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Benchmarking for Business Development   

Too often businesses today spend too much time working within the existing structure of the business and spent too little time working on developing the business. In business development benchmarking can be a useful tool not only in understanding your competition but also in measuring your performance.  By understanding what gives your competition their edge, you will be able to identify the gap between where you are now, and where you want to be.

Benchmarking can help you to bridge the gap between yourself and your competitors, and facilitate the adoption and implementation of the right strategies to improve the way you do business and to increase customer satisfaction (see our flowchart). It can help to give you that edge to grow and prosper.   

When planning your business improvement strategy and benchmarking, it will be important to keep a reality check on your progress. Do this by regular reviews and reports on what you are doing, what you have achieved and what else you need to do.

Benchmarking is an educational process and can be highly motivational for your team.  It allows you and your team to see what others are doing well and can provide you with ideas and new ways to develop and grow your business.

  

 
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