How To Stay On Top of Your Work – an Interview With TimeCamp’s CEO, Kamil Rudnicki
In one of our latest articles, we presented top 83 project management influencers of 2017. Today, on the behalf of the entire TimeCamp’s team, we proudly present an introduction to the series of podcasts Stay On Top of Your Work. Make sure to follow our latest publications to always get updates on new interviews.
Get inspired, learn, and discover new things while listening to our guests’ interesting observations.
Kamil Rudnicki, TimeCamp’s CEO was the first to open the series. Find out what happens at TimeCamp, what inspires Kamil, what are his main objectives at work, and how he handles managing the company!
Are you an iTunes user? Listen to the podcast here!
Kate: My name’s Kate and I’m a Marketing Assistant at TimeCamp. On the behalf of the entire team, I am extremely happy to present you with the series of our new podcasts “Stay On Top Of Your Work.” Today we are going to talk to TimeCamp’s CEO, Kamil Rudnicki. Hi Kamil, how are you?
Kamil: Hello. I’m good, thanks, and you?
Kate: I’m okay, thank you! Kamil, you manage work at TimeCamp, which basically is a software dedicated to freelancers or larger companies. It is a time tracking software which measures employees’ work hours, shows their productivity, and helps to manage tasks and projects – it makes work smooth and efficient. Currently, it is used in over 75 countries, and every year the company grows. But there also appear problems with the work of the entire team. I would like to know what is your perfect vision of a team management at TimeCamp and how do you see it?
Kamil: Sure. In 2017 we doubled our team. And every time the team grows, a company has to change. Processes that work in a smaller company, don’t work in a bigger one. And this is a constant evolution. We constantly learn how to do this the best way. Before 2017, everything was very ad hoc and we didn’t have any process or managers, like people responsible for one particular set of tasks. This changed. Now we have about 30 people working on the team. With so many people we can work on more projects than before.
The growing number of projects that we have made us make a new way of managing our company and the new things are departments with people who are responsible for them, we started using, e.g.: MBO management by objectives which is really similar to OCR objectives key results and this technique is very simple. Every manager has goals for each quarter and the goals are smart. We can track them, see the progress, they have a due date, and they’re not too broad or too specific. So the department has flexibility to work on things how they think is the best to achieve the goal that we agreed and every quarter I talk to every manager about their previous goals from the previous quarter and we agree on the goals for the next quarter. Of course, these goals must be aligned with the company’s goal, which for now, for example, is to increase the retention rate across the user base and different personas in TimeCamp.
I can also tell you what departments we have at the company and which are missing. We have product department for TimeCamp 2.0 which is currently used by our clients. We are creating a new version of TC completely from scratch which is TC3 and it will be available soon and we have a completely different team for this. Next department we have is marketing, then we have outbound sales department for the native market in Poland. Another subproduct similar to TC, RemoteCamp – we also have a different department for this. We have dev ops, sysops departments to manage the infrastructure, administration.
Kate: So basically, it’s all about people. And all the changes that you made in the departments were considered with the appropriate changes in the team and managing people. You also mentioned TimeCamp 2.0 and TimeCamp 3.0. So TimeCamp 3.0 is a new version of the already existing product. And this is going to be a huge change for you and the entire company. Can you say something more about it? What are the plans, objectives, and how do you want it to stand out from competitors and how do you want it to look like?
Kamil: Yes, sure. So, we have the goal to replace TC2 with TimeCamp 3 and the pan is that we will slowly improve tc3, add new features. And we’re using the minimum viable product, so we don’t want to make everything perfect without beta users or talking to the customers. So we want to test our product often with as many people as possible and offer it only when we have at least the same conversion as in TC2 which is about 2.5% from free trial to paid customer. When we achieve this conversion, then we will replace TC2 with TimeCamp 3. We also want to go into a very similar market that we’re targeting right now, which is task management and project management market. Right now, TimeCamp is using mainly, and I think only, time tracking tool and a lot of our customers are asking us if they can, for example, manage their tasks. Even if this will be very simple feature to manage tasks, set due dates, make tasks completed, we want to go into this market and I think we can have success here because the benefit of giving our users also task management software will be that they will have time tracking and task management in one tool. Which will be convenient and will have some great things like, better reporting and dashboard, better estimates. We’ll see how it works but I hope that this will be a very big move for our company.
Kate: I’m sure it’s going be and I honestly can’t wait to see how it’s all going to work out! That means probably a lot of new customers and I am sure it will be just great! So tell me, where do you get your inspirations from? What do you get inspired by to implement the changes?
Kamil: There is so much information on the internet and it’s overcrowded but I have about 10 mentors online that have good blogs, this is the first source of inspiration. In today’s world, we have to trust the sources we read, e.g.: if they have true knowledge of what they’re writing about. So for example, I have entrepreneurs who I want to be like in the future. You know, they were like me and I want to learn from them how to manage time to go to the next level. The second source are books. There are a lot of great books. For example, I recently I really liked a book on how to manage humans. It’s called “Managing Humans” and this is like I can read it like a story and it is very insightful. I also love book “Principles” by Ray Dalio, who is a great investor, and he wrote every principle that he and his business is using to make decisions. And this is a very good read because it’s true and it’s working. And the third that is very important to have inspiration and knowledge is to have good time, e.g., at night I can put a good music that’s motivating me and then I get a paper, think and write, and get the ideas from my head and connect things. And this helps me analyze what I’ve learned, the experiences I had and so we have to think about what happened in our lives and I think that too little people are putting their time in hard thinking.
Kate: Okay, that sounds great! And I think I got inspired by you too so I’m gonna use some of your tips in my own work. So let’s go back t the business and entire company. I’d like to ask you, what indicators, figures, or maybe indexes are important in business to you and what are you guided by? What do you pay particular attention to when you think about developing your product?
Kamil: In our business, SAAS business, there are some KPIs like retention rate – we have to know how many users use our product again and again and again. And this is very important. We have to always track this and improve this metric.
The second one is Net Promoter Score which is a simple question: how likely would you recommend TimeCamp to a friend or a colleague and we ask our customer this every quarter. This is metric about satisfaction and referrals. When someone tells us that it is highly possible that he will recommend, then it is also possible that it will be an honest recommendation. It is said that the best source of customers are referrals so it’s something we’re trying to measure and improve.
We have, of course, monthly recurring revenue, but I think this is vanity metrics. Something that is the final thing of the other things we make. This is not good to measure your business based on it but we have t measure the things that make the revenue. So how our customers are happy. This is something we have just started measuring but based the customer satisfaction and success (how successful they are working with us) we can get a solid base on how to measure and improve it. This is an important topic for our company – how to make our customer successful?
Kate: That sounds really great! I’m hoping that everything will be great! I would like to go back to RemoteCamp. Can you say something more about it? What is it and what is it used for?
Kamil: RemoteCamp is a tool for remote employees. As you know, in today’s world there are always more and more people working remotely. And we have more tools that enable us to work remotely efficiently. RemoteCamp is one of these tools that help to make remote work possible. It allows people to measure working hours, so for example, I pay someone who works remotely for hours, then I can use RC to track these hours and I’m sure that he’s working. So this gives me peace of mind that someone is working and everything is okay.
Kate: So last but not least, TimeCamp’s brand is how to stay on top of your work. Could you just in one sentence elaborate on that and explain how you understand it?
Kamil: I will give you the example from our company. We have people. More people than before of course. There’s a moment when I don’t know what a person is doing. And I can go and ask this person, “what are you doing?” every day, and we want to make TimeCamp space where you don’t have to ask this question. So everything you will see in TC at one glance, you will be able to manage. You’ll be able to delegate the task and see the progress. So, for example, if someone should have worked on a task today but he didn’t do anything, then I can easily pick him and ask why so he can give me an answer. So the conversation is going and I have everything in one place.