In business it’s important to consider our next steps and change to either improve what we do, create something new or change direction.  It’s not easy to do this but it’s essential to spot the gaps in the business today and Change.

If you think about the last time you were starring out into space and trying to work out which way to turn, what to do and how in relation to your business.  Or you were travelling somewhere and had some time to reflect on your business – I bet you completed lots of work and ideas!

I love doing this and I appreciate not everyone does – which is why I do this for a job.  I’m constantly learning and reviewing the external markets to ensure I stay ahead.  Following some research, I’d like to share what the dictionary says about gaps with you.

What does the dictionary say about gaps and gap analysis? 

‘It’s a break or hole between two objects’

Quite easy really if you take a look at the key areas that impact your business such as people, customers, financials and your strategy and plan (direction) as a start.  This usually shows you the holes in between today and future or Gaps.

Next – Map out what this looks like and ask yourself, “will the current business model enable me to move forwards and deliver our goals?”.

YES, that great then keep an eye on performance monthly….

NO, then you need to act immediately, or your goals will not be met – create time to do this and follow my action list and tips below.

I would also look at creating some kind of measurement and to communicate the current business state and future i.e. what needs to change and next steps.

Action List & Tips

  • Allocate time to review your business
  • Get external help if it’s difficult
  • Think of change as positive
  • Take the emotion out of things you need to do and change
  • Map out today and understand the gaps for the future
  • Create Key Performance Indicators as a visual to check
  • Communicate to everyone – your team, supporters and clients

Business change can be easy and if you allocate time to spot the gaps and you should start to enjoy it too!

This article first appeared on the TFL Franchise & Business blog at www.thefutureltd.co.uk