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The Gap Analysis - What is it, and how can it help my small business?

Updated: Jun 4, 2021

In short, (because what small business owner has the time) a Gap Analysis is a process to identify the gaps in your business to provide a better perspective of your operations and discover opportunities for improvement to help you reach your goals. What is the one thing that is always falling through the cracks, and coming back to bite you? We all have ran into them...


Anyone can perform a Gap Analysis within their company, however, it takes a dedicated time commitment and an open mind, which is hard to accomplish without an outside perspective.


An effective Gap Analysis is achieved best as a collaborative approach between your key employees, managers, and an external unbiased & experienced professional.



The steps to performing a Gap Analysis are:

  1. Identify & Analyze your current state -

  2. Which area of the business do you want to focus on?

  3. You cant know where you are going until you know where you are now

  4. Get to the root of the problem

  5. Establish your desired state -

  6. Dream big - don't be vague; establish measurable goals

  7. Set a timeline for obtaining your goals

  8. Discover the gaps, and get creative -

  9. Brainstorm potential solutions

  10. Outline your options

  11. Determine the pros and cons of each solution on a departmental level (how will fixing one department's problem impact other departments)

  12. Develop & Execute a plan to remedy the gap

  13. Define a clear strategy and action plan

  14. Get your team on board & establish departmental accountability

  15. Delegate actionable tasks to employees or departments


 

Interested in learning more? Have questions? Would you like a partner to help kick off your own business process improvement project? Let's work together to help you make your goals a reality!



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