Just to prove that the US is just as Stone Age in its thinking as most practices in Blighty, this from Rita Keller, reporting on Bob Gallagher:
Did I capture time regarding clients’ email?
___ Did I capture cell phone time regarding client conversations?
___ Did I capture time regarding two-minute conversations with staff on client matters?
___ Did I capture office telephone time on client matters, especially two to five minute conversations?
___ Did I capture “intellectual problem solving time” on client matters occurring outside the office?
Note: Today all client time is not being recorded which is adversely affecting utilization and profitability. It is very important to capture all client time and then decide what time can be billed.
Note the important piece here: ‘Decide what time can be billed.’ To me that sounds like ‘How much can I get away with?’ Can you imagine what clients would think if they knew this is the kind of thinking that informs the billing practices of 90%+ of practitioners?
When will professionals learn that if they are to truly thrive – and by definition so will their clients – there is no way you can adopt billing methods so divorced from delivering value? As I said on Rita’s blog:
I fundamentally disagree with time as the unit of value delivered to clients. It’s (billing) nothing to do with time and everything to do with value so I see this is reinforcing a bankrupt model.
That isn’t a matter of opinion but a recognition that there are far better business models representing a win-win rather than the perpetuating of out-dated practices. Feel free to disagree but be prepared to offer some ‘hit me over the head’ reasons why I’m wrong.
Technorati Tags: business models, client relationships, time recording
