r e m e n t To o l s F o r M a n a g e r s
Tra c k i n g & An a l y z i n g R e s o u r c e Us a g e
Project Manager Graphic Designer
Web DeveloperContent Writer
- P r o j e c t O v e r s i g h t
- N e t w o r k i n g / B i z D e v
- C l i e n t & P r o j e c t M a n a g e m e n t
- R i s k A n a l y s i s & M e d i a t i o n
- C r e a t i v e C o n c e p t s
- G r a p h i c s & A s s e t s
- We b s i t e I n t e r f a c e s
- P r i n t M a t e r i a l
- C r e a t i v e C o n c e p t s
- A d s / C o p y w r i t i n g
- S o c i a l M e d i a M a n a g e m e n t
- Wr i t i n g P r o p o s a l s
- We b s i t e D e v e l o p m e n t
- M a i n t e n a n c e & S u p p o r t
- G e n e r a l O f f i c e I T
E x a m p l e : S t a r t - u p C o m p a n y X Y Z
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gross Annual Costs . . . . . $168,000
Annual Target . . . . . . . . . . . $201,600
Target Profit Margin . . . . . . . . . 20%
Quarterly Target . . . . . . . . $50,400
Monthly Target . . . . . . . . . . $16,800
Profit Value . . . . . . . . . . . . . $33,600
Semi-Annual Target . . . . $100,800
C o m p a n y X Y Z ’ s F i n a n c i a l s
MONEY
TIME
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gross Annual Costs . . . . . $168,000
Annual Target . . . . . . . . . . . $201,600
Target Profit Margin . . . . . . . . . 20%
Quarterly Target . . . . . . . . $50,400
Monthly Target . . . . . . . . . . $16,800
Profit Value . . . . . . . . . . . . . $33,600
Semi-Annual Target . . . . $100,800
C o m p a n y X Y Z ’ s F i n a n c i a l s
OVER
A Better Formula:
A Better Formula:
MONEY
TIME
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gross Annual Costs . . . . . $168,000
Annual Target . . . . . . . . . . . $201,600
Target Profit Margin . . . . . . . . . 20%
Quarterly Target . . . . . . . . $50,400
Monthly Target . . . . . . . . . . $16,800
Profit Value . . . . . . . . . . . . . $33,600
Semi-Annual Target . . . . $100,800
C o m p a n y X Y Z ’ s F i n a n c i a l s
OVER
...without worrying about hours. Just deadlines.
Pr o d u c t i v i t y D r i v i n g Gr o w t h
Productivity is the ratio of output to inputs in production. It is a measure of e"ciency.
Pr o d u c t i v i t y D r i v i n g Gr o w t h
Productivity is the ratio of output to inputs in production. It is a measure of e"ciency.
INPUTOUTPUT
TO
Pr o d u c t i v i t y D r i v i n g Gr o w t h
Productivity is the ratio of output to inputs in production. It is a measure of e"ciency.
MONEY
TIMEOVER
INPUTOUTPUT
TO
Pr o d u c t i v i t y i s a b o u t g e t t i n g t h i n g s d o n e .
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
C o m p a n y X Y Z ’ s P r o j e c t Tra c k
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$35,000
$20,000
$35,000
Target: $201,600
“ Mo n e y O v e r Ti m e”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$35,000
$20,000
$35,000
Earnings: $127,000
Target: $201,600
“ Mo n e y O v e r Ti m e”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$35,000
$20,000
$35,000
Remaining: $74,600Earnings: $127,000
Target: $201,600
“ Mo n e y O v e r Ti m e”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$35,000
$20,000
$35,000
Earnings: $127,000
Target: $201,600
Remaining: $74,600
Potential: $254,000
Potential: $127,000
“ Mo n e y O v e r Ti m e”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$35,000
$20,000
$35,000
Unexpected Project Overruns
“ Mo n e y O v e r Ti m e”
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$20,000
$35,000
Project Impact & Ripple E!ect
“ Mo n e y O v e r Ti m e”
$35,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
$20,000
$35,000
Project Delays, Late Starts
“ Mo n e y O v e r Ti m e”
$35,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
Actual: $99,500 ($100,800)
“ Mo n e y O v e r Ti m e”
$20,000
$35,000
$35,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Project 1
Project 2
Project 3
Project 4
Project 5
$25,000
$12,000
Actual: $99,500 ($100,800) Up Hill Battle: $102,100
“ Mo n e y O v e r Ti m e”
$20,000
$35,000
$35,000
Pr o d u c t i v i t y i s a b o u t D e a d l i n e s .
M a n a g e D e a d l i n e s .No t Ti m e .
B e n c h m a r k sw i t h o u t Ti m e s h e e t s
Money
ProductivityValue
An a l y z e t h e B e n c h m a r k s
Value
- D o h i s p r o j e c t s m e e t o u r s t a n d a r d o f e x c e l l e n c e ?
- D o e s s h e o p e r a t e i n t h e b e s t i n t e r e s t o f o u r c o m p a n y ?
- D o e s h e h a v e g r o u n d b r e a k i n g i d e a s t h a t m o v e t h e n e e d l e ?
An a l y z e t h e B e n c h m a r k s
Productivity
- I s s h e m e e t i n g p r o j e c t d e a d l i n e s ?
- I s h e f l e x i b l e a n d u n d e r s t a n d i n g w i t h s c h e d u l e s ?
- C a n s h e o p e r a t e i n t h e F l o w ?
An a l y z e t h e B e n c h m a r k s
Money
- I s h e g e n e r a t i n g a n a p p r o p r i a t e a m o u n t o f t a r g e t r e v e n u e ?
- I s s h e c o m p e n s a t e d f a i r l y f o r h e r e f f o r t s ?
- I s h e p r o v i d i n g h i d d e n v a l u e t o o u r c o m p a n y a n d o u r c l i e n t s ?
I d e n t i f y Yo u r O w n Me t r i c s f o r Su c c e s s
An a l y z e & L e v e ra g e Yo u r D a t a
“ W h e r e & H o w c a n w e e x p a n d ? ”
“ W h a t a r e o u r m o s t p r o f i t a b l e & s u c c e s s f u l s e r v i c e s ? ”
“ H o w c a n w e i m p r o v e ? ”
“ W h a t t r o u b l e a r e a s d o w e h a v e ? ”
“ A r e s e r v i c e s p r i c e d p r o p e r l y b a s e d o n t h e v a l u e t h e y p r o v i d e t o o u r c l i e n t s ? ”
An a l y z e & L e v e ra g e Yo u r D a t a
“ B i g D a t a ” C o n c e p t s i n m a n a g e a b l e c h u n k s
An a l y z e & L e v e ra g e Yo u r D a t a
“ B i g D a t a ” C o n c e p t s i n m a n a g e a b l e c h u n k s
A l l w i t h o u t t h e u s e o f T i m e s h e e t s .
0%
125,000,000%
250,000,000%
375,000,000%
500,000,000%
2009 2010 2011 2012 2013 *
E x a m p l e s C l o s e t o Ho m e
I n 2 0 1 0 , P u r p l e , R o c k , S c i s s o r s m a d e a d e c i s i o n t o t h r o w o u t t i m e s h e e t s , f o c u s i n g o u r e f f o r t s o n P r o d u c t i v i t y a n d V a l u e f o r o u r c l i e n t s .
B y t h e e n d o f 2 0 1 2 , w e b e g a n u s i n g t h e T i m e o v e r M o n e y c o n c e p t t o t r a c k , m a n a g e a n d a n a l y z e t h e u s a g e o f o u r r e s o u r c e s .
B y t h e e n d o f 2 0 1 3 , w e a r e o n t r a c k t o m o r e t h a n q u a d r u p l e o u r g r o s s s e r v i c e r e v e n u e c o m p a r e d t o 2 0 0 9 .
F i g 1 . P R P L’s G r o s s R e v e n u e
F i n a n c i a l s d o n o t i n c l u d e m e d i a b u y / a d s p e n d . J u s t w h a t m a t t e r s : g r o s s s e r v i c e r e v e n u e .
D o n’ t Wo r r y Ab o u t Ti m e .
Wra p p i n g I t UpA t b e s t , t i m e t r a c k i n g c a n u n d e r - v a l u e y o u r p r o d u c t i v i t y .
A t i t ’ s w o r s t , t r a c k i n g t i m e e n c o u r a g e s d a m a g i n g a n d p e r v e r s e i n c e n t i v e s ( W a l l y s ) .
P e a k P e r f o r m a n c e : F o c u s o n w h a t m a t t e r s . R e s u l t s , D e a d l i n e s a n d Va l u e .
E x p l o r e w a y s t o m e a s u r e & o p t i m i z e y o u r p e r f o r m a n c e .
In C l o s i n g
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