Gap Analysis and how to use it in your business

Gap Analysis and how to use it in your business

There’s a school of thought that talks about setting intention and then trusting the universe that everything will manifest when it’s ready. There is also an ideology in most cultures that those who choose to work hardest will receive the largest rewards. This has more recently become those who also work smartest.

A great example comes from sport and Team Sky, the world beating cycling team whose riders have won Tour de France and almost every other major road cycling event.

The team’s top riders are known to not only start training a little earlier than the others and finish a few kilometres later but also to obsessively monitor every element of their lives whilst awake and asleep. This obsession with detail takes things down to fractions of a percentage in improvements to a multitude of things, from sleep patterns, diet, travel arrangements, training plans, leisure time, psychology and more.

Like many business sectors, where margins are so tight, incremental improvements in every facet of the situation, by just 1% each, can accumulatively result in significant gains. What might go unnoticed by others because of the almost miniscule significance of an individual element, can have a profound effect on the combined performance.

With this in mind, think about your own organisation. Break down your organisation into segments such as product, promotion, people, operations, sales, leadership, management, pricing, purchasing, remuneration, performance monitoring, reporting, innovation, profitability ... you will have many other areas to consider.

Imagine making 1% improvements to each of the 14 elements outlined above… collectively what would that mean for you and your business? How about assigning the challenge of 1% improvements to each colleague…. balanced scorecard is a great tool for helping them to report back. Then take the combined improvements score and let us all know how this helped you drive your business forward.

Get in touch, to receive our facilitation service, if you need help with this great injection of life and profitability into your business.