2 Revenue Diversification OKR examples with initiatives

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What are Revenue Diversification 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 Revenue Diversification 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.

Revenue Diversification OKRs examples

You'll find below a list of Objectives and Key Results templates for Revenue Diversification. 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 significantly increase MICE revenue and diversify client portfolio

ObjectiveSignificantly increase MICE revenue and diversify client portfolio
KRGenerate 900 billion in MICE revenue through new and existing clients
Conduct meetings to negotiate contracts with existing clients
Develop innovative packages and services for MICE clientele
Implement targeted marketing campaigns towards potential customers
KRIncrease average revenue per account by 10% with customized MICE packages
Organize marketing campaigns promoting customized MICE packages
Develop tailor-made MICE packages based on customers' budget and needs
Train sales team to effectively sell customized MICE packages
KRSecure contracts of at least 20 new MICE accounts
Negotiate and finalize contracts with leads
Develop and implement tailored sales pitches
Identify and research potential MICE account leads

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OKRs to expand business operations while ensuring economic sustainability and profitability

ObjectiveExpand business operations while ensuring economic sustainability and profitability
KRIncrease net profit margin by 15% through cost management and optimization strategies
Negotiate with suppliers for lower purchasing prices
Eliminate unnecessary expenses and wasteful processes
Implement energy efficiency measures to reduce utility costs
KRImprove operational efficiency by 20% with technology-based process enhancements
Upgrade existing technology to newer, more efficient models
Implement automated workflow software for routine processes
Train employees on utilizing technology for increased productivity
KRGain 10 new high value contracts to diversify company revenue streams
Directive focused negotiation and closing of 10 high-value contracts
Develop personalized pitch proposals for each targeted client
Identify and target 15 potential high-value clients in diverse industries

operational-efficiency revenue-diversification procurement-manager operations-manager business-development-team operations-team

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How to write your own Revenue Diversification 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 OKRs

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.

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.

Revenue Diversification 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.

How to track your Revenue Diversification OKRs

Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs 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

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

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 Revenue Diversification OKR templates

We have more templates to help you draft your team goals and OKRs.

2 OKR examples for Revenue Diversification