Administration is tracking results. It is also internal office systems that include financial, accounting, legal, insurance, and those types of things.
Do you know what your cost of doing business is? Do you know what your marketing efforts are producing? Do you know what your sales closing rates are? Do you know what your production rates are? Do you have a budget for the next 12 months? Do you have the right insurance and legal protection?
I think I just felt you become overwhelmed with all the “work” you have to do. Let me pause for a moment and take you back to Chapter 1: The One and Only Reason Your Business Exists…to Be a Vehicle to Help You Achieve Your LIFE Goals.
If you want to build a predictable, profitable, turnkey vehicle that will take you where you want to go in life, it will be a lot of work to build it. But it will be worth it.
Can you imagine a 747 flying across the ocean without knowing stats? Without knowing what the fuel level is? Yet, this is what small businesses do every day. They guess. They don’t track. This is one of the most important parts of your business.
If you don’t make money, your business isn’t working! A business without a profit is just a hobby! And the only way you know whether you are making a profit is to track.
Tracking helps you make more while working less.
Read that sentence again. Tracking will help you work less and make more. Why? Because when you get in touch with your actual numbers (pre- pare to be surprised), it will cause you to stop running harder on the hamster wheel and take action on the things that actually matter.
You will not only get an education on this subject in this book, but you’ll also learn a phenomenal administration system.