4 Easy Steps to Benchmarking

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Benchmarking is using the best companies as a success marker for your company. However, you can apply benchmarking to your life and career. Also benchmarking doesn’t have to be hard. Here are 4 easy steps to benchmarking.



  1. Identify which processes to benchmark

Focus on ONE thing! I have to start out with that sage wisdom because oftentimes people try changing everything. Stop! Don’t do that because it creates even more mess! The last thing that you need is more confusion and overwhelm.

Identify one thing. It doesn’t matter if it is a big thing or a small thing. Here with benchmarking, just focus on one thing that you want to change because you will start seeing the change.

  1. Organize the benchmarking effort

Organizing your benchmarking effort is important. You cannot measure what you can’t manage. In this step, organization will help you see and measure how the change is unfolding. You get to see it in real time and be able to measure it. This organization step is key especially if you dislike the change or the speed of the change that’s occurring. You will be able to identify what is going wrong or lacking and correct it.


  1. Prioritize the ideas the team finds and turn them into projects with timelines for adopting the best practices.


See #1. That’s why I’ve said to focus on one thing. When you are new, you think that you can apply benchmarking anywhere and everywhere (You aren’t the only one who get overly excited about doing new things. It happens to everyone!).

With prioritization of the one thing, now it is time at add some timelines. Remember, a dream without a deadline is simply a wish


  1. Implement and begin to realize the benefits

Put your new benchmarking plan into action. As soon as you start seeing results, start tracking and correcting it. If there’s something that you dislike, stop doing that. If there’s something that you like, keep doing it. Benchmarking is a static, one and done thing. Benchmarking is continuous.


These 4 easy steps will help you create and implement the benchmarking plan to get to the next level.

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Source: http://multichannelmerchant.com/operations/four-steps-to-internal-benchmarking-2/#_


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