Want to Maximize Profit? Track Your ‘Billable Time’

How substantially time do you devote on pursuits that make dollars? How substantially on guidance get the job done? Tracking “billable time” will make it less difficult to set priorities.

NEW YORK – Each and every thirty minutes, take note what you are performing for at minimum a couple times. At the conclude of just about every working day, make a take note up coming to just about every time slot or exercise in your log, and mark it as “income-producing” (IP), “income-servicing” (IS) or “stuff” (S).

Profits-creating refers to pursuits with a obvious financial end result, these as prospecting, direct adhere to-up, displays to consumers and sellers, negotiating and closing offers.

Profits servicing have to be performed, but it does not produce gain immediately, these as inspections, subsequent up on offers and troubles in the pipeline, these as advertising and prepping for appointments.

“Stuff” refers to the miscellaneous factors you do all through the working day that have no effective value, some of which can most possible be removed.

The purpose of identifying sorts of pursuits really should be to devote at minimum fifty% of your time put in on cash flow-creating pursuits. Simply logging time can aid quite a few agents turn into far more knowledgeable of how properly they’re taking care of time all through their working day.

Resource: RISMedia (09/sixteen/20) De Grote, Debbie

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