Performance Management

Benchmarking your place in the pack

By Erica Olsen ⋅ March 26, 2007 ⋅  Email this post ⋅  Print this post ⋅ Post a comment

Benchmarks are surveys and assessments that help determine how well your company performs compared to other companies in your industry or business size. Below are just a handful of benchmarking tools available:

BizStats: Visit www.bizstats.com for instant access to useful financial ratios, business statistics, and benchmarks. Biz Stats has effective and understandable analysis of businesses and industries. You can benchmark a business in five seconds for free.

Solution Sage: An online tool for assessing middle market business strategic and succession readiness. The Family Business Assessment is a simple and inexpensive strategic and succession assessment tool available to family business owners and their professional advisors. Visit www.solutionsage.com for more information.

DigitalHatch, Inc.: This company looks at the key areas successful organizations need in order to grow. The activity areas are specifically correlated to profitability so business owners can see the direct link between action and ROI. Industry specific assessments are available. Point your Web browser to www.growthassessment.com.

The Business Report Card: This assessment helps companies pinpoint strengths and weaknesses, capitalize on an existing client base, develop invaluable networks and alliances, and increase profitability. To see if you’re making the grade, go to The Business Report Card at www.mybusinessreportcard.com.

B2B Benchmarking Association: This association brings together a variety of companies for the purpose of process improvement and identification of "Best Practice" companies through benchmarking. Check them out online at http://b2bbenchmarking.com