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Benchmarking for Business Growth & Exercise

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In order to figure out where you and your business are going, you need to clearly understand where you are at now, how you got to where you’re at, and why. The first thing we say when someone calls and asks for directions to get to our location is, “Where are you now?”

For most business owners, the successful strategy that allowed them to “win” so far is keeping them from success in the future. Their winning strategy was to work harder and longer to make this business work. You used to be the person that got paid for your results, so working harder or longer had an impact on the results you achieved. And getting more work done directly impacted the bottom line. 

When you were one person on a three or four person team, this worked. But as your business grew to 15, 20 or even 30+ people, your increased efforts had a less direct impact on results. “I will work harder and longer to make this work” isn’t a winning strategy for you anymore. It’s a losing strategy. You can’t work any harder, can you? You can’t work any longer, either! As your business grew, your job changed, but you didn’t. 

Here’s your new reality as a leader:  You don’t get paid for your results. You get paid for the results your team gets.

So, if it’s not working harder or longer, it has to be something else. Here’s the answer: Doing different things when you work! 

This benchmarking exercise will help you identify how your business is going now, and why as well as how did you get where you’re at now. Completing the exercise will define where you want to go. And most importantly, it will define what your job as leader needs to be and get your business where you want it to be.  

To achieve mastery, you must first achieve clarity. This exercise will provide you with this clarity. 

Benchmarking

Where Are You Now?

 

What services does your company provide? __________________________________________________

 

On a scale of 1-10, 10 being the best, how good is your total organization at bringing this service to the market?

NOT SO GOOD 1 2 3 4 5 6 7 8 9 10 EXCELLENT

 

On a scale of 1-10, rate how “in control” you feel about your business.

OUT OF CONTROL 1 2 3 4 5 6 7 8 9 10 TOTALLY IN CONTROL

 

What were your annual sales last year? $_____________________________________________________

 

The year before that? $____________________________________________________________________

 

The year before that?  $ ___________________________________________________________________

 

How long have you been in business? _______________________________________________________

 

What was your net income? (Salary, profit, personal vehicles/expenses, etc.) ______________________

 

How many employees do you have? _________________________________________________________

 

How many hours a week do you work? ______________________________________________________

 

How do you feel about that? _______________________________________________________________

 

Do you feel you are making progress? _______________________________________________________

 

Do you feel stuck? ________________________________________________________________________

 

Do you feel you are living the same year over and over again? ___________________________________

 

Do you avoid the money issues in your business, OR do you think about money all the time? ________________________________________________________________________________________

 

What areas of your business do you feel incompetent in? (marketing, scheduling appointments, sales, production, recruiting, training, accounting, etc.) ________________________________________________________________________________________________________________________________________________________________________________

 

Are you confident in your business model? ___________________________________________________

 

What would you say your employees would say about you? ________________________________________________________________________________________________________________________________________________________________________________

 

What would it be worth to you to feel in control, know how to improve, and make more money? Explain. ________________________________________________________________________________________________________________________________________________________________________________

 

If your business doesn’t change, what will the rest of your life be like? Explain. ________________________________________________________________________________________________________________________________________________________________________________

 

What percentage of the blame for the problems you have is you? ________________________________

 

And what percentage is factors other than you? _______________________________________________

 

How willing are you to step out of your comfort zone and change yourself? ________________________________________________________________________________________________________________________________________________________________________________

 

What would you say are your problems in improving your business? _____________________________

  • Confidence: I know I’m doing the right thing? ________________________________________________
  • Courage to change? ___________________________________________________________________
  • Knowing what to do? __________________________________________________________________

 

What percentage of your staff, would you say, are performing very well at their jobs now? ________________________________________________________________________________________

 

What percentage of your work days would you say are “good days,” compared to days when you feel frustrated, angry, or sad? __________________________________________________________________

 

What do YOU spend your days doing? ________________________________________________________________________________________________________________________________________________________________________________

 

What are you doing that you know you should not be doing yourself? ________________________________________________________________________________________________________________________________________________________________________________

 

What do you hate the most about your business? ________________________________________________________________________________________________________________________________________________________________________________

 

What are you most proud of about your business? ________________________________________________________________________________________________________________________________________________________________________________

 

Least proud of? ________________________________________________________________________________________________________________________________________________________________________________

 

What are five things you know you should be doing but aren’t?

1) __________________________________________________________________________

2) __________________________________________________________________________

3) __________________________________________________________________________

4) __________________________________________________________________________

5) __________________________________________________________________________

 

Do you have a routine in the day or week, or are you all over the place on different days? ________________________________________________________________________________________

 

Are you happy? (Explain a bit)_____________________________________________________________________________________________________________________________________________________________________________

 

Has your business had a positive impact on your family, a negative impact, or mixed? Explain. ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

 

Would your staff say you are a good communicator to them? ________________________________________________________________________________________

 

If you have a personal specialty, one part of your business you are really good at and feel confident doing, what is it?

(Doing the work, selling the work, marketing, accounting, training your team, etc.)

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

 

How much trouble do you have selling against competitors? Explain. ________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________

 

Which one are you:

“I know what to do and how to do it”_________________________________________________________

“I don’t know what to do”__________________________________________________________________

“I know what to do, but I don’t know how to do it”______________________________________________

 

What would it mean to you if you could solve your major problems, and you felt confident as a leader of a well-functioning company in the future? ____________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

 

Why do you want to succeed? ______________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Service Roundtable is dedicated to growing your bottom line and helping your business maximize its full potential. These group of contractors work together to assist you with marketing, sales, business, and so much more. Twice a month, seminars around the United States and Canada are held to network and further assist your business. Visit Service Roundtable.com to see if there are Success Days in your area!

Topics: Building a Business, Plumbing, hvac, Marketing, business culture, learning, knowledge, Management, team building, Leadership, Business Growth, Business Leadership, creative marketing, Branding, Customer Service

Posted by Marc Tannenbaum on Nov 2, 2018 11:25:21 AM

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