How Do I Know if there is a Gap and What Can I Do About It?

The end of 2026 is fast approaching! If you’re like many business owners, this time of year seems to move in a rapid time warp, leaving us feeling breathless.

A Quick Way to Take Stock

For many business owners, we’re aware of potential issues, think something may be off, or we may be unaware. If you fall into the latter category, the truth is: we don’t know what we don’t know. To better assess where your business is and how to start 2027 on a great note, consider:

  • Where your business is now and how it is performing currently
  • Where you’d like your business to be and the expectations, hopes, wishes and dreams you have for it
  • Rate where your business is now against where you’d like your business to be on a scale of 0 to 10, where 0 is low and 10 is high

What number did you give now vs where you’d like your business to be? Be brutally honest with yourself. If you gave yourself a 10, that’s excellent, and it would seem that you’re completely satisfied and there’s no room for improvement.

If your number is less than 10, then there’s a gap. That gap lies between now and the future you envision for your business. Where the gap lies may be a challenge to determine, as sometimes there are things that we can’t see or are blind to – things we may not even realize have been impacting our businesses and our success.

If you rated your current view of your business vs. your future desired state a 10 out of 10, that is excellent, but then we must ask the question: where do we go from here?

Gaps emerge in our businesses through their entire life cycle. Some we can plan for, some simply crop up, and others confound us. If you remember the Five Business Dangers, they must be in a decent state for business gaps to be either minimal or non-existent. They are:

  • Leadership
  • Human Capital
  • Marketing
  • Sales
  • Financial

How are each of these areas performing in your business? There may be room for improvement in one or more of these business areas.

Our experience is that most gaps emerge in the areas of time, team, and money. These three overlap with the Five Business Dangers. However, they shed light on different aspects of the business. You might ask yourself the following:

  • How well is your business aligned with your personal goals?
  • Is your business working for you or is it the other way around?
  • Do you have time for personal interests and friends and family?
  • Are you earning a desirable income from the business?
  • Do you take vacations and when you do, what level of confidence do you have that the business will be fine with you being away?

Take stock and develop a list of areas that once addressed will contribute to the ongoing and future success of your business.

If you’re feeling some pressure to address the success of your business, don’t wait – it doesn’t take more than a brief phone call…

David is an accomplished and experienced business professional who brings over 45 years of perspective to the table. As a business coach, and trusted advisor, he specializes in helping owners close gaps, prioritize needs, and achieve the success they want. Virtual and in-person coaching sessions are available. It all starts with a conversation – Call 734-645-9406 today to see if business coaching might be a fit for you. Or contact David. Your success is waiting!