More than a year ago we released benchmarking facilities in our software to facilitate the our clients participating in benchmarking. For all the noise about the need for small business to benchmark, our experience is that there is a reluctance to share data and compare. While we cannot share the detail, a group of clients has commenced using the benchmarking tools in our software to automatically build a cross-store benchmark database.

While the most important benchmark for any business is its own past performance, benchmarking against other businesses in your category can be equally beneficial.