Hi everyone, Carl Gould here with your #70secondCEO—just a little over a one-minute investment every day for a lifetime of results.

Let’s talk about benchmarking. The tangible side of your business—your numbers—make up about 28% of its value. When you benchmark, you're comparing your financials to the industry averages. Why? Because it gives you clarity. It gives you a target. Whether or not your goal is to be number one in your industry, you need to know what the top looks like—and how far you are from it.

Benchmarking helps you understand your competition, and understanding is the first step to outperforming or even eliminating that competition.

Now, let’s move to the intangible side—your people. You don’t benchmark individuals—you benchmark the positions. You define the prototype for each role in your business, using your discovery org chart. What does the ideal salesperson look like? The ideal receptionist, marketer, accountant? What qualities, skills, and behaviors are essential?

Benchmarking helps you align every role with excellence, creating a high-performing, well-targeted organization.

Like and follow this podcast to learn more. I’m Carl Gould, and this has been your #70secondCEO.