Empowering Growth with Real Data

While knowing where your organization stands in comparison to its peers is valuable, putting that knowledge into action is where you and your members truly reap the benefits of benchmarking. Studies that measure and score against common standards or industry best practices are a great way to assess progress and define performance standards. 

Scoring platforms commonly utilize best practices surveys and/or maturity models to measure compliance to established standards and best practices. Using a “behind the scenes” scoring mechanism, they provide an objective way for users to see how their answers align into pre-defined levels of maturity and point them toward resources to help improve individual performance. Industries and associations can use the collected data to develop content for training materials and programs, measure the effectiveness of standards, offer recognition or accreditation programs, assess competencies and more. 

The opening session at this year’s ASAE Annual Meeting really pumped up the Dynamic Benchmarking team. Delivered by Josh Linkner, a four-time successful entrepreneur and start-up investor, his presentation, Harnessing Innovation: Turning Raw Ideas into Powerful Results, chronicled the driving forces and philosophies that are part of the culture of our company. What Linkner taught us is that the best-of-the-best, those who can successfully develop a great idea into a successful, profitable business, have a systematic process that helps them focus their team’s creativity and drive into practical outputs. Linkner distills this process into 5 key components, and we were thrilled to see how closely these aligned with own business philosophies as well as how benchmarking feeds and supports these ideals.

Get Curious. Linkner believes that curiosity is the driving force behind creativity, a common trait in innovative leaders. Benchmarking as a practice is, likewise, driven by curiosity and allows for a safe and secure way to peek into the operations of our peers. Organizations use it to answer questions, identify trends, and measure progress. As tools go, benchmarking is the curious cat.

Always Look for What’s Next. It’s the forward-looking individual that’s almost always the force behind the latest innovation in a field. Those that are constantly asking ‘what if?’ are most likely to become the leaders of tomorrow, and companies that incorporate this philosophy into their mission greatly improve their likelihood of a long and successful future. Many organizations use benchmarking to identify trends in their industries or individual operations on which they can capitalize for future growth and/or innovation. Identifying a need in the marketplace opens the door for development of new services and products as well as the continued evolution of an organization to ensure it does not stagnate.

Defy Tradition. Doing the unexpected, or approaching obstacles from a non-traditional stance, can open up pathways to new solutions. Sometimes, digging deeper into your market or audience can bring to light a previously unseen solution. Many associations use benchmarking studies to keep their finger on the pulse of their membership to identify new topics for educational sessions or new services that might increase member satisfaction or enrollment. 

Get Scrappy. Linker’s favorite obsession, it’s what many may know better as the ‘start-up mentality.’ Look at your market with fresh eyes, passion and don’t be afraid to take some risks, albeit, they can be well-informed risks when benchmarking is on your side. Organizations who utilize benchmarking don’t assume that they have all the answers nor do they embrace the status quo. Associations and companies who use benchmarking seek the latest information on their industry and use the knowledge they gain to continually improve. Benchmarking can be a very powerful catalyst for change.

Push the Boundaries. In a start-up where resources are limited, but passions are high, a common mantra is ‘go big, or go home.’ In Linkner’s words, he calls this the 10x Litmus Test. “If you will gain a 10x savings in cost, sales or process, it is worth doing. If the gain is just 2x, it is not worth doing,” he says. Benchmarking can be used to support the undertaking of such efforts, especially in organizations that may be somewhat risk adverse. Benchmarking can be used to show the likelihood of such a gain using real world data.

As a team, we left Linkner’s presentation feeling inspired and energized. After ASAE Annual 2015, our sales and marketing team is filled with new perspectives on how benchmarking can further be utilized to drive the success of our clients. Our technology team is ready as ever to find new ways to improve our platform and our management team is on the search for the next opportunity for innovation for both Dynamic Benchmarking and our customers. We welcome you to join us and learn how benchmarking can help your organization innovate as well.