Becoming #1 in your field requires a measurable target. That’s where benchmarking comes in…

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

 

The tangibles are the numbers. That's the 28% of the value of your business, that's based on the numbers. What you do when you benchmark is to find out what are the industry averages in each of the areas of your financial statements and you're going to find out how you compare to everyone else in the industry because it gives you something to shoot for now, it gives you a target, you will know what it takes to become number one in your industry, whether that's your goal or not. You need to know who you're up against, what is the competition and how you can eliminate that competition, you need to understand it first before you can eliminate it. Now you have the intangibles or the people's side. Now you don't benchmark people, you benchmark the positions, you benchmark their jobs. What that means is you create the prototype for each position. So you go back to your discovery organizational chart, and you have your sales and your marketing and your assistants and your secretaries and your accountants and your bookkeepers and your receptionist and you benchmark what is the ideal for that particular position in your business.

 

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.