TIME TRACKING DIMINISHING YOUR FIRMS VALUE
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Why did I go into business for myself? That’s a loaded question. I sometimes wonder the many what if’s, like what if I hadn’t been laid off in 1993 and started my own business. As the years have passed, I am now reminded that even though ownership has had many ups and downs it has truly been a blessing both in my business and personal life.
I remember how unrewarding it was working in a large company that never acknowledged workers real values and skills. Sometimes it reminded me of a high school popularity contest, so full of angst and pretentious pride. This never served the company or its customers well. I vowed if ever given the opportunity I would do things differently. I saw ownership as a way of saying, “Hey, people and their ideas are the real assets of the business.” I had hoped if given the opportunity I would do better than my superiors.
I saw business ownership as a way to be my own boss, being in control, controlling my destiny. I also saw it as a way of controlling my time and daily schedule, taking time off to watch my children’s dance, music and sporting events. This would also allow my family to home school and take more vacations. I never really liked someone ruling over me and my fortune 500 experience proved to be a real “Work hard for nothing experience.” I also saw it as a chance to nurture my own ideas and creativity. To spread my wings, guide the ship and see if I could do a better job than others. Doing a better job than others meant unrestricted pay, right? At least I hoped so. Little did I know that ownership came with firm responsibilities that would control me if I didn’t control them? I needed to get a handle on the time it takes to administer my firm.
Automation is the beginning of building a great firm. Today there are so many options for automating. Consider paperless as a first step, better workflow as a second, accurate time controls and tracking and lastly good hardware to support it. Office Tools Professional provides the foundation for administration software for any practice. It combines the most common things every firm does on a daily basis and simplifies them. It reduces the amount of time we spend in non-billable tasks and provides information not just to management but to the firm’s staff empowering them for better decision making. Better decision making that ultimately takes fewer staff and creates better client relations at the same time. Now that’s getting administration under control and saving money at the same time too. This provides real automation that can be measured through management reports and seen in action in the firm.
We have grown now over the years but have kept administration automation as the foundation for our Practice Management Software.