Time Tracking For Remote Teams – Hubstaff.com
This product is a cross between time-tracking and employee-monitoring software. The owner started the company out of his own pains of not knowing what his remote team members were doing during the day. He could give them assignments and off they would go, but from day to day, he didn’t know if they were off-track, doing nothing, or making huge progress.
- Tracks team members by hours logged into computer
- Takes random screenshots of workers
- Records application usage of workers
- Hourly time tracking / time entry
- Automatic payroll integrates with payment service
Current Revenue: $30K per month and growing
Current Profit: ?
Pricing: Free, $5, and $9 per month per user
Source: https://thefoundation.com/podcast/episode111 – Please go see Dane over at The Foundation, he rocks.
Entrepreneur: Dave Nevogt
- David has years of experience starting with offering a 20-page golfing instruction eBook sold on Clickbank.
- Before his eBook sales, he was an employee trying to escape cubicles.
I see tons of competitors for this business, which is good and bad. It is great that there is so much demand overall and demand for a large variety of features. The customer he is chasing, entrepreneurs who are working with remote employees, is large enough, but could easily be expanded into larger companies with any number remote (or in-house) workers in the long run. Copiers of this idea could find many related niches in time-tracking and/or employee-monitoring.
Will this business live through the next 10 years?
Time tracking is bound to be disrupted more and more by automatic tracking systems in the next 10 years. Sensor and hardware advances will definitely change employee-monitoring as we know it. This is a business that will have to innovate and re-invent itself faster than average, but it is obviously poised to make good money in the short term as is.
What won’t change in the next 10 years about this business?
The need to track remote workers, both for keeping them honest and for understanding what they do, will not go away, regardless of technology advances.