I took my girls to OC Indoor Golf today for a Gap Analysis. For those that may not know, the purpose of the Gap Analysis is to determine the average distance we will hit the ball with each individual club. It makes it easier to determine which club to use when making an approach shot to the green based on how far out we are from the green.
The term Gap Analysis is more commonly used in business. In business, we use the Gap Analysis to measure potential performance with actual performance. Then, that information is used to determine what changes or improvements need to be made to reach the maximum potential performance.
I love comparing golf and business / work. There are so many things in common between the two. With the girls, if we average what they “should” be hitting in distance per club and look at how they are executing on the golf course, we’ll see where there’s room for improvement. I watch them play tournaments so much that I know if they are only 50% accurate in their shots. Obviously, there’s room for improvement.
In work and business, there are definitely many variables. Personally, I want to make sure I’m productive and what I do for my clients as far as marketing goes is effective. As long as it can be measured, it can be improved on. So, in every project or task, it doesn’t hurt to generate a report on any results possible. There are times where those measurements may not mean anything or are totally out of our control, however having them will give us a trend over time.
Whenever I host a prospecting event, I measure the number of guests that RSVP, number that show up, number that result in qualified leads, etc. I also track expense and over 9-12 months am able to track ROI based on closed sales. It’s a great way to show my clients the profit they’re making from the events I’m hosting for them.
Please share what aspects of work or business do you measure?