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Benchmarking

While you are developing your business, it is important to keep on eye on your market position. A great way to do this is through benchmarking, where you measure the performance of your business against that of your competitors. Effective benchmarking:

  1. Establishes industry standards
  2. Identifies strategies to achieve the best possible relationships with your customers and gain the best possible results on your bottom line
  3. Observes how your competitors achieve these standards and utilise these strategies
  4. Applies this knowledge to achieving and maintaining these results yourself

Benchmarking is about acknowledging your strengths and weaknesses, and identifying areas of opportunity and improvement – based on your competitors’ performance in the marketplace. It is imperative to always be aware of what your competitors are doing and how successful they are in doing so.

A good benchmarking review can help you in your business planning and cash flow management. Benefits of benchmarking include:

FREE CONFIDENTIAL DISCUSSION
Understanding a person’s financial situation is the first step to resolving their problems and achieving their goals. All new business clients looking to speak face-to-face with an accounting professional are offered an initial consultation at Pluta Accountants with the first hour at no charge. Businesses who wish to take advantage of a confidential discussion are encouraged to call 07 3379 8185 today.

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You can contact us at anytime at the following;

Office Location
858 Oxley Road
CORINDA QLD 4075

Mailing Address
PO BOX 114
MT OMMANEY QLD 4074

Phone: 07 3379 8185
Fax: 07 3379 9845
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