About the Benchmark Survey

The Business Catapult's Benchmark Survey is simple in concept and elegant in execution. In the Benchmark Survey, an entrepreneur's answers are compared to the answers given by successful companies. The resulting Benchmark Report shows the entrepreneur where they are on the 'success path'. The Benchmark Report has proven to be a highly effective gap analysis for the entrepreneur, and a due diligence framework for investors that works to standardize the interface between them. Standards create new efficiencies. Entrepreneurial standards create entrepreneurial - and angel investor - success.

How Will The Benchmark Survey Be Used?

The Angel Capital Summit review board will use your Benchmark Survey to better understand your business during the review process. The Benchmark Survey has proven a powerful tool for quickly getting an accurate "gap analysis", or assessment of the company's strengths and weaknesses. The Survey has been validated in this role over the past two years with companies from a wide range of industries.

It is important to note that the survey is not an absolute predictor of success or failure. Neither is appropriate to use it as a stand-alone tool for ranking businesses. Instead, it's best used as a way to quickly understand where a companies weak spots may lie. Based on that assessment, the next step is to focus on those weak spots to see if they really are weaknesses, and if so, how to mitigate them. That's exactly how the review boards are instructed to interpret the benchmark results.

This is why, as a potential applicant, you're invited to take the survey more than once -- as many times as you wish, in fact. If your business has been in operation for a while, we suggest you take the Benchmark Survey twice: the first time from the perspective of when you first started operations, to see the roots of your success to date. Then take it again from the perspective of where you are now and the investment you're thinking of making to reach your next stage of growth. When you believe the survey accurately reflects your business, you may attach that survey to your application.

Naturally, we encourage you to answer the questions honestly. Our screening process is likely to catch any misrepresentations. More to the point, your business will be best served if you answer the questions honestly.

Yikes! My Survey Has Some Red Answers! Will My Application Be Rejected?

Not necessarily! The review panel will assess your application based on the Benchmark Survey in combination with the other information you provide, including your Executive Summary.

Bear in mind that in over three years of use, only a small handful of companies have ever scored entirely within the Benchmark. Frankly, we'd be surprised -- and perhaps a bit suspicious -- if any applicant scored perfectly. The Benchmark measures aggregate trends; yet every business is unique.

As one company put it: "A score off the benchmark isn't a show-stopper: it's a point for discussion."

So, what should you do if you have some scores off the benchmark?

First, click through to read the "Full Report". This report explains the survey questions in some depth, and suggests possible weaknesses in your business model based upon your answers. This is a good start.

Second, carefully consider your business plans in each one of the areas flagged as a possible problem. In your industry, or in your business, is there a good reason why your score is different? Or, if there really is a potential weakness, what steps can you take to mitigate the weakness?

Third, be prepared to discuss any scores off the benchmark. You may add explanatory text in the "Supplemental Information" field on the application, or in your Executive Summary; and if you're invited to audition with the review board, you may discuss your scores in the audition. These steps will help us understand your business better.

If you are selected to present, your Benchmark Survey will be will be used to guide your coaching experience leading into the presentation.