Benchmarking and Best Practices 101

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BENCHMARKING AND BEST PRACTICES 101 What Are They, How Do You Benchmark & 5 Rocking Infographics

description

This presentation will explain what benchmarking and best practices are, how you can identify and use best practices in your business and includes 5 of our favorite best practice infographics.

Transcript of Benchmarking and Best Practices 101

Page 1: Benchmarking and Best Practices 101

BENCHMARKING AND

BEST PRACTICES 101

What Are They, How Do You Benchmark & 5 Rocking Infographics

Page 2: Benchmarking and Best Practices 101

BEST PRACTICE:a proven method, process or technique in a given area that has consistently achieved successful results better than other means.

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TODAY’S SMALL BUSINESS OWNER IS FACED WITH NEW CHALLENGES DAILY AND OFTEN REQUIRES FINDING BUSINESS SOLUTIONS AND IDEAS FROM OTHERS.

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INFORMAL BENCHMARKING PRACTICES

Talking to colleagues and learning from their experiences

Consulting with experts

Networking at conferences, seminars, and internet forums

Publications that share benchmarking information

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BES

T P

RA

CTIC

ES

HELP

BU

SIN

ESS

ES

Identify what works

Avoid losing time and money trying other techniques that might not prove as useful

Avoid a detrimental mistake

Improve performance

Propel the company forward

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1. Identify one process, area of business or service that you want to improve

2. Find one metric with which to measure success

3. Create a list of competitors and other businesses in your industry

4. Compile information for each one on what best practices they have used as well as what has not worked

5. Adapt each best practice to your specific business

6. Evaluate your current situation

7. Implement the process and measure the results.

METHODOLOGY TO STUDY BEST PRACTICES

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BORROWING AND IMPLEMENTING BEST PRACTICES FROM OTHER SUCCESSFUL BUSINESSES AND INDUSTRIES CAN CONSIDERABLY GROW YOUR SMALL BUSINESS. TAKE THE TIME TO LEARN THE FACTORS OF SUCCESS AND YOUR BUSINESS WILL EXCEL.

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