Want to Maximize Profit? Track Your ‘Billable Time’

Kennith Bogan

How substantially time do you devote on pursuits that make revenue? How substantially on assistance get the job done? Monitoring “billable time” can make it less difficult to set priorities.

NEW YORK – Each and every 30 minutes, take note what you’re doing for at least a couple of days. At the stop of every day, make a take note subsequent to every time slot or exercise in your log, and mark it as “income-producing” (IP), “income-servicing” (IS) or “stuff” (S).

Money-making refers to pursuits with a crystal clear monetary consequence, this kind of as prospecting, direct follow-up, shows to purchasers and sellers, negotiating and closing specials.

Money servicing must be carried out, but it does not create revenue specifically, this kind of as inspections, next up on specials and challenges in the pipeline, this kind of as marketing and prepping for appointments.

“Stuff” refers to the miscellaneous items you do in the course of the day that have no successful worth, some of which can most likely be eradicated.

The aim of pinpointing styles of pursuits really should be to devote at least 50% of your time expended on earnings-making pursuits. Just logging time can enable several brokers turn into extra informed of how properly they’re controlling time in the course of their day.

Resource: RISMedia (09/16/twenty) De Grote, Debbie

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