Understanding Performance Benchmarking
In performance benchmarking you will meet with like industries
Upon being accepted into a performance benchmarking group, you will meet with them to brainstorm by first providing facts and figures about your own business. This group will consist of your peers, namely same industry businesses as yours but from different markets. Together you will rate the very best practices derived from this benchmarking and set the highest standard. Those who are not quite at that standard will put what they have learned to work and then report back in the next meeting how it went.
In business mentoring programs the purpose is to help you to achieve your personal best and the best of your employees by the measurements set forth in the benchmarking sessions over the past months. With your new endeavor of participating in business benchmarking and receiving peer mentoring, you are in effect doing the same for others, peer mentoring as you grow and become more experienced yourself. What a great concept! Contact us today and find out why Mr. Mission Impossible, Ron Sturgeon is heralded as the leader in performance benchmarking.
Now that you are beginning to understand let’s focus on the ceo roundtable
Picture yourself sitting at a ceo roundtable with every business owner in your industry from multiple states. They are no threat to your business because they are not in your market. Now you are thinking, wow, wonder what each of those owners realizes in profit each month. Then your wheels start to spin. You begin thinking of how they might run their operations on a given day and what slows them down or the opposite. Bingo! Now you are picturing benchmarking for business by virtue of business peer mentoring! This is what we define as performance benchmarking with added twists!
At this very ceo roundtable surrounded by your new benchmarking group, these are the very questions you will get answered and they will drill you about your business in like manner! Now that is a dream every business owner has. With business peer benchmarking review groups, you have the added benefit of experts who will take all of the data that is derived from these ceo roundtable discussions and review them to determine, based on their years of experience if additional information can be injected into the next discussion that will be a value added for these businesses.
Take a look at Mr. Mission Impossible’s auto salvage benchmarking group
Mr. Mission Impossible’s auto salvage benchmarking group began many years ago and today this is one of the most lucrative businesses in the U.S. It all started with his famous business roundtable, his entrepreneur mentoring programs and to this day is the single most productive tool known in the marketplace to grow this type of business. It is no different with your industry or any other. We all need the help of each other and measurements like those provided in performance benchmarking.
Even the insurance industry benchmarking groups, are enjoying enormous success with this little known business strategy. But it is gaining in popularity as the news of its success is spreading like wildfire. You can already see how a peer benchmarking group can enhance your business success. I’ll bet you are even thinking about how you can be instrumental in helping others to start their own ceo roundtables with performance benchmarking as their number one goal to escalate their success. Contact us now to learn how to get started!
Shovel instead of a spoonI coined this saying once when I was aggravated with my sales staff. My sales commission structure had allowed many of them to become complacent, and compensation had grown faster than sales. Knowing the solution would be painful either way, I had to decide whether to make a clean sweep all at once or try to dish out the needed correctives in small increments. Always give careful consideration before deciding to use a shovel instead of a spoon. I had been tweaking the plan, but there was constant tension and it finally seemed like it was time to use the shovel. I discarded the old plan and installed the new one in one swift move. The high tension lingered for a while, but a few weeks later, everyone had settled in, sales exploded and soon the changes were producing favorable results. The months I had spent using that spoon were wasted.
Shovel instead of a spoon
an illustration by Gahan Wilson from Ron's Book "Green Weenies and Due Diligence"
