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Increase your business performance with this gap analysis template

Find the gaps in your business's performance and solve them with this gap analysis template

A gap analysis template helps your team find gaps between your business' current and desired states
A gap analysis is an assessment of your business's current performance and the future state of where you would like to see your business. The metrics you use in a gap analysis are usually quantitative measures, but qualitative and subjective measures can be used too. For most for-profit businesses, sales or revenue are the main metrics you might analyze.

A gap analysis starts with the current state of your business, team, or company. Then you come up with the desired state of your business, team, or company. The fun part of this analysis is the action plan you come up with to go from your current state to your future state. By asking good questions, you can figure out the path to get to your desired state. This gap analysis template is a good way for you to achieve your desired state and to
close the gap

What is a gap analysis template?

A gap analysis template helps you and your team visualize the gap analysis on your business. The template should help you do the analysis with your team collaboratively. More importantly, the gap analysis template gives you a
of the current and future states, the action plan, and more. Most gap analysis tools might only help with keeping a record of the analysis, but a Coda template helps with the analysis from beginning to end.

The brainstorming with your teammates, logging the current and future states, the action plan, etc. can all be stored in this template. There are many excel templates that let you do a gap analysis, but the best template should allow you to do these four things well:
Write your business's current state as a team
Write where you want to be in the future (future state) as a team
Enumerate the gaps between the current and future states
Find ways to close the gaps
Once the gap analysis is complete and your team is in agreement on the gaps, you can utilize a framework to start executing the action plan. This may involve doing a
or setting
. Whatever the framework may be, the gap analysis should be done
you implement one of these frameworks. This way, you come up with strategic goals to achieve based on the current gaps in your business.

How to use this gap analysis template?

You can use this template for a variety of use cases. Perhaps you want to conduct a skills gap analysis, or increase customer satisfaction at your company. Whatever the case may be, the purpose of this template is to improve upon your business's current situation. Here's how to get started with this template after you've made a copy:

Step 1: List projects or items

On the
page, the first thing you'll see is is a place to list out the different projects, initiatives, or items you want to focus on in the gap analysis template. You and your team can collaboratively add projects or items by first sharing the doc with your teammates and then hitting the
Add Items
button. In a for-profit business, the "projects" might be sales, training, or customer satisfaction.

Step 2: Identify current/future states and gaps

This is the key part of the gap analysis, and you and your team should spend the most time on this step. For each project or item you identified in step 1, ask three questions:
What is the current state of our business?
Where do we want our business to be in the future?
Why is there a gap between our current state and future state?
By asking these questions and peeling back the onion, you should be able to uncover the gaps in your business process that your team should improve. For the current and future states, you should be specific and add specific measures or KPIs. For example, the current state of your net profit might be 25% but your desired future state is 45%.

Step 3: Prioritize and add action items

Now that you've done the gap analysis, it's time to take action! For each project or item, your team should discuss the priority of that project and select the priority in the dropdown. In the layout, you can also click
Add Action Item
for each project so that there is a clear next step and owner of that action item. Each action item should be specific and have a business owner and due date. The gap analysis example includes dummy data which you can clear by hitting
Clear Dummy Data
at the top of the page.

Step 4: Take action

Most gap analysis templates you might use in Excel or PowerPoint stop here. What good is a template if it doesn't allow you and your team to drive real action to address the gaps you've identified?

In the
page, you'll see all the action items you added in step 3 organized by priority and project. This acts as the "to-do list" for you and your team. In order to tie this action plan with your company's broader strategic planning goals, you might tie this list into your company's OKRs (type /okrs in a Coda doc to see templates you can use) so that the gap analysis template is in-line with your current processes.

👉 Get started with: gap analysis template
Copy this template

After you have made a copy, share the template with your teammates by clicking
in the top-right of the Coda doc. This way the gap analysis template exercise is a collaborative exercise with you and your team.

What a gap analysis is

A gap analysis is a comparison of the current state of your business and future state or desired state of your business. There are many benefits of a gap analysis like for businesses of all shapes and sizes. A gap analysis can also be done for any industry from healthcare to non-profits. By identifying the gaps in your business, you can uncover the key steps, competencies, and skills your team need to do to take your business to the next level.

How to do a gap analysis?

Start by listing out projects or initiatives you want to improve upon. If you are doing a competitor or market gap analysis, you might just list out the different competitors in your market.

The next step is to list out the current and future states of each project, and then the reasons for the gaps that exist. If you are doing a gap analysis within the context of your company strategies and goals, it would make sense to include benchmarks in your analysis (e.g. current sales are at $10,000 per month).

The final step is to list out the action items you will take in a cohesive action plan to address the gaps in your business. There are many free gap analysis templates you can use and adapt to your specific scenario. This Coda template is one of them that gives you full customization similar to an Excel file.

Why a gap analysis is important?

A gap analysis is important because it encourages
within your team and company. By listing out facts about your business and the specific gaps that exist, you and your team can clearly see what needs to be done to achieve your future goals.

Second, a gap analysis is important because it is standardized framework you can apply to any company, use case, or industry. The most important parts of the gap analysis are the questions you ask you and your team to uncover the gaps in your business.

The more specific you make your gap descriptions the better. For instance, let's say you are trying to increase the net promoter score (a proxy for customer satisfaction with a product). Some questions you might ask to get to the root causes of the gap between your current and future states:
Why is our net promoter score so low?
Our users are not happy with how slow the product is when they first sign up.
Why is the product slow?
Because they are uploading too much data.
Why didn't we plan for that much data to be uploaded?
We didn't expect this much data to be uploaded into our product.
Why haven't we built this feature?
Because we have new product features to build that have a higher priority than this upload feature.
Why isn't this feature a priority?
A majority of our users have asked us to build the current features that are at the top of our priority list.

Common FAQs about gap analysis templates

What is a gap analysis and how is it done?

When should I do a gap analysis?

What are the steps to conducting a gap analysis?

👉 Start with:

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