Benchmarking Process in Daily Life

Free Tips & Tricks on How to do Benchmarking

Benchmarking Process in Real Life

We are sure that you are aware of the term “benchmarking”, which is a popular business approach, regularly used to compare a company’s indicator with its competitors’ performance. However, benchmarking process can also be used in your personal life. The most typical example is the evaluation system used in academic institutions. Still, this method could be your personal tool for success. MySkills Academy will give you a short introduction to advantages and disadvantages of benchmarking process in your daily life.

Advantages and Some Tips About Benchmarking Process

1) Clearly define which indicators you want to compare. The idea of benchmarking process is to constantly improve but not for the purpose of increasing your ego. Be sure to benchmark yourself against a person whose achievements are currently higher than yours. This will help you to aim for better and not worse.
2) If you have defined your weaknesses compared to your “competitor”, define targets you want to achieve. Simple example: If your friend has an English level of B2, you should aim at reaching C1-C2. Right down a short- and long term plan of actions to help you execute.
3) Keep your friends close but your competitors even closer. You will have to adapt your benchmark constantly, since your “competitors” also continuously benchmark and improve.

Disadvantages of Benchmarking in Real Life

1) Benchmarking process could lead to a regress of your own achievements. Improving your skills is always a good idea but remember that “first never follows”. Instead of copying someone, you could develop your own, unique set of skills.
2) If the benchmarked target is beyond your core competencies, you could waste a lot of time and still be worse than your “competitors”. Thus, read the info above again 🙂
Generally, benchmarking process in personal life is a good approach if you’re acting rationally and taking one step after the other.
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Benchmarking Process in Daily Life

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