Good morning. Everyone another beautiful day here in sunny, Queensland hope the sun’s rising on your day spectacularly wherever you are.
This morning, Moneyay, Im calling today Moneyay, I want to talk about benchmarks.
Benchmarks are a very important tool in business. It’s a bit like road signs, so you know where you going for speed signs, so you know how fast you going.
Benchmarks give you a reference or a comparison to other businesses in your industry.
The Australian government has actually put up a whole bunch of benchmarks for you so if you have not had a look before go and look up ATO benchmarks, and you’ll see a whole list of different businesses and Industries there that you can use to compare how your business is going in comparison to other ones.
So it’s highly recommended to do this because it gives you some reference points for how we are playing the game, Sometimes we don’t know we doing the right thing and where we sit in comparison to similar businesses.
The other place you can look his Industry Associations.
There’s a whole bunch of associations for all Industries and they also quite often will have benchmarks for you to be able to look up and compare your business performance against others.
Even if just give you some targets to go for as well. If you’re ahead of your benchmarks, well done, what do you need to do to stay ahead of your benchmarks?If you behind what do you need to do to catch up?
Whenever I start with my new clients one of the things I have in my find my fee system is a benchmark comparison tool where we get the data, punch it in and we can see exactly where you are in comparison to other businesses in your industry, and where are you leaving money on the table, which is usually the case.
So it’s a very powerful tool so check out your benchmarks for Moneyay and have an amazing day.
You can check out my find your cash online program which generates a roadmap for finding the money you are leaving on the table at. https://findyourcash.global/join-us/
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