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Business Benchmarks: Stop Trouble Early

Posted August 08, 2009 8:24 AM by Sharkles

For nearly 50 years my dad has run his contracting business on a single premise: forget long-and-short-term benchmarks. Priority number one is to complete every job as efficiently and cost-effective as possible. He resisted using accounting benchmark and project management software. But was my dad doing the right thing? Was it possible for him to keep track of both office and field work? One expert says, benchmarking (both short-term and long-term) is critical to making good business decisions that keep your company financially healthy. When you see numbers trending in the wrong direction, take action immediately.

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#1

Re: Business Benchmarks: Stop Trouble Early

08/08/2009 1:28 PM

depends on the size of the company if its a small company, no, but if you want the company to grow, yes.

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#2

Re: Business Benchmarks: Stop Trouble Early

08/09/2009 7:48 PM

You tell us; did the business ever go bankrupt or did you ever go hungry? Did his help stay and were his customers happy? How much time did he spend in court?

My father and his father both used personal integrity as a business model for their respective businesses. Both were successful and prospered.

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Re: Business Benchmarks: Stop Trouble Early

08/09/2009 8:04 PM

funny thing about integrity, you work 20 years building it..........it can take a fraction of that to tear it to shreds, just by not believing it could happen to you.

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#4
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Re: Business Benchmarks: Stop Trouble Early

08/09/2009 9:04 PM

As Curly inferred in City Slickers there is only one thing that is important and that is integrity. Integrity isnt something one stops doing, you have to continue to exhibit or you have lost it.

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Re: Business Benchmarks: Stop Trouble Early

08/09/2009 9:22 PM

Integrity is more than a word to some people, and other people that never have it are the ones to watch out because integrity comes at a price most don't want to pay for.

That came from me and not a movie.

phoenix911

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Re: Business Benchmarks: Stop Trouble Early

08/10/2009 11:18 AM

"My father and his father both used personal integrity as a business model for their respective businesses."

Integrity is doing the right thing even when nobody is looking.

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#7

Re: Business Benchmarks: Stop Trouble Early

08/14/2009 11:10 PM

Efficiently and cost effective as possible is good, but limited to "What you know."

Benchmarking is a way to learn "what else is possible."

Who one Benchmarks to is an important detail.

One can then use their values to decide whether or not to employ these new ideas.

I've admitted before that I'm a fan of your dad.

Thanks for the great topic.

milo

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