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

http://www.prpl.rs

http://www.prpl.rs

http://www.prpl.rs

http://www.prpl.rs

http://www.prpl.rs

http://www.prpl.rs

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 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


b u t w h e r e i s P r o d u c t i v i t y ?



w h e r e i s Va l u e ?


A Better Formula:

MONEY

TIMEOVER

A Better Formula:

MONEY

TIMEOVER

...more on this later

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

http://www.freshbooks.com/blog/2013/06/12/breakingthetimebarrier/


http://breezycreativedesign.com/2010/05/04/citi-logo-by-paula-scher/




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



http://dilbert.com

http://dilbert.com

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



http://www.youtube.com/watch?v=CHxhjDPKfbY










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

OT

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



http://en.wikipedia.org/wiki/Time_management

http://en.wikipedia.org/wiki/Time_management

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



http://dilbert.com/strips/comic/1996-04-26/


http://search.dilbert.com/search?p=R&srid=S3-USESD02&lbc=dilbert&w=timesheet&url=http%3a%2f%2fdilbert.com%2fstrips%2fcomic%2f1995-09-15%2f&rk=3&uid=631535381&sid=2&ts=custom&rsc=I7KjHPpBIcR4EOJx&method=and&isort=date&view=list&filter=type%3acomic


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


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

Facebook

Twitter

Lunch Inspiration

Meetings

Youtube

Television

Dinner

Wikipedia

Meetings

Commute

Morning Afternoon Evening

Emails

Commute

Phone Calls

Strategy Phone Calls

Google

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

Facebook

Twitter

Lunch Inspiration

Meetings

Youtube

Television

Dinner

Wikipedia

Meetings

Commute


Emails

Commute

Phone Calls


Google

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

Facebook

Twitter

Lunch Inspiration

Meetings

Youtube

Television

Dinner

Wikipedia

Meetings

Commute


Emails

Commute

Phone Calls


Google

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 ?



Emails

Blogs

Co!ee

Breakfast

Ideas

Meetings

Facebook

Twitter

Lunch Inspiration

Meetings

Youtube

Television

Dinner

Wikipedia

Meetings

Commute


Emails

Commute

Phone Calls


Google

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 ?



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


S i n c e S e p t e m b e r 1 5 , 1 9 9 5








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:



http://en.wikipedia.org/wiki/Flow_(psychology)

http://en.wikipedia.org/wiki/Flow_(psychology)

http://en.wikipedia.org/wiki/Wikipedia:Pronunciation_respelling_key




“ 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”




T i m e i s I r r e l e v a n t

“ F l o w”




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


Overhead (~20%) . . . . . . . . $28,000


Annual Target . . . . . . . . . . . $201,600



Monthly Target . . . . . . . . . . $16,800

Profit Value . . . . . . . . . . . . . $33,600



OVER

A Better Formula:

A Better Formula:

MONEY

TIME


Overhead (~20%) . . . . . . . . $28,000


Annual Target . . . . . . . . . . . $201,600



Monthly Target . . . . . . . . . . $16,800

Profit Value . . . . . . . . . . . . . $33,600



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.

http://en.wikipedia.org/wiki/Output_(economics)


http://en.wikipedia.org/wiki/Factor_of_production




INPUTOUTPUT

TO







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


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”


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



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



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



Project 1

Project 2

Project 3

Project 4

Project 5

$25,000

$12,000

$35,000

$20,000

$35,000

Unexpected Project Overruns



Project 1

Project 2

Project 3

Project 4

Project 5

$25,000

$12,000

$20,000

$35,000

Project Impact & Ripple E!ect


$35,000


Project 1

Project 2

Project 3

Project 4

Project 5

$25,000

$12,000

$20,000

$35,000

Project Delays, Late Starts


$35,000


Project 1

Project 2

Project 3

Project 4

Project 5

$25,000

$12,000

Actual: $99,500 ($100,800)


$20,000

$35,000

$35,000


Project 1

Project 2

Project 3

Project 4

Project 5

$25,000

$12,000

Actual: $99,500 ($100,800) Up Hill Battle: $102,100


$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 ?


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 ?


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 ? ”


“ 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


“ 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 .

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D o n’ t Wa s t e Yo u r Ti m e By Tra c k i n g I t

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Stop Wasting Time By Tracking It

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