Growth, Scaling and Timesheets
Published: 06/08/2023
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This article discusses how timesheets serve as a link between sustainable, gradual growth and business scaling. We will examine why rushing them is unwise and how automating small tasks along the way can be advantageous in the long term.
If you ask the owner of a startup what their biggest goal is, more often than not you'll hear they aim to grow and scale quickly. Sure, these goals may look different for each, and not many companies will reveal their KPIs, but it’s the aspect of ‘fast’ that we want to discuss. While there is a lot of pressure to grow rapidly to stay competitive, we believe that’s not the right approach. In fact, it often causes more issues in the long run.
Of course, growth and scalability are goals that companies should strive for, but they must not be rushed. In simple terms, when it happens too quickly, there are numerous negative consequences to bear, which we will discuss in this article. We will also share tips on how to manage the process, the benefits it offers, and how it can help you surpass the competition in the long run.
As the name might suggest, it will heavily rely on the use of timesheets. But don’t be fooled - it’s not all about tracking time and monitoring productivity. In reality, our main focus is on automation. Specifically, what your priorities should be and how digital timesheets serve as an excellent foundation to initiate the digital transformation within your organisation. The key is simple - start small and expand over time. If this has sparked your interest, we invite you to continue reading…
Although growth and scaling are often seen as closely linked, you might wonder where timesheets fit in. The reality is that a dependable timesheet tool acts as a catalyst for both. Relying on them without extra support will lead to a dead end.
One common issue faced by rapidly scaling companies is that their progress quickly becomes overwhelming. Simply maintaining their current level of service becomes a challenge, making it difficult to take on more clients or projects. As a result, the company’s growth also stalls.
Typically, the solution is to expand the team, but it comes with many issues. Firstly, new staff will need a training period before they can fully assume their responsibilities. It’s also not ideal financially — you won’t be able to scale further until they are ready, which means investing without expecting a quick return. Depending on your luck or rather lack of it, there might sometimes be no ROI and instead, additional losses.
Even if you hit the jackpot and your new hires secure a couple of substantial projects or clients, it’s only a matter of time before you encounter the same obstacles again. In other words, this is not a sustainable or permanent solution. Introducing automation, even something simple like a timesheet system, will be more efficient and definitely more sustainable than the endless cycle of hiring new staff. Let’s discuss why this approach is better.
Most companies halt growth and scaling because they cannot onboard more clients or take on additional projects. Moreover, they often exhaust their staff too, leading to poorer results and decreased morale. When you use timesheet software, however, these issues can be addressed.
Most companies, especially in the startup environment, feel pressured to scale quickly. The idea of rapidly acquiring many clients is praised and romanticised as a sign of success, but we disagree. In fact, fast scaling can be harmful to your business in the long term. When you first start out, you should focus on the quality of the services you provide, not the number of clients. It’s more important to establish yourself as a business that delivers bespoke projects rather than one that spreads itself too thin across many clients.
We’ve already debunked the issue that arises from scaling too quickly. So, with that and the above mentioned, it’s safe to conclude that the best approach is to scale in a controlled manner. Focus on the quality of services, optimise automation to free up your time, and scale at your own pace instead of chasing standards set by someone else. When you put your customer first, your business will grow and scale naturally. Don’t burn yourself out by onboarding more clients if that’s going to affect your performance. Instead, find a solution to improve your process through automation so your quality doesn’t suffer even as you take on new projects.
No matter how talented and amazing your team is individually, it sometimes still won't be enough for a project. Don’t misunderstand us – it’s not an issue with your team. Different projects require different skill sets, timeframes, approaches, and other factors. That said, a team that has successfully delivered various projects might not be suitable for your new one. This is why we recommend building teams tailored to each project instead of expecting the same group of people to deliver the same results all the time.
We might have lost you here - does this mean you need to hire new workers for each project and possibly lay them off afterwards? Yes and no. What we are suggesting is that you should consider working with contractors, especially when there is a skills gap in your team for a specific project. This way, you’ll be bringing in one or more workers who are essential for completing the project without having to employ them permanently. If you’re happy with their performance, you'll probably contact them again if their help is required. It’s a win-win situation, as it’s a short-term, mutually beneficial arrangement you can revisit at any time.
Most of the time, companies prioritise profitable projects to generate revenue. As a rule, those considered ‘fun’ rarely bring in enough money to be considered viable. Moreover, when all your time is spent on the major projects, there's simply no room for those your team might find exciting. It’s rather disheartening to think of it this way, but most people accept it as the inevitable reality of work. However, here’s a plot twist: it doesn’t have to be like this. You can and should boost your team’s morale by introducing more enjoyable projects without sacrificing the quality of revenue-generating ones.
As we keep emphasising, automation saves time. How you choose to utilise the time you’ve reclaimed, however, is entirely up to you. You might dedicate it to building stronger relationships with clients, engaging in team-building activities, or perhaps taking on another project, but the one your team will genuinely enjoy delivering. We believe it’s a great way to use your time, as reminding your staff of why they love their work can prevent burnout. Not to mention, it still generates revenue and sharpens your teams’ skills.
Let’s face it - we all dislike admin work, even though we know it’s necessary. It’s usually small, so it’s seen as just a nuisance. However, the devil is in the details, and those minor, irritating tasks can quickly cause problems. But don’t worry - automating them is both simple and highly effective.
Manual invoicing is not only highly inefficient over the long term but also poses certain risks to your business. Naturally, the process remains essential, especially for companies providing services and goods to other businesses. In fact, raising manual invoices has been the standard practice for decades, if not centuries. So, you might be wondering: ‘Why try to fix something that isn’t broken?’ See, just because something isn’t broken doesn’t mean it isn’t outdated. And manual invoicing definitely is. Firstly, in today’s fast-paced environment, every minute counts. Yes, even the one minute it takes you to raise an invoice. And what if you have 50 invoices to deliver? That’s an hour which could be better spent developing your business.
Aside from wasting your time, manually raising invoices is also a breeding ground for mistakes. Typos happen, everyone gets lost in their thoughts now and then, data is entered into the wrong fields, and so on - we understand. However, when it comes to money and services, it’s easy to forget that there are humans on both sides, so human error is inevitable. Unless no humans are involved in the process. Automating the invoicing process ensures that the data is pulled directly from the system used to record it. If neither process involves a person entering the numbers, mistakes can only occur if the setup or workflow is wrong. In other words, if you don’t want to pay the price in reputation and client relationships for your mistakes – automate!
Continuing with the topic of scaling, it is often only viewed as having more clients. In reality, however, it also involves handling more projects, even if they all come from the same client. But here’s the key difference - it’s easier to manage multiple projects than to constantly impress different clients while being overwhelmed by deadlines and expectations. The good news is, you don’t have to be under pressure all the time. Automation allows you to take on additional projects and switch between them without extra effort. The fact is, each project has many moving parts, and almost all of them can be fully or partially automated. Yet, smaller tasks are often overlooked as not worth automating due to their perceived insignificance.
Now, that’s exactly where most companies shoot themselves in the foot. It is precisely those small operations you should automate first. They are often the biggest offenders when it comes to huge time losses that no one seems able to backtrack. There are a few reasons why you should focus on them. First of all, they are relatively easy to automate as they often only involve a couple of steps. Secondly, they constitute the majority of processes - when you automate a large portion of these simple tasks, you end up accomplishing a lot without realising it. And as we’ve already emphasised – it saves a lot of time you can use for better things than, for example, keying data in.
Finally, we understand the difficulties of onboarding a client. From comprehending their needs to setting up a communication platform, collecting all necessary documentation, and processing payments, there is a significant amount of work involved in starting to work with someone. Sadly, from both legal and transparency perspectives, as well as ensuring everything runs smoothly in the future, this is a process you cannot skip. As unpleasant as it may be. However, what you can do is make it more seamless and easier. By that, as you have probably guessed, we mean automating it. Not only does this speed up the process, but it also helps you stay more organised.
First of all, you can forget about the paperwork and endless email exchanges, both of which often cause files to get lost. By using an onboarding platform, you specify what documentation is needed from the client. From there, it becomes a hands-off process where they simply upload the required documents. These are then stored in a centralised location, ready for you to access at any time. This is extremely useful for audits or when you need to verify details. Secondly, it can also serve as a platform for sharing files as the project progresses. This provides transparency, better control over client communication, and quicker resolution of any issues that might arise.
Digital timesheets are not the only tool you'll need to elevate your business, but they are a great starting point. The reason is that even a solution with basic functionality offers a wealth of automation options you can integrate across various processes. Moreover, they serve as a valuable source of data, which is essential for ongoing optimisation and maximising performance. Additionally, they are typically very simple to combine with other digital solutions.
Digital transformation is not a one-off task but an ongoing process. It involves not only implementing digitisation and automation but also continuously analysing and refining efficiency. To explain it simply, when you automate, the process begins collecting and analysing data. Based on this data, you can identify gaps and opportunities in your strategy. Once you have addressed these issues and made adjustments, the cycle repeats. Since online timesheets are heavily focused on data collection and repurposing across various business operations, this solution alone can provide many actionable insights that could become the foundation for further business improvements.
While growth and scaling are two concepts often considered together, few recognise timesheets as the link and driving force between them. Most businesses usually prioritise rapid growth and scaling, but this is not the best approach. Ultimately, they reach a limit as they cannot manage the volumes. Expanding the team provides a temporary fix, while the right software, especially timesheets, offers a more sustainable, long-term solution that promotes steady improvements.
Most timesheet software doesn’t just track time but also enables you to automate various tasks based on the data it gathers. For example, client invoicing. The main advantage of automating small tasks is that they often occur in large volumes and, despite being simple, can consume a lot of time. By reclaiming this time, you can focus on more important matters such as nurturing client relationships or boosting the team’s morale by taking on more enjoyable projects.
Digitisation is the way forward for modern businesses. It’s not just another item to tick off your to-do list but an ongoing process centred on data collection, analysis, and optimisation. The cycle is continuous, leading to constant improvements and gradual, sustainable growth. Most timesheet solutions offer various modules to support your journey. After all, you know best what your business needs.
Timesheet Portal offers plenty for businesses in every sector. And we invite you to explore it.