Mike: Mike with Standard Time® back with Ray White of Scoutwest. As consultants we all know that we sell blocks of time to clients. Ray, how easy is that to do in Standard Time?
Ray: It turns out its pretty easy. You simply set up what we call a project task. Those tasks have a set duration in hours and those hours represent the amount of time that you’re selling to the client. What you’re essentially doing is selling a contract which represents a number of hours that you plan to perform services for the client. These contracts end up being beneficial both to the consultant and to the client. The consultant gets guaranteed revenue for a certain number of hours. The client gets services; they can call you next week, next month, every day. When those hours are burned through that contract is finished and you start another one. What you do is set up a project task. Those tasks have the hours that you’ve agreed to and as the consultants are logging time to that task then eventually that task will complete. Then you can go back and sell more hours to the client. You may have dozens of these in a consulting firm, lots of consultants working on different tasks and so you need to know how much time is agreed upon; what the purchase order is and all that for each one of these blocks of time.
In a previous video we talked about task warnings, I’m assuming this would work perfectly with what we are talking about.
Yes, actually I’m glad you brought that up. Task warnings are a way of Standard Time to alert you when you’ve reached or nearing the completion of a task. Let’s say you’ve agreed to a certain number of hours, 50-100 hours. You can set the percent in which this warning comes up, let’s say I set it at 75% and I’ve logged a certain number of hours and up pops a warning that says you’re near completion of this task. That’s the time you go out and sell the next block of time. Get the purchase order for the next one get it ready, you may have some time left on this one but you want to get the next one ready to go. Yes, task warnings are a perfect way to line those blocks of time up.
How can people try Standard Time out?
They can go out to our website stdtime.com. You’ll be able to download all the additions there windows, web, the smartphone additions. And all those will allow you to track time toward these blocks of time. You’ll know exactly how much time you’ve burned on each one of these contracts.
Stdtime.com go download your free version today. Let us know what you think!
Watch the video: https://www.youtube.com/watch?v=cPkLIV93vPo