As a first step, benchmarking will show you where there are gaps in your performance. It will help you to identify and focus on your weaknesses. Having this information is vital in making you and your business as successful as it can possibly be.
Some people initially say it is not worth comparing themselves to others because “my business is different”. But that argument completely misses the point. The reason it IS worth comparing is precisely BECAUSE your business is different.
After all, one business gets better results than another BECAUSE it has different products, different prices, different customers, different suppliers, different productivity, different marketing or something else that makes it different and therefore better.
By comparing yourself to businesses in your sector that do things differently, you can see whether your results could be better if you did things differently too.
By helping you to learn what is possible from others in your sector, it also makes it easier for you to work out what to do to improve your business and your results. All it needs is for us to look at the results together with an open mind.
