Track and analyze your time Most mediators keep track of the time they bill on specific projects. But I would be willing to bet that most mediators have no idea how those billed hours relate to their billable, non-billed, and total hours. The relationships among the various components of your time are the data that makes it possible to evaluate financial performance. To illustrate the basics of time analysis I have attached a sample time sheet and report. I prefer to record activities in increments of fifteen minutes, although other intervals may be used.
M represents marketing activities.
J1 is the code for the Jones project. With the information recorded you can add up and record the time for each activity and analyze it. Totals and percentages as compared to prior periods. Projected monthly or annual income. This method works best if your collections are predictable and timely.