The importance of benchmarks in trades like fencing – and how to use them to measure, manage, and grow your business.In this episode, Simon Davis breaks down why benchmarking is one of the most underutilized but powerful tools for trade businesses. From spotting red flags in your numbers to improving your quoting accuracy, benchmarks offer clarity, consistency, and confidence in decision-making.Whether you’re running a small crew or scaling up, if you’re not using benchmarks – you’re flying blind.Key TakeawaysSpot Strengths & WeaknessesBenchmarks show you where you’re excelling and where you need improvement (e.g., your gross profit margin vs. industry standard).Set Realistic GoalsUse industry data, not gut feelings, to set achievable and informed business goals.Make Better DecisionsWhether it’s labour costs or material use, benchmarks take out the guesswork.Track Progress Over TimeRevisit benchmarks annually to see if you’re improving or just staying busy.Build CredibilityFacts and figures give you confidence with lenders, clients, and new hires.Improve Job Costing & QuotingUse benchmarks to dial in your man-hours, waste rates, and job profitability.Timestamps00:00 – Introduction: Why benchmarks matter00:31 – #1: Identifying strengths & weaknesses01:00 – #2: Setting realistic, industry-aligned goals01:27 – #3: Making informed business decisions01:57 – #4: Tracking long-term progress and Kaizen02:24 – #5: Backing up your business with facts02:51 – #6: More accurate quoting & job costing03:10 – Final thoughts: Benchmarking is your dashboard🎧 Subscribe & Learn More at: www.theprofitablefencer.com📲 Follow The Profitable Fencer Podcast for more insights on growing a profitable fencing business.