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tability.ioWhat are Business Plan Development OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
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 Plan 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.
Business Plan Development OKRs examples
You'll find below a list of Objectives and Key Results templates for Business Plan Development. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.
Hope you'll find this helpful!
OKRs to launch a viable startup in the tech industry
ObjectiveLaunch a viable startup in the tech industry
KRHire a core team of five professionals in tech, marketing, and operations
Identify required skills and experience for each job role- Schedule and conduct potential candidate interviews
- Post job vacancies on suitable recruitment platforms
- KRFinalize business plan with a detailed financial projection
- Review and refine existing business model assumptions
- Develop comprehensive profit and loss projections
- Incorporate relevant market research into the plan
- KRSecure investment from at least three different sources for initial capital
- Research and identify potential investors
- Conduct pitching sessions to these investors
- Create a compelling business plan
OKRs to formulate and Implement a robust Business and Product Strategy
- ObjectiveFormulate and Implement a robust Business and Product Strategy
- KRImplement and test product strategy with a minimum viable product in 6 weeks
- Develop a prototype of the minimum viable product
- Implement a detailed product strategy
- Conduct rigorous testing and gather feedback
- KRDevelop a comprehensive business strategy with measurable goals within 3 weeks
- Draft a comprehensive, strategic business plan
- Define measurable, time-bound business goals
- Research market trends and study competitors for business strategy formulation
- KRIdentify and analyse 5 key competitor business strategies within next quarter
- Identify 5 main competitors in the market
- Analyze each strategy's effectiveness and performance
- Research and note down their business strategies
OKRs to make business travel process fully digital
- ObjectiveMake business travel process fully digital
- KRIdentify and list all paper-dependent tasks in business travel by end of week 1
- Survey team members about paper-dependent tasks in business travel
- Research common paper-dependent tasks in corporate travel
- Compile list of identified paper-dependent travel tasks by end of week 1
- KRDesign and implement a digital solution for identified tasks within week 5
- Identify specific tasks requiring digital solution during week 5
- Sketch out a basic design for the digital solution
- Begin implementing the devised digital solution
- KRAchieve 95% employee adoption of the new digital process in trial phase
- Offer incentives for early adopters in trial phase
- Conduct informative training sessions on new digital process
- Seek feedback and troubleshoot issues quickly
How to write your own Business Plan Development OKRs
1. Get tailored OKRs with an AI
You'll find some examples below, but it's likely that you have very specific needs that won't be covered.
You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.
- 1. Go to Tability's plan editor
- 2. Click on the "Generate goals using AI" button
- 3. Use natural language to describe your goals
Tability will then use your prompt to generate a fully editable OKR template.
Watch the video below to see it in action 👇
Option 2. Optimise existing OKRs with Tability Feedback tool
If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.
- 1. Go to Tability's plan editor
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on "Generate analysis"
Tability's Strategy Map makes it easy to see all your org's OKRsTability 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.
You can then decide to accept the suggestions or dismiss them if you don't agree.
Option 3. Use the free OKR generator
If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.
Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.
Business Plan 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
Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.
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
Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.
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.
How to track your Business Plan Development OKRs
OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full 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 a proper OKR-tracking tool for it.
If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.
More Business Plan Development OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to achieve product market fit under the Sean Ellis framework
- OKRs to improve proficiency in English language
- OKRs to enhance data engineering capabilities to drive software innovation
- OKRs to streamline and optimize the payroll process
- OKRs to enhance Salesforce Lead Quality
- OKRs to enhance continuous improvement processes