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How Competitive Benchmarking Misses the Mark — And What Anticipatory Leaders do Instead
Third-party perspective and comparing one’s self to others is how we as human beings maintain a frame of reference regarding a goal we are working toward. Also known as “benchmarking,” this process of comparative analysis may benefit you as a Formula 1 race car driver or a marathon runner, but it in no way helps you reach the significance many business leaders or entrepreneurs hope to achieve.
What I have come to find in the decades I have helped business leaders, CEOs, and entrepreneurs is that the act of benchmarking in business is a hindrance, as it does not give you and your organization that motivation to push harder. Instead, what happens time and again is a business leader looks at their competitor’s product, service, or process and consciously or often unconsciously ends up mimicking it!
Why does this happen, and how can you as a leader resist the urge to benchmark against the competition? I have five tips that can put a stop to counterproductive professional benchmarking, but first, understand this: The competition isn’t really competition, as we are all on the same team in one way or another.
