Do You Benchmark?

Do you benchmark your performance against your competitors?

Though you might respond with a 'No', the answer is almost certainly 'Yes' ... but, like many others, you might benchmark informally ... 'keeping an eye on' their prices, opening hours, stock availability, product choice, or whatever it is that might differentiate them from you.

So, have you ever thought about more formal benchmarking ... joining a benchmark club where you get 'real' data on KPIs that apply to you and the rest of your sector. Almost certainly there will be such a 'club' - ask your trade association as a starting point.

Knowing what you are up against is the first step in winning!