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:
Identify & Analyze your current state -
Which area of the business do you want to focus on?
You cant know where you are going until you know where you are now
Get to the root of the problem
Establish your desired state -
Dream big - don't be vague; establish measurable goals
Set a timeline for obtaining your goals
Discover the gaps, and get creative -
Brainstorm potential solutions
Outline your options
Determine the pros and cons of each solution on a departmental level (how will fixing one department's problem impact other departments)
Develop & Execute a plan to remedy the gap
Define a clear strategy and action plan
Get your team on board & establish departmental accountability
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!