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What are Business Development OKRs?
The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Business Development to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
The best tools for writing perfect Business Development OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.
Business Development OKRs examples
We've added many examples of Business Development Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.
Hope you'll find this helpful!
OKRs to participate in project formulation and business case development
ObjectiveParticipate in project formulation and business case development
KRContribute towards developing 2 business cases impacting project decisions
Identify key objectives for each proposed business case- Lay out potential impacts on project decisions
- Prepare detailed presentations summarizing each case
- KRGain proficient understanding of 4 unique business case models
- Research and study 4 diverse business case models
- Analyze strengths and weaknesses of each model
- Apply learned concepts to real-world business scenarios
- KREngage in 3 distinct project formulation processes by end of the quarter
- Identify potential projects to formulate
- Outline the key objectives for each project
- Finalize and document all project plans
OKRs to gain comprehensive knowledge about the agency operations in business
- ObjectiveGain comprehensive knowledge about the agency operations in business
- KRComplete three different business agency related online courses by top institutes
- Research and select three top-rated business agency online courses
- Regularly study and complete each course
- Enroll in the selected online courses
- KRConduct informational interviews with five successful business agents
- Identify five successful business agents for interviews
- Schedule and conduct the individual interviews
- Prepare relevant questions regarding their business success
- KRRead and comprehend 10 agency-based business case studies and summarize learnings
OKRs to secure two contracts with value at least $300,000
- ObjectiveSecure two contracts with value at least $300,000
- KRSuccessfully negotiate and close at least two contracts valued above $150,000 each
- Research and identify potential high-value clients
- Develop customized proposals for each client
- Conduct persuasive negotiation meetings
- KRConduct 30 business proposal presentations for potential clients
- Schedule and execute 30 presentations
- Create and refine business proposal presentations
- Identify and research 30 potential clients for proposals
- KRIdentify and reach out to 50 potential clients by the end of the quarter
- Send outreach messages to each potential client
- Draft a personalized outreach message for each contact
- Create a list of 50 potential clients relevant to our business
OKRs to drive Business Expansion in Saudi Arabia's school sector
- ObjectiveDrive Business Expansion in Saudi Arabia's school sector
- KRObtain 10 new client contracts from GCC school sector
- Research potential GCC school sector clients
- Develop and send proposals to identified schools
- Follow-up meetings, negotiate, and finalize contracts
- KRSecure 30 new successful B2B interactions with GCC schools
- Follow-up with proposals to close on agreements
- Send tailored partnership proposals to identified schools
- Identify 50 GCC schools as potential B2B partners
- KRIncrease lead generation by 40% through tailored marketing and sales outreach
- Develop personalized marketing campaigns targeting potential leads
- Intensify sales outreach efforts with tailored proposals
- Enhance data analysis to identify and reach untapped markets
OKRs to craft a compelling and successful business case
- ObjectiveCraft a compelling and successful business case
- KRConduct detailed market and competitor analysis by end of Week 4
- Analyze market trends and customer preferences
- Gather data on competitor strategy and performance
- Identify key competitors in the market
- KRGather and incorporate feedback from 5 industry experts by end of Week 12
- Collect and analyze received feedback
- Implement relevant feedback into operations
- Identify and reach out to 5 industry experts for feedback
- KRDevelop a clear, attainable business case prototype by end of Week 8
- Review and finalize the prototype by end of Week 8
- Assemble these elements into a clear structure
- Identify key elements of the business case prototype
OKRs to successful Business Launch in Africa
- ObjectiveSuccessful Business Launch in Africa
- KRAchieve product engagement from 10,000 unique African users
- Offer tailored user-support services in local languages
- Partner with African influencers for product endorsements
- Develop user-centered, localized marketing strategies for African markets
- KRForge and establish 3 strategic local partnerships by quarter end
- Identify potential local businesses for partnership opportunities
- Arrange meetings to discuss potential collaborations
- Negotiate terms and finalize partnership agreements
- KRGain a 5% market share in the chosen African region
- Establish relationships with local distribution channels for product accessibility
- Develop a targeted marketing strategy focusing on the identified local interests
- Conduct market research to understand local customer preferences and buying habits
OKRs to identify and assess new growth opportunities
- ObjectiveIdentify and assess new growth opportunities
- KRConduct detailed feasibility studies for identified opportunities to determine viability
- Evaluate viability based on research outcomes
- Identify opportunities for feasibility study
- Perform detailed review of business prospects
- KRResearch and pinpoint 10 potential new market areas for business expansion
- Analyse findings to determine viability for business expansion
- Identify sectors and industries where our business can potentially expand
- Conduct detailed market research on the 10 identified areas
- KRDevelop and present 5 comprehensive business proposals for promising opportunities
- Develop comprehensive proposals for each opportunity
- Prepare presentations for each business proposal
- Identify 5 promising business opportunities for proposal
OKRs to achieve dominance in digital payment acceptance market
- ObjectiveAchieve dominance in digital payment acceptance market
- KRExpand to 3 new key geographical markets
- Develop a market entry strategy tailored for each region
- Allocate resources for marketing and operations in new markets
- Identify potential markets based on product demand and customer demographic
- KRIncrease total transaction volume by 25%
- Implement targeted marketing campaigns to attract new customers
- Invest in user-friendly transaction platform improvements
- Offer incentives for high-volume transactions
- KRSecure partnerships with 5 leading eCommerce platforms
- Develop tailored pitches for partnership proposals
- Reach out to eCommerce platforms with partnership proposals
- Identify top 5 eCommerce platforms suitable for partnership
OKRs to boost AI brand awareness in the fashion industry
- ObjectiveBoost AI brand awareness in the fashion industry
- KRSecure at least 3 partnerships with high-profile fashion companies for AI integration
- Reach out to companies with proposal meetings for AI integration
- Identify and research potential high-profile fashion companies for collaboration
- Develop and tailor unique partnership proposals for each company
- KRIncrease fashion industry leads by 30% via targeted AI-focused marketing campaigns
- Implement AI algorithms to analyze consumer behavior in the fashion sector
- Monitor, adjust AI-marketing strategies based on lead generation results
- Develop targeted marketing campaigns using insights from AI analysis
- KRGet featured in 5 leading fashion industry publications discussing AI implementation
- Develop and pitch an engaging AI-related story or idea
- Identify leading fashion industry publications interested in AI
- Follow up diligently with editors and reporters
OKRs to boost product visibility and establish success pipeline in new markets
- ObjectiveBoost product visibility and establish success pipeline in new markets
- KRRaise product awareness by 40% using targeted advertising in selected new markets
- Implement and monitor these targeted advertising campaigns
- Identify potential new markets for targeted advertising efforts
- Develop specific, appealing ads for these selected markets
- KRGenerate a 25% increase in product trial users in new markets
- Launch targeted online ad campaigns in new markets
- Collaborate with influencers popular in potential markets
- Implement a referral program offering incentives for new users
- KRSecure 10 new, potential business partnerships for product distribution
- Identify suitable companies for potential partnerships
- Reach out to these companies with a business proposal
- Schedule meetings to discuss partnership details
Business Development OKR best practices
Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.
Here are a couple of best practices extracted from our OKR implementation guide 👇
Tip #1: Limit the number of key results
Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.
We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.
Tip #2: Commit to weekly OKR check-ins
Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.
Being able to see trends for your key results will also keep yourself honest.
Tip #3: No more than 2 yellow statuses in a row
Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.
As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.
Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.
Save hours with automated OKR dashboards
Quarterly OKRs should have weekly updates to get all the benefits from the framework. Reviewing progress periodically has several advantages:
- It brings the goals back to the top of the mind
- It will highlight poorly set OKRs
- It will surface execution risks
- It improves transparency and accountability
We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Business Development OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to ensure financial efficiency at Wonderfly Arena
- OKRs to successfully migrate and train Sales Team on the new CRM
- OKRs to lead in healthcare e-learning with unmatched online enrollment
- OKRs to successfully facilitate enterprise-wide requirements elicitation for tool selection
- OKRs to enhance data engineering capabilities to drive software innovation
- OKRs to enhance customer retention rates