Mythbusting "Timesheets Are Only for Large Teams"

Posted 16 May

Mythbusting "Timesheets Are Only for Large Teams"

Timesheets aren’t just for large teams drowning in bureaucracy. Even if you’re a one-person business, tracking your time can be the key to working smarter, not harder.

Your Time Is Your Most Valuable Asset

When you’re a solo operator, every hour counts. You don’t have the luxury of hiding inefficiencies behind a team. Whether you're a freelancer, consultant, or business owner, tracking your time helps you see where it actually goes. Time tracking helps you see the reality—maybe admin work, social media scrolling, or impromptu snack breaks are eating into your productivity.

Know Your True Hourly Rate

If you’re not tracking time, you might be undercharging. Let’s say you charge $1,000 for a project. Sounds great, right? But if it actually takes you 25 hours to complete, suddenly you’re earning $40 per hour—far less than you expected. By logging your time, you can get a realistic picture of how long different tasks take, allowing you to price your services accordingly. It also helps you spot patterns: maybe some clients or projects consistently take more time than expected, meaning it’s time to adjust your rates or your workflow.

Better Project Estimates = Happier Clients

Nothing erodes trust like consistently underestimating project timelines. If you track your time, you’ll build a database of past work durations, making it easier to give accurate estimates. Clients love realistic deadlines, and you’ll love avoiding last-minute crunches.

Spot the Productivity Black Holes

Think of time tracking as a personal audit. Where are the inefficiencies? Maybe you spend an hour on emails every morning when 30 minutes would suffice. Maybe you get caught in an endless loop of revisions for that one overly demanding client. With data in hand, you can make informed changes—perhaps batching emails, setting clearer boundaries, or automating repetitive tasks.

Work-Life Balance Starts with Awareness

Solo business owners often blur the line between work and personal time. You tell yourself you’re working “just a little more,” but suddenly it’s 9 PM, and dinner is a distant memory. By tracking your hours, you can set clear work limits and make sure you’re not overworking—or underworking.

It’s Not Just for Billable Hours

Even if you don’t charge by the hour, tracking time is useful. How much time do you spend on marketing? Networking? Business development? The things that don’t immediately bring in money are still critical, and knowing how much time they take helps you allocate resources wisely.

Future You Will Thank You

If you ever plan to grow your business or hire help, having a clear record of how time is spent will be invaluable. You’ll know what tasks take up most of your day and which ones could be outsourced or streamlined.

WDF Accounting and Advisory | Accountants Wagga | Your partners in business

Providing carefully tailored accounting solutions in business advisory, tax compliance, bookkeeping, Self-Managed Super funds, and more.