![]() goal of reducing tax return preparation time. She compares this to other tax filing offices where their average time is 35 minutes per return. The average time of her staff to complete a tax return is 55 minutes. Jessica runs a tax filing office and feels that her staff is not very efficient in doing each return, thus hindering bottom-line performance. In doing so, John is able to talk to more people and expand his network of potential buyers, thus creating a solid game plan for success. To overcome this deficit, he commits to joining two new networking groups that meet monthly. goal of $1.2 million in property sales.īy asking why he is not selling more, John realizes he is not having enough conversations with buyers and needs to expose himself to more people in the housing market. He wants to increase his sales by 20% this year, which is a S.M.A.R.T. In performing a gap analysis, John starts by assessing his current annual sales, which is $1 million in property sales. John is a real estate agent who wants to increase his sales. Let’s take a look at a couple of examples to better understand how to perform a gap analysis. Use-Case ExamplesĪ gap analysis can be used for just about any business scenario where you can measure performance. When done right, the gap analysis not only goes beyond just measuring goal success, but it also considers what obstacles exist or what might be wrong in your system that is preventing greater success. It can help set goals and see where you are in the process of achieving them. Here’s a template to guide you in your gap analysis:ĭownload Free Template Benefits of an Effective Gap AnalysisĪn effective gap analysis is a good way to evaluate your company. What needs to happen to get you to your goals? Develop action items that help you bridge the gap between where you are and where you want to be. Establish a plan to close existing gaps.The why could be a hiring problem, a training problem, a resources problem or something else. This involves getting to the details of why you aren’t as successful as you want to be. Now is the time to evaluate the gaps and get to the root of the problem. Analyze gaps from where you are to where you want to be.Relevant goals help you achieve the overall goals of the company while being time-sensitive gives you a deadline to measure progress and evaluate success. While goals should be aspirational, they need to be achievable, otherwise you may see a lack of motivation and frustration creep into morale. You want tasks to be measurable so that you can see the growth towards the goal. Being specific narrows down exactly what you want to achieve and removes any ambiguity. goals are specific, measurable, achievable, relevant and time-sensitive. ![]() ![]() Set S.M.A.R.T goals of where you want to end up.The metrics that you use will be what is most important to the success of your business or department. A sales team might be focused on lead generation and conversion rates while the accounting department may be focused on efficiency and accuracy. Define what is important for you in your department or organization. In fact, you can have different metrics used for different departments when conducting your own gap analysis. Every company will have different things that they focus on in a gap analysis. When conducting a gap analysis, there is a simple four-step process you can use to set action items that will help you reduce or eliminate your gaps. Via Zoho Projects's Secure Website The Four Steps of a Gap Analysis
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