Over the past 20 years much time, money, and effort has been spent on the concept of benchmarking. While this has provided insight to how other companies, as well as your competition may be performing, many of us have viewed benchmarking as a destination rather than a step in the process of achieving greatness.
We have been lead to believe that if we achieve what others have already accomplished that we are somehow surpassing expectations. Benchmarking should be viewed as the journey to greatness not the ultimate destination. Understanding the steps or metrics your competition has achieved will undoubtedly provide you the bricks to build your road to success. Unfortunately the last stop on this journey will place you in the category of “just as good as your competition”. This is not a long term recipe for success.
Many companies utilize benchmarking to build the road. The successful companies understand that once the road is completed YOU must define the ultimate destination. What will make our products and those companies that see the value in benchmarking as a tool to “build the road” and learn from others achievements. Then use that knowledge to surpass the competition, not accept it as a destination.
Please don’t get me wrong, benchmarking can add tremendous value to you and your organization. Just make sure you understand the benchmarking process and the benefits it can provide. At PixelPredicitve we can help you identify opportunities, compare your results to those of your competition, insight into Industry trends, and other information that will help you in making key business decisions.
Dale Noel, Managing Partner PixelPredictive Streamlining & Development LLC