Resource analysis: Sheriff Brody looking out over the stern of The Orca gets a good look at the great white shark for the first time, backs up and says “You’re gonna need a bigger boat.”

Just in time for Shark Week 2022, let’s use Brody’s line to think about our businesses. (As a side note, this year is the 34th anniversary of Shark Week. Who would’ve thought?!?) Brody is assessing the project (kill the great white) and the available resources (The Orca and crew) and finding that there’s a gap in resources to get the job done.

Has your business grown quicker than anticipated? Have you taken on a client that is bigger than average or that requires more support than usual? Now would be a great time to take a moment to check your current resources. Is your boat big enough? Or, if it’s just big enough, would having a bigger boat make the work cheaper, faster, better or easier?  An analysis of your businesses Strengths, Weaknesses, Opportunities and Threats (SWOT) is an effective way to identify areas where there are resource gaps. Resource gaps could be lack of, or not the right, equipment, skillset or knowledge, finances, or people. Whether you are doing a SWOT analysis for a specific project (like taking on a large, recurring client) or the business operations as a whole, do a resource analysis by asking yourself these questions:

  • What resources do we need to provide services to clients and stakeholders?
  • What physical, intellectual, human and financial resources are needed to manage and support service delivery?
  • What resources are required to analyze performance and plan effective and efficient operations?
  • Will a lack of resources prevent our organization from achieving its objectives?
  • Are internal resources required or can some be accessed through partnerships?

Like Brody, Quint and Hooper, you can get the job done with the resources you already have but at what cost? (Quint and The Orca!) Take some time to assess your resources before not having that bigger boat becomes a problem! A business coach or mentor can help you get an objective view of the available resources and any gaps. Have a great Shark Week!