How to Use SizeUp Arvada for Competitive Benchmarking

By Ali Stofflet, Arvada Chamber Director of Business Outreach and Growth

SizeUp Arvada is a powerful free online tool from the Greater Arvada Chamber and Arvada Economic Development Association that enables businesses to create benchmarks based on their competitors’ performance, including revenue and employee size. SizeUp Arvada offers powerful benchmarking capabilities to help you evaluate your business performance against industry competitors.

Here’s how you can use this tool to benchmark your business:

1. Performance Ranking: Input your business details, including industry, location, revenue, and employee count. SizeUp will then generate a scorecard showing what percentage of businesses in your industry you’re outperforming12.
2. Multiple Metrics Comparison: The tool evaluates your business across various measurements, including revenue, size, and salaries, allowing you to see how you stack up against competitors in different areas.
3. Geographical Performance: SizeUp maps the best-performing areas around you, helping you identify where typical businesses in your industry are doing well. This information can guide expansion or marketing decisions.
4. Custom Reports: You can generate customized reports to analyze specific aspects of your business performance, such as industry revenue, underserved markets, or areas with the highest average business revenue.
5. Data-Driven Recommendations: SizeUp doesn’t just provide raw data; it offers recommendations on how to interpret the information and make better decisions based on the benchmarking results1.

By utilizing these features, you can gain valuable insights into your business’s strengths and weaknesses compared to your competitors, identify areas for improvement, and make data-driven decisions to enhance your performance in the Arvada market.

Using SizeUp Arvada for Competitive Benchmarking

Revenue Benchmarking

SizeUp Arvada allows businesses to benchmark their performance against industry competitors in terms of revenue. Here’s how:

1. Input your business industry and location into the tool.
2. The software generates customized research for your company.
3. You can see how your business’s revenue compares to others in your industry.
4. The tool provides visual representations, such as charts and maps, to illustrate your performance relative to nearby competitors.

By utilizing this feature, you can:

• Identify where your business stands in terms of revenue compared to industry averages.
• Discover high-performing areas around you, which can inform expansion decisions[3].
• Gain insights into potential revenue growth opportunities.

Employee Size Benchmarking

In addition to revenue, SizeUp Arvada enables businesses to benchmark their employee size against competitors. This feature allows you to:

1. Compare your workforce size to industry standards.
2. Analyze labor force data in your area.
3. Determine if your staffing levels are appropriate for your industry and location.

Benefits of Using SizeUp Arvada for Benchmarking

• Data-Driven Decision Making: Access to this tool allows businesses to make informed decisions based on real market data.
• Competitive Advantage: By understanding how you measure up against competitors, you can identify areas for improvement and capitalize on your strengths.
• Strategic Planning: Use the benchmarking data to set realistic goals and develop strategies for growth.
• Cost-Effective Research: This free tool provides valuable insights without the need for expensive market research.
• Customized Analysis: The tool generates individually tailored research for each company, ensuring relevance to your specific business context.

By leveraging SizeUp Arvada’s benchmarking capabilities, businesses in Arvada can gain a comprehensive understanding of their competitive landscape, identify areas for improvement, and make data-driven decisions to foster growth and success. Use SizeUp Arvada for free at arvadachamber.org/sizeuparvada.