This article originally appeared at Marketo Nation
Companies are unique, and that it includes your own. That’s why it’s important to look at it as an individual, rather than compare with other companies that their may be little to no relation.
Far too many companies fall into the trap of comparing themselves to other companies without taking into account key differentiators. Then, they go a step further by emulating their practices. Soon, it’s hard to decipher what made a given company unique to begin with.
Benchmarking has become a possible game changer for businesses. It allows for the analysis of data and statistics. A problematic side-effect of this however, is when companies start comparing themselves to other ones. It’s usually not accurate comparisons and why internal benchmarks need to be created. To do this, some things will need to be done, like defining what metrics you want to use, find out what’s in place now, and what’s wanted. Only then will benchmarks bring on the route to success and provide helpful information.
Meet Justin Gray
Justin is a serial entrepreneur and the CEO and founder of LeadMD, the world’s largest revenue operations agency having implemented over half of the Marketo user base. Justin has made a career of launching successful companies and scaling them, with successful exits of over 200MM+ in the last decade. Justin’s latest endeavor launched in 2016 when he co-founded Six Bricks an online learning startup designed to combat employee and customer churn through experience-based education. Over the past 10 years, Justin has emerged as a strong voice for entrepreneurship, marketing and culture. As a recognized speaker, Justin has been published over 350 times in industry publications and holds his own column, Tribal Knowledge in Inc., while writing for Entrepreneur, Tech Crunch and others. Justin and his wife Jennifer met over marketing and three years later welcomed their son, Grayson, into the world in April of 2017.